With only 26 million South African consumers having a formal credit record, a significant part of the population doesn’t have access to formal financial services.

VodaLend Cash Advance provides affordable access to lending products for people who need these services most, but who have historically been prevented from doing so due to high fees and difficult-to-navigate paperwork. It is also accessed in-app on a trusted digital platform, enabling a seamless, convenient, and secure process for customers.

“This innovative product is a potential game-changer, as its fees are less than traditional short-term cash advance providers. On average, it’s up to 400 per cent cheaper than using a mashonisa – it moves us beyond financial inclusion to the real financial impact,” says Quintin Van Vuuren, Executive Head of VodaLend.

With Cash Advance from VodaLend, available through the VodaPay app, consumers can apply for cash from as little as R50 to R500. Best of all, on a successful application, the cash is immediately deposited into your VodaPay Wallet. Cash Advance from VodaLend is there for you when you need emergency funds for those little unforeseen, yet necessary essentials 

Here’s what you need to know about Cash Advance

• Because the product is a formal lending product governed by the National Credit Act, we have to complete a credit bureau check and the client needs to provide 3 months of bank statements to complete the application.
• You need to have a VodaPay Wallet to complete your application and provide additional information which allows us to assess your application. 
• There is no complicated paperwork, just a fast and efficient application process to give you the cash you need quickly and affordably. 

Follow these 7 easy steps when uploading your bank statements:

1. Select your bank 
2. Proceed to get your bank statements
3. Insert your Banking Credentials – these are the details you normally use when logging into your internet banking service
4. Accept any authentication notification that may be sent by your bank (this may differ from bank to bank)
5. Select your day-to-day bank account
6. Statements will be fetched and digitally verified
7. Statements are successfully uploaded as simple as 1-2-3

Your information will be kept safe and secure as we use the latest technology to keep your personal details protected.

How do you pay back the money?

The Cash Advance amount you need will be deposited into your VodaPay wallet. It is important to ensure that there is a balance on your account on the day the funds need to be collected for repayment. We understand that you need the cash to help you cope till your next payday, therefore we have made repayment terms simple and flexible. You can pay back your Cash Advance between 7,14,21, or 28 days.

Cover those necessary essentials with an easy and affordable cash boost from VodaLend Cash Advance. Download the VodaPay app here to get a Cash Advance.