Vodacom’s financial services unit has launched VodaLend Compare, a marketplace for unsecured personal loans.

VodaLend Compare allows users to compare personal loans offered by financial institutions, such as Nedbank, African Bank and Finchoice, based on individual risk profile and affordability.

Personal loan products range from R500 to R350,000, with repayment options ranging from three months to 72 months.

Vodacom, which has grown its financial services business, says the platform is a one-stop marketplace for getting emergency loans.

“VodaLend Compare is designed to cater to consumers who may need a financial boost quickly for personal use, such as emergency medical expenses, unforeseen moving expenses, or home renovations, without a cumbersome application process. “, says Mariam Cassim, CEO of Vodacom Financial Services.

“Providing customers with unsecured personal loans can help individuals achieve their various personal goals and achieve financial freedom more easily, compared to other types of loans where collateral is required as collateral.

“Customers also have peace of mind knowing their debt is being paid off with a secure capability offered by the VodaPay environment.”

Vodacom played aggressively in financial services, after the company turned the previously loss-making unit into a cash cow.

The telecommunications company already offers loans to small, medium and micro businesses, and has also launched VodaTrade, targeting small businesses, helping them unlock business opportunities and transact securely.