Glosssary Of Terms
Bad Credit Personal Loans:
For people with poor credit or no credit history. This type of loan is especially good for people who need a loan but have been denied as a high risk.
The process of evaluating an applicant's loan request in order to determine the likelihood that the borrower will live up to their obligations.
A representation of applicant's accounts and expenses.
Wrongful or criminal deception intended to result in financial or personal gain.
A sum of money saved or made available for a particular purpose.
Minor expenses of various kinds incurred through daily routine.
Money received on a regular basis through work or investments.
Total interest incurred over the entire term of a loan.
Cash to cover you for a set time period.
The amount of money needed to sustain a certain level of living, including basic expenses.
This is when you apply for the largest amount possible, up to R5000, relative to your salary.
Online Cash Loan (aka payday loan):
A small, short term unsecured loan.
Online pay day loans:
A loan that is applied for online and provided to borrowers that must be paid in full when the borrowers receive their next pay check.
Payday Cash Loan:
A cash advance on your next salary paid back within 45 days.
A loan granted for personal use, whether it be medical, household or family.
Your cash loan is saved on your Power Cash Card and used to withdraw the money from any ATM or make debit purchases.
Short Term Finance:
Any investments with a maturity of one year or less.
Short Term Credit:
A cash loan on credit for a short period of time.
This is when you apply for a specific amount that you need, up to R5000.
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