There are times when all of us could use some extra cash to cover unforeseen expenses.
A Guide to the repayments
The Woolworths choice of repayment periods and interest rates are designed to make it easier for you to manage your personal finances.
Please note: The examples are provided for illustrative purposes only. The actual calculations for your loan will be shown on the Pre-Agreement statement and quotation.
Revolving Personal Loan
Flexible repayment terms of up to 60 months
Re-use all the money that has been paid back towards the loan
Low monthly service and initiation fees
Flexibility to increase your limit should you need extra funds
Flexibility to settle early without penalties
Flexibility to make additional payments towards your loan
Convenience of accessing cash through our interactive voice message system
Woolworths Personal Loan Pricing
Monthly Service Fee
Revolving personal loans: R32.00
Fixed term personal loans: Up to R53.00
Initiation Fee
Revolving personal loans: Up to R550.00
Collection Fee
Revolving personal loans: As per requirements of the Debt Collectors Act, No. 114 of 1998
Fixed term personal loans: As per requirements of the Debt Collectors Act, No. 114 of 1998
Optional insurance is available
For your peace of mind, Woolworths offers you a choice of two Balance Protection Insurance options, Basic Balance Protection and Comprehensive Balance Protection.
Cash In 48 Hours
Once the loan application has been approved, you will receive cash into your bank account within 48 hours.
Additional Funds
You can access cash on your loan account by contacting their call centre on 0861 50 20 10.
Interest
Interest will be charged according to the National Credit Act (NCA) and will never exceed the maximum allowed by the NCA.
The interest rate charged is a variable interest rate that is linked to the Repo Rate which may change from time to time.
Easy Payments
Payment by a monthly debit order is compulsory.
Additional payments can be made at any Woolworths store, deposited into any Absa bank branch or by Electronic Funds Transfer (EFT).
Electronic Statements
You can select to receive your monthly statements via email.
Easy Application
Just complete the application form online or apply in-store.
Peace Of Mind
Woolworths offers optional Balance Protection to cover you for death, retrenchment, critical illness and disability. Find out about your options.
To Qualify for a loan, You Must
Be 18 years of age or older
Have a valid South African ID
Be permanently employed
Latest three payslips or the last three months’ bank statements
Fincheck is a financial comparisons website that organises information to assist the borrower in making their best financial decision.
Fincheck gathers information from numerous banking partners and presents it to the borrower in a simple, understandable way. Lenders benefit from an additional market place and extensive customer reach. Loan amounts vary from lender to lender. Fees, interest rates, loan amounts and credit scores influence the repayment terms. Lenders require personal details to control their risk and assist the government to combat theft, money laundering, terrorism. Fincheck does not endorse any particular product or company. We are an independent company. The information shown and provided is an opinion, based on numbers and must not be seen as advice or consultation.
fincheck
