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What to Know About Southern Finance in SA
Are you looking to apply for a loan online with Southern Finance? Learn how it works before signing on the dotted line.
Key Takeaways
✔ Southern Finance loans offer up to R7 200 over a maximum repayment term of 3 months.
✔ If you need a short-term loan from a registered payday lender, this option might be right for you.
✔ Borrowers can also explore other options using RandWallet’s free loan comparison service.
✅ How Much Do You Need?
About This Lender
Southern Finance Loan Company is a credit provider accredited with the National Credit Regulator (NCR) (NCRCP11981).
The company was registered in 2019 under the trade name Southern Cross Finance (PTY) LTD.
How Does It Work?
This lender specialises in short-term loans of the following nature:
- Loan Amounts: From R800 to R7 2000
- Repayment Periods: 1 month, 2 months, or 3 months
- Interest Rates: The maximum annual percentage rate is 30%
- Representative Example: If you borrow R1500 over 30 days, the total repayment would be approximately R1 995.
Benefits of Southern Finance
✅ Easy Online Application
This lenders offer quick and easy payday loans via an innovative and responsive online platform.
✅ Same Day Payouts
You can expect the funds to be deposited in your account within 24 hours.
What’s more, you have the option to pay an extra fee if you wish for an immediate same-day payment that reflects in your bank account instantly.
✅ Bad Credit Borrowers Are Considered
Southern Finance says it may still consider your loan application even if you have bad credit.
You are more likely to be approved if you can provide sufficient proof of your ability to repay the borrowed amount.
What Can Be Improved?
Southern Finance Loans are only suitable for people looking for short-term loans for emergencies.
Be sure you can afford to repay the loan on time because late payment will result in an extra R69 service fee and additional interest of 5% per month.
Loan Requirements – What You Need to Apply
- Must be a South African citizen
- Above 18 years of age
- Must be employed with a regular salary
- Have a valid South African bank account
Application Process
To apply for an online loan with Southern Finance, simply follow these steps:
Figure Out the Details of Your Loans
Visit the lender’s website and use the sliders on the online loan calculator to choose your desired amount, repayment terms, and total repayment amount.
Fill in the Required Form
Register an account to continue. Then, provide more details about your personal and financial circumstances by filling out the required form and uploading the necessary documents.
Required details include:
- Contact details;
- Employer details;
- Breakdown of income and expenses; and
- Banking details
Get Money In Your Bank Account
Once approved, the lender will transfer the funds into your bank account within 24 hours.
Southern Finance Contact Details
📌Phone Number: 012 941 1572/ 012 534 3416
📌Email Address: info@southernfinance.co.za
📌Physical Address 1: Unit 14, Kingfisher Building, Hazeldean Office Park, Silverlakes Rd Tyger Valley, 0084
📌Physical Address 2: Southern Cross Finance – Killarney Gardens, Killarney Park
📌Physical Address 3: 380 Haizyview Street Fairie Glenn MORELETAPARK 0081
»LEARN MORE: Private Lenders in South Africa
Our Research Expert
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.