What is TymeBank Loan? How To Get?

When you are in need of money, you probably don’t want to waste your time parading the banks and applying for various loans at a time. This is why TymeBank loans are the ebay and most feasible option for all those looking for quick and easy loans. 

The entire loan application process of this bank is online and merely takes a few minutes of your time. All the approvals and even loan agreement will be signed online. For further details about the bank and its unique application process, keep on reading down below. 

What is TymeBank Loan? How To Get?

TymeBank is one of the largest and fastest growing digital banks headquartered in South Africa. The best thing about the loans provided by this bank is that the applicant does not have to physically visit their branch offices at all. The entire application process is online and takes only a few minutes to complete. 

Each step of the application process is designed to be super user friendly and convenient. All you have to do is follow the prescribed steps while applying for the loan and you will be alright! However, just make sure that you are eligible for the loan before you try to apply for it. 

TymeBank Loan Requirements

TymeBank loan requirements vary depending upon the jurisdiction and the type of loan you require, however, there are a few general requirements that everybody must fulfill. For instance, your age must be over eighteen years if you want to apply for a loan. 

You must also be a South African resident and have a constant stream of income. Other than that, you must also have a good credit history. However, in case your credit history is not so good, TymeBank might still lend you the money at a higher interest rate and with additional covenant clauses. 

You must also have a valid South African ID card to verify your nationality and a personal bank account. Plus, you must also have a registered mobile number in your name. 

Documents Needed To Apply For A TymeBank Loan

The best thing about TymeBank is that it does not require you to provide extensive documentation. In fact, what little documentation is required, must be provided electronically through scans and copies. The online digital banking system will itself verify your details within minutes of provision. The documents that would be requested from you are as follows. 

• South African ID card
• Registered mobile number in your name
• 3 months bank statements/payslips

The vigilant TymeBank It system will use your ID number and phone number to quickly verify your credit score and other personal details. Hence, you will know within minutes whether you are eligible for the loan or not. 

How To Apply For A TymeBank Loan – Step-By-Step Guide

a. Applying Via TymeBank Official Website

Register An Account

Before you apply for a loan with TymeBank, you need to create an account on their website as a customer. Follow these steps to create your account. 

• Go to their official website and click “Register”. 
• Fill out the registration form and click “Submit”. 
• You will receive an OTP on your registered mobile number, input it on the screen to verify your new account. 

Login To Your Account

• Click “Login” on the website and input your login credentials to access your account dashboard. 
• Click “Apply For Loan” in the loan section. 
• Fill out the loan application and click “Submit”. 
• They will do a quick evaluation and verify within a few minutes whether you are eligible for the loan. 
• Upon your eligibility verification, you would be required to provide your last three months bank statements. 
• If your online application is approved, TymeBank will digitally provide you with a copy of the loan agreement which you must read carefully and sign electronically.
• Finally, when all the authentications and checks are performed, the loan amount will be transferred directly into your bank account. 

b. Applying Via TymeBank App

• Download the TymeBank mobile app via Google Play Store or any play store accessible to you on your device.
• Open the app and click “Login” to input your login credentials. 
• Click on the “Money Management” tab and then on “Loans”. 
• Go through the list of loans provided and select the one you need. 
• Input the amount of loan you need in the required field and click “Proceed”. 
• Fill out the loan application form and click “Submit”. 

FAQs

How long does TymeBank take to approve the loan?

TymeBank takes about only a few minutes to approve your loans. This is because their entire banking system is online and all the approvals and verifications are made digitally. So, as soon as you apply for the loan, it will be verified and approved within minutes. 

Are TymeBank loans reliable?

TymeBank is a highly reputable bank headquartered and operational in South Africa. All the loans granted by this bank go through intensive verification procedures. Hence, it is safe to say that the TymeBank loans are indeed very reliable!

The Bottom Line

So, it is safe to say that applying for a TymeBank loan is very quick and convenient. You won’t have to physically visit their offices since it is a digital bank and runs all its operations fully and efficiently online. You just have to follow the steps of the prescribed procedure and your loan application will be completed, submitted, and approved in no time at all. 

If you apply via the official website, the bank officials will be constantly in touch with you and quickly verify your details as soon as you provide them. Thus, you will quickly know whether you apply for the loan and if yes, then how much. Once the loan is approved, the loan amount will be transferred directly into your account within minutes!