Most people these days tend to take out a loan when they need to cover their expenses. Whether it is a home that you want to buy, a car, or consolidate your debt, taking out a loan is the easiest way to cover the expenses.
One of the things you must always remember is that if you take out a loan, you need to repay the amount in the due term. Hence, you should choose a lender that can fulfil all your financial requirements.
One of the South African lenders that you can approach is Wesbank which is a division of First Rank Bank Ltd. and provides different types of loan offers. Here are some of the features that make Wesbank a great choice as a lender for your financial needs.
- If you are looking for a personal loan, you can always something that will be of your interest. The lender offers a wide range of personal loans for the borrowers.
- All the loan offers and other products are regulated under the National Credit Act No.34 of 2005.
- When you are looking for authorized financial services, Wesbank will be the best choice. The lender is a registered credit provider NCRCP20.
In this article, we will give you a brief introduction toWesbank and detailed information about the Wesbank calculator. So, let’s get started!
Wesbank Loan: Are you planning to take it?
Personal loans are the best way to cover your expenses especially when you are in financial difficulties. You can use the personal loan to buy a home, car, debt consolidation, and other major expenses you want to cover.
Now choosing Wesbank as your lender will also be the best choice you can make. Wesbank personal loans can offer you the following benefits:
- Fixed instalments every month: Since the bank offers fixed interest rates, you will have a fixed monthly instalment for the loan. You can plan your budget ahead of time keeping the monthly instalment in mind.
- Flexible repayment terms: The bank also provides you ample time to repay your loan. The loan repayment terms provided by the bank are between 24 months and 72 months. This gives you enough time to make your repayments for the loan.
- Smooth application process: When you want to apply for Wesbank loans, you can do so through an online application process or by visiting your nearest branch for offline application. The process is straightforward and simple.
- Customer protection plan: Wesbank personal loans offer a customer protection plan. This will protect your interests in case of sudden events such as death, illnesses, job loss, or disability.
- No security needed: You don’t have to put your home or car or any other major asset as collateral for Wesbank personal loans.
- Quick transfer of money: When you have applied for a loan especially due to a financial emergency, having the money in your account quickly is of the utmost importance. Wesbank is quick and prompt to approve and deposit the money in your account.
Wesbank Cashpower loan: Things you need to know!
This is a special kind of loan offered by the bank. And it has the following features that make this loan offers one of the top choices of people in South Africa.
- The minimum loan amount you can apply for this offer is R5, 000.
- The maximum loan amount you can apply for this offer is R200, 000.
- The loan repayment term is flexible and is between 24 and 72 months.
- The maximum interest rate for this loan is 24.75% per annum.
You can apply for loan online or visit your nearest branch to find more information about this special loan offer from Wesbank.
Wesbank loan calculator: How to use it?
So, you have decided to take out a Wesbank personal loan. But do you know how much your monthly instalment will be or if you can afford the loan amount for the said loan term?
That’s where the Wesbank loan calculator will be helpful to you. This loan calculator is the easiest way to determine if you can afford the Wesbank loan or not. The loan calculator will help you determine your monthly instalment and understand how much of the loan amount would be affordable for you.
So, how does this loan calculator work? It’s quite simple and easy! All you need to do is fill the loan amount you want and loan term. Now, select ‘calculate repayment’. This will give you the monthly instalment amount that you need to repay for the selected loan amount.
You can play around with the calculator by filling in different loan amounts and terms to find the best monthly instalment that will fit your needs and budget. With the Wesbank loan calculator, you can take out a loan in a smart way.
Wesbank personal loan: How to apply?
To get a loan online from Wesbank, you will need the following documents:
- You need to have a monthly income that is more than R5, 000.
- You need to have a valid ID issued by the South African government.
- You need to submit monthly payslips or bank account statements for the past 3 months.
- You need to give proof of address. You can give documents such as your water bill or electricity bills.
- You need to have an active South African bank account where you can receive the money.
One thing to note is that the loan interest rates are included when you calculate the monthly repayment using the calculator. Also, there are some extra charges such as an initiation fee and monthly admin fee. The overall cost of your loan will be decided including these charges.
Now, if you want to know other loan offers from Wesbank or other lenders in the country, you can visit our website Snappy Loan.
We have curated all the best loan offers from the finest and approved lenders in South Africa. You can search, compare, and review the loan offers and go to the lender website for filling the application form.
So, check out Snappy Loan now to know more. Also, you can read our blogs for more information.