Boodle Review

Product Review

Boodle is an online loans company that allows you to loan up to R2500 for the maximum of 32 days.

Boodle caters in short term loans that are for those unexpected moments in life when you need some extra cash. You can use a Boodle loan to pay for unexpected emergencies or those luxuries that you may not have the cash for immediately.

Boodle allows you to decide how much that it is you need to borrow and the duration of the loan. This provides flexibility for your short term loans. Also with Boodle you will know how much you need to pay back as this calculated when you choose your amount and the time when you will pay it back.

Application process

How to Apply for a Boodle Loan

The first thing that you will need to do is decide how much you want to borrow and for how many days you want to borrow it for. After this you need to complete a simple and quick online form that will take about five minutes. Then you just need to wait for about 10 minutes and that’s it you will get your loan in a flash.

Applying for a Boodle loan is easy as there is no physical documentation needed. Everything is done online. You just need to create an account and apply with the easy to use Boodle interface. Boodle is quick and you can expect your loan within an hour after your loan has been approved.

On a weekday between 8:00 and 15:00 the loan can be placed into your account almost immediately, but if it is after 15:00 on a weekday then your Boodle will be in your bank the next day by 8:00. On weekends and public holidays you can expect your Boodle the next working day

Benefits

Boodle offers you an increased ranking when you pay your back on time, which means you will be able to borrow more.

Boodle understands that life has a habit of throwing the unexpected our way and these things can be costly. Boodle is ideal for those that are looking for short term financial solution.

Boodle is able to offer short term loans that are safe and convenient. On their site you will be able to see the amount that you borrow plus what you will need to repay which includes the interest and the time period of the loan.

Customer Rating

4 (80%) 2 votes
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Additional info

Interest Rate/APR

  • Boodle has a 0.17% interest per day. Interest is charged according to the National Credit Act.

  • The APR is 60%

Implications of Non-Payment

  • This will impact your credit profile negatively.

  • Boodle collectors team will contact you

  • A default administration fee of R85.50 per month will be charged until the amount is settled

  • If you still have not paid an external legal collections firm will be brought in which will mean more fees.

Financial Implications

  • Service Fee: R50 per month plus VAT

  • Initiation Fee: Under R1000 – 15% plus VAT. Over R1000 – R150 plus 10%  on amount plus VAT

Potential Impact to Users’ Credit Score

Boodle does background checks before approving a loan. Taking a Boodle loan and repaying this on time will impact your credit score positively which will then help you in the future when applying for a new loan.

Renewals

Once you are part of Boodle and have taken and repaid your first loan, you are a member and allowed to take another Boodle loan and increase the amount you wish to take.

Collection Practices

Boodle collects your repayment amount by debiting it from your bank account.

 

Psychical Address: 26 Girton Rd, Parktown, Johannesburg, 2193

Click-Here-to-Apply

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