Wonga.com – fast loans until your next payday
Wonga is a short term finance provider that was founded by two South Africans who spent three years refining the service in the UK. Ideal for short term finance needs, Wonga is known for providing fast, little loans. Statistics say that South Africans currently owe more than R1 trillion on home loans, cars, store and credit cards. The credit industry in South Africa is robust and expanding. Individuals are no longer only relying on traditional lending institutions such as banks for finance. An increasing number of people are approaching micro-lenders for finance. Wonga is considered ideal for helping with occasional cash flow problems.
What can I get from Wonga?
As a first-time client, you can get up to R2500 in finance from Wonga. The minimum loan amount you can get from Wonga is R500, while repayment terms are flexible and reasonable. Wonga gives clients up to 38 days to repay. The longer you use Wonga services, the more trust is established. As your trust rating increases with Wonga, the more money you can gain access to. As an existing client, you can get up to R8000 in finance.
How does it work?
Simply visit the Wonga website and use the sliders online to select the amount you’d like to borrow and for how long. Once you have selected the amount and duration, Wonga will check your credit score and make a decision. This process takes 6 to 20 minutes. Once approved, the loan amount will be paid directly into your account. You have the freedom to choose your repayment date, so it’s important to ensure that funds are available on your chosen date.
A registered credit provider, Wonga provides a unique online service. The process is completely transparent. 99% of Wonga customers would recommend the lenders services. In addition, 97% say they would use Wonga again if they needed another loan service.