WesBank CashPower Personal Loans are administered and managed by DirectAxis – a business unit of FirstRand Bank Ltd, an authorised Financial Services and Registered Credit Provider.
Product Summary
Loan Amount: From R5 000 up to R200 000
Repayment Terms: Range from 24 to 72 months
Interest Rate: The maximum interest rate with regards to a WesBank CashPower Personal
Loan is 24.50% per annum (compounded monthly).
Illustrative Example
Loan Amount: R60,000-00
Repayment Terms: 72 months
Interest Rate: 24.50%
Initiation Fee: R1,207-50 (Once-off)
Monthly Admin Fee: R69.00
Total Cost of the Loan: R137,754-32 (which is a fixed Annual Percentage Rate (APR) of 32.76%)
Please note this is just an illustrative example of what it would cost you. Your rate and initiation fee will be determined according to your personal risk profile. To get an accurate quote we recommend getting a quote from WesBank.
What You Kneed To Know About WesBank CashPower Personal Loans
All loans are subject to credit approval. This means you do not automatically qualify for a loan but WesBank will need to do a credit assessment on you to see if you qualify for a loan.
With repayment terms ranging from 2 to 6 years it means you can select terms that are suitable for you. The longer the term the more the interest you will pay.
You get a guaranteed fixed interest rate based on your credit profile. This has a benefit of fixed monthly payments meaning your monthly repayments will not change when the Rand fluctuates.
No security or collateral is required in order to get a WesBank CashPower personal loan.
You can use your personal loan to pay for medical bills, studies, car expenses and more. How you use the loan is up to you, but we encourage you to use it wisely. In fact, you should only take a personal loan when you are in absolute need of it.
Are you unsure of what amount to get and the terms to select? Make use of the loan calculator on the WesBank website and see which terms best suit your needs.
If you are married in community of property or in terms of customary or foreign law, you are required to obtain consent from your spouse to enter into any credit agreement.
One important thing included with a CashPower loan is Customer Protection Plan. This covers your personal loan debt in the event of unforeseen circumstances such as dread disease, death, disability or retrenchment.
What You’ll Need To Apply For A Loan
- You must be 18 years or older and a clear copy of your ID document
- Monthly income of at least R5 000
- Proof of income in the form of 3 months banks statements / payslips
- Details of the account into which your salary is paid
- Proof of address
If I meet the above requirements how do I apply?
Application for a personal loan can be done online by completing the online application form.
Alternatively, you can apply on the phone. Call this contact number: 0861 238 252 and speak to a friendly consultant. The consultant will ask for personal information to check if you qualify for the WesBank CashPower personal loans.
Wesbank Contact Details
For more information on CashPower personal loans you can contact WesBank directly using the details below.
Website: www.wesbank.co.za
Telephone: 0861 238 252
Head Office
WesBank
Enterprise Road
Fairland
2170