Unifi Loans

With branches in South Africa, Uganda, Kenya, and Zambia, Unifi’s making a name for itself in finance.

Their affordable, easy-to-obtain quick loans are taking the online market by storm and making them a micro-lender you can rely on.

What motivates Unifi

Everyone at Unifi, from the CEO to the agent, is dedicated to helping South Africans from all walks of life achieve their goals by offering flexible short-term financial solutions. They specialise in making their products affordable and accessible to people in the low-to medium-income bracket.

In 2006 a lender named Cobol opened its doors. They brought international financial experience to the table. Later, they joined the Unifi group because of their passion for bringing faster, more innovative, online loans to inadequately served markets across sub-Saharan Africa.

The cornerstones Unifi is built on

Above all else, this company holds four values close to its collective heart; unity, dignity, simplicity, and trust. They work as a unit to achieve more and celebrate their success together.

Whether you’re an employee or customer, they see you as a person, not a number and strive to treat you with the dignity you deserve.

Every system implemented on their platform is there to simplify things, no frills or fuss, just you getting the finance you need when you need them. Finally, they pride themselves on the transparency of their process and products and the trust they build with the communities they serve.

Lightning-fast online service

Not only is the application process clear-cut, but it’s also entirely online and available 24/7. You can apply when it’s most convenient for you, no queues, no calls, and no paperwork. All you need is your phone and a stable internet connection.

Unifi takes advantage of the latest technology to enable you to get your short-term loan the same day you apply. If uploading your documentation is difficult, you can have your bank automatically send them your statement and use True ID to send them proof of income. They offer you one of the fastest online services by automating their application process.

Short-term loans can be invaluable if you need to replace a geyser or install an inverter system that makes working from home viable during load shedding.

These loans are set up to give you the most flexible repayment options on moderate amounts that are easy to pay off.

Get same-day payout of up to R8,000

Unifi offer between R2,000 and R8,000 that can be paid off over 1 to 6 months. You choose the amount you need and the term that suits your budget. Regardless of your choice, your loan will be approved and deposited into your bank account within 24 hours of application.

As with all lenders, loan approval depends on the outcome of a credit and affordability check. These assessments are in place to protect you from overindebtedness. If a credit provider recklessly extends credit to you without doing the prescribed examinations, your loan may be written off once the NRC has investigated them.

How the fees work

Your Unifi loan repayment comes with three fees. The first is a fixed monthly service fee of R69. Next is an initiation fee based on the loan amount. And lastly, interest is calculated using your risk assessment and loan term.

The initiation cost is determined by how much you choose to borrow and split up over your loan term. On the other hand, interest is a percentage of the amount added to each month of your loan period.

How your credit profile affects your repayments

Credit providers look at your credit score, determine the risk you pose, and apply a percentage to match. Your credit score is an overview of your financial history and how good or bad your past repayment habits have been.

Clients with high credit scores are afforded the lowest interest rates, while those with low scores are charged higher rates because of the likelihood that they may not repay the loan on time, if at all. Within the first 60 days of making full payments by the due date, you’ll see an improvement in your credit profile.