What Are Mpowa Loans? How To Get It?

What if I tell you that if you have applied for a loan before 3:00 PM, you will receive cash of up to R 8000 by 5:00 PM in your account the same day? Yes, it is possible! Mpowa Finance is a lender company in South Africa known for its 24/7 availability, same-day cash payout, no paperwork, and, of course, lowest interest rates. Here in this article, we will look at the details of Mpowa finance lenders in South Africa, how you can apply, their eligibility requirements, and other related information.

What Are Mpowa Loans? How To Get It?

Mpowa loans are not only reliable and affordable credit providers in South Africa but also are known to be unique in their terms and conditions. Each of the loan agreements that are signed between borrower and lender is also voice-recorded for the safety of both sides. 

The method to apply for Mpowa loans is easy and simple. Within no more than two hours, you can get your loan payment directly deposited in your account if you are eligible for that. 

Since it is a registered credit provider, it works according to the rules and regulations of the National Credit Act, NCR, in South Africa. Let’s talk about the eligibility requirements an individual has to fulfill to get approval for Mpowa loans.

Eligibility Criteria

To apply for Mpowa loans, you must meet the following mentioned minimum eligibility requirements. Make sure to fulfill them before applying so that you can get the loan easily and quickly without any problems. You have to make sure that,

• Your age is either equal to or more than 18 years. 
• You should have a South African identity card with you. 
• You should be permanently employed. 
• You have to make sure that you have a cell phone number with you that is registered in your name. 
• You also have to make sure that you have your most recent payslips with you.
• Moreover,  you should have an active and valid South African bank account registered in your name.
• Moreover, you also have to pass the affordability assessment available on the website. 
• Your payment behavior if you have taken loans previously and your credit profile will also be checked.

How To Apply?

Here is the step-by-step procedure that you have to follow to apply for Mpowa loans. In order to apply for them, what you have to do is to,

• First, create your profile by visiting the official website of Mpowa. To visit the website you have to click on mpowafin.co.za. It hardly takes a minute for your profile to be created. 
• Then you have to open your profile and select the amount you want to take as a loan. 
• Also, select the time period of repayment that suits you the best. 
• You will receive an email in which you will get a loan contract within a few minutes of creating your profile and providing the necessary information. 
• Read the loan contract carefully and understand its terms and conditions. 
• Then upload your documents online. The documents you have to upload are all mentioned below. 
• You will receive a call from Mpowa for a voice recording. 
• You have to provide your voice recording, which should have contract details. 
• Remember to submit it before 15:00 to receive a cash payment in your account by 17:00.

Documents You Need

• You have to submit the documents of your identity, which could either be your South African ID card or your residential ID of South Africa. 
• Moreover, you have to submit proof of your monthly income either in the form of a pay slip or a three-month bank statement that should be stamped.

FAQs

How long does the process of applying for Mpowa loans in South Africa take? 

If you are planning to apply for Mpowa loans in South Africa, you just don’t need to worry about the processing time. This is because the processing time for MPOWA loans is extremely quick. It hardly takes 10 minutes for loan application submission and if you have applied before 3:00 PM, you will receive the cash payment in your account by 5:00 PM.

How to contact the Mpowa customer support team?

To get the answers to your queries and questions, you can contact the support team of Mpowa by simply calling 086 1228 228. You can call this number from Monday to Friday between 8:00 AM to 5:00 PM and from 8:30 AM to 11:30 PM on the last Saturday of every month. You can also SMS them on 083 7360 165 or visit the official website Mpowafin.co.za. You can also email them at [email protected]. 

What is the information required for an application to get Mpowa loans?

The information you have to provide to apply for Mpowa loans includes your ID number, employment information, your monthly income and expenses, and the details about your bank account information. Moreover, you also have to provide your contact details, mobile number, or email address.

Final Thoughts

Mpowa loans are not only reliable but also very safe and are renowned for being one of the best choices for a quick cash payout. If you want to receive the payment quickly, Mpowa would be the best choice for you. The above article tells you about everything related to Mpowa loans, including the step-by-step application process and eligibility criteria that will help you in applying for the loan.