Living in South Africa, one knows that the economy could be better and that at times it can be tough.

Which is why we to be mindful of our expenses and always on the look-out for the best shopping deals. We compare the prices of different grocery stores, clothing shops, cell phone network providers, even gym contracts. So why do we not make a point of comparing finance providers when looking to open bank accounts, get credit cards or take out loans?

More often than not us South Africans tend to stick with our current banking service providers or the finance providers our families and friends use and we’re not very trusting of lesser-known finance providers. Due to this, we’re don’t always take advantage of the best deals and options available to us.

Save time & money with loan comparison sites

Often times it is not just the distrust we harbour for other finance providers, but also the sheer amount of finance providers that are available to us. It can become a daunting task to sift through the copious amounts of providers both traditional and online. Sifting through their fees, terms, interest rates and rewards offer is a lot of work. Thankfully, this exhaustive process has been simplified for us in the form of reputable loan comparison sites.

A loan comparison site will enable you to select what you are looking for and show you what is on offer at a wide range of finance providers, both online and traditional. These sites have information from only the most respected and reputable lenders so that you know you can trust the lender you are looking into, There is no need to worry about dealing with sketchy loan sharks or cash loans from the friendly Chinese store next to the neighbourhood supermarket or grocery store.

Reasons to use a loan comparison site

Saves you time & money

By using a loan comparison site you eliminate hours of time that you would have spent on researching different service providers. After all, time is money. Additionally, as all of the options are available to view side-by-side so you can be sure to choose the option best suited to your pocket.

A large selection of reputable vendors

A loan comparison site sifts through and presents you with a wide selection of vendors who offer different financial services across a variety of categories. These vendors can be in the form of traditional vendors such as banks with physical premises you can go to, or they can be online vendors - whichever one you select, you can be sure that they are reputable and you won't fall victim to any scams.

Easy to use site

Irrespective of your technological literacy, loan comparison sites are designed and optimised for a user-friendly, no-nonsense experience. These sites host clear categories with splash pages for the individual lenders, which allows you to gain all of the information you may require including information about the vendor, how much they are willing to loan you, the interest rates they offer and their loan repayment terms. This allows you to view all of the lenders in that specific category. If you’re looking for specific information only, these sites offer advanced search filters. You need only add in your specifications and you will be presented with the information applicable to your search.

Quick & easy online application

Loan comparison sites offer users the ability to apply for their chosen loan online straight from the site, again saving them time. Additionally, loan comparison sites will also have the information available as to which supporting documents, if any, need to be uploaded to the application.

Given the information, lower costs, benefits and ease of use associated with loan comparison sites, it makes perfect sense that we would and should make use of them. Why spend more money on interest rates and bank costs than you need to when you can easily and most likely find a financial service provider who can give you a better deal on your loan option.