Face it, sometimes we all need a short-term loan to help us with our short-term financial needs, like car repairs, family vacations or an unexpected emergency that may pop up.Here’s a scenario: you work an eight to five job every day of the week and get a salary every month that enables you to cover your important expenses, like paying your rent/bond, paying your bills, and purchasing your groceries, etc. But what happens when you need cash mid-month? After having done everything you needed to do with your salary, a short-term loan is the best and wisest route to take when faced with an emergency.

A payday loan is a great type of short-term loan and there are hundreds of financial lenders willing and happy to offer short-term loans. That’s great, but every lender has different criteria for taking out a loan – some of which may land you in more trouble than you were before taking out the short-term loan.

With so many financial organisations offering short-term loans, or any kind of loan for that matter, you’re faced with the dilemma of figuring out which one is right for you: which loan will suit your financial state and lifestyle.

Capfin Loans

Capfin loans  offers over six and 12 months. They believe that there is no need to stand in long bank queues, and sign piles of paper to apply for a short term loan. All you need is your SA ID and latest proof of income, to be permanently employed and paid monthly into an SA Bank account.

In terms of interest rates, with Capfin your interest rate is fixed for the duration of the agreement and is calculated on the daily balance and capitalised monthly.

As with many short term loan providers, Capfin’s interest rates are slightly higher than what you would have paid at a bank – but that’s unfortunately the price you pay for getting a loan – fast! It’s always a good idea to use their loan calculator to make sure that you can afford the repayments.