As with other types of loan from other lenders, you need to meet certain criteria in order to qualify for a payday loan from Loans on Demand. You must typically:

Once applicant is interviewed and the necessary documents have been returned, the loan can be disbursed within 24hrs.

Required documents:
  • Valid TRN
  • Proof of address
  • Valid identification
  • Last four pay slips
  • Job Letter (For first time applicants)
  • Two recent passport sized photographs
Interest Rate:
Interest rate on loans will be as follows:
  • $5,000 - $30,000 = 25%
  • A guarantor will be required for all loans above $15,000

    Payday Loan

    A payday loan is a small dollar short-term advance used as an option to help a person with small, often unexpected expenses. Pay day Loans are short-term in nature and not intended to be used long-term or for larger purchases. They are a safe and convenient way to allow a customer to stretch their buying power and help cover small, unplanned expenses. When you need help with unexpected bills, we can assist.

    How much can I borrow

    When borrowing from Loans On Demand, the Loan amount will not exceed $15,000 for new applicants. Special consideration will be given to returning customers with an excellent credit history for amounts up to $30,000. This amount will only be considered after your 4th successful loan. At Loans On Demand, we have made it easy and fast to get the cash you need, when you need it. We offer a hassle free approach to borrowing that ensures our clients satisfaction.

    Processing Fee

    Loan application will attract a 3% processing fee of the amount being borrowed. The processing fee will only be charged if the loan is approved and deducted from the amount being lent. Eg. A loan of $15,000 + 3% = $450 processing fee. You will get an amount of $14,550 deposited.

    Loan Extension

    You have the ability to extend your loan which can only be done once (1) during the loan period. This allows you to skip your loan payment for a week/fortnight without any additional charges or late fees. This cannot be done on your first payment. Loans are not extended automatically which means you must contact us to have it done.

    Top Up Loans

    You have the ability to top up your loan. This means you can get an additional loan or increase the remaining balance on your current loan. Eg. If you took a loan of $15,000 at 20% interest, the amount you would pay back is $18,000. If you pay a total of $12,000 you will be left with a balance of $6,000. You can apply for a Top Up Loan of $10,000 which brings your owing total back to $18,000. This can only be done once per loan period.

    Late Fee

    If for any reason loan payments are not received on time, it will attract a late fee of $1,500 (This will happen if the payment is not made within 3 days after the due date). The late fee will be automatically deducted from your account automatically on the 4th day of delinquency.

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