With the Woolworths loan, clients can access cash within a 48 hour period. A flexible repayment term of up to 60 months is offered, along with the option to settle the repayment early, with no penalties. Interest charged is linked to the Repo rate, which means that interest charged varies. Added benefits of this loan are the low monthly service and initiation fees.
In 1931, when the first Woolworths store opened in Cape Town, South Africa, founder Max Sonnenberg sought to provide consumers with unparalleled superior, quality products. A leader in its class, Woolworths had an edge over other retail stores through the introduction of a computerised merchandising system as early as the 1970s. The chain store has extended this innovative influence of 400 stores throughout Africa, the Middle East, Australia, Singapore and New Zealand.
Currently listed as one of the top 100 companies on the JSE, Woolworths has expanded its range of services for clients to include revolving personal loans. These services are targeted at middle-income groups.
With the Woolworths loan, clients can access cash within a 48 hour period. A flexible repayment term of up to 60 months is offered, along with the option to settle the repayment early, with no penalties. Interest charged is linked to the Repo rate, which means that interest charged varies. Added benefits of this loan are the low monthly service and initiation fees. Clients are also welcome to make additional payments at any Woolworths store, via bank deposit or by EFT. In order to qualify, applicants need to be 18 years or older, own a South African identity document, have a bank account and be permanently employed, earning a minimum salary of R2000. Woolworths uses technology to enhance client experiences and encourage responsible, transparent lending by offering cellphone services that allow recipients to check minimum payment, balance, available credit and payment due date. Cash can also be accessed through an interactive voice message system.
Individuals who are in need of financial assistance to take care of unexpected expenses, or pressing month-end costs can apply for Woolworths Loans online or by visiting a local store. Woolworths can be contacted on: 0861 50 20 10
