Minimum and maximum loan periods vary between 1 months and 10 years. Comparison interest rates vary between 6.55% and 60% p.a. Total interest repayments vary between R685.05 and R844.12 over the life of the loan. *Comparison rate is based on an unsecured loan of R20,000 for a term of 3 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. These rates can change without further notice. All rates quoted are per annum. For more information regarding fees click on "View fees & additional info +" for each product or contact the provider.
Apply for Barko Financial Services (BFS) loans in South Africa
A personal loan can help consolidate your debt
, pay for medical bills
or unexpected car repairs
. A Barko Financial Services loan offers the same flexibility, and if you’re a regular worker with a modest salary, this lender might be a good choice for you. Keep reading to find out how BFS can help you with a quick loan.
Introducing BFS loans in South Africa
BBFS is one of South Africa’s top micro-finance institution. The company has a long and reputable history that started in 1996 when they decided to offer finance to employed, middle-class South Africans. Today their list of clients includes:
- Government employees;
- Mineworkers; and
- Civil servants.
Why choose Barko Financial Services?
- Financial control. BFS helps you to make smart financial decisions based on your needs. The final decision is up to you, so you’re always in control.
- Financial freedom. A BFS loan gives you the freedom to pay for a holiday, your education, or business costs, all depending on your needs.
- No financial worries. The few days before month-end can be tricky, especially if an emergency happens with payday still around the corner. No worries! As a financial services provider, Barko is well-equipped to give you the cash flow injection you need.
- Excellent customer service. Barko takes the approach of treating every client as a trusted friend, so you can always rely on the best customer service.
How do Barko Financial Services loans work?
Before you apply, let’s take a look at the features of BFS loans, so you know what you’re getting into:
- Affordability. It’s important that you choose a loan you can afford based on your monthly budget, which is, in turn, determined by your monthly income and expenses.
- Other requirements. You must be a permanent employee who has been working for at least 6 months in this capacity. You should also be at least 18 years or older.
- Instant processing of your application. BFS always tries to provide the best customer service, and your application will be processed instantly where possible.
- Loan offer. After completing all the necessary documents, Barko will look at them and give you an offer that shows how much you can safely borrow based on your budget.
- Repayment period. Barko only offers short term loans at very low interest rates. Once you use the funds, you’ll have to repay the loan within 30 days.
- Paying back your loan. Once your due date has arrived, your loan instalment will be deducted from your bank account automatically (debit order).
How to use the Barko Financial Services loan calculator?
Our BFS personal loan calculator is a free tool you can use to estimate the instalments for your loan. Use the sliders to select a suitable loan amount and term (remember to consider your monthly budget here) and click calculate. Check for the results in the comparison tables above, which also contain other featured lenders that offer personal loans.
How to apply for Barko Financial Services loans
Unfortunately, you can only apply for a BFS loan in person. Use this branch locator for Barko Financial Services to find the nearest offices near you. Remember to bring the following documents when you go in to make your loan application:
- Bank statements for the last 3 months;
- Latest payslip; and
- Original South African ID or passport.
If you want to apply for a personal loan online instead, check out this list of South African online lenders available through CompareLoans. Here’s our other list of popular lenders who can also help you with your borrowing needs.
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