Vodacom launches funding for consumers through VodaLend Compare

Vodacom has launched VodaLend Compare, a financial services marketplace aimed at offering unsecured personal loans for customers.

Available exclusively through the VodaPay super app for now, with the web version launching soon, the proposition allows customers to compare personal loan quotes in three simple steps, enabling them to apply for the best option that suits their lifestyle needs and budget.

Mariam Cassim Chief Executive Officer of Vodacom Financial Services VodaLend Compare is designed to respond to consumers who may need a financial boost quickly for personal use. 

“Through one journey and one application, within the VodaPay app, customers are able to immediately access an ecosystem of products that caters for their individual lifestyle needs.” 

Vodalend Compare presents customers with up to nine tailored personal loan offers from independent providers and financiers, eliminating the process of submitting multiple applications to a lot of institutions, which can affect the applicant’s credit score. 

Quotes are based on an individual risk profile and customer’s affordability, with personal loan products across providers ranging from R500 up to R350 000, and payment terms starting from 3 months up to 72 months. 

Approved customers may proceed to sign an agreement, and funds will be paid to them within 48 hours of approval.

The launch of VodaLend Compare follows the launch of VodaLend Business Cash Advance, which advances funds to small- to medium-sized businesses. 

Both propositions, under the lending arm of Vodacom Financial Services, are simplifying access to funding, which historically is a major economic obstacle for both consumers and businesses.

The VodaPay super app is available to download from Apple and Android app stores. 

To access VodaLend Compare on VodaPay, click on Services on the Home Menu, and find VodaLend Compare under Finance.