Similarly to other online payday loans providers, Boodle is bringing instant online cash loans to South Africa. Having been the first online payday loan provider to launch locally, Boodle has built up a loyal customer based and is actively marketing its service to stay ahead of international giant Wonga, who is also making a solid play in South Africa.
What makes Boodle payday loans different is its unique local touches. Having always been focused on South Africa, you can tell that the company has learned from its customers and amended its offers accordingly – one such example is that you can select any of the 11 official languages when filling out the application form – a very thoughtful touch for non-English speakers!
Why Use Boodle Payday Loans
If you’re in need of a quick cash advance, then a Boodle payday loan might just be the solution for you! Whilst Wonga offers a slightly cheaper option, their approvals teams have become somewhat stricter so if your application got rejected, then Boodle is sure to be your best next step.
Also worth noting here is that Boodle offers a max repayment of up to 32 days (as opposed to Wonga’s 30) and whilst this doesn’t sound like much, it can provide that extra breathing space for some one desperately trying to make ends meet.
How Much Do Boodle Payday Loans Cost
A Boodle loan is made up of 3 portions – an initial setup fee, a monthly service charge as well as the daily interest rate. You can see the detailed cost breakdown below:
|Amount||Total Fees||Total Repayment|
|R 100.00||R 80.63||R 180.63|
|R 200.00||R 103.89||R 303.89|
|R 500.00||R 158.08||R 658.08|
|R 1000.00||R 258.98||R 1258.98|
|R 2000.00||R 402.28||R 2402.28|
|R 2500.00||R 473.93||R 2973.93|
How To Apply For A Boodle Payday Loan
In order to apply for a Boodle loan, you will need to be over 18 years of age, have an active bank account, a valid SA ID and a cellphone as well as email account.
Whilst Boodle does look at your credit score when making a decision, this is only one element of the approval decision so it doesn’t necessarily mean that you will be disqualified should you have a bad credit rating.
The actual application process is purely online and will take you less than 6 minutes. You should have your answer within 24-48 hours as the Boodle team consider your application.