The Advantages of Online Loans

The Advantages of Online Loans

An online loan is a form of loan which you apply for over the internet. There are many different forms of online loans, and there are many companies out there that will let you apply for a loan online. The best online loans typically offer great benefits and advantages when compared to a ‘traditional’ loan which you might apply for in-person or through a business branch. Online loans have been growing in popularity across South Africa over the last ten years and is proud to be your leading provider in 2019.

A convenient online loan application

Online loans offer a great advantage in that you can apply to borrow an amount when and where you need it. Wonga allows you to fully complete your loan application online - whether through your mobile phone, a tablet, or even a desktop computer.  

Applications are completed through our website, meaning that you can log in, complete your online loan application, and receive your cash quickly and conveniently. Borrowing through Wonga lets you apply anywhere, at any time, from the comfort of your favourite armchair, all you need is an internet connection!

Flexible, affordable loans online

Taking out an online loan lets you pick a loan amount and loan term that’s right for you. When you apply with Wonga, you can decide on a flexible loan that fits your needs right from the palm of your hand. You can apply online to borrow as much as R4000 if you’re a first-time customer, and you can repay over just 6 days or up to 3 months depending on how long you’ll need a loan for. Existing customers can apply for up to R8000 and repay up to 6 months.

Quick access to safe and confidential borrowing

When you visit a bank or a loan branch to take out a ‘traditional’ loan, you might have to answer a series of questions about why you need a loan in the first place, the process can be slow, and sometimes we need things to go fast.

Online loans with Wonga grant you quick access to the funds you need safely and confidentially – you won’t need to provide reasons as to why you need an online loan; all you’ll need to do is make sure that you can comfortably afford to repay your loan as well as its interest and fees. With Wonga, all you’ll need to do is to ensure that you have enough cash in your bank account on your chosen repayment date, and we’ll take care of the rest.

How online loans can save you money

With Wonga, applying for loans online is simple, and can save you money – there are no deposits, no upfront costs or loan application fees required.

Online loans are often more affordable, and are easier to repay – by setting a repayment date that suits you, you can see the total cost of your loan upfront; meaning that you can make an informed decision about whether you can afford to borrow a loan, or how much you might want to borrow in the first place.

Depending on your loan provider, you might even be able to avoid paying the full interest and fees on your loan by opting to repay earlier than you originally indicated. With Wonga, we actively encourage you to repay your loan as soon as possible to avoid paying too much interest.

Compare Wonga loans online with competitors

A great feature of applying for a loan online is the ability to compare loans before committing to any of them. By visiting different websites and comparing the fees and interest rates charged on different loan options, you can get a good idea of what you’ll need to repay and which options are the most affordable for your needs.

If you think Wonga might be the right lender for you, take a look at our personal loans - we offer flexible personal loans lasting from 6 days up to 6 months.