Do you need money and you need it fast? Then, the solution to your needs might be the loans offered by Cobol. Our aim with this text is to show you that this is a reliable option that you can take advantage of when you have money needs. Also, we want you to learn how to apply for these loans, what other people think of these loans, and more. Moreover, we will discuss another credit lending company that offers loans similar to the ones given out by Cobol.
Is Cobol loans Legit?
Cobol is a financial company that works under the provisions established by the NCA. We are able to make this statement because Cobol is registered with the National Credit Act, which is the agency of the Government that enforces the norms set by this piece of legislation.
How to Complete an Online Loan Application with Cobol?
With this company you will not need to leave your house to request a loan. You can start your application even from your bed online! The application process is super simple; before you set out to filling in the application make sure you have all the documents requested ready to be submitted.
Now that you know how to apply online, let us tell you more about this amazing loan. With Cobol, you can ask for a loan of up to R5 000 and pay it back in 6 months.
How much Time does Cobol take for the Loan Payout?
After you fill in the online application for their loans, Cobol will start assessing the truthfulness of the information and documents you provided them with. Also, they will run a credit check on you to see if you can afford the loan or not. However, since this process is highly automatized you will be informed within minutes if the loan was approved and you could have the money in your account also in a matter of minutes.
2 Reviews Found about Cobol
It is only natural that before applying for a loan we want to know if the company we’re about to commit to have positive reviews or not. The problem is that if you run a quick search on the web you will find hundreds of comments and diverse points of view. This might take you a longer time than you might expect.
We did the job for you. We’ve chosen the two most reliable reviews we found. One of them thanks Cobol for how quickly the money she requested was deposited into her bank account. The other person was also surprised at how fast they process requests but was mostly thankful because thanks to Cobol he was able to solve a serious urgency.
What are the most FAQ about Cobol?
When we post our articles we receive hundreds of questions and comments by our readers. One of the questions we get more often about Cobol is if it is safe to provide personal and financial information to this company. Many of our readers are worried about the security of their data. If you are this kind of reader, let us reassure you that there is nothing to worry about. Cobol will treat all your information as confidential.
Is it Possible to Take out Payday Loans at Cobol?
If you have been reading our articles, you might be already familiar with the concept of a payday loan. For those of you who don’t know what this is, let us fill you in. A payday loan is a loan that you ask for when you need to cover for an unexpected expense and cannot do it with your salary since you haven’t cash it yet. For example, you need money to have a roof leak repaired immediately: you ask for the loan, you repair the leak and when you get your payday you repay the loan.
Strictly speaking then, Cobol does not offer payday loans, but the loans it offers can absolutely work as such since you can borrow money and repay it on the following months. So, if you find yourself with an unforeseen expense and don’t know how to cover for it, do not forget about Cobol.
What are the Requirements for a Personal Loan at Cobol?
At this credit lending company you will find unsecured loans. This means that you will not need to provide any kind of security for guarantee of payment of the loan. Usually secured personal loans are the ones that involve higher amounts of money and a longer repayment period. As we’ve explained above, Cobol offers small loans that can be repaid within a short time.
Like with any other legitimate credit provider, you will have to fulfill a set of requirements in order to be able to ask for the personal loans offered at Cobol. This is because the company needs to verify certain information to assess if you would be able to pay off the loan and avoid risks both for the lender and for yourself.
You will have to:
- Be older than 18
- Be a South African resident
- Having a permanent source of income
- Earning more than R3 000 per month
Are there other Loans like Cobol?
Dunami provides personal loans that work very similar to the ones offered by Cobol. This credit provider offers short term loans of up to R5 000. You can apply for these loans online and the application process is super easy and quick: in a matter of minutes you can have your money on your bank account! The requirements for the loans at Dunami are very similar to the ones asked by Cobol since both companies are in full compliance with the regulations enforced by the NCR.
What are the Contact Details for Cobol?
Cobol has an online form for you to fill in an easily apply for their loans, so there may not be any reason for you to need to contact them for that matter. However, if you want to talk to someone that works there to ask a question or because you have a specific doubt or concern, you can call them on 021 421 8811. If you prefer, you can also e-mail them with your questions at clientcare@cobol.co.za.
It is our hope that we were able to help you find an alternative for your finance needs. We discussed the loans offered by Cobol. After reading this article you know what requirements you need to meet to qualify for these loans and how to contact the company in case of a doubt or question.
Preguntas Frecuentes
What are Cobol Working hours?
If you want to apply for a loan, you will not have to worry about their working hours since the process can be completely carried out through the internet at any time of the day. However, to contact the office to have a question answered you will have to call them from Monday to Friday from 8 a.m. to 5 p.m. and on Saturday from 8 a.m. to 1 p.m.
What kind of information is collected when I use Cobol’s services?
Cobol respects the confidentiality of your personal information and is straightforward with regard to the information it collects. This includes your name, date of birth, telephone numbers, employment information, among other details. This information will be used to process your request; it will not be shared and it will be treated as confidential pursuant the Electronic Communications and Transactions Act.
What is the interest rate for these loans?
The interest rate that Cobol will offer you will depend on your situation. After you provide all your personal and financial information, the company will perform an affordability check and a credit check on you to determine the kind of interest rate they can offer you. However, this rate will never be higher than the maximum limits established by the National Credit Regulator.