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Bayport loans are available to South Africans online and offer flexible amounts and terms.

This Bayport loans review will show you the key advantages and disadvantages of choosing this lender. 

WHO IS BAYPORT SOUTH AFRICA?

This company is a subsidiary of Bayport Management Limited, a multinational group founded in 2001 with headquarters in Europe, the Middle East, and Africa. The founders of the company are Grant Kurland and Stuart Stone.

The company was established in 2004. It’s now one of the largest non-bank providers of unsecured credit and consolidation loans, with numerous branch offices across the country.

KEY FEATURES

• Loan amounts: R1000 up to 250 000
• Repayment periods: 6 months to 84 months (7 years)
• Interest rate: Fixed interest rates from 20% based on your risk profile
• Loan types: Unsecured credit, personal loans, debt consolidation loans

PROS

✔️ Flexible loan amounts

✔️ Versatile application options

✔️ Fast approval

CONS

❌ Large number of negative reviews

WHY WE LIKE IT

Consumers in South Africa can learn more about money through The Bayport Academy. This free platform gives you access to financial tools, such as a budget calculator, and resources to help you better understand your credit report.

The lender also offers free financial wellness assessments for businesses. Companies who register for the employee wellness program get access to financial coaches and additional benefits for employees.

SUMMARY

This lender offers up to R250 000 with flexible repayment terms. You can apply for a loan online, via text message, and by contacting the call centre or a sales agent.

BAYPORT LOANS ARE BEST FOR YOU IF YOU:

• Need a larger loan
• Have a good to excellent credit score
• Want to consolidate debts

Full Bayport Personal Loans Review

Let’s take a deeper dive into how the loans work and whether you should apply with this credit provider.

Pros Explained

It’s a good option for long term borrowing

Qualifying borrowers can apply for up to R250,000, which is the maximum loan limit for most personal loans in SA. 

The large loan amounts are enough to cover several large expenses, whether you’re consolidating debt, covering wedding costs, home improvements or something else. You can spread out the costs and budget for them with one comfortable monthly repayment.

Different ways to apply

Not only can you apply for a Bayport loan online, but you can also call the lender’s call centre on 087 287 4000, send a text message via WhatsApp (087 240 5555), or contact a sales agent to kickstart your loan application.

Get a decision within minutes

Qualifying applicants can get instant approval, so you don’t have to wait long to get the money you need. The online loans platform is easy to use, and you can get a loan decision within minutes.

Cons Explained

More research is required before you apply

Bayport Financial Services may not be one of those loan companies you can trust at first glance. There appear to be scammers using the company name and offering Bay Port loans that require upfront payment. 

While it may not be the lender’s fault, it still means there’s a certain risk that comes with Bayport Financial loans. The burden of due diligence is on you to make sure you’re dealing with the real lender.

How Do Bayport Loans Work?

This lender charges a fixed interest rate, so you’ll have the same interest rate throughout your loan. The personal loans can fall under various categories as follows:

• Long term loans. Long term loans typically last for more than a year. This lender offers loans of up to five years or more.
• Short term loans. The lender offers short term loans with a minimum loan term of 6 months. Repayment periods are usually influenced by the loan amount. Generally, the smaller the amount, the shorter the repayment period and vice versa.
• Consolidation loans. The debt consolidation loans have flexible repayment periods and help combine your debt into a single loan with one monthly payment. A lower interest rate makes it easier to become debt-free and improve your financial health.
• Online loans. This simply means you can apply online via the lender’s website.

Is Bayport Financial Services Legit?

Bayport Financial Services is an authorised financial services provider registered with the National Credit Regulator. However, this credit provider appears to have many negative reviews on review sites like Hellopeter. 

This points to scammers because no legit lender would ever ask you to pay money for lawyer fees to draw up the loan agreement. If you’re asked to pay money to get a loan, it means you’re dealing with a copycat lender operating as Bayport Financial Loan Company. 

Make sure you apply via the official website, where your personal details are safe and secure. If you’re applying in person, always ask for proof of employment when you meet a new agent for the first time. Be diligent and do your research. Watch out for the following signs of scammers:

• The lender is not registered with the NCR and doesn’t have an operating license.
• The lender pressures you to sign the loan contract.
• You have to pay money before the lender transfers funds into your account.
• The lender hides their fees and interest rates from you.
• There are many bad reviews from customers complaining about predatory lending practices.

How to Apply for a Bayport Loan

Discover how the online application works and what you need to qualify.

Loan Requirements

You need these documents for your loan application:

• Valid South African ID
• Latest payslip
• Last 3 months’ bank statements stamped by your bank
• Proof of residence not older than 3 months

You also need to be at least 18 years of age with a stable monthly income. You must be employed at your current job for at least six months. 

Loan Application Process

The application process is straightforward. If you’re a new client, you must first register your account online for free, and then activate it via a simple verification process. After you verify your account, you can log in and fill out the online loan application form. 

Once approved, you must complete the remaining steps. This includes uploading the required documents and reviewing the terms and conditions of your loan contract before signing. If you would like to apply for a loan in person, you can use the branch locator to find the nearest location. 

You can also apply for a loan with RandWallet. Take advantage of our free loan comparison service and get offers to compare from our lender partners, who are all NCR-certified registered credit providers. Finding the right loan has never been easier! Once you accept a quote, all you need to do is finalise your application to get money in your bank account.

Bayport Loan Contact Details

📌Contact number. Self-service WhatsApp – 087 240 5555. Customer Service – 087 287 4003

📌Email address: clientcare@bayport.co.za

📌Physical address. 3 Alice Lane, Sandton, 2196 South Africa

📌Working hours: Monday to Friday (excluding public holidays) 08:30 to 17:00. Saturdays 08:30 to 13:00. 

Other Loans Like Bayport

Consider similar lenders to widen your options:

• Direct Axis Loans. Up to R300 000 with repayment terms of up to 72 months.
• African Bank Loans. Get a long-term personal loan up to R350 000 at a low rate.
• Supreme Finance Loans. Apply for loans from R500 to R20 000 with flexible repayment terms.

Frequently asked questions

Watch Video: Bayport Financial Services South Africa

Our Research Expert

Gracie Makowe

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Gracie Makowe is a full-time personal finance writer with 10 years of experience and a Bachelor of Commerce in Financial Management from UNISA. Learn more.