FAQ: What is the difference between a personal and short term loan?

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A Personal Loan is repaid over a maximum term of 72 months and a maximum amount of R250,000. A Short Term loan is repaid over a maximum of 6 months and a maximum amount of R8,000. A Short Term loan is commonly known as a Pay Day loan and lenders often require you to repay the loan on the day of your next pay cheque.

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Fincheck is a financial comparisons website that organises information to assist the borrower in making their best financial decision.

Fincheck gathers information from numerous banking partners and presents it to the borrower in a simple, understandable way. Lenders benefit from an additional market place and extensive customer reach. Loan amounts vary from lender to lender. Fees, interest rates, loan amounts and credit scores influence the repayment terms. Lenders require personal details to control their risk and assist the government to combat theft, money laundering, terrorism. Fincheck does not endorse any particular product or company. We are an independent company. The information shown and provided is an opinion, based on numbers and must not be seen as advice or consultation.