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Frequently Asked Questions

 
 

1. What is the period of the loan?
Our loan period is one (1) month; however we are open for negotiation with clients

 

2. What if I skip the payment
Unlike other organizations; we offer 20 days after skipping payment for the customer to make contact with us to arrange a payment plan according the situation that has arisen.

 

3. How much is the interest?
Interest rate is 25% on borrowed amount! Good news is that the interest includes all fees, charges and administration fees.

 

4. Must I explain why I need a loan?
No. Not at all.

 

5. What happens to my information when I apply online?
Your information is protected by online software to keep hackers and spyware from accessing it, no unauthorized person will be able to access it. On the other hand, we will not disclose your information for anyone under any circumstances.

 

6. Do you open office on weekends?
We are open 6 days a week; Mondays to Saturdays from 8:30am to 17:00pm

 

7. How long does a load application take to be approved?
It is same day approval, depending on your credit rating. To make sure you qualify, take note of the following key points:

• Please note that a consultant will discuss any additional requirements with you, as every loan is assessed according to your individual situation and credit history.

• Ensure you have the relevant documents.
- Your latest 3 months bank statements.
- Your most recent payslip(s) for one month.
- Your South African green bar-coded Identity Document/Smart Card.
- Proof of residence for Financial Intelligence Centre Act
- (FICA purposes such as a utility bill or statement of account that has your name and physical address on it).

• Visit us at our office to apply
Our consultants will now capture your information and submit your application .If your loan is approved, you will be notified and the funds will be deposited directly into your bank account or Call us on 0113462378

 

8. What is included in my loan fee?
Money borrowed; interest and administration fee.

 

9. How do I repay my loan?
Once your loan is approved, we will deposit your money into the same bank account as your salary. Your loan repayments will be paid to us automatically at the end of the month.

 

10. Do I get insurance on my loan?
No, we do not offer insurance on the loan.

 

11. How can I speed up the loan application?
Speed up the process by ensuring that you have all the relevant documentation required.

 

12. Why is it safer to borrow from Alternative Loans?
We are fully regulated by the government, you can be assured of being treated fairly and honestly.

 

13. Will I qualify for a Loan?
At Alternative Loans Solutions we believe that everyone is unique and our loans are tailored for you, the individual. Please visit our branch and speak to a consultant who will help you with your loan and qualification requirements.

Approval of your loan application is subject to our credit policy and standard terms and conditions for loan agreements.

 
 
 
 
 
 
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