Mpowa Finance – online loan South Africa
Online loans up to R5.000
Amount
R500 – R5K
Interest from
5.00%
Term
1 – 31 days
Approval
15 minutes
Applying does not commit you to a loan agreement.
Screenshot of https://mpowafin.co.za/
How to apply for Mpowa Finance loan
- Choose the amount and maturity
- Apply for the loan
- Fulfill the form
Quick overview
- Amount, R500 - R1.000
- Term, 1 - 31 days
- Age: 18 + years
Loan example
| Amount | Fee | Total payment | Term |
|---|---|---|---|
| R1.000 | R269.40 | R1.269.40 | 31 days |
Loan example
Loan Amount R1000 taken out on 1st of the month repayable on 31st of the month. Initiation Fee: R171 incl VAT. Service Fee: R68.40 incl VAT. Interest: R50 (1st loan) subsequent loan R30. Interest rate: 5%pm 60%pa 1st loan in a calendar year. 3%pm 36%pa for subsequent loan taken out in that same calendar year. Credit Cost Multiple incl VAT 1.29 1st loan & 1.27 for a subsequent loan in same calendar year. Outstanding Loan Amount: R1289.40 1st loan R1269.40 subsequent loan.
Loan requirements
- ✓ Presence of client ID
- ✓ Current account number in an African bank
- ✓ Mobile phone number of one of the SA operators
- ✓ Minimum application criteria
- ✓ Employment document for debt cash
Loan features
- Online loans up to R5.000
- Term 1 - 31 days
Frequently asked questions
15 minutes after submitting your application.
The minimum amount at Mpowa Finance is R500.