How to borrow money from Vodacom South Africa. Borrowing money from Vodacom should not be a herculean task. The process is simple and easy especially when you meet the requirements.
For this article, we are going to deliberately take you through all the processes, making it so task-free for you when next you decide to borrow money from Vodacom.
Does Vodacom Borrow Money?
If you are asking if Vodacom trust you enough to lend you money to be paid back when you are cash trapped, then the only answer here is a big yes. Vodacom launched a lending avenue earlier.
With this, Vodacom customers will be allowed to borrow money from Vodacom which will be paid at a later date. The sum given ranges from a minimum of R50 way up to R500.
Customers who use this service are given a span of 7, 14, 21, or 28 days to make payment.
How To Borrow Money From Vodacom South Africa
With Vodalend, you don’t need paperwork. All you have to do is to make provision for some basic details and you are ready to go. Your money will reflect in your bank account within 24 hours. Here are the steps;
- First and foremost, you have to download the Vodapay App from Google Playstore or Applestore or visit the Vodacom Business page and look for ‘Fund My Business
- When you have the app ready, simply click on ‘Get Started
- From there, you have to link and upload the financial history of your business to the profile
- Once that is done, click on submit the application
- Now, wait for your application to be verified and wait for Vodalend to get back to you
- In not more than 10 minutes, Vodacom will get back to you with a quote and approval decision
- They typically get back to you within 24 hours of applying
How Does The Vodacom Loan Work?
The Vodacom loan is there to offer loans to customers to support their businesses. With this new addition to Vodacom, these customers will be able to access quick and small loans just by applying on the Vodapay App or the Vodacom Business page.
According to Vodacom, it is way cheaper and rates are 400% cheaper as compared to other forms of loans.
After the customer goes through the application process and meets requirements, they are sent a quote to choose from. If and when the approved amount hits the customer’s account, they have between 7 days to 28 days to pay the loan.
How Much Loan Does Vodacom Offer?
Vodacom loans fall between a minimum of R50 to R500.000.
Does It Take Long To Receive Vodacom Loan?
No, it does not take long for the loan application and confirmation to be completed. After the application has been completed and sent in, your requested amount is more likely to reflect in your account within 24 hours.
What Is VodaLend?
VodaLend is an initiative by Vodacom that was launched in September. This business and financial service allows persons who are on Vodacom to request money in advance in their times of need. This money is given to them so that they can pay later.
How Long Is VodaLend?
If and when you need financial assistance from Vodacom and want to use the Vodalend service, it will take 24 hours for the process to be completed. By that time, you will already be smiling at your phone.
How Do I Access VodaLend?
Vodalend can be accessed either on the Vodacom Business page or by downloading the Vodapay App. After that has been downloaded, all you have to do is to go through the application process and ready yourself to receive your loan.
How Is Vodalend Helping Small Businesses?
- They offer free legal assistance to these businesses that use Vodalend to secure loans
- They offer vouchers for mobile and digital adverts
How Do I Contact Vodalend?
For any inquiries or assistance, get to Vodalend customer care through the following means;
- Call on 082 1960 and press option 6 or
- Email fundingsupport@vodacom.co.za
