Tymebank Personal Loan can be the right credit product for your situation. Whether you need a cash advance for a planned task, such as starting a business, paying for school fees, buying a house or a car, or for an unplanned task or emergency, like paying for medical expenses or fixing your car or home, it can be the right choice.
Tymebank in partnership with TFG Money they have come up with the Tymebank Personal Loan this credit product is very affordable and safe, you can borrow a loan amount starting from a minimum of R1000 up to a maximum of R20 000 and the repayment terms for every loan amount is 3 months, 6 months and 9 months and interest rate for every loan amount is 26,25%
Representative Example: if you borrow a loan amount of R20 000 for 9 months you are going to pay R2723,85 every month and in total, you are going to pay R24514,65 this estimated total includes a service fee of R60, initiation fee of R1207,50 and credit insurance of R377,92
Tymebank Personal Loan Eligibility Criteria
To be eligible for a Tymebank Personal Loan you must meet the following eligibility requirements:
- Must be a South African citizen with a Valid ID Number
- 18 years or older
- Permanently employed or Self-employed
- Valid email address and cell phone number
- Have an active Internet banking account
Required Documents When Applying
Unlike other credit providers or financial institutes, Tymebank will only require you to provide documents that show you do receive income, which are recent three-month bank statements. You will be required to submit these documents when applying for verification.
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How To Apply For The Tymebank Loan
You can apply for a Tymebank Personal Loan online on their website or by using the app, you can only apply for a credit online and you are going to follow these 5 simple steps:
- Choose the loan amount you desire and the repayment term
- Check if you qualify by clicking the “Check If I’m Eligible” button
- If you qualify for the loan you be required to submit the documents mentioned above
- After submitting your documents you will have to sign the online contract
- Once you follow all the steps accordingly you will then get your money straight to your bank account
Note That: you will not qualify for the Tymebank Personal Loan if you have a bad credit history or credit score and if you are under debt review or insolvent (unable to pay debts that you owe)
Benefits of Tymebank Personal Loan
Tymebank offers personal loans with benefits unlike any other loan lender
- You can apply online no need to waste time and money visiting a branch
- No paperwork is required
- Transparent you know how much you gonna pay before starting the application process
- Considered to be the cheapest and most affordable personal loan in South Africa
Contact Details
Want to get in touch with Tymebank to get more information about their credit product you can use the following details:
- Phone: 0860 999 118
- Email: service@tymebank.co.za
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