When financial emergencies occurs, getting a loan from any financial institution could be the best option. When deciding on a loan, hopon loans could be an appropriate choice. In this article, we discuss the requirements and application process for Hopon loans, as well as the interest rates.
About Hopon loans
Hopon Loans is a registered, trusted, and reliable South African lender that offers a wide range of flexible and affordable loans. Loans at Hopon are centered around excellent customer service and fast turnaround time. By doing so, they can provide the best customer service possible as quickly as possible.
National Credit Authority (NCA) regulations govern Hopon Loans’ operations. In this way, the consumer is ensured that granting the loan will not cause financial hardship for him.
Types of loan they offer
What are the requirements for Hopon loans?
Even though Hopon loans provide flexible and affordable loans. They organize the Hopon loans very well. You can’t get a loan that is more than you can afford to repay. Therefore, they have the following requirements before they can offer you such a loan.
To qualify for a Hopon loan, you must meet the following requirements;
- You need to have a South African Identity Document with a South African ID number.
- Be between the ages of 22 and 60 years old.
- You must have full-time employment & be able to provide proof of this through salary or payslips.
- Have a personal bank account which bears your name.
- You must have your own email address and cell phone number.
What is the minimum and maximum amount of loan to borrow?
Whenever customers need a loan, they always look for the amount of loan available. Here, Hopon’s minimum loan amount is R5,000. Whereas the maximum amount of loan is R50,000. The loans have a maturity date from 7 to 36 months. This gives the customers enough time to meet up with the loan repayment.
How can I apply for the Hopon loans?
It is important to know how to apply for a loan that you really need. This will guide you to meet up with any form of deadline and get your loan as fast as possible.
You can apply for the Hopon loans by doing:
- If you don’t want to apply online, you can visit their office to get your loan.
- You can apply for a fast loan 100% online. Visit their website with your smartphone, tablet, or personal computer. You can do this from wherever you are or when you want and get your loan.
On their web page;
- Select how much money you want to borrow and over what term on the homepage slider and click “Apply Now”
- Complete the simple online application.
- You must accept the offer and agree to the terms and conditions if your loan is provisionally approved
- Submit your 3 most recent bank generated PDF statements online
- You will receive your cash directly into your bank account if you pass the final checks
- Each month, your repayments will be automatically deducted from your bank account
- Now go and make “It” happen
- They will automatically debit the repayment you will make from your bank account on a monthly basis.
Hopon loans will always make the money to achieve your goals available to you.
What are the interest rates?
Hopon loan offers have interest rates just like loans from other financial institutions. They keep these interest rates to continue making the loan services available to the South African public.
The interest rate of Hopon loans is from 63 to 112% per annum.
A representative example
The Annual Percentage Rate (APR) ranges from 63% to 112%. A representative example of this is: on a loan of R15 000 over 15 months at a maximum interest rate of 28%, maximum fees of R68.40pm, credit life fees, maximum initiation fee of R1 197 inclusive of VAT comes to a total cost of R22 717 which equals an APR of 68%.
How fast are funds released?
Fund releases usually differ from one financial institution to the other. The modes of application for the loans and the procession in these financial institutions might be the cause.
But for Hopon loans when you apply, you get an instant credit decision. This means that you could have money in your bank account in a matter of minutes.
Hopon contact details
You can make further inquiries on their website. You can also quickly contact Hopon loans office representative through the following contact details:
1 . Contact Number – 0860 467 467
2. E-mail – firstname.lastname@example.org
3. Website – https://www.hopon.co.za/
Other Related articles
- Personal loans in South Africa – : How to access them and all you need to know
- How to qualify for a home loan in South Africa explained
- African Bank Personal and Business Loans – What you should know
Hopon loans are offered in a very flexible but responsible manner for the customers. They always make sure that you can afford the loan you are applying for before it gets approved. This shows they ensure that every customer doesn’t have difficulty in paying back their debt.