SA Loanfinder - Loan Finding Service in Johannesburg

JOHANNESBURG - March 25, 2013 - PRLog -- When you take out a personal loan you are borrowing a certain amount of money from a financial institution for personal use.  The borrower makes monthly payments to the financial institution to repay the loan with added interest.
It could take months before you are able to safe up enough money to go on a trip, buy a much needed car or to have an emergency fund.  With a personal loan you have instant cash available and it provides peace of mind.
Types of loans:

Fixed interest rates – fixed monthly installment for the duration of the loan
Variable interest rates – an initial lower interest rate, but if the general interest rate rises, your monthly installment does as well
Secured loan – requires some type of collateral that can be claimed if the borrower fails to make payments. The loan amount a person qualifies for dependents on the value of the collateral.  The interest rate of a secured loan is lower
   Unsecured loan – requires no collateral, therefore there is nothing to be claimed if the borrower fails to make payments.  Interest rates are significantly higher

When taking out a personal loan the objective should be to repay the financial institution in the shortest time possible as the interest rates for personal loans are usually higher compared to other types of loans.  Financial institutions have criteria to which they determine the amount the borrower qualifies for and normally a person is allowed to borrow as much as he is able to pay.
There is a variety of financial institutions that offer personal loans and they all endeavor to offer the best value for money to stay competitive. They will tailor a loan that offers a reasonable interest rate and comfortable repayment terms.  Payment periods for the repayment of a personal loan range from 6 to 60 months and is usually negotiated to suit the borrower.
One of the biggest advantages of a personal loan is that it requires a minimum of documentation and the applicant does not have to complete endless forms.  Obtaining a personal loan is generally a painless and quick process.
Anybody with a regular source of income and a healthy credit history can apply for a personal loan.  If you do not wish to approach a financial institution on your own, you can make use of a third party such as a loan finding company.  These companies have a database of reputable financial institutions and they streamline the process through sourcing the institution that would suit your profile and needs.

When applying for an online loan it means that you opted for the convenience of clicking a button rather that making an appointment or completing numerous forms.  Online loans are loans that provide you with instant cash to address cash flow requirements.

The complete process is automated and strictly confidential.  The process is convenient, simple and quite fast, with turn-around times of hours instead of days.  An online application is available 24/7 and can be done from the comfort of your home or office.

When applying for an online loan your application will be screened and your credit history will be verified.

Any service provider that provides an online loan service, whether it is the financial institution or a third party, should adhere to the National Credit Act and all National Credit Regulator (NCR) rules.

When choosing such a provider look for one that is upfront about charges and fees and answers your questions completely and truthfully.  Do not hesitate to ask to have a look at their code of practice as well.

All info is on our website http://www.saloanfinder.com