Ackermans Personal Loan
Ackermans Personal Loan

Ackermans Personal Loan

Looking For A Personal Loan?

Having easy access to institutions that provide personal loans to the average South African can be problematic. Banking hours are shorter than average business hours. Getting to a place to apply for a personal loan is also an obstacle if it is not close to where you live.

If you are looking for a personal loan and do want to go to the ends of the earth to find a company that will grant you a personal loan then you are in luck. Ackermans that has been in business for years as a clothing retailer also provides personal loans with the assistance of Capfin.

What also makes the process easy is that there are Ackermans stores situated all over South Africa. This means that you do not have to spend time going out of your way to apply for a personal loan.

You may also complete an online loan application if you do not have the time to go to an Ackermans store.

Applying For An Ackermans Personal Loan By Capfin

The application process is easy. There is no long ques or waiting in line because you can make a loan application at any Ackermans store. You can apply for a personal loan up to R20 000.

All you will need to apply for a loan is

  • A South African ID.
  • Three payslips and three months bank statement.
  • A valid South African Bank account.
  • Valid telephone or cellphone contact number.
  • If you qualify for a loan Capfin will be in contact with you to discuss repayment options.
  • If you accept the terms and conditions of the loan the money will be paid directly into your bank account.

Please Note The Following cost Involved

  • Depending on the number of months you choose to pay back the loan. The interest rate ranges between 5% for 6 months payment terms and 27.75% for more than 12-month payment terms.
  • There is also an initiation fee. The fee will dependant on the amount of the personal loan you are applying for. The amount can range from R535 up to R1 208.
  • Besides the once-off initiation fee, there is also a monthly service fee of R69.
  • The monthly installments will depend on the amount you took for the loan and the period of time you take to pay off the loan.

Please note the longer the period the more interest you will pay on the loan.

  • For example, if you take an R4 000 your monthly payment will be R935. The loan repayment amount will be around R5 600.

Repayment Of The Loan

  • You can repay the loan back at any Ackermans store.
  • You will also to pay off the loan via EFT or by doing direct deposits.

Compare Personal Loan Offerings

If you are desperate for a personal loan to cover a financial emergency then it is best to first shop around and see what other lenders offer. Review the terms and conditions carefully. Make sure that the lender is a registered Financial Service Provider. Make sure that the lender registered with the NCR.

Personal Loan Security

Some lenders request that you must have security to qualify for a personal loan. This basically means you will have to offer something of value as security in case you forfeit on the loan. If you do forfeit and is unable to pay the personal loan back then the lender will take ownership of the assets you offered as security.

Contact Capfin

To find out more about Capfin Personal Loans you call their Call Centre: 087 354 0000 or SMS “LOAN” to 43679.

Budget Your Monthly Expenses

Before applying for any personal loan make sure that you will be able to afford the repayments. If you are in financial stress each month struggling to make end meet do not make it worse by making more debt.

Instead, plan and budget for what you and family may need and is important to keep your family happy and financially secure each month.

Read: What is a Budget and How to Budget for Unexpected Expenses.

Related Posts