Q. What if I am blacklisted and have judgements on my payslip?
You can still apply for the loan as the processing of your loan application is determined by your affordability and the stability of your income which is analysed by our consultants.
Q. How will I know if my loan application has been successful or declined?
Our consultants will contact you during the entire process of your application and will inform you via Email or Telephone should your loan application successful or declined.
Q. How long will it take for me to receive my money once the application has been approved and processed?
We make the payment into your bank account the same day the loan is approved and once we have received the signed contract. However depending on who you bank with it could take up to 24 to 48 hours to clear into your bank account.
Q. Do I need to come into any of your branches or meet with a consultant?
There is no need for you to ever come into our offices as our service is online. All communication that is needed will be done via Fax, Email and Telephone. Our banking is done via Electronic Transfer and our payments are collected via Debit Order.
Q. How long will it take for my loan application to be processed?
This depends on you as your application will only be reviewed as soon as we receive all your documents. Our loans are normally processed within 24 to 48 hours from a Monday to Friday.
Q. What do I need to do if I change my banking details?
Inform us immediately. Should your debit order not go through this will affect your credit record with Loanfin and therefore affect your ability to apply for loans or credit with Loanfin in the future.
Q. Can I use a relative or friends account to transfer the money into?
No. We will only transfer your money into your active bank account where you receive your salary.
Q. Can I apply for a loan jointly with my spouse?
No. We unfortunately only look at one or the other but not together. Should your spouse have a loan with us we unfortunately cannot assist you with credit either.
Q. What if I have a bad credit record?
Loanfin does a credit check on your name and should you have a bad credit record it does not necessarily mean that we won’t be able to assist you. We take a lot of other factors into consideration as well when approving a loan application.
Q. When can I speak to a consultant regarding my loan account?
Our consultants are available from Monday to Friday 08h00 to 17h00 and on Saturdays from 08h00 to 13h00.