What are Direct Access Loans? How to get?

To cope with tough economic situations Direct Access Loans in South Africa offers loan services all across the country. The group of experienced specialists provides financial aid to help needy individuals so they can face their financial burdens with confidence. Here in this article, we will look at the details related to Direct Access Loans, how you can apply for them, and other relevant information about them.

What Are Direct Access Loans? How To Get Them?

Direct Access Finance has been working in the field of financial services since 2013. The company offers loans to eligible people who need financial assistance in situations like sudden expenses or emergencies. 

The lowest possible interest rate, affordable charges, and quick payment procedures make these loans the best for South African citizens. The loans range from R 10,000 to R 5,000,000. 

The application procedure is easy and processing time is very quick. Moreover, with a 5% interest rate, the money you borrow from Direct Access is easy to repay. Remember this interest rate varies according to the amount you have borrowed and other relevant factors.

There are different types of Direct Access Loans available at Direct Access Loan Solutions to offer you loans for different needs. Let’s talk about the types of loans available at Direct Access. 

Direct Access Loan Types 

7 different types of loans are available at Direct Access. You can look at the description of each type below to understand which loan you should apply for. 

Debt Consolidation Loan

If you are overwhelmed with different loans that you have to pay and are confused about management of these loans you can apply for a debt consolidation loan from Direct Access. It helps you in managing small loans in a better, more appropriate way. All of your smaller loans are combined in a single loan, making it easier for you to repay them without taking much stress.

Personal Loans 

You can get a personal loan of up to R 500,000 with only a 5.6% interest rate. The repayment time Direct Access Loan provides you with for personal loans is between 2 to 6 years. 

You can manage the repayments and can customize the plan according to your requirements. With minimal paperwork, affordable repayment, and cost-effective interest rate, these personal loans from Direct Access are much preferred and reliable for most South African citizens.

Education Loans 

Direct Access also offers education loans to help students pay for their finances. You can finance your studies by taking a loan from Direct Access. You can also apply for 100% financial assistance in certain situations from Direct Access. 

The education loan that you can get from Direct Access can range up to R 100,000. Moreover, you can customize the loan repayment tenure and can increase the time up to 15 years. That makes Direct Access one of the preferred choices for students to achieve higher degrees without financial stress.

Autocar Loans 

If you want to purchase a car, Direct Access can help you not only finance your car but also in finding the right car and calculating which one you can afford. The company offers the best affordable car loans with only 1% interest rate dependent upon the credit assessment of the client. The loan repayment schedules are flexible and customizable according to the ease of the customer.

Wedding Loan 

You can apply for a wedding loan from Direct Access if you have a South African ID card number and are in need of financial assistance for your wedding. You can get this loan simply via applying for the loan online. 

Moreover, make sure to check for your credit score and use an EMI calculator to check how much EMI you have to pay and whether you can pay it comfortably or not before applying for the loan. This is because the loan approval for wedding loans from Direct Access depends totally upon your age, credit score, income, and repayment capacity.

Home Loans

If you want to renovate your home or want to purchase a new home you can take help from Direct Access financially. Direct Access offers you home loans up to R 250,000. 

You simply need to email the necessary documents to the email address of Direct Access and wait for their response. The loan repayment can be scheduled up to 7 years depending on your ease.

Business Loans

Direct Access also offers business loans. But you need to make sure that the turnover of your business is greater than 1 million for the last 12 months to apply for business funding. 

Moreover, you have to provide certain supporting documents in addition to the basic documents to apply for business loans. You have to submit last 4 months business bank statements to prove that you earn a handsome profit from your business. 

Furthermore, your business should be registered and it should be fully operational for the last 12 months. Remember, Direct Access does not provide financial assistance for sole proprietors, partnerships, or trusts.

Eligibility Requirement 

You must have to meet the following mentioned minimum eligibility criteria to apply for the loans from Direct Access. Make sure to understand the points mentioned below clearly so you can smoothly apply for the funds. 

• You must have to make sure that you are a South African citizen with a green barcoded ID. 
• Moreover, your age should be younger than 63 years to apply for the loan from Direct Access. 
• You have to make sure that you earn more than R 3000 per month to be eligible for the loan. 
• You have to provide proof that you are working as a current employer for a minimum of 6 months. 
• You also have to make sure that you have a bank account in your name or a joint account in your name, where your salary is paid.

How To Apply? Application Procedure 

Here is the step by step procedure that you have to follow to apply for Direct Access Loans. 

• The first thing that you have to do to apply for the loans is to click on directaccessloan.co.za/apply-now/. 
• As soon as you click on the link you will be directed to the application form. 
• You have to provide your personal details, loan details and other relevant information in the application form. 
• Make sure to provide all the genuine and correct information about you to maximise the chances of loan approval. 
• Then you have to upload the supporting documents in the given fields. The documents you have to submit are mentioned below. 
• Next, tick the box to accept the conditions of the loan application. 
• Click on “Next”. 
• Follow the instructions and then wait until you receive a response from Direct Access.

Essential Documents

The documents you need to submit along with other information includes,

• Your ID
• Your 3 months bank statement that should be stamped or your recent payslips if you do not have a bank statement. 
• Remember, you might have to submit other supporting documents if required.

How To Contact Direct Access Loans?

If you need to contact Direct Access for any questions or queries, here are the methods via which you can contact the company. 

Email: 

You can email them at the email address which is, [email protected].

Contact No:

You can directly call them on their telephone number which is 087 51 01 686.

Contact Page:

Furthermore, you can also visit their contact page by clicking on, directaccessloan.co.za/contact-us/. Then you have to fill in the required information that includes your name, email address, mobile number, subject and your message. Click on “Send Message” to get a response from Direct Access.

In-person Visit:

If you want to directly visit the Direct Access Loans office, you can simply visit them at their physical address which is,

286 Pretorius Street, 303 Central Towers CBD 0001, Pretoria.

FAQs

What types of loans are available at Direct Access Loans?

Direct Access is a well recognised financial solution provider that offers loans to eligible applicants. There are different types of loans the company offers including debt consolidation, personal, education and business loans. Moreover, you can also apply for a home loan, wedding loan, and auto car loan from Direct Access.

What documents are must to apply for Direct Access Loans?

The documents that you must attach with the online application form includes your ID copy and your 3 months bank statement. If you do not have a bank statement with you, you can also attach your recent pay slips. There could be other documents that you might need to attach but they vary according to the loan type and other factors.

Conclusion 

Direct Access is a financial service company offering several financial products particularly loans to eligible applicants. Above article tells you about the details related to Direct Access Loans, the products they offer, and the necessary information that you must have before initiating the application procedure. Make sure to understand everything beforehand to apply for the loans smoothly.