Cobol is a loan company that provides online loans. The service has been operating since 2006 and offers a quick solution to financial difficulties. The company has its own application, a convenient site and is licensed by the Ministry of Finance. This emergency credit allows you not to worry about the legality of the company. The service operates around the clock, providing customers with micro loans for a short period of time. People can borrow money really fast.
Requirements for obtaining an online loan in Cobol
Like all legal financial institutions, Cobol has a number of requirements for those who want to get a money online. All actions are completely automated. Customers can use the online calculator to see preliminary data. Here are the basic application loan requirements:
- The borrower’s age should be in the range of 18 to 65 years;
- Users must pass a credit check;
- Requires a current email address;
- Provision of current phone number and Debit card;
- Recent pay slips and Proof of address.
The company provides easy loans exclusively to citizens of South Africa with lots of business process. The obtained data is checked by the company for inaccuracies. Accurate completion of all given will increase the chance to get a cash loan. This is a modern company that knows what customers need. The site interface has informative information about the most favorable credit conditions. All information is provided in a concise visual style.
The registration process is quite simple and convenient. Users do not need to spend a lot of time filling out online forms. Everything is automated and simplified. This allows you to concentrate on the main aspects of lending. This helps customers to choose the most convenient type of lending. Credit counseling is comfortable for the customer’s budget. Short term credit will be sent into a bank account.
Cobol interest rate
The company has a 3% fee of security interest rate. Interest rate is from 124% to 212% per annum and it creates a lot of complaints. On average, customers can borrow from R 1000 to R 3000 for a period from 1 month to 6 months. Such amount is enough to deal some problems. The company does not provide short-term loans for several days. Service policy is aimed at small loans for at least a month. Financial statements are a company’s prerogative. People can apply it really fast and take a cash advance.
|Loan Term||Monthly Repayment||Total Repayment||Initiation Fee||Monthly Fee||Interest|
|6 months||R 284.33||R 1 705.93||R 172.50||R 69.00||3%|
How to get Cobol credit online?
The company has a simple procedure for obtaining a loan approval. In order to start the procedure, you must click on the corresponding button on the main page. You must enter basic information about yourself, SA ID number, confirm your employment and provide all the necessary details. You people need a finance details to select the desired amount and term of the loan.
Within 60 minutes, the system will process the application and report the results via SMS. According to all reviews, financial services work really fast. The interface contributes to the rapid processing of the loan. It is only necessary to follow the basic rules and requirements of the service. This will reduce waiting time and increase the chances of getting a loan.
Advantages and disadvantages of Cobol
The service has several expense advantages. Applications are processed around the clock. To confirm the quick loan takes only 60 minutes. The company works officially and has a national license. Relatively low interest rate is convenient for most customers. It’s a good service offer for short African repayment loan. People can borrow and confirm any financial pay and watch debt review loans.
The site interface is simplified for the needs of most users. This speeds up the time of application and loan repayment. All actions are automated. Customers can use the online calculator to calculate preliminary data. The disadvantage of the company is the need to confirm stable operation and solvency. Interest rate is available for short term loans.
With an increase in the term of crediting, the final sum of payments increases. Users should pay attention to this fact before making a loan. The company cooperates only with citizens of South Africa. Customers need to provide all the detailed information about them, and even this may not be enough to get a loan.
Customers can contact the company’s debt service online in several different ways. All technical issues can be resolved with company managers. Here are a few options:
- Telephone number: 021 421 8811;
- Fax: 086 668 7572;
- Website: https://cobol.co.za/;
- Email address for customers: email@example.com;
- Physical Address: Level 2 Block A, The Vineyards 1 Devon Valley Road Stellenbosch, 7600