Dial Direct loans calculator
Dial Direct South Africa offers personal loans that range from R1000 up to R250 000. You can use these convenient, online loans for several purposes, depending on what you need to do. One thing you should keep in mind is that you have to borrow an amount that will not give you problems when paying it back.
There are a lot of reasons why you might be looking into personal loans. Many people use them to make big purchases or to access cash in times of shortage. No matter the reason, it is always advisable to get a personal loan with the best terms and from a reputable provider.
What are the features of Dial Direct loans?
- You can apply online;
- Quick and convenient application process with no paperwork;
- You can know whether you qualify within seconds;
- If the application is successful, you will get the cash in your account within a day;
- The payment terms are quite flexible since you can pay back the credit over 12 to 60 months;
- The monthly instalments are fixed;
- You can get an update on your credit via SMS or email every month;
- You can opt for customer protection insurance; and
- The interest rates are as low as 15%.
Dialdirect loan requirements
- You must be at least 18 years or older;
- You should have a government-issued SA ID or valid driver’s license;
- Have a working South African bank account;
- Be gainfully employed with an income of R2 000 or more monthly; and
- Produce payslips and bank statements as proof of income.
What are the interest rates associated with Dial Direct loans?
Dial Direct first performs a credit check before they can set an interest rate for your loan. The interest rate they will charge will never exceed the maximum recommended rate of 24.75% per annum.
If you have a lower than average credit score, you will tend to get a higher interest rate. Below is an example of a Dial Direct loan and the charges & fees. For a high-risk client with a higher interest rate of 24.75%:
- Amount: R7500
- Term: 24 months
- Initiation fee: R936.50 charged upfront
- Monthly service fee: R69
- Total amount to pay back: R13 248
- Monthly instalments: R552
However, Dial Direct also offers considerably lower interest rates for customers with a high credit score and this allows you to save big.
What to consider before applying for a Dialdirect personal loan
Before you apply, you first have to think about a few things:
Is it necessary? – Credits have the potential to become expensive, so you need only to take out one when it is necessary to do so. As a responsible lender Dial Direct fully supports responsible borrowing.
Can you afford to borrow? – It’s important to look at your current expenses and determine if you will be able to squeeze in the monthly instalments comfortably. It is essential that you borrow money you can easily pay back. To help you with this, we created this Dial Direct loan repayment estimator that lets you estimate the monthly repayments for any amount and term you choose.
How to use the Dial Direct personal loan calculator
The Dial Direct loans calculator from CompareLoans calculates your monthly payments based on your preferences and situation. Here are 3 straightforward steps you need to follow to get your personalised results:
- Choose your desired loan amount. How much do you wish to borrow? Dial Direct offers personal loans from R1000 up to R250 000. Enter your desired amount using the correct slider.
- Choose your desired loan term. How long do you wish to keep the loan? Dial Direct loan repayment terms range between 12 and 60 months (5 years).
- Press “Calculate Repayment.” Get fast results which show your estimated monthly payments based on the values you have chosen.
How to apply for a DialDirect loan
The Dial Direct loans application process is made online. Simply press the “Go to Site” button on the Dial Direct listing, which you can find in the comparison tables above. You’ll be directed to the company’s application page where you fill an online form.
After submitting the form, you can wait for a callback or contact Dial Direct yourself.
How to ensure that you and your loved ones are safe when taking out a Dial Direct loan
When you borrow money, you also have to make sure that you and your family will remain covered in case anything unfortunate happens. Dial Direct insurance covers the following:
- Death: In the event that you die, this protects your loved ones from the burden of taking over your monthly repayments.
- Permanent Disability: If you are hurt permanently, and you can no longer work.
- Temporary Disability: If you get a work injury or are not fit to continue working for a while.
- Loss of Income: If you get retrenched, or you lose your job.
How to pay back Dial Direct loans
Dial Direct personal loans are paid back through debit orders. This means that your fixed monthly instalment will be deducted from your account every month until the debt is paid back in full.
How to get the best out of a DialDirect loan
To ensure you get the maximum benefit from a Dial Direct loan, you have to consider several things:
- You should always pay your monthly instalments on time. This will avoid further charges that include interest and penalty fees.
- You only have to borrow the amount that you need and no more. This helps you avoid a situation where you struggle to make repayments.
- You should read and understand the loan terms and conditions thoroughly before applying and getting the cash.
Frequently asked questions
When will I get the money?
Once your Dialdirect loan application gets a green light, you will typically receive the money within a single day.
How will I get the money if the credit is approved?
The funds will be deposited straight into your bank account, and you can withdraw or use it from there.
How much money do I qualify for?
The Dial Direct loan amount you qualify for depends on your credit score and your ability to pay back your debt. The lender will determine all these.
What do I do if I can not pay an instalment?
The first thing to do if you can not pay back an instalment is to call Dial Direct and let them know. They will advise on what you should do next.
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