Why No-Paperwork Instant Payday Loans Are Best For Your Needs

December 19, 2019

Applying for a loan is often regarded as one of the most troublesome, time-consuming, and exhausting things that an adult can possibly do in their lives. 

From nail-biting pre-approval wait periods to tirelessly ensuring that your credit score is up to par for a proper loan, there are various processes that make getting a loan seem absolutely undesirable. While the widely known tasks involved in the experience of applying for a loan certainly come with their own degree of dread, nothing can be more dreadful than paperwork.

Paperwork signifies the higher standards of loan requirements and credit scores for most loan options. Generally, loans whose application processes involve shuttling sheets of paper back and forth are also accompanied by a “700 credit score-or-bust” standard that merits a high rejection rate. Fortunately, getting financial assistance for any emergency nowadays no longer require having to move countless sheets of paper and possessing an impeccable credit score. Today, we have no-paperwork instant payday loans.

What is a no-paperwork instant payday loan?

No-paperwork instant payday loans are a type of financial assistance that fuse two desired parts of borrowing money: being granted a payday loan instantly and the privilege of dealing with no paperwork. The revolutionary form of financial assistance has become one of the most sought-after loan options in South Africa because it grants small financial assistance with no fuss to anyone who urgently needs it.

Who can avail of a no-paperwork instant payday loan?

The qualification requirements for a no-paperwork instant payday loan can be best summed up as follows:

  1. A problem, want, or need that can subsist on small financial help
  2. A job
  3. Two to three valid legal IDs 
  4. Age 18 and over

Formal requirements aside, a no-paperwork instant payday loan can be availed of by any salaried individual that struggles with a slight credit score problem but is in need of instant financial assistance. Most, if not all, no-paperwork instant payday loans are given with low principal amounts since they were intended to cover short-term requirements or obligations. These are a few ways that this type of convenient financial assistance can be used: 

  • Paying for medical bills with a short deadline
  • Taking care of pending electricity and utility bills
  • Settling car repair expenses
  • Covering bank charges or expenses to avoid an increase in the amount payable

Yes, you read that clearly: no-paperwork instant payday loans can be applied for by individuals with low credit scores simply because of the low maximum principal and income-connected aspects. 

How much can you get out of a no-paperwork instant payday loan?

A standard 15 to 31-day no-paperwork instant payday loan can go as low as R500 all the way up to R5,000, hitting a sweet spot that will suffice for paying minor needs and obligations. It is also worth noting that the repayment dates can be adjusted on an upcoming payday, allowing a borrower to save their credit score while comfortably paying off the low principal and interest. 

Final words

No-paperwork instant payday loans are one of the best South African loan options in the market today for anyone that needs quick, hassle-free, and borrower-friendly financial assistance.

Should you find yourself in need of the best no-paperwork instant payday loan providers in South Africa, then feel free to give Hoopla Loans a call today!