Is it Dangerous getting an Online Loan?

Mar 07, 2016
Author: Ean Barnard

The internet was developed to help humanity. And so it has advanced that an online loan can now be a financial bridge towards a need voiced through the internet. Both these concepts were never designed to be dangerous. These things are however never to be toyed with - the same way that a car isn’t dangerous until you start driving it recklessly.

An Online Loan is an Opportunity

Online loans are wonderful opportunities to people who don’t have immediate access to a physical bank. Pay Day loans have saved many people from very tricky situations. That is what makes Pay Day loans so attractive. The fact that you can apply for an online loan and with lightning speed you can have access to that financing, is amazing. Due to online loans, prospective students now have the power to do multiple loan comparisons on one computer.

Online loans can become dangerous when ill-advised people start looking for loans though. The usual recommendations would be to not click on pop-up ads and such, which is also why Fincheck is here. We have your welfare at heart. When you succeed, we succeed at our mission. We want to show people their financial options and help them make better financial decisions! That being said, what does a safe online loan look like?

Some signs of safe online loans:

  • The credit provider is registered with the NCR (the National Credit Regulator).
  • The credit provider is either a reputable institution or it is part of a trustworthy body like the Banking Association of South Africa.
  • The Credit Provider is interested in your credit score.
  • The institution has a real world presence online and on maps like a physical address or actual branches.
  • The news and the web report the company as a stellar institution.

Online loans in South Africa are safe. South Africa actually has a high international ranking when it comes to banking and financial services. So don’t be alarmed. Now you know it's safe, let Fincheck help you with some online loan comparisons with a visit to the Fincheck loan comparison page.

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