Power Loans, or Power Financial Services, is one of the top providers of payday loans operating out of South Africa. Providing their clients with the upmost flexibility is the goal of Power Loans. There is an array of different types of payday loans offered by Power Loans, and in particular, the client is able to customize their loan plan to fit their particular needs. Each client can fine tune precisely how much they need to borrow as well as the length of time needed for paying the loan back. No matter the demands of the particular client, Power Loans is sure to customize a loan package to suit those needs.
The loan application procedure has been simplified to make sure that each applicant is able to submit their details quickly and seamlessly. All of the information about the loans is given upfront, including the terms and conditions, to ensure that the applicant understands everything clearly. Assistance is also offered during the repayment phase.
In particular, Power Loans provides quick payday loans for up to one month. The repayment phase is chosen by the client, and can be adjusted to be anywhere from a few days to up to a few months. Power Loans is transparent with the cost of their loans, and this means that the annual percentage rate will always be clearly stated, and will always be between 30% and 60%.
Prospective clients can apply for a loan by either visiting one of the offices located in South Africa, or by visiting the online website. The website is cutting edge and allows you to adjust the loan parameters to your specifications so you can see clearly the cost of your loan, as well as the repayment details. If flexibility and transparency are your concerns, it will be worth considering Power Loans.
Applying for Power Loans
As mentioned, prospective clients can apply for a loan from Power Loans by either visiting an office in South Africa, or by simply visiting the online website. Whichever way you plan on applying, it will be helpful to first visit the website’s front page to get a quick estimate on your loan, before you even apply. On the front page, simply adjust the first meter to choose how much cash you want to borrow, then adjust the next meter to choose how long you want the cash for, and it will immediately tell you your repayment date, the cost of your interest and fees, and your total repayment cost.
Once you are ready to apply for the loans, you can fill out the quick application on the website. You will need a few pieces of information on hand. You will need to provide your most recent pay slip, which also means that you will have to be currently employed. The application will also require a copy of your identification card, as well as bank statements going back three months. Once Power Loans has this information, they will quickly calculate how much you will be able to borrow and for how long. They will also calculate the repayment details and let you know when you must pay the loan back.
It should also be noted that during the application process Power Loans will run bank and credit checks to verify your details. They will also be collecting a debit order from the bank which you supplied once the application is finalised.
Power Financial Services Loan Details
Power Loans allows you to borrow up to R8000, which is on the high side for loan service providers in South Africa. However, the exact amount that you will be able to borrow will be based on your personal details, to ensure that you will be able to pay back the loan. The maximum repayment term is 180 days, but this term will also come with the highest interest. The interest at Power Loans is normally 0.17% per day, so a quicker repayment term will result in lower overall interest.
In more detail, you may apply for a short term loan to borrow anywhere from R500 to R8000. You may also choose to apply to repay this loan anywhere from 61 days to 180 days. But again, it should be stressed that your current financial details are taken into consideration when applying, and you may not be granted the exact loan that you are applying for.
Finally, it should be mentioned that in order to be granted the highest loan, of R8000, with the longest repayment time, 180 days, you must visit one of the walk-in branches. You will normally not be able to apply for this highest loan with this maximum repayment time in the online application.
Power Loans Contact Details
To apply for a loan from Power Loans, or to simply learn more about their services, you can visit their website, visit one of their branches in South Africa, or speak with them on the telephone.
Company: Power Financial Services
Registered Address: 12 Platina Dr, Empangeni, 3880
Head Office: 5 Tyrell House Crowthorne Corner Garlicke Drive Ballito
Telephone: 087 702 1371