CashPort - Easy Online Loans in South Africa

1. CashPort Loan Terms
2. CashPort Fees
3. Requirements for a CashPort Loan Application
4. How to Apply Through CashPort
5. How Quickly Can You Get Money?
6. How to Repay a Loan Found Through CashPort

CashPort.co.za is a South African loan comparison and matching service, not a direct lender. It connects applicants with third-party banks and lending companies and redirects users to a selected lender to complete the loan agreement. 

CashPort does not make lending decisions, issue funds or collect repayments. The service is operated by Fininity OÜ, based in Estonia.

CashPort Loan Terms

• Loan amount R500 to R350,000
• Typical APR 12% to 36% on the main loan comparison page
• Typical repayment term 6 to 72 months on the main comparison page
• CashPort service fee R0 for borrowers
• Only NCR-registered lenders

CashPort does not set the final interest rate, repayment period or fees. These are determined by the lender and confirmed in the lender's credit agreement before acceptance. Not every lender in the network offers the maximum R350,000 amount.

CashPort Fees

Using CashPort is free for the borrower. CashPort does not charge an application or matching fee. Instead, the platform earns commission from lenders for advertising or successful referrals.

Interest, initiation fees, service fees and other loan-related charges are determined by the selected lender and form part of the lender's own credit agreement.

Requirements for a CashPort Loan Application

The basic criteria presented for applicants include:

• Be 18 years or older.
• Have a valid South African ID.
• Have an active South African bank account.
• Have a source of income.
• For the main application route, be employed for at least 6 months. 

CashPort also indicates that partner lenders may consider applications from freelancers, pensioners, students and people between jobs where there is a regular source of income. Acceptance depends on the criteria of the individual lender.

Some partner lenders may perform a credit bureau check before granting credit. A poor credit history does not automatically result in approval or rejection because the decision belongs entirely to the lender.

What Information Does CashPort Collect?

The application process may involve providing:

• Full name.
• Mobile number.
• Email address.
• Date of birth.
• South African ID number.
• Monthly income.
• Other information required to match the applicant with a provider. 

Relevant personal information may be passed to participating financial service providers so that they can process the application.

How to Apply Through CashPort

The application process works as follows:

1. Select the amount you want to borrow.
2. Complete the online application form.
3. Provide your contact, identification and financial information.
4. CashPort searches for lenders matching the application.
5. Compare the available offers.
6. Select an offer and continue to the lender's website.
7. Complete any additional lender verification.
8. Review the lender's loan agreement, interest and fees.
9. Accept the agreement if the terms are suitable.
10. If approved, the lender transfers the money to your bank account. 

CashPort itself does not approve the application. The final decision is made by the lender.

How Quickly Can You Get Money?

CashPort promotes a fast online matching process and states that some applicants can be connected with a lender within minutes. Once a lender approves the application, the money is transferred by that lender rather than CashPort.

The actual approval and payout time therefore depends on:

• the lender;
• additional verification requirements;
• the bank receiving the transfer;
• the time and day of approval. 

A fast match does not guarantee same-day approval or payout.

How to Repay a Loan Found Through CashPort

CashPort does not collect loan repayments. The lender provides the repayment schedule and payment instructions after the loan has been approved.

Depending on the lender, repayment methods may include:

• bank transfer;
• debit order or card-based payment;
• deposit into the lender's designated bank account.

The exact repayment method must be confirmed in the lender's credit agreement.

Representative example A representative example provided for the service is: Loan amount: R30,000. Repayment term: 6 months. APR: 12%. Total cost: R1,800. Total repayment: R31,800