Vodacom Financial and Digital Lifestyle Services has launched VodaLend Personal Loans, a new offering in partnership with Old Mutual Finance, a registered credit provider. The new service provides customers and non-customers alike with convenient access to a personal loan of up to R250,000.
The launch of VodaLend Personal Loans comes at a time when South Africans are facing tough economic conditions, with the high cost of living and other pressures taking their toll on consumers. Vodacom says that the new service is designed to offer an accessible, trusted, and reliable financial solution that can support customers in achieving their personal goals and financial well-being.
The National Credit Regulator’s Consumer Credit Report for Q1 2023 highlights that loan advances from non-banking institutions have increased to 9.3% from 8% at the end of last year, reflecting the shift by consumers to non-traditional financial service providers for their finance needs.
VodaLend Personal Loans offers a swift and convenient online application process, with customers able to apply for a loan and be notified of provisional approval within minutes of submitting all the required documentation. Approved customers will receive their funds directly into their bank account within 24 hours of concluding their loan agreements.
The solution is available to both Vodacom and non-Vodacom customers, and offers a number of features, including:
- Convenient online application process with real-time responses
- Ability to view and manage accounts at any time
- Flexible repayment terms
- Competitive interest rates
Andre Keller, Chief Executive Officer of Old Mutual Finance, says:
“Our integrated partnership with Vodacom will ensure that consumers’ interaction with both brands is simple, convenient, and tailored to their specific financial needs. At Old Mutual, we offer our customers a variety of origination channels and platforms for personal loans, therefore, partnering with Vodacom allows us to further expand both our footprint and digital reach. Ultimately, we make borrowing accessible and easy to understand while ensuring we remain a responsible lender by providing consumers with the right financial education tools to help them achieve financial freedom.”
Mariam Cassim, Chief Executive Officer of Vodacom Financial and Digital Lifestyle Services, concludes: “Our partnership with Old Mutual is another exciting step in expanding our financial ecosystem and building on our other digital offerings, such as VodaSure Insurance, VodaLend Compare, and VodaLend Cash Advance. By providing more customers with access to financial services, we are fostering financial inclusivity on a broader scale, which has the potential to accelerate economic growth and transform lives.”
Customers can access VodaLend Personal Loans by clicking on the link.
