- Personal loans up to R80,000
- Fixed repayments
- Repayment up to 24 months
[Accessed February 15, 2021]
About Challenor Finance
Everything Challenor achieves is for the client. Challenor wants clients to share in their success.
The aim is to provide fair, valid, and inclusive service to all citizens from all walks of life. We believe there is a fitting solution for each set of circumstances that will be satisfactory to each client. At Challenor the client is king, and we will roll out the red carpet. Service excellence is in our blood, and Challenor has over two decades of experience.
The expertly trained team of skilful financial advisers is highly competent and persistent when it comes to finding clients their ultimate loan option. They understand your concerns and the pressure of financial strains. Clients need not be apprehensive when applying for a student loan at Challenor. Supporting and directing clients is our business and we take it very seriously.
- Best Rates - Challenor is determined to offer the most affordable rates. They are customised for the clients’ advantage, and also in line with their financial profile.
- Timely pay-outs - Once a loan has been approved, the funds are transferred straight into the client’s bank account. Challenor guarantees this will take place in under 24 hours.
- Achievable Repayments - Challenor also assists clients in budgeting, promoting future financial stability. Planning out clients’ repayments and freezing rates for the loan period restores client’s control over their financial situation.
- Top Service – Having extensive experience in the financial industry and loan management, Challenor alleviates your cash flow difficulties and seeks to build genuine and trustworthy relationships with clients.
Challenor Finance Services
A personal loan serves the purpose of making a purchase or purchases when clients do not have the funds available and cannot come up with the money on their own.
In applying for the loan, if the client meets a few qualifying factors, the bank lends them a set amount to cover these expenses in a short space of time. The following assets or investments are an example of what such a loan is used for in South Africa:
- Lobola - So named “Lobola” is a traditional means of securing approval of a customary marriage. It is a symbol of respect bestowed upon the family of the wife-to-be, conveying the value and worth of the union. Other related ceremonial expenses are also covered.
- Musical Equipment - Whether a professional musician, a novice starting, or a dream of learning to play an instrument; clients will find that these resources are costly to buy straight away. Funds for other supporting tools and gadgets, like sound and lighting apparatus are also catered for.
- Education - Student fees and school tuition must be paid timely and the amounts add up each month or quarter, making it a heavy responsibility. Nothing is more important than looking after one's children and increasing their future possibilities.
- Store Purchase - Household appliances will eventually wear out or break down, and never at an opportune or predictable time. Clients then need access to cash quickly, which is exactly what a personal loan is great for.
- Building and Home Improvements – From the construction of a new house to furnishing your current home, clients can fulfil their aspirations.
Challenor Finance – Personal loan
- Loan Type Personal loans
- Loan Amount up to R80,000
- Repayment 3 months to 24 months
Benefits of Challenor Finance
- Get a loan in 3 easy steps
- Personal loans up to R80,000
- Quick and easy loan applications
- Apply within minutes
Personal loan calculator
Benefits of a personal loan
Applying for a personal loan is a hassle-free job since online application forms have become a popular way to submit client information.
It is not always convenient to take time out of work or other duties to travel to and visit with a lender; time is a precious commodity. The speed and ease with which clients can apply for a loan online are complemented by an automated response also via the website. Responses are kept to a strict 24-hour turnaround. At this stage, as soon as the loan is approved, there is no further action required of clients. All there is to do is watch your bank balance, as Challenor releases funds directly to clients, also within 24 hours of approval status.
Considering early loan settlement
This is not a decision to take lightly, as it can have a string of various effects on your loan and your wallet. If a client has set their mind on paying off their loan quicker, then they should do some research, a few calculations, and reach out to the advisers at Challenor. Depending on how much extra you would like to pay and how often, there can be penalty fees you would be charged with.
However, this is not always the case. After the client reviews their budget and assesses their savings, they can begin working out what amount they can overpay. Even if a penalty charge applies, the client may still come out on top. This is because when clients save money, the interest rate is consistently lower than the interest on loan repayments. So it is essential to do proper calculations and be aware of possible savings and penalties, to determine if early payments will benefit you in the long run. With smaller loans, it can be well worth taking this course of action.
Customer Reviews & Testimonials
I could not have hoped for a friendlier, more efficient personal loan service. Challenor helped me finally own my first drum set. Rock on, Challenor!
— Pretoria —
I didn’t know where to turn for a safe short-term loan. I am so glad to have come across Challenor
— Soweto —