You work an 08:00 to 17:00 job, right? You also get a salary every month, right? But you also have important expenses every month, like paying rent/bond, paying bills, buying groceries and so on, isn’t that right? So what do you do when an emergency pops up in the middle of the month? This is where short term loans come in handy.
The definition of a short term loan can be broken down to one small sentence: A loan scheduled to be repaid in less than a year. Sometimes we all need a short term loan, otherwise known as a personal loan to help us with our short-term financial needs. Maybe you have a car that needs to be repaired, a family vacation or an unexpected emergency that pops up.
That’s why a short term loan is the wisest choice of all loans as you pay it off in less than a year. Where payday loans are also short term loans that you pay back at the end of the month. In short, you can choose between a simple payday loan or a short term loan with a one-year repayment period. Pretty good choices, wouldn’t you agree?
A payday loan is a great type of loan, but only if you’re taking it and paying it back in less than a month. Any longer and the interest will make the payday loan almost impossible to pay back. Whatever you choose, every loan provider has different criteria for taking out a loan, some of these loans might even land you in more trouble that you were in before you took the short term loan.
There are so many financial organisations out there offering short term loans or any kind of loan for that matter. So you’re faced with the dilemma of figuring out which one is right for you, isn’t that true? So let’s kill 2 birds with one stone.
Second, you need a valid short term loan provider. Since there are so many loan providers, the best way to find the top loan providers is to do a comparison. Likemoney already has the top rated loan providers, rated by other South African users based on their experience. Choose one of these, fill in your details and wait for a call.
Should you need a loan that provides a larger amount with a longer payment period, take a look at some personal loans providers. We are committed to responsible lending and advice you to only borrow as much as you can afford to pay back.