We are a Lender and Provider and therefore we will provide finance directly to you; we provide an online loan matching service, we will introduce you to Lenders and Providers of financial services if possible. By submitting an application through our Iframe form you will be giving your consent for Excellent Finance to match your application with one of the Lenders and Providers on our panel. We will present your application in real time to one or more of our Lenders and Providers based on their lending criteria until such time as one of our Lenders and Providers accepts your application or all Lenders and Providers decline your application. If a Lender and Provider accepts your application you will be forwarded to a page on the Lender and Provider’s Website that they have requested we direct you to or if the Lender and Provider does not work online we may present you with a screen that gives you information and contact details relating to the Lender and Provider that accepts You
It is important to understand that we will only forward you to a Lender and Provider that has looked at your application and accepted it as one they believe there is a good chance they can provide a loan or relevant services to you. It is also important to understand that we may be paid a fee by the Lender and Provider for introducing you to them and we may pay a portion of that fee to the Website owner that is using the iframe form as a service.
If we are unable to find the exact amount and/or term that you have requested, our lenders may offer you an alternative amount and/or term. There is no obligation to accept the alternative offer if it doesn’t meet your needs. You should read their conditions carefully and make a responsible decision on whether you believe their service is right for you. If you have any questions or are unsure you should contact the Lender and Provider before taking out any service or loan with them. There is no obligation for you to take up the loan or service with them.
Struggling to Maintain Payments:
If you are struggling to make repayments on a payday loan you should contact your lender right away. You can also get free advice from debt charities like Stepchange, Citzens Advice Burea and the National Debtline
How works is best explained with an example.
If you borrow R1,000 on a credit card with a 5% , over the course of a year it will cost you R120 (if you pay nothing back). However, as you are likely to have to make some minimum repayments, the total interest you will actually pay over the course of the year will be less than this.
is typically added to a debt on a monthly basis, to find a monthly interest rate simply divide the by 12. So if the is 5% the monthly rate is 1% and if you owe R20,000.000 you will be charged R10 interest each month.
It’s also worth noting that the longer the period over which you spread your repayments, the lower the monthly cost but the higher the overall interest paid.