Arcadia Finance - Compare loans online up to R350 000

1. Arcadia Finance Loan Terms
2. Requirements
3. How to Apply Through Arcadia Finance
4. How You Receive the Loan
5. Repayment
6. Features

Arcadia Finance is an online loan comparison service, not a lender or credit provider. It helps South African users compare personalised loan offers through loan broker partners that work with NCR-registered banks and lenders. 

One application can return offers from up to 19 lenders, and using the comparison service is free and non-binding. Arcadia Finance is owned and managed by Finnish company Draivi Media Oy.

Arcadia Finance Loan Terms

• Loan amount: R100 to R350,000
• Repayment term: from 3 to 72 months, depending on the offer
• Interest rates: may start from around 11% per year
• Maximum annual interest rate in its representative example: 28%
• Arcadia Finance service fee: free
• Lender fees: initiation and monthly service fees may apply
• Number of offers: up to 19 lenders

Arcadia Finance does not set the final interest rate, fees or repayment conditions. These are determined by the lender making the individual offer.

A representative example provided by Arcadia Finance uses a R30,000 loan over 36 months at a maximum annual interest rate of 28%, with an estimated monthly repayment of R1,360, including initiation and monthly service fees.

Requirements

The basic requirements given by Arcadia Finance are:

• You must be over 18 years old
• You must be employed
• You must have been employed for more than 6 months
• The requested loan should not exceed 8 times your monthly income

Final eligibility and approval depend on the lender assessing the application.

How to Apply Through Arcadia Finance

The comparison process is completed online:

1. Choose the amount you want to borrow.
2. Select your preferred repayment period.
3. Enter your contact and application details.
4. Submit one online application.
5. Arcadia Finance forwards the application through its loan broker partners.
6. Receive personalised offers from up to 19 lenders.
7. Compare the rates, repayment periods and other conditions.
8. Accept the offer that suits you or decline all offers.

The offers are non-binding, so submitting the comparison request does not require you to take a loan. Arcadia Finance says offers can appear immediately after completing the online application.

How You Receive the Loan

Arcadia Finance does not pay out the loan itself. If you accept an offer and the lender approves the application, the third-party lender is responsible for the credit agreement and payment of the loan funds.

Repayment

Repayment arrangements are determined by the lender whose offer you accept. The repayment period, instalment amount, interest rate and applicable fees are included in the individual loan agreement.

Arcadia Finance itself does not collect loan repayments because it is a comparison service rather than the credit provider.

Features

Arcadia Finance allows users to compare several types of credit, including:

• Personal loans
• Cash loans
• Short-term loans
• Same-day loans
• Instant loans
• Payday loans
• Debt consolidation options

Its service is available online 24/7 and allows users to compare multiple offers without being obliged to accept one. Arcadia Finance works through broker partners and says those partners collaborate with NCR-registered lenders in South Africa.

Representative example: Arcadia Finance is an online loan comparison tool and not a credit provider. We partner with Myloan.co.za and only work with NCR-registered credit providers in South Africa. Our comparison service to consumers is free of charge. Estimated repayments on a loan of R30 000 over 36 months at a maximum annual interest rate of 28% would be R1 360 per month including an initiation fee and monthly service fees. Interest rates charged by credit providers may, however, start as low as 11%. Repayment terms can range from 6 to 72 months.