Mfin Cash Loans are the most affordable personal loan offered by South Africa’s top retail company, Shoprite.
If you were looking for a quick cash loan, don’t look any further than Shoprite loans.
Because loans from Shoprite are unsecured personal loans and offered at the lowest interest rate.
Let’s get started.
Mfin Cash Loans = Shoprite Loans: here’s what it means
Mfin is a registered credit provider that is the National Credit Act (NCA) compliant. Mfin Cash Loans is a product by Shoprite.
You know Shoprite is all about lowest-prices, they also aim to offer cash loans through Mfin at the best possible interest rate. You’ll get a loan amount from R1 000 up to R7 500.
Want to know the best part?
You can pay back the loan within flexible terms of your choice.
- You can get an R1 000 loan for only R291.08 p/m.
- And R3 000 for just R730.03 p/m
- Finally, R7 500 for only R1 717.68 p/m
Mfin loans interest rate for the loan is calculated from your personal information provided during the application. In short, if you have a good credit history, the good chance you stand of qualifying for an affordable amount.
Basically, your loan application will go through an affordability assessment to find out how much you qualify for. You’ll get personalized personalized credit that best suits your needs and budget.
Checkout our loans calculator for your application to Shoprite loans.
Here’s how to apply for Mfin loan
There are a couple of ways you can apply for Mfin Cash Loans:
1. Online Application
- You can begin loan application online by visiting the Mfin website;
- Choose the loan amount you want to apply for;
- Complete the form with your details;
- A consultant will get in touch with you to help with the process.
2. At the branch
- Visit your closest Shoprite branch;
- At any till point, present your Identity document to the cashier;
- Tell the cashier an amount you wish to apply for;
- You will get a response within just 15 minutes via SMS
When your application is successful, funds will be given to you instantly.
You can use the money however you want – it’s all yours.
Mfin loan application terms and conditions
When you apply for Mfin cash loan, you confirm that:
- You’re over the age of 18 years old;
- You are not currently over-indebted and that you have adequate excess funds to pay the monthly instalment of the Principal Debt;
- You are not under administration, sequestration, debt review or a restructuring order and have not been declared mentally unfit by an order of the court;
- All information you give us is true and correct;
You can read more about the conditions here.
Mfin Cash Loans Settlement
You may settle this Agreement in full at any time, with or without notice, by paying the full settlement value to Mfin.
The settlement value will be the unpaid balance of the Principal Debt plus the unpaid interest and all other fees and charges payable by you to us up to an until the settlement date. You may obtain the settlement value from Mfin at any time.
Mfin Contact Details
For further information, please contact Mfin Customer Services on 0861 34 6346.
Visit any of the Shoprite/Checkers branches for more inquiries.
Alternatively, visit www.mfin.io to read more and apply for cash loan online.