New Heights Finance Loans are credit solutions provided by New Heights Finance, which provide loan seekers with up to R150 000.
Their personal loans are reasonable and can be applied for online in a matter of minutes without having to wait in long lines or visiting their branch.
A personal loan is a sum of borrowed money by an individual from a bank or other commercial lender. You will be offered the credit in one big payment and will be required to repay it in monthly payments over a defined period of time. Whenever you repay the loan, you will additionally pay interest on the amount borrowed.
Why take out New Heights Finance Loans?
New Heights Finance is a recognized financial services provider that provides a variety of financial solutions such as bridging finance, personal loans, and business loans, among others.
They provide personal loans ranging from R4 000 to R150 000 in cash, with flexible repayment options and up to 72 months to repay your debt.
Their application method is quick and convenient; you can apply online immediately from their website by filling out their application form and submitting it.
Their financial experts will contact you to verify all your personal information and go through the loan terms and conditions, and if you accept, the funds will be transferred into your account within a few hours.
Annual Percentage Rate
All loan applications are reviewed and credit approval is required. The annual interest rate for a Personal Loan is between 25% ** and 28% **. (compounded monthly). These loans are subject to a one-time initiation cost of up to R 1 197** and a monthly service fee of R68.40**.
The rate and initiation fee will be decided by your individual risk profile. The repayments shown also include an R4.50** monthly premium for the Personal Protection Plan.
An illustrative example if you take out a R150 000 loan you will pay R9048 monthly and a total amount repayable of R217 146, with the interest rate being 28% per annum.
New Heights Finance Loans Requirements
To apply for New Heights Finance Loans, you must have a decent credit score and be over the age of 18. You must also have a South African Identity Book.
Other conditions include being employed permanently with a minimum monthly income of R3 000, having the most recent evidence of home address (no older than 3 months), having a valid bank account into which your salary is deposited, and providing your most recent bank statements.
If your application is approved, the funds will be placed into your bank account, and monthly repayments will be deducted using a debit order.