WONGA
Wonga (Payday Loan)
        
Applying for a Wonga loan could not be simpler. There’s no laborious paperwork to be done, documents to fax, or wating around in a telephone queue, because our unique service is 100% online from start to finish. Just use the sliders on the home page to work out how much money you need to borrow and for how long. You will know the full cost straight away and once you're happy with the terms, just click “apply”. Please make sure that you read the terms and conditions thoroughly to ensure that you fully understand your financial obligations
Location: South Africa
Lender/Broker: Lender
Advantages:
1. Quick and easy application
2. Instant decision 24/7
3. No hidden charges
Disadvantages:
1. Our service has an annual interest rate of 60%, in line with the regulations set out in the NCA, But remember a Wonga loan is only for between one day and a month – so actually you’re paying just 0.164% interest a day 
2. Wonga.com doesn’t believe in hitting you with ongoing and multiple charges, like most traditional lenders, but interest and service fees will continue to mount on your balance if you do not repay your loan on your chosen date. You can repay your loan early though, and you might even be able to save some money that way.. 
3. The Service fee we charge is R50 per month plus 14% VAT, as prescribed by the NCA
Services:
Short term credit provider

Interest Rate: 60% per annum; 5% per month or 0.164% per dayLoan Amount: R100 - R2000
Min Term: 1 dayMax Term: 30 days

Secured Loan: NoUnsecured Loan: Yes

Terms and Conditions:
South African ID number,over 18 years, employed and a bank account in your name
Identification:
South African ID Number; cell phone (to receive a PIN)
Suitable:
For those seeking a short term financial solution to a short term cashflow problem
Restrictions:
You must be employed and have a South African ID number in order to qualify. You must be over 18 years old and have a bank account in your name
        
REVIEWS
Wonga (Which Way To Pay - 25/4/2014)
Wonga is ranked 3 out of 5. Based on 1 review.

3 Star Rating

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