Vodacom Financial Services has launched VodaLend Compare, a financial services marketplace aimed at offering unsecured personal loans to customers.
Available exclusively through the VodaPay super app for now, with the web version launching soon, the proposal allows customers to compare personal loan quotes in three easy steps, allowing them to request the best option that suits their needs and to their budget.
Vodalend Compare presents customers with up to nine tailored personal loan offers from independent providers and financiers, eliminating the process of submitting multiple applications to numerous institutions, which can affect an applicant’s credit score. These include Nedbank, African Bank, Finchoice and Boodle, to name a few.
Quotes are based on individual risk profile and customer affordability, with vendor-to-vendor personal loan products ranging from R500 to R350,000, and payment terms ranging from 3 months to 72 months. Approved clients can proceed to sign an agreement and funds will be released to them within 48 hours of approval.
The launch of VodaLend Compare follows the launch of VodaLend Business Cash Advance, which advances funds to small and medium-sized businesses. The two proposals, under the lending arm of Vodacom Financial Services, simplify access to finance, which has historically been a major economic barrier for consumers and businesses.
VodaLend is on the right track to evolve and continues to simplify and digitize the way consumers and businesses transact on VodaPay, with the ultimate goal of providing a one-stop-shop for personal and business digital solutions within the super hasp.p.