Who can’t take out PayDay Loans?

A service reserved for South African citizens and persons with a certain level of income, there are many elements that can hinder your application and qualification of a PayDay loan. So, who can’t take out PayDay Loans?

The obvious would be if you were another nationality, however you could also have trouble with the process if you do not have a permanent working position- no matter your monthly income. Even though you may be earning above the required amount, the lack of job security can make you a larger risk to creditors. On the other side, if you have a permanent position but do not earn R4,000 or over then you will also not qualify for a loan of this type as it would be too much of a financial burden and could be considered reckless-lending under the right circumstances.

If you do not fall into any of these gaps, then go ahead and apply for a quick and easy PayDay loan- securing your financial security in the short-term.

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