Features Benefits. Whether youre looking for extra cash for car repairs, your studies or even a wedding, trust RCS to make it possible. An RCS Loan gives you access to: A cash loan from R2 000 up to R150 000 Fast, paperless application process Decision in seconds Cash in your account within 24 hours Flexible repayment options; choose from 12 to 60 months Free monthly statement via email or SMS Customer Protection Insurance Representative example: Loan amount of R7,500 borrowed for 24 months.
Annual Interest Rate: 27. Initiation fee (charged upfront): R480. Monthly service fee: R69 Total Amount payable: R12 929. Fees are subject to change and will be affected by customer risk profile.
WhiteRockLoans. com has no knowledge of or control over the loan terms offered by a lender. You are urged to read and understand the terms of any loan offered by any lender, whether tribal or state-licensed, and to reject any particular loan offer that you cannot afford to repay or that includes terms that are not acceptable to you.
Late Payments Hurt Your Credit Score. Please be aware that missing a payment or making a late payment can negatively impact your credit score. To protect yourself and your credit history, make sure you only accept loan terms that you can afford to repay. If you cannot make a payment on time, you should contact your lender immediately and discuss how to handle late payments.
Can online payday loan company sue me.
Chris Thetford, with the Better Business Bureau (BBB), talked with Elliot Weiler, advising consumers to be aware that many payday lenders charge high interest rates, set unaffordable payment terms and use high-pressure collection tactics that can make these debts impossible to pay off.
A 2013 study by the Consumer Financial Protection Bureau shows that payday loans' interest rates averaged 339 percent. In Missouri, payday loans averaged more than 400 percent, according to state finance officials, and some rates exceeded 1,000 percent. Payday lenders tend to target people whose credit may not be good enough to obtain a credit hdfc personal loan balance amount statement or bank loan and who therefore rely on advance short-term loans to get by.
What most borrowers don't realize is that the high interest rates on these loans can trap them in a debt cycle that forces them to renew the loan repeatedly, paying associated fees every two weeks until they can finally save enough to pay off the principal and get out of debt.
Before you decide to take out a payday loan, consider alternatives such as small bank loans, credit counseling and credit cards. For those without these options, BBB offers the following tips: Start with trust.