Woolworths Personal Loans is the simple way to get the cash you need for the things you need and the things you want. No hassles. And no fine print. What’s more, a Woolworths Personal Loan is an “unsecured” loan, which means you don’t even have to provide security or have someone co-sign the loan for you.
If you can answer “yes” to the following questions, you probably qualify for a Woolworths Personal Loan:
* Are you over 18 years old?
* Are you permanently employed?
* Do you earn at least R2000 per month?
* Do have a bank account?
* Do you have a good credit record?
* Do you have a valid South African Identity Document?
Your Woolworths Personal Loan gives you the convenience of:
- Woolworths Personal Loans
* Automatic repayments – your monthly repayment is automatically debited from your bank account on the day you choose.
* Monthly statements – you’ll receive a monthly statement detailing your outstanding balance and payment due to keep you up to date.
* No penalty for early settlement – there are no penalties for early repayment so you can save on interest by making additional payments at any time.
* Low monthly fees – there are no initiation fees and no transaction fees. A R10 per month service fee will be charged and will be shown on your statement.
Two types of loans are available.
Fixed Term Personal Loan gives you:
- a choice of 12, 24, 36, 48 or 60 month repayment periods each time you borrow.
- fixed repayments so you can plan and budget accordingly.
- the opportunity to re-apply once your loan is settled.
Revolving Personal Loan gives you:
- a choice of 12, 24, 36, 48 or 60 month repayment periods each time your borrow.
- the ability to withdraw a minimum loan of R1 000, increasing in multiples of R500.
- the opportunity to re-use money that has been paid back towards the loan.
- the convenience of being able to access cash through our easy interactive voice message system.
A choice of repayment periods
The choice of repayment periods and interest rates are designed to make it easier for you to manage your personal finances. Please note: the following examples are provided for illustrative purposes only. The actual calculations for your loan will be shown on the pre-agreement statement and quotation.
Loan payment table*
For illustrative purposes. Only on new personal loan applications.
|
Amount borrowed
|
Repayment Table
|
||||
|
12 months
|
24 months
|
36 months | 48 months |
60 months
|
|
|
R4 000
|
R 374.57
|
R 207.71
|
R 152.97 | N/A |
N/A
|
|
R10 000
|
R 936.43
|
R 519.28
|
R 382.42 | R 315.60 |
R 276.76
|
|
R20 000
|
R 1,872.85
|
R 1,038.55
|
R 764.84 | R 631.21 |
R 553.52
|
|
R30 000
|
R 2,809.28
|
R 1,557.83
|
R 1,147.27 | R 946.81 |
R 830.27
|
|
R40 000
|
R 3,745.70
|
R 2,077.10
|
R 1,529.69 | R 1,262.42 |
R 1,107.03
|
|
R75 000
|
R 7,023.19
|
R 3,894.57
|
R 2,868.17 | R 2,367.03 |
R 2,075.68
|
* The figures shown above are approximate and will vary according to interest rate fluctuations. Terms and conditions apply.
The figures are applicable to new personal loan applications.
Approval is subject to company risk and affordability criteria
The instalment is calculated at an interest rate of 22.1%
The instalment excludes the monthly service fee and optional balance protection insurance
The interest rate charged for both Revolving and Fixed Term Personal Loans will not exceed the maximum allowed by the National Credit Act.