One of the most exciting things about TADFIN loans is their conversational AI chatbot. This makes the loan application process super easy. Instead of filling out long forms, you follow a simple step-by-step process, which greatly improves the entire experience.
This lender is also quite popular for its low-fee loan products and customer-centric business model. Here’s our in-depth review of this lender.
This lender is best for employed borrowers with good credit scores looking for short-term loans. TADFIN, short for Triple Advanced Investments, offers affordable staff loan packages. The company also educates its clients on handling loan products and avoiding over-indebtedness.
Their loans are super affordable. They are set up in a way that reduces the lender’s risk. For instance, repayments are collected via payroll. This means the borrower doesn’t get access to the installment money. Therefore, they won’t be tempted to skip payments or default.
Here are the advantages of TADFIN loans:
- Low-risk loan
- Affordable interest rates
- Low fees
- No fees
These are some cons you should be aware of:
- Strict vetting process
- Short repayment period
Top Perks
Low Interest Rates
Loans offered by TADFIN are among the most affordable packages in South Africa. These rates are kept low due to the strict qualification standards. For instance, if you have a high debt-to-income ratio, chances are you won’t qualify. This lender does everything it can to avoid vicious debt cycles. The affordable interest rates make this loan a perfect option for individuals looking for small amounts of cash.
Low Fees
Many lenders in South Africa charge ridiculous fees on their loan products. Fortunately, TADFIN loan fees are some of the lowest. Even if another lender offers a low interest rate, you may still save a considerable amount of money by approaching TADFIN because of its low fees.
Low Risk
One of the risks of taking out a loan is failing to pay it back on time. This can affect your credit score, and you can end up with late fees. Fortunately, with TADI loans, you won’t have to deal with this. Their repayment process is set up in such a way that by the time you get your money, they will have taken the installment already.
TADFIN loans strike an agreement with your employer. They deduct their loan repayments straight from the payroll. This minimizes risk on both your and the lender’s side.
Efficient Conversational AI
The conversational AI used by TADFIN makes your loan application process so easy and convenient. This software lets you borrow from anywhere. Forget filling in long and tedious forms. You’ll get to enjoy a simplified, step-by-step application process you can complete in minutes.
What Could be Improved
Website Structure
The TADFIN website is not that user-friendly. It also doesn’t provide an option to apply online. However, that may not be much of a big deal, considering you can use their conversational AI.
Website Content
When applying for a loan, you need as much information as possible. This lender’s website doesn’t contain enough details about its products. It does confirm that they are a registered lender, but you won’t find the detailed step-by-step process that tells you how to apply for their loan products.
No Loans for Unemployed
TADFIN loans are only offered to employed individuals. This is because they collect their repayments straight from the payroll. The downside is there are many customers who are either unemployed or self-employed. All these people won’t be able to access the lender’s loan products since they don’t have a salary.
How to Qualify for TADFIN loans
Here are some this you will need to qualify for the credit:
A job: as mentioned before, this lender only extends their services to formally employed individuals.
Good credit: TADFIN is strict when it comes to avoiding over-indebtedness. As such, they only work with customers who have their financials in good order.
Low debt-to-income ratio: This lender will not give you money if your monthly payments and expenses take up most of your salary.
As you can see, TADFIN’s eligibility criteria are bad on more than just what you earn. This business has a unique approach to lending. If you are eligible, you can receive your money in a few days. It’s even possible to get approved on the same day.
Here are some things you can do with the money:
- Home improvement
- Cover emergencies
- Medical bills
- Funeral expenses
- Wedding expenses
- Car repairs
It’s crucial to understand that you can’t just use loan money for anything you think of. Loans are expensive. As such, you must only borrow money from lenders as a last resort.
If you don’t qualify for TADFIN loans, many other alternatives exist. Check out our article on instant cash loans.
TADFIN’s Loan Application Process
Ready to get assistance from a reliable chatbot?
- To apply for a personal loan, you can visit this link.
- The chatbot will ask for your basic information.
- You may have to provide details like your employer, income level, and identity.
- You will be required to provide a photo ID.
- Once approved, you can sign the loan documents and wait for your loan to be funded.
TADFIN Loans are Ideal for you if?
- You’re permanently employed and on the payroll
- You have a low debt-to-income ratio,
- You’re looking for an affordable loan with competitive interest rates;
- You have good credit and a high income.
