What Are Vodacom Loans? How To Get Them?

Vodacom Financial Services is one of the reliable financial assistance in South Africa, offering multiple types of loans and funding to needy individuals. You need to qualify for the loan based on the type of loan you are applying for and you will receive funds within no more than 24 hours. Here, this article will look at the elaborative description of Vodacom loans, how you can apply, and other relevant information.

What Are Vodacom Loans? How To Get Them?

Vodacom loans are offered by Vodacom financial services in South Africa. They are particularly designed to be accessible, affordable and flexible so that more people can benefit from it. 

Vodacom loans are mainly of two types. Vodalend personal loan and Vodacom business solutions. Here in the article, we will look at the details of both of these loan types offered by Vodacom.

Vodalend Personal Loans

Vodalend personal loans are flexible loans offered by the company to provide you with cash so that you can pay for your pending expenses. These flexible loans give you access to loans of up to R 250,000 within minutes. 

They are not only safe and trustworthy but also customizable. This is because with these you can choose the loan amount according to your need and the duration of repayment on your own. Here is the Eligibility requirement that you have to fulfill to apply for the loan.

Eligibility Requirements 

• You should be a South African citizen and should have a South African ID with you.
• Your age should be between 18 to 60 years.
• You should have a bank account in your name and should have to provide proof of monthly income claiming that you earn more than R 2500 per month.
• You should either be permanently employed in a registered organization or should be on contract for more than three months.

Loan Calculator

If you fulfill the eligibility requirements, then you have to use a loan calculator. There is this Vodalend loan calculator available online. 

You can access the calculator by clicking on vodacom.co.za/vodacom/services/financial-services/vodalend-personal-loans#eb0f6ca5-accordion-title–2913777700-2913777700. Now you have to choose the amount you need by simply sliding the slider.

You also have to select how many months you need to make the repayment. You have the option of selecting from 6 to 72 months for repayment. As soon as you move the slider, within seconds you will see the monthly repayment that you have to pay and the total repayment that you have to make.

How To Apply? Application Procedure

Here is the application procedure that you have to follow to apply for a Vodalend personal loan. In order to do that, what you have to do is to,

• Click on, vodacom.co.za/vodacom/services/financial-services/vodalend-personal-loans#eb0f6ca5-accordion-title–2913777700-2913777700 
• Now you have to click on “Get started.”
• Now choose “Apply now” if you are a new customer. 
• Now a page will open that displays the application form. 
• You have to fill in the columns of the application form. Make sure to provide every necessary information and also make sure you are providing correct and appropriate information. 
• As soon as you fill in the application form one of our customer service representatives will contact you and will help you in finalizing your application. 

Documents You Need To Submit 

Remember you have to submit,

• A valid South African ID document.
• The current pay slip should not be older than one month.
• The bank statement for the consecutive of the last 3 months. 

You have to submit all of these documents either by email method. You can email these documents to [email protected] 

Moreover, you simply can call the service center of Vodalend customers by dialing 086 010 2209. Here you have to ask about the details where you can send your supporting documents.

Vodacom Business Term Advance Loan

With Vodacom business loan you can get up to R 5 million cash as a business loan. Whether you need to pay the salaries of your employees or want to buy stock, you can apply for business funding from Vodacom to get a maximum of 5 million within no more than 24 hours if you are in need. 

The application procedure for a business loan hardly takes 10 minutes and has no paperwork involved. It is fully online and you can get your funds in your bank account within a day after application approval.

Eligibility Requirement

To apply for business loans from Vodacom, you have to make sure that, 

• You have a registered business that has been operational for the last year. 
• You also have to make sure that your business is making a minimum of 500K per year or R 40K per month. 
• Moreover, you also have to make sure that you agree with the terms and conditions of business loans.

How To Apply? Application Procedure 

• One of the best things about business term advance loans from Vodacom is that besides an online application procedure, you can call the service center or send them an email to the given email address to apply. 
• Their team will assist you and will help you with the procedure of submitting an application. 
• Alternatively, you have the option of visiting the official website of Vodacom. vodacombusiness.co.za/business/solutions/fund-my-business.
• Here you have to click on “Get Business Term Advance.”
• A page will open where you have to enter your details. 
• You have to provide your first name, last name, email address, annual revenue, and time of your business. 
• Then you have to click on “Get Started.”
• Now you have to follow the form as it is to apply for business.

FAQs

How long does Vodalend take to process your application? 

Vodalend hardly takes 10 minutes to half an hour to process your application. If your application is accepted successfully you will receive the funds on the same day of applying within 24 hours. 

How long are the payment terms of the business term advance loan from Vodalend?

The company offers two types of repayment terms: 6 months and 12 months. You have to finalize the repayment term according to your convenience. Moreover, remember it would be better for you to pay the full repayment term earlier as it can help you save. 

Is it possible to apply from a smartphone for Vodacom loans?

Yes, it is possible even if you can apply from any smart device from anywhere in the world regardless of any problems. Remember that the application procedure is paperless so you don’t need to put yourself in the complications of applying for the loan. Instead, you can apply from any of the smart devices that have access to the internet from anywhere around the world. 

What could be the reason for the decline of Vodalend personal loan applications?

There could be several reasons that can result in the decline of your application for a loan from Vodacom. Some of them include low credit scores or in case you are under debt review. Moreover,  if you already have an existing loan with Old Mutual Finance that is not older than three months or if your expenses are greater than your income there are chances that the loan will not be issued to you. 

Conclusion

Undoubtedly Vodacom is one of the best renowned and reliable loan providers to help you make your life easy and convenient. They offer different types of loans including personal loans and business loans. Make sure to understand the above article with all of your attention so that you do not have to face any complications when applying for a loan from Vodacom.