Getting an easy short term loan from Wonga

Loans: Quick overview

• Loan amount: R500 – R4000 for new customers and up to R8000 for existing customers.
• Loan term: 4 days – 3 months for new customers to repay and up to 6 months for existing customers.
• Interest rate: 0.16% per day (Maximum monthly interest is 5%)
• Fees: Initiation fee, services fee, monthly service fee and insurance fee.
• Loan types: Short term, unsecured personal loans

About Wonga

Wonga Loans is an online lending company that provides cash to people who need it urgently and do not have the time and energy for a complicated bank loan application process. Their sophisticated risk and decision technology means the application and approval process takes literally minutes. There is no paper
work, no need to meet with the bank manager and no sitting for hours on hold on the phone. Just a quick and easy online application and you have your money.

How to apply for Wonga loans online application form?

Typical loan application steps are given below.

Visit the Wonga website and then register yourself with them. Decide how much money you need and when you want to repay it, move the sliders on the home page to the exact amount you want. The sliders will show you the full cost of repayment, if you are happy with the amount press “apply now”.

Add your name, ID number, home language, marital status, email address, and
password. Click on the Register tab. After creating your login ID and password, you can open your account anytime and apply for a loan. Complete the remaining application form via their secure form format by adding employment details, monthly income and expenses as well as your bank account
information. Verify your income by providing your most recent bank statement or payslips to
the account. Press the Submit tab to finish the application process.

Application requirements

• South African ID number
• Bank account details
• Mobile phone number registered in your name
• Most recent proof of income.

Who is Eligible for Wonga loans?

To be eligible for a loan, these are a must-have.

• Loan applicants can only be South African residents.
• The applicant requires to be above 18 years of age.
• The applicant must have a bank account in their name
• They also must have a registered mobile number under their name in their
  possession

Wonga loan interest rate?

Wonga offers a maximum interest rate of 5% simple interest rate to a new comer. Existing loaners can pay between a 3%-5% interest rate.

How long does Wonga take to approve a loan?

You are allowed to apply for one loan at a time, finish repayment then you can get another one. The money you have requested can be credited to your account as soon as all your documents are verified and your loan is approved.

Who is Wonga best for?

Wonga is best for borrowers who:

• Have urgent and short term cash-flow problems like additional money for groceries or petrol to work before month end.
• Need to pay their rent or bills incase of delayed salary payments.
• Are in desperate times like your car dying on you while you don’t have money to fix it yet.
• Need a convenient and fast application process that’s 100% online.
• Can be able to repay their loan quickly.

Pros of Wonga

Fast and convenient loans: The fastest easiest way to get the money you need without running around with paper work.

Responsible lending: Wonga aims to lend responsibly, treat their customers fairly and help people make better decision when it comes to taking credit and affordability.

No hidden charges: The Wonga loan calculator slider on their home page will help you know the total cost of the loan before you apply. This helps you determine what you can and can’t afford.

Early repayment: Wonga will not charge you for for saving on interest rate and paying your loan earlier than the time given.

Cons of Wonga

Limited options: Although it is easy and convenient to get money through Wonga, the maximum money provided limits you in case of wanting bigger projects like buying a car or a home.

No offices to visit: You won’t be able to visit a branch and apply for a loan should you feel the need for some face-to-face customer service. With Wonga, even the paperwork is uploaded online.

Wonga Loans Contact Details

For questions and concerns, you can reach Wonga through any of the following
methods:

Phone: 0861 966 421

Email (Info): customercare@wonga.co.za

Email (Fraud): fraud@wonga.co.za

Email (Repayments): collections@wonga.co.