Vodacom Financial Services has introduced a new platform known as VodaLend Compare. This platform is a marketplace for financial services and is intended to provide consumers with unsecured personal loans.
The offering is currently accessible to users only through the VodaPay super app; however, an online version will be made available in the near future. The offering enables users to compare personal loan quotations in three simple steps, allowing them to apply for the best choice that meets both their lifestyle and their financial requirements.
Vodalend Compare is a service that connects consumers with up to nine personalized personal loan offers from independent lenders and suppliers. This eliminates the need for consumers to submit multiple loan applications to numerous institutions, which can have a negative impact on the applicant’s credit score. Nedbank, African Bank, Finchoice, and Boodle are some of the financial institutions that fall within this category.
Personal loan products have a range from R500 to R350 000, with payment lengths starting at 3 months and extending all the way up to 72 months, and quotes are determined based on an individual’s risk profile and capacity to repay the loan. Consumers who are approved can then sign an agreement, and they will get their money within the next 48 hours following approval.
After the launch of VodaLend Business Cash Advance, which offers cash advances to small and medium-sized businesses, VodaLend has now launched VodaLend Compare, which will allow customers to compare different loan options. Access to finance, which has traditionally been a substantial economic hurdle for both individuals and businesses, is being simplified by both of the programs that fall under the lending arm of Vodacom Financial Services.
VodaLend is on track for expansion and continues to simplify and digitalize the way that consumers and businesses transact on VodaPay. The end goal is to provide a one-stop shop for personal and business digital solutions within the super app, and the company is well on its way to achieving this goal.
Vodacom Financial Services is committed to serving both private customers and business customers with their financial needs. Our customers have access to the full suite of user-friendly digital financial solutions that we offer as part of our ecosystem. These solutions are intended for use in normal financial transactions. Cassim has stated that “Now, with our unique VodaLend product suite,” the company is broadening its efforts to guarantee that all South Africans may participate in the digital economy.
You may get the VodaPay super app from the Apple App Store or the Google Play Store to download on your mobile device. VodaLend Compare may be accessed on the VodaPay website by selecting Services on the homepage of the VodaPay website, and then looking for VodaLend Compare under the Finance section.
Visit https://vodapay.vodacom.co.za/vodapay/personal/home for extra details.