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A payday loan is a short-term loan designed to help you cover expenses until your Employer pays you your next Salary. It is typically meant for smaller, immediate needs and must be repaid by your next payday.
60 Second Loans SA Payday loans can range from R150 to R1000, depending on your monthly income and lender policies. The loan amount is usually limited to ensure you can repay it out of your next Salary.
To qualify for a payday loan from 60 Second Loans SA, you must be over 18 years old, employed for at least three months, and you must have a monthly income that justifies the loan amount, which typically should not exceed eight times your monthly income.
Payday loans typically need to be repaid within 30 days or by your next paycheck. However, some lenders may offer slightly extended terms depending on the loan structure.
It may have little to no impact on your credit score. However, failure to repay the loan on time or missing payments could negatively affect your credit history.