Cobol Affordable Loans Online – South Africa
April 2, 2018
Cobol offers quick cash loans of up to R3 000. All you need to do is to apply online and the money is paid into you account the same day if the loan is approved.
How Cobol Works
You complete the simple application online. If it is approved, Cobol sends you a quote. All you need to do is to sign it and send it back and the funds are paid into your account.
You choose your amount between R1 000 and R3 000 and pay it off in six equal instalments.
How Much am I Charged?
You will pay a once-off initiation fee, the amount of which will depend on your loan. You will also pay a monthly administration fee of R68.40. On top of that, you do pay a reasonable interest rate.
Will I Qualify?
You must currently be a South African citizen and you must be employed full-time. In addition, you will need to have a bank account to pay the money into and you must be earning at least R3 000 per month.
Is the Company a Responsible Lender?
Yes, the company actually goes so far as to advising those who are already over-indebted to seek the help of a debt counsellor rather than to apply for another loan that they cannot afford.
The company is a registered credit provider and so will complete the requisite credit bureau checks to ascertain that you have a reasonably good credit history.
How Secure is the Information?
The company takes customer security very seriously. They take extensive precautions to keep your data safe and will not sell your contact data on to other companies.
What kind of Repayments am I Looking at?
That depends on the total amount of the loan you apply and your personal risk profile for but, as an illustration, a R1 000 loanmight be repayable at R284.33 per month in total. (That’s including the capital repayment, the interest and the monthly administration fee.)
So, in total, you would pay back a total of R1 705.93.
How do I Pay it Back?
When you agree to the terms and conditions and sign the quote, you are authorising the company to take the money by debit order every month. The money will be deducted automatically on your payday.
Why is Everything So Fast?
Some people wonder how Cobol can act so quickly when a bank application takes so much longer. It’s because the company specializes in the area of fast, small, short-term loans. As a result, they have been able to streamline the process a lot more effectively than your typical retail bank can.
By keeping the repayment terms fixed at six months, and limiting the total loan allowed, they are able to keep the application process nice and easy.
Are you going to be able to get a home loan through Cobol? No, because home loans are not what they do. What you will get, however, is expert short-term financing when you need it most. And you will get it fast.
Next: complete and submit the form on this page to request a loan. We will get back to you fast
All info was correct at time of publishing