Dial Direct Personal Loans Reviewed

Dial Direct has been in the forefront of the South African market since the year of 2003. It is a company that draws from the rich pedigree of its parent company Dial Direct of UK. While the prime business of Dial Direct is to offer insurance policies to the citizens of South Africa, it also dabbles in the personal loans market.

The company behind Dial Direct personal loans is Direct Axis SA which is a specialist financial services provider. Direct Axis SA also has ties with FirstRand Bank and Yellowoods which is a global company.

Types of Personal Loans Offered

Dial Direct does not offer separate personal loan products and instead has one product with multiple variations. In other words, while the personal loan product is the same, the borrower would have the option of varying different aspects on the basis of his personal needs.

Consider the following characteristics of the personal loans offered by Dial Direct.

1. Dial Direct personal loans can be for any amount between a minimum of R2 000 and maximum of R100 000. Dial Direct’s policy of allowing its borrowers to choose the specifics of their personal loans means that the borrower gets to decide the actual amount of the personal loan.
 
2. The repayment schedule of Dial Direct personal loans can also be chosen by the borrower with anything between 12 months and five years being the range.
 
3. The repayment instalments of Dial Direct personal loans are fixed. This fact combined with highly competitive interest rates preclude risks arising out of interest rate fluctuations of the economy.

In fact, the interest rates that Dial Direct personal loans are available at are frozen at the point of approval as well. This means that in the event the interest rates in the country rise at a future date, they would not affect the repayment instalments in any way.
 
4. All Dial Direct personal loans come with Personal Protection Plans. These plans are designed to protect the borrower and his family from the financial ramifications of unforeseeable incidents. Protected provided is for dread diseases, permanent and temporary disability, death, and even retrenchment.

Benefits of Going for Dial Direct Personal Loans

There are many benefits of choosing Dial Direct personal loans with the majority rooted in the company offering its borrowers freedom of choice. Moreover, their personal loans are also effective in terms of their application process which is categorically designed to be simple.

For instance, Dial Direct offers an online application process system which is active round the clock. Furthermore, like all personal loans available in the market, Dial Direct personal loans do not require any collateral to be put forth for the loans to be approved.

Prerequisites and Requirements

Like all financial institution in the country, Dial Direct personal loans are also subject to certain prerequisites and borrower requirements. These include the following:
1. A decent credit history and record
2. A stable monthly income of at least R3 000. If the borrower is self employed then proof of stable income is a prerequisite as well.
3. An identification number
4. A bank account where the money will be transferred and to which the personal loan will be tied.

Dial Direct is primarily an insurance provider in the country. However, its personal loans are also extremely competitive. The freedom of choice that the company provides is the prime reason why these loans are considered to be so helpful.