Nifty loans are powered by smartadvance, a registered online credit provider. They offer personal online credit up to R12 000, payable over a maximum period of 12 months.
Sometimes things happen in life and you might find yourself in a tight spot where you need financial assistance. You can get yourself out of this tight spot by applying for Nifty loans which are easy, quick and safe to get.
In this article we are going to discuss a few things you need to know about these online loans. In addition, we will also take a look at how you can apply.
What You Need To Know About Nifty Credit
Maximum loan amount is R12 000. You choose the amount that best suits your needs.
Repayment period is flexible with minimum of 3 months and maximum of up to 12 months allowed.
How much is approved will depend on your individual credit record and affordability. This means when you apply for a loan Nifty will do necessary background checks and affordability assessments to make sure you can afford the loan.
Also, as a responsible lender, Nifty will only approve a loan that you can afford.
Because they are registered and regulated by the National Credit Regulator (NCR) they abide by their laws. Therefore, as a client you can expect to be treated with respect and transparency at all times.
How you use the Nifty loans once approved and in your account is entirely up to you. However, some of the uses have been as an emergency loan and general consumption.
Some people use these loans as education loans, furniture loans and household expense loans.
As with any credit provider its always important to ask the question, why Nifty? One important reason is that they are a credit provider that helps you manage your money better.
Besides that, they promise transparency, simplicity and empowerment whilst delivering a superior customer experience.
Are there any disadvantages of Nifty? You will not qualify for a loan if you are self employed and if you are placed under debt review, administration or sequestration.
Nifty Loans Interest Rates
Minimum APR:24.5%. Maximum APR:60%.
Representative example of loan:
Loan Amount: R15 000
Loan Term: 12 months
Interest: Annual Percentage Rate (APR) of 24.50%;
Total Interest and fees of R5 065.10 (includes all interest, fees, VAT and credit life insurance)
Monthly Instalment: R1 672.09
Total Cost of Credit Payable: R20 065.10
Maximum Credit Cost Multiple: 1.25.
Should a client wish to pay up his loan before his term ends, he/she will be able to do so without any penalty fees. Interest and fees outstanding will thus be calculated pro-rata.
To get an idea of how much a different amount would cost you can make use of the Nifty loan calculator which is found on their website. However, it’s important to know that it can only be used as a reference. An accurate loan offer will be given by Nifty after they have calculated your affordability.
How To Apply
Nifty loans application is done completely online and takes just a couple of minutes to complete.
You will need to register for an account via the Nifty website to start off your application. This will be followed by online checks and affordability checks followed by quotation and application.
Online application gives you the convenience of being apply to apply for your from anywhere and at any time that suits you.
Some have asked the question is my information safe a secure? You can have peace of mind knowing that any information between you and the Nifty website is encrypted and secure. Most importantly, your information will not be shared with any third party unless you give your consent.
What is required to apply? You need to be 18 years or older with a valid ID or passport. Along with your application you will need to upload 3 months bank statements. Another important requirement is that you need to be permanently employed for at least 3 months.
Application Tip: Make sure you will in all details accurately to avoid delays in your application.
Nifty Loans Contact Number
To get more information on Nifty loans you can contact them Nifty South Africa directly using the details below.
Website: www.niftycredit.co.za
Telephone: +27 12 045 0606
Email: info@niftycredit.co.za / customercare@niftycredit.co.za
Nifty Loans Address
The Wedge, 1st Floor
43 Garsfontein Road,
Waterkloof,
Pretoria, 0145