What are online bank loan repayment terms in Cape Town?

What are online bank loan repayment terms in Cape Town?

What are online bank loan repayment terms in Cape Town?

Bank loan repayment terms are not strictly standard across South Africa, but rather vary according to the lender. The terms also depend on the financial status of the debt holder, and can be greatly influenced by whether or not they have a poor credit record and have ever defaulted on a payment, as lenders see this as a sign of increased risk. Depending on the amount of your loan, the period of payment can be between 12 and 72 months, with shorter payment terms being preferable for both the lender and credit provider, as it decreases the interest rate and the amount of risk, respectively.