Atlas Finance Personal Loan Full Review
Borrow up to R8.000 with the personal loan you have been looking to solve your financial emergencies, and still have six months to repay it.
When it comes to personal loans in South Africa, Atlas Finance is becoming of the most popular options in the country.
Atlas Finance has a personal loan of up to R8,000 that is known for its flexible repayment terms, competitive interest rates, and multiuse funds.
Below you will find everything you need to know before applying for an Atlas Finance loan, including its terms, fees, advantages, and much more.
Who is Atlas Finance?
Specialized in providing personal loans to customers who may not have access to traditional banking services, Atlas Finance has been operating in South Africa for nearly 30 years.
Founded in 1994, the company has network of over 170 branches across the country and has established itself as a trusted and reliable lender.
Besides its personal loans, Atlas Finance also provides insurance products, debt consolidation services, and financial education resources to keep their customers better informed.
How does an Atlas Finance personal loan work?
As of today, Atlas Finance offers an personal loan starting at R500, but it can go as high as R8,000.
Still, all this money can be used for various problems you might have, since medical bills, through car repairs, unexpected expenses and much more
When it comes to the repayment plan, Atlas Finance allows a term anywhere from 1 up to 6 months with an interest rate between 36% and 60% APR.
But the best of all: Atlas Finance’s personal loans are unsecured, which means that you don’t need to provide any collateral or security to qualify for the loan.
Advantages of an Atlas Finance personal loan
personal loans come with several advantages, making them an attractive option for many South Africans.
For start, customers who contract Atlas Finance’s personal loan will also have access to a variety of services and protections, such as:
- Loan Coverage;
- Funeral Coverage;
- Medical Cover and Ambulance benefit;
- Legal Advice;
- Exclusive discount when shopping with associated brands.
I also worth mentioning that Atlas Finance has a mandatory insurance, which provides financial protection in case you’re unable to make your loan payments due to unforeseen circumstances, such as job loss or illness.
Other benefits include:
- Flexible repayment terms
- No collateral is required.
- Quick and easy application process
- Online Banking
Disadvantages of a Atlas Finance’s personal loan
While Atlas Finance’s personal loans have several advantages, there are also some potential drawbacks to consider.
As with many other lenders in the country, Atlas Finance’s will charge you an initiation fee that will depend on your total loan amount and a monthly service fee.
It is important to note that Atlas Finance’s will charge its customers who got their monthly installments delayed.
If you miss a payment or are late with a payment, you’ll be charged a late payment fee and may face penalties, which can increase the cost of your loan.
Finally, while Atlas Finance’s offers competitive interest rates, some borrowers may be charged higher rates depending on their credit history and financial situation.
It’s essential to read the terms and conditions carefully before applying for a loan to ensure you understand the interest rate you’ll be charged.
How do I apply?
Got interested? You can apply for an Atlas Finance’s personal loan online from the comfort of your own home.
Tap the green button below and check out all the requirements you must meet in order to get approved for an Atlas Finance’s personal loan.