Short-term credit covers anything from about six months to a few years. It sits between a payday advance and a personal loan: larger than the first, quicker and smaller than the second.
How the term changes the cost
Shorter is cheaper in total and heavier per month; longer is lighter per month and more expensive overall. On identical amounts and rates, a 3-month term costs a fraction of what 12 months costs — but the instalment is roughly four times larger. Choose the shortest term whose instalment you can genuinely cover, not the shortest you can imagine covering.
What providers ask for
Identity, a South African mobile number, your income and how often it arrives, and your bank details. Many read three months of bank statements electronically with your permission, which is how they verify what you have told them.
Where Finpandas fits
We are not a lender. One application on this site is checked against the registered credit providers on our panel, and you are handed to the one most likely to work with your profile. There is no fee to you, and no obligation to accept anything you are offered.