If you do decide to take out a personal loan online, make sure you do so with a qualified-well known bank as you can often find competitive low interest rates. The application process will take longer as more information is needed such as your employment and income information. Banks may even want to see your tax returns. Common Loan Terms. Acceleration A clause within a loan agreement that protects the lender by requiring the borrower to pay off the loan (both the principal and any accumulated interest) immediately if certain conditions occur.
Borrower The individual or company receiving i need a cash loan right now from the lender which will then have to pay back the money according to the terms in the loan agreement.
Collateral An item of worth, such as a house, is used as insurance to protect the lender in the event the borrower is unable to pay back the loan. Default Should the borrower default due to their failure to pay, the interest rate shall continue to accrue according to the agreement, as set forth by the lender, on the balance of the loan until the loan is paid in full.
Interest (Usury) The cost associated with borrowing the money. Late-Payment If the borrower anticipates that they may be late on their payment, they must contact and make arrangements with the lender.
Pay only for what you use, No use No Charge. Competitive ATM fees and free POS. Revolving credit facility at less then 2 per month.
Deposit your own funds into the card (up to R25,000. 00 per month), at no extra costs. Facility Cost and Fees Example. Facility used R1000. Admin fee R 100. Service fee R 60.
We also made the process simple. No need to visit hundreds of websites and fill out numerous paperwork. The Need for Speed. Our online service readily serves your need to connect with a lender.
The process takes a few minutes. Fill out our secure online form and we send an encrypted copy to an authorized lender to approve. Once you submit your information, you will be redirected to the lender's website where you can review the terms of the loan, including details about all the applicable rates and fees.
This service is not available in all states. If you request a loan in a particular state where such loans are prohibited, or in a location where WhiteRockLoans. com does not have an available lender, you will not be connected to a lender.
In some cases, you may be given the option of obtaining a loan from a tribal lender. Tribal lenders are subject to tribal and certain federal laws while being immune from state law including usury caps. If you are connected to a tribal lender, please understand that the tribal lenders rates and fees may be higher than state-licensed lenders.