Unifi Loans provides a fast and convenient online loan application and approval process. From the moment you submit your application to receiving the funds, the entire process can typically be completed within 24 hours, provided that you meet their eligibility criteria and promptly provide any required documents.
The first step in obtaining a loan through Unifi is the application process, which is designed to be quick and straightforward. It typically takes about 5 minutes to complete the application, during which you’ll be required to provide basic information and specify the loan amount you’re seeking.
One of the notable features of Unifi Loans is the speed with which they provide responses. After submitting your application, you can expect to receive an immediate answer meaning you won’t have to wait long to find out whether your loan application has been approved or not.
This rapid decision-making is facilitated by the online nature of the application process and the use of automated underwriting systems.
If your application is approved, you’ll receive notification of the approval, usually within minutes. This quick response time allows you to know promptly whether you qualify for the loan you applied for.
Being similar to lenders like Fasta, Once your loan application is approved, Unifi Loans prides itself on the efficiency of fund disbursement with claims that they can send the requested cash directly to your bank account within 24 hours. This is a relatively short turnaround time and can be particularly convenient if you’re in need of the funds quickly.
To complete the process, Unifi Loans also offers the option to submit your proof of income. You can either upload your proof of income directly or use TruID, a secure platform that facilitates the secure transmission of your income verification documents on your behalf.
This step is crucial for verifying your eligibility and the loan amount you qualify for, and using TruID can expedite the process even further.
What are the requirements to get a loan at Unifi?
Unifi Loans are accessible to formally employed individuals with a bank account where their salary is deposited and who can provide proof of income through payslips.
The application process is designed to be hassle-free with minimal paperwork, and the assistance of Unifi’s consultants.
If all your documents are in order and your employment details can be verified quickly, you could complete your loan application in as little as 20 minutes. Additionally, returning customers can apply for future loans conveniently via phone.
Here’s a detailed breakdown of the requirements and the application process:
- Employment Status: To qualify for a loan without security from Unifi, you should be formally employed. This means you must have a stable job with a regular income. Typically, Unifi Loans are accessible to individuals who have their salary paid into a bank account and can provide payslips as proof of their income.
- Required Documents: To apply for a loan at Unifi, you’ll need to gather the following documents:
- – National ID Document: This serves as a primary form of identification.
- – One Month’s Latest Payslip: A recent payslip is essential to demonstrate your income.
- – One Month’s Latest Bank Statement: This statement helps verify your financial history and stability.
- Application Process: Unifi Loans aims to simplify the loan application process by minimising paperwork. When you visit your nearest Unifi branch, their friendly consultants will assist you.
They will capture your details electronically using a computer system, and they’ll also take your photo and fingerprints. These measures are in place to ensure both your security and that of Unifi by preventing fraudulent applications.
- Speedy Processing: Unifi Loans prides itself on efficient processing. If you have all your required documents in order and they can quickly verify your employment details, your loan application can be completed in as little as 20 minutes. This rapid processing time can be especially beneficial if you need funds urgently.
- Future Loan Applications: Once you become a Unifi customer, applying for future loans is made easy. You can apply for subsequent loans directly from your phone by dialling *282#. This feature simplifies the process for returning customers.
Does Unifi do credit checks?
While Unifi Loans, like many online lenders, aims to provide unsecured loans, they do conduct credit checks to assess your creditworthiness and determine your eligibility for a loan.
It’s essential to be aware that agreeing to a credit check is a standard part of the loan application process.
The results of this check help lenders make informed decisions about the risk associated with lending to you. Keep in mind that while credit checks are common, Unifi Loans may place less emphasis on credit history and consider other factors like income and employment status in their decision-making process.
Here’s how credit checks work in the context of Unifi Loans:
- Credit Checks for Eligibility: To determine your eligibility for a loan, Unifi Loans will request your consent to perform a credit check. When you agree to this check, an automatic credit inquiry is conducted. This check assesses your credit history and your ability to manage credit based on your credit record and income.
- Assessing Creditworthiness: Credit checks are a crucial part of the decision-making process for lenders. They help Unifi Loans evaluate your creditworthiness by examining factors such as your credit score, your repayment history on existing loans or credit cards, and any outstanding debts. This information allows them to make informed decisions regarding your loan application.
- Automatic Credit Check: The credit check is typically performed electronically, and the results are available in real-time. This means that as soon as you agree to the credit check, Unifi Loans can immediately access your credit report and assess your creditworthiness. This swift process is one of the advantages of online lending, as it allows for quick decisions on loan approvals.
- Credit-Related Expenses: Unifi Loans may go a step further by automatically obtaining information about your current credit commitments when conducting the credit check. This may include details about your monthly instalment payments on store credit or credit cards. By considering these additional financial obligations, Unifi Loans can better gauge your ability to manage additional debt responsibly.
How will I know if my UniFi loan is approved?
With Unifi Loans, you’ll know if your loan is approved within seconds of completing your online application. If approved, the funds are typically sent to your bank account on the same day, making it an almost instant process.
Unifi Loans Trading Hours
Unifi Loans offers the convenience of 24/7 access for their customers with users able to apply for a loan at any time, day or night.
Between Monday to Saturday, Unifi Loans are available from 8:00 am to 5:00 pm, meaning you can access their services and apply for loans. However Unifi Loans does not operate on Sundays.
So, while you have access to their services 24/7, their agents are available to assist you only on weekdays and Saturdays within the specified working hours.