EC Loans

EC Loans was launched in 2005 to provide online, short-term, fast, personal, and blacklisted loans.

Applying for EC Loans’ credit products is a simple and quick process. EC Loans works with a number of credit providers to offer South African loans that are easily available on the web.

Regardless of your credit circumstances, EC Loans is devoted to finding you a fast loan that can meet your needs while keeping your budget in mind.

Remove unhealthy credit with EC Loans

EC Loans has a firm belief that every lending institution is responsible for investigating if an applicant can afford to repay the loan they’ve applied for. EC loans are known for helping many South Africans remove unhealthy credit.

To achieve this, EC Loans developed numerous loans which target your individual needs, but they didn’t stop there. They also integrated financial support and guidance, so you can eliminate debt and build good money habits.

EC Loans’ guiding principles

• Transparency: There are no hidden fees, EC Loans shows you the exact amount you’re supposed to pay
• Responsibility: EC Loans takes full responsibility for any loan queries and concerns and looks to respond promptly
• Fairness: EC Loans attends to your case professionally and treats you fairly and with respect

Zero upfront fees

EC Loans has zero upfront fees. The only time you’re charged is at the end of the month and once your application has been processed. EC Loans will email you within 24 hours, requesting you to confirm your bank details, so your loan can be processed faster.

A once-off fee

EC Loans will then debit your account with a once-off fee of R249.99 to cover admin costs for searching for a loan for you. This fee is payable whether your loan is approved or not. If the fee of R249.99 is not available, EC loans will look to recover the funds by deducting your account for four months until the full amount is paid.

Improve your credit profile

If you’re declined, EC Loans can help you by sending your details for debt restructuring, which can assist you in improving your credit profile. By having a clean financial history, you put yourself in line to apply for other loans such as vehicle finance and home loans. Please note that debt restructuring is not the same as debt review.

When you’re facing financial pressure, getting a loan should be quick and simple.

At EC Loans, you’re granted an opportunity to settle your outstanding debts and bad credit. If fast cash is what you need to sustain you until your pay date, a quick loan can assist you to get the money you need immediately.

When financial institutions decline, EC Loans approves

Immediately after you’ve been approved, you can expect your account to be credited. Since so many customers from EC Loans take out loans to attend to an unforeseeable expense. As much as interest fees on fast loans are much higher than on secured loans, they’re a preferred choice when you require cash quickly to pay debts and emergency bills.

What happens when you miss payments?

EC Loans abide by the rules set by the National Credit Act and take accountability for your loan needs. In most cases, taking up a loan offer costs more when you dishonour your payment arrangement. Every time there are insufficient funds in your account, you’re charged extra, therefore it’s your responsibility to ensure funds are always available on your repayment date.

What does the renewal policy entail?

EC Loans also helps you if you have more than one loan, so long as your payment arrangements with their service providers are always paid on time.

If you’ve successfully made 3 consecutive payments on your existing loan, you can then be granted another loan. EC Loans will verify if you qualify for another loan according to the rules of the NCR.

Rebuild your credit

At EC Loans, you also receive a credit report with the relevant information on how to rebuild your credit. This is not a free service, however, the information that’s included in your credit report is useful, so you can significantly improve your rating. You’ll be assigned a consultant who’ll take you through the entire process.

What else can EC Loans assist you with?

EC Loans have several options available for you. They can also help you find

• A loan from various providers which are registered with the NCR
• Insurance quotes
• Medical aid quotes from several companies