Wonga loans are short term loans that can help you manage your cash flow and give you back control.
The term Wonga came from the slang term for cash or money, used in the UK and especially in London.
In this article, we are going to look at how much you can borrow from Wonga. Also, we will look at why use Wonga when you need a personal loan and what the requirements are.
Let’s get started.
Wonga Loans Overview
New customers can apply for up to R4 000 with 3 months to repay.
Existing customers up to R8 000 with up to 6 months to repay.
When you take a personal loan from Wonga, you’ll be charged an initiation fee. In addition, you’ll also be charged R69 per month service fee depending on how long you take out the loan for.
For example, if you take out a loan for R4 000 over 3 months, with a repayment date of the 25th your fee breakdown could be as follows:
Total to repay = R5300.97 or 3 equal instalments of R1766.99
Initiation fee = R534.75
Service fees = R230.00
Total fees = R764.75
The above is just an illustrative example. If you wish to borrow a different amount you can make use of sliders on their website to get an indication of how much your loan will cost you.
REMINDER: Whenever you apply for a personal loan, approval is subject to credit checks. Furthermore, how much is approved depends on your credit record and affordability.
Why Use Wonga?
Wonga is different from other online lenders because their sophisticated risk and decision technology means the application and approval process takes literally minutes.
There’s no paperwork, no need to meet with a bank manager and no sitting for hours on hold on the phone – their entire service is online and real-time.
In addition, Wonga is transparent. There are no hidden charges. They make all fees completely clear upfront before you apply.
Also, their flexibility makes them an attractive credit provider. They allow applicants to choose exactly how much cash they want to borrow and for how many days they need it.
Another reason is that they lend responsibly, treat their customers fairly, and help people make sense of their money.
Wonga Loans Online Application Form
To apply for a loan, you’ll need to create an account online.
The application process is simple and easy to understand.
What you’ll need:
- A cellphone number
- SA ID number
- Bank account details
- Most recent proof of income
How to apply:
- Choose the amount you need
- Choose how long you will need to repay
- Click “Apply Now” and proceed to finalise your loan
- Complete the secure wonga loans online application form
- Wonga will verify your income
- The money is transferred to your bank account
Wonga Contact Details
For more details you can contact Wonga directly using the details below.
Telephone: 0861 966 421 (08:00 – 18:00 Monday to Friday, and Saturdays from 08:00 – 13:00)
14 Kloof Street, Gardens,
Cape Town, 8001,