Low Budget Loans can save you from a financial emergency quickly.

    Founded in 2004, Low Budget Loans created a better way to provide quick credit to people with middle to high income salaries.

    The founders used their experience as bank managers to come up with a process that worked easily. As a result, they became a trusted name in the short-term loan industry.

    Low Budget Loans keep their overheads low by operating online only. Clients benefit from the savings.

    Low Budget Loans and Their core Values

    • An end to reckless lending.
    • Having a transparent work ethic.
    • Complete compliance with the National Credit Act.
    • Providing emergency loans you can afford.

    Low Budget Loans – how Much can I Borrow?

    A minimum amount of R500 and a maximum of R3 000. Once you have repaid your current loan, you may apply for another.

    When you apply for a loan, the company checks your payment history. If you maintain a good history, you may qualify for an increased amount of credit.

    Low Budget Loans

    How strict Are the Rules?

    Normal credit rules apply. If you are under sequestration or debt counselling, you will not qualify. Even with a bad credit history, the firm takes into account your most recent credit record.

    You may have gone through a bad patch last year and fell behind on some payments. But if you caught up and continued paying regularly, you stand a good chance of approval. However, always paying your accounts late, may not qualify you for a loan.

    Is the Interest rate Higher?

    Yes, it is higher than would be the case with a longer-term loan but that is normal in the industry. While you are paying a bit more in terms of your interest rate, the short-term nature of the repayments means that it is not overly high.

    Are there Other fees?

    You pay a once-off entry fee of about R165 + VAT as the amount depends on the loan value. You also pay a service fee of R60 per month in addition to the monthly payment.

    How does it Work?

    Simply apply online or by phone. You must provide an I.D. three month’s payslips and proof of residence. In minutes, whether approved or not, you receive a quote based on your profile.

    You then accept or decline the quote. Should you accept, sign the document and return it. The money is paid into your bank account immediately. The account must be the same one that your salary is paid into. Instalments are deducted from that account on pay day.

    Low Budget Loans offer fast, easy loans and give you the opportunity to build a relationship with them. When you have a financial emergency, they make it their business to be there for you.