Mulah is a loan service provided by Mulah (Pty) Ltd under credit license NCRCP12668 that is available to South Africa residents.
MULAH LOAN REQUIREMENTS/ELIGIBILITY
Mulah loans are applicable to South African residents who are 21 years old and above with regular income passing through any of the below banks i.e Absa, FNB, Nedbank, Capitec and Standard bank.
MULAH LOAN REGISTRATION AND APPLICATION
1. Navigate to the online application portal
2. Choose the loan amount and duration using the slider whereby the loan details such as interest & fees, installment amount and repayment date will be automatically adjusted depending on the preferences.
3. Enter your ID number and give consent to your credit profile enquiry from a credit bureau then click ‘Next’
4. The system will attempt to perform credit assessment and depending on the result, the loan application may be denied or approved.
5. Once loan has been approved, it will be deposited directly to the bank account.
MULAH LOAN AMOUNT LIMITS
Mulah loans have a maximum loan limit of R2,500 for first time applicants and R8,000 for regular borrowers.
MULAH LOAN INTEREST RATES
Loans attract an interest rate of 0.17% per day with a 15% initiation fee applicable for loan amounts less than R1,000 and 10% for loan amounts above R10,000
MULAH LOAN REPAYMENT DURATION
Loans have a flexible repayment duration of between 1-90 months whereby repayment is done via automatic debit from one’s bank account on the date selected during the application process.
Block A, Waterkloof Rand Corporate Park 358
Buffelsdrift Rd, Erasmusrand Pretoria, South Africa
P.O Box 1614 Groenkloof Pretoria 0027
Enquiries : firstname.lastname@example.org
Account : email@example.com
Tel: +27 (87) 056 9538
Categories: South Africa