How to Apply for your CashPower Personal Loan
Wesbank is a highly integrated lender in South Africa that is well known for helping people by lending money to those who require personal loans for any of their needs. Who doesn’t need a hand when it comes to money?
Especially, if your income is not enough, or if you are the only source of income for your family or there could be many more reasons.
Everyone has a dream to fulfill, whether it be to own a home, study abroad, purchase a dream car, or start a business.
Benefits of CashPower Personal Loan
CashPower personal loans by Wesbank allow you to fulfill your dreams by lending you a huge amount that can be fit to serve any purpose.
But, why is Wesbank recommended over other lenders? Here is why:
Easy to repay:
- Wesbank doesn’t just allow you to receive a huge amount of up to R300,000 as a personal loan, but it also offers easy ways to repay the amount by following lenient rules. You can easily repay amount the installments of 2 to 6 years, it depends on your convenience.
Customer protection plan:
- WesBank offers customer protection plans that make sure that you and your family don’t face any financial crisis in case of being unable to pay the loans due to some unfortunate or unforeseen events. All you have to do is contact WesBank South Africa to follow the way to reach your goal.
Fixed monthly payments:
- Another good thing about WesBank lenders is that you will have to repay fixed interest rates, which will never change no matter the circumstances, isn’t that great?
Unsecured personal loan:
- All you need to apply for a loan is to have a monthly income of at least R5000. No need to have collateral for your loan, your creditworthiness is all that’s required for being eligible for a loan. This unsecured personal loan offer allows every individual to be eligible for CashPower personal loans.
Loan stimulation
It may sound enticing to you that you can apply for your loan online and right now without moving from your couch, but there are things to know beforehand. You must have started thinking about the long-forgotten passion you once wanted to follow but circumstances and finance wouldn’t let you do that.
Now that you are earning but you still don’t have enough to follow your dreams, here comes CashPower Personal loans to make your life better.
Requesting your personal loan will be a piece of cake if you know more about the criteria and your creditworthiness. It is important to do everything before you request yours. If you apply for your loan and you are eligible for it then you can proceed further with it.
Requirements for a CashPower Personal Loan
If you want to apply for the CashPower personal loan then you must have a monthly income of at least R5000. WesBank offers unsecured loans which is why there is nothing else that you need to have as collateral.
Everything that’s required to prove your creditworthiness is your monthly income and the stability of your job. You would also require proof of address, and proof of income as well as your valid ID.
Step by step guide on how to apply for a loan
Applying for a CashPower personal loan is not a difficult task. WesBank cares about their clients and they make sure to make it as easy as possible for their clients to apply for their loans by filling out the application form right at your home.
Here’s a step by step guide on how to apply for your loan:
- Step 1: You can find out the application form on the official website of the WesBank. If that seems like a task to you, you can simply click here.
- Step 2: Once you find out the application form, it’s time to fill out the form, and you will be guided step by step to fill the form.
- Step 3: It’s time to prove your identity that you are a South African resident and your creditworthiness. You must know that you need to be earning R5000 monthly to be able to apply for the loan.
- Step 4: It’s time to verify your identity. You will be asked for your national ID card, so you must have a clear copy of your ID document to upload.
- Step 5: To prove that you are earning the required amount, you need to attach proof of income which can be a bank statement of up to 3 months or a payslip would work.
- Step 6: Once you are done attaching all the documents, it is now time to agree to all the rules and regulations, make sure you read them beforehand and then submit your application. The administration will get back to you with further information in no time.
About WesBank
Online lenders have revolutionized the personal finance landscape in South Africa. No more enduring lengthy queues, completing extensive paperwork, or providing countless supporting documents.
Companies like WesBank streamline the lending process, catering to various credit needs without the hassle. For all your loan requirements, WesBank stands out as the preferred choice.
With a track record of overcoming obstacles and fulfilling commitments, WesBank brings a wealth of experience to the lending industry.
Positives and negatives of the loanees
Positives:
- Fixed repayment: Fixed repayment amounts every month let you manage your finances easily.
- Transparency: There are no underlying charges. WesBank is transparent about their costs so you can plan everything up ahead.
- Quick funds: You will be able to access your funds quickly, they don’t make you wait until your problem resolves. You need the money; you get the money.
Negatives:
- Limitations: There could be a few limitations depending on your creditworthiness about how much amount you can receive or repayment terms.
- Interest: Getting quick and easy funds is the real thing at WesBank, but there is an interest that can be bothering, most likely increasing the overall repayment cost.
- Risk: Clients get access to easy funds so if you are not cautious you may be led to excessive borrowing that could trouble you dealing with finances in the long term.
What other loans are offered by WesBank?
WesBank extends a range of loan options to suit diverse financial requirements:
- Vehicle finance: WesBank facilitates financing solutions for the purchase of new or used vehicles, encompassing cars, motorcycles, and commercial vehicles.
- Asset finance: This service enables both individuals and businesses to finance the acquisition of assets like equipment, machinery, or technological resources.
- Home loans: WesBank provides mortgage financing solutions for individuals seeking to purchase or refinance residential properties.
- Business loans: Customized financing packages cater to businesses aiming to expand, invest in new equipment, or manage cash flow effectively.
- Consolidation loans: WesBank offers consolidation loans to assist individuals in consolidating multiple debts into a single monthly payment, potentially reducing interest rates.
These loan products represent a portion of WesBank’s offerings, each meticulously crafted to meet the unique needs of its clientele. Click here to find out more.
CashPower Personal Loans fees
WesBank CashPower Personal Loans feature interest rates ranging between 19.25%* and 29.25%* per annum (compounded monthly) as of May 2023. Your specific rate will be determined based on your financial circumstances. All loans entail both an initiation fee and a monthly service fee.
For instance, a loan at an interest rate of 24.50% per annum, considering a loan amount of R60,000.00, an initiation fee of R1,207.50, and a monthly service fee of R69.00 over 72 months, would incur a total cost of R137,754.32, representing a fixed Annual Percentage Rate (APR) of 32.76%.
Customer service
WesBank offers efficient customer service so if you need any assistance or updates, or you have a query, you can always look up to their customer service.
You can reach their customer representative through email, or contact number. All the contact details are mentioned here.
App WesBank
WesBank has launched its mobile app for ultimate convenience. You can apply check all the updates about your application form, get more information, and receive daily notifications about new offers, and packages, etc. The access to your online money lender is just one click away. WesBank Mobile App
Final words
CashPower Personal Loan is one of the best services provided by WesBank. It makes it easy for the residents of South Africa to work their passions. They can now easily invest in their goals by applying for personal loans.
But it is important that if you are going for this opportunity, be cautious and request only as much that can be repaid without any trouble.
Discover other personal loans on our website and also options for financing your home, car and studies.