Vodacom has announced VodaLend Compare as a financial services marketplace aimed at offering unsecured personal loans for customers.
The company’s financial services division has made VodaLend Compare available via its recently launched super app – VodaPay – with an online browser-based version said to be launching soon.
For now those interested in securing a personal loan will be presented with up to nine tailored offers from independent providers and financiers. It is said to also eliminate the process of submitting multiple applications to several institutions, which can affect an applicant’s credit score.
The providers include Nedbank, African Bank, Finchoice, Boodle and more, Vodacom confirms.
The company adds that quotes are based on an individual’s risk profile and customer’s affordability, with personal loan products across providers ranging from R500 up to R350 000. Payment terms start from three months up to 72 months, with approved customers proceeding to sign an agreement, and funds being made available within 48 hours of approval.
“VodaLend Compare is designed to respond to consumers who may need a financial boost quickly for personal use, such as emergency medical expenses, unplanned relocation costs or home renovations, without a tedious application process. Through one journey and one application, within the VodaPay app, customers are able to immediately access an ecosystem of products that caters for their individual lifestyle needs,” noted Mariam Cassim CEO of Vodacom Financial Services, regarding this new offering in a press release sent to Hypertext.
“Providing customers with unsecured personal loans can help individuals meet their different personal goals and achieve financial freedom more easily, compared to other types of loans where collateral is required as security. Customers also have peace of mind knowing their debt is being serviced through a secure capability offered by the VodaPay environment,” she added.
To find out more about VodaLend Compare via the VodaPay app, head here.
