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90 days Payday loans with no credit check – What you should know

April 13, 2022 by hakeem

Do you need a payday loan but scared your poor credit history might hold you back from getting your loan application approved?. With this form of loan, you have access to apply for a payday loan with no credit check. Lenders of such products base their decision on your income, employment, and bank statements rather than your credit history. If your application is successful, you could access funds in a brief period.

What does the term “no credit check” mean?

The term no credit check entails four different facts. These facts efficiently illustrate the meaning of this credit term;

  • The lender will not request your credit report from a credit bureau. 

At its most basic level, this is what a no credit check loan means. During the process of assessment, the lender will not request your credit report from a credit bureau to check your borrowing history.

  • The lender will list the loan details on your credit file.

While the lender does not check your credit report, it informs the credit bureau you applied for a loan. If you are approved, the provider will also list the loan on your credit report.

  • The loan provider will check your bank statements. 

The lender only uses the last few months of your banking history to judge whether you can afford the loan. During the assessment, they can check your income, expenses. If your account has been in arrears during this time (this is an indicator of financial stress).

  • You need to earn an income.

You need to prove you can afford the loan by providing evidence of employment or any other ongoing payments.

Am I eligible for a 90 day Payday loan?

To be eligible for a 90 day Payday loan, few criteria needs to be met. Some of these criteria are listed below;

Before applying for a 90 day Payday loan, you must;

  • You must be at least 18 years old.
  • You must receive a regular income.
  • Applicants may need to show you earn at least 50% of your income from an alternative source.
  • You might be required to provide read-only access to at least 90 days of bank statements. If you would prefer to submit hard copies, this will impact the turnaround time.
  • Lenders may want to know whether you have outstanding loans or other outgoing expenses, such as credit card payments or rent.

Checking all these criteria and ensuring you meet all of them puts you a step closer to getting your loan application approved.

How do I apply for a 90 days Payday loan?

Applications are usually submitted online and approved quickly. If you meet the criteria and supply all the information, the lender often makes a same-day deposit into your account.

Remember, the application process may differ, depending on the lenders. Most credit facilities requests for read-only access to bank statements from the last 90 days. Details about your job or other income streams and how much you earn are also important.

If the lender approves the loan, the agreement will detail the agreed amount and other loan terms and conditions. It’s essential to read and understand this contract, especially the information about what happens if you can’t repay the no credit check loan.

Loan providers that offer 90 days Payday loans in South Africa

Here is a quick list of companies that offer 90 days payday loans with no credit check;

  • Dotloans.co.za

Dotloan.co.za is one of the best loan providers that offers 90 days loans. They offer easy and convenient; they do not offer no credit check loans. So do you need a 90 days payday loan, quickly hop on their platform and apply for the loan amount of your desire.

  • Easy Payday Loans

Easy Payday loans operate with a team of highly trained personnels and a combination of machine and technology. They’ve built the platform uniquely to serve their clients, even clients with bad credit. Applicants can get a payday loan up to R2500 within 24hours with no credit check.

  • Rodecofinance.co.za

Get access to payday loans with no credit check almost immediately with Rodeco Finance. They act as financial intermediaries. Rodeco finance is always available to hook you up with a credible lending institution that will provide your loan amount. With a Rodeco Finance, you don’t have to be running around sourcing for the best loans for your needs.

  • Mazuma Loans

Here is another wonderful emergency payday loan option. Mazuma loans. Mazuma Loans is a trusted and specialist loan broker that assists people who urgently need cash. They also focus on people that have either been previously declined by other banks, have a poor credit record.

 Other financial providers that offer 90 days payday loans with no credit check include;

  • Hoopla loans
  • Payyay.co.za
  • Hoopon loans
  • Game credit

Before actually applying for any of these loans, be sure to do your personal check on the terms and conditions of each of the companies. It’s wise to weigh all the options and choose the best of them. 

Must Read: How To Get Fast Loans In South Africa Without A Payslip.

Conclusion

If you find yourself in a financially tight corner and in dire need of credit service but scared of being denied a loan, do not give up hope. There’s a score of financial service providers out there that will provide you with the finance you need. 

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