short term loans in South Africa are small amounts ranging from R100 to R1,500 or more, with monthly installment repayment of 1 to 6 months. The main objective of short term loans is to split the overall cost of a total loan into installments. In this way, the massive pressure of repaying the whole sum of the loan on the borrower is terminated.
short term loans are a quick and straightforward way to acquire cash in rush situations. But it requires proper budgeting to ensure on-time monthly repayments. Otherwise, it impacts your credit history or attracts late payment penalties.