What Are Hippo Compare Loans? How To Get Them?
Hippo Loans is a well-recognized comparison website in South Africa that provides comparative study between different loan providers and loans available in South Africa. The company also works as a registered financial service provider offering different types of finance products including loans. Let’s talk about the in-depth description related to Hippo Loans and how they can help you by providing you with financial assistance.
What Are Hippo Compare Loans? How To Get Them?
Hippo Compare loans are the loans provided by Hippo Comparative Services (Pty) Limited in South Africa. It is a registered and authorized loan provider working since 2007 in the country. You can get a loan amount of R 1000 to R 350,000 from Hippo Loans if your application gets approved.
Moreover, Hippo comparative loans offer flexible and customizable repayment schedules. You can customise the schedule according to your convenience and can repay the loan amount within 7 to 72 months as per your convenience.
There are no upfront charges that you have to pay if your application gets approved for the loan but you have to pay a monthly service fee of R 69. Furthermore, the interest rate that is typically charged by Hippo Compare Loans is 27.25%.
Remember, it varies on the basis of different factors.
Hippo Loans are favoured by most South African citizens due to the effortless application process that they offer, the ease to access and free to use service. Since the service providers are reliable, recognisable and established, you can rely on them for your financial needs in case you need cash assistance.
Let’s discuss Hippo Loans deeply, the type of loans they offer, application procedure and requirements you need to fulfil before applying. We will first look at the loan types they offer to their customers before looking at anything else.
Hippo Compare Loan Types
Hippo Compare Loan works with multiple credit providers in South Africa and provides you with the comparative study of all of them so that the borrowers can finalise the best offer for them according to their need. Here is the description of the type of loan products the company offers to its customers via its platform.
Personal Loans
Hippo Loans offer personal loans that you can take to pay for unexpected or sudden expenses. You can take up to R 350,000 and can schedule the repayment terms according to your convenience. Other details of the loan vary on the basis of the lender you have opted and working with.
Consolidation Loans
If you are overwhelmed with various small loans that you have taken and now want to manage the cash flow, you can take debt consolidation loans from Hippo Loans financial services. The company offers several consolidation loans offered by different lenders.
You can use this amount to pay off your smaller loans and ease your mind from overwhelming debts. The terms and conditions of the consolidation loan you are taking from Hippo loan varies on the basis of the lender you have selected and the loan amount.
Home loans
Hippo Loans also offers you home loans from multiple loan providers. These home loans not only make home buying easy but also affordable and convenient.
You can look for the best deals by searching the website and finalising the right lender. Remember to consider terms and conditions of the lender before opting it.
Eligibility Requirements
- You need to make sure that your age is at least 18 years to apply for loans from Hippo Loans.
- You also have to make sure that you are earning a regular monthly income.
- Remember there are other particular requirements that you have to fulfil. These vary from lender to lender offered by Hippo Loans.
How To Apply? Application Procedure
The application procedure to apply for Hippo Loans is easy and effortless. To start with the application procedure, you first have to initiate the comparison process. In order to do that what you have to do is to,
- Visit the official website of Hippo Loans. You can do this by clicking on, hippo.co.za/personal-loans/
- Then you have to enter your ID number.
- After that you have to click on “Continue”.
- Now the company will process your information.
- After Hippo Loans has taken out the necessary information about you from the credit bureau, you will then be directed to a page where there is a short form that you have to complete.
- Make sure to provide the required information and ensure that you are providing the correct details.
- You have to enter the required details and have to mention the loan amount you need.
- Next the Hippo will sort out the matching offers according to your need from its lender partners. It will enlist the lenders you can go with to get the loan.
- Now compare all of these offers and read the description of each.
- Select the one that you think will be appropriate for you according to your need.
- After finalising, click on “I Am Interested”.
- Hippo will directly put you in contact with the loan provider that you have selected.
- Now you have to submit a formal application directly to the lender you have finalised.
- Make sure to read the terms and conditions and the process of submitting the application and documents of the lender, you have finalised.
Essential Documents
Although the exact documents that you have to submit varies on the basis of the lender’s requirement but some of the essential documents that you must need to apply for loans includes,
- The copy of your valid South African identity card.
- You have to submit your residential proof
- Also submit a 3 months recent bank statement. You can also submit payslips instead of bank statements if you do not have the bank statement with you.
How To Contact Hippo Compare Loans?
Webpage
If you have any queries or questions and you need assistance from Hippo Loans you can contact them directly via visiting their contact page. Simply click on
hippo.co.za/contact-us/ and you will be directed to the contact page. Fill in the columns and forward your question to Hippo Loans.
Call Number And Email
Moreover, you can directly call them on 086 100 7371 to discuss your matter or can email them on their email address which is [email protected].
Visiting Address
You can also visit them in person to sort out your problem by visiting their physical address. Their visiting address is, Block A, Steyn City Capital Park, Erling Road, Riverglen, Dainfern, 2191.
FAQs
Is Hippo a safe and trusted option?
Yes, Hippo is a safe and trusted option for loans as the company has been working in the field of financial services since 2007. It is an established and registered business and is authorised financial service providers working throughout the country. Moreover, most of the reviewers have reviewed the Hippo providers as a trusted and reliable company.
Are there Hippo Loans for bad credit?
Well you may find some of the lenders with offers for borrowers with bad credit scores. So if you have a bad credit score you can search for the right lender offered by Hippo Loans to check whether they fit best to your requirement or not.
Are there any short term loans offered by Hippo Loans?
Well short term loans are not exactly offered by Hippo Loans. Here we are talking about the pay day loans but the personal loans that are offered by Hippo usually have a short term repayment schedule, with a minimum of 6 months time period. This means the shortest repayment time of the loan that you get from Hippo Loans is 6 months.
What are the advantages of Hippo Compare loans?
Considering Hippo Compare loans is quite advantageous and beneficial for you as it provides you with the comparative study of different loan offers by different lenders. Moreover, the application procedure of Hippo Loans is also easy and offers you real time instant search results. The loan provider gives you access to a wide range of loan amounts meaning you can apply for the exact cash amount below R 350,000.
What are the disadvantages of Hippo Loans?
You need to keep in mind that the application approval depends totally upon the lender partners and not on Hippo Loans itself. This makes it less preferred by some borrowers. Moreover, the company is basically more towards insurance products instead of loan products which means it is not specialised in loans, ultimately affecting its reliability.
Conclusion
Hippo Loans Financial Services works in collaboration with different loan providers and delivers comparative study and information about different lenders to borrowers. They offer different types of loan products and allow borrowers to get the loan of up to R 350,000. Concentrate on this above article to understand all the necessary information about Hippo Loans before initiating with the loan application process.