loans for bad credit background image

Loans for Bad Credit

These lenders offer specialised loans for people who have bad credit up to R350 000 and repayment over a maximum of 84 months. Average interest rates range from 18.25% to 25.75% and early repayment is welcome.

View Bad credit loan Offers
loans for bad credit
Rating based on 29 reviews

Loans for people that are Blacklisted or have Bad Credit

If your creditors have had to take action against you for repayment of loans and accounts, chances are you have a bad credit record, or are blacklisted and will not qualify for a traditional bank loan.

A specialised lender can help you with a personal loan designed for people who have bad credit.

Frequently Asked Questions

Bad credit loans designed to meet the needs of South Africans

Bad credit might not be good, but it doesn’t always have to be bad!

The tough reality when you’re an individual who's managed to rack up a record of bad credit is that the larger and more familiar lending institutions are not in a hurry to help you with a loan. In fact, more often than not they'll decline your application based on the simple reason that you come with high risk.

That said, if you're someone with a poor credit history, there’s no need to pout because there are plenty of non-traditional lending institutions and online loans that noticed this gap in the lending industry and made it their mission to design loan offerings that would help the unfortunate individuals who had nowhere to turn.

These new lending companies and loan products are specifically tailored to meet the needs of citizens of South Africa that have a bad credit record. Though it’s not always the cheapest option, it’s still an option! You didn’t have one before and now you do, which is far better than feeling alone when you’re in a position that calls for a helping hand.

Don’t feel as though you’re the first person reaching out either! There are many like you, therefore there are perfected processes by experts in the industry that can offer the advice that’s needed when you take that step to apply for a bad credit loan.

How bad is your record? Do you even need a Bad credit loan?

You might have missed a payment or two, or perhaps have a few credit cards, an overdraft and a couple of retail accounts that might appear to you as “bad”. The last thing you should do is assume anything regarding your financial situation. If you have never been handed over before by a company that you owe money to, or have no blacklists on your name, it’s imperative that you first attempt to know your score before fretting over applying for a loan!

Bear in mind that if you're already under the assumption that you could have a poor credit record, chances are that certain lenders might be under the same impression, while others might not. In other words, not all non-traditional lenders have the same stringent rules in place. It’s still a good idea to request a credit report to know where you stand financially.

How to go about obtaining a Credit report?

Thanks to technology and the wonders of the internet, they're able to do this online just as with most things these days. There is a multitude of online websites that'll assist you to obtain a free credit report. You just need to go online and look for a site that'll link to the credit bureaus. Most of them will ask you for your brief personal details, namely your contact details and ID number to be filled in on an online form, at which point you will receive communication.

This report will furnish you with all the insight and information that you need to ascertain whether you have good creditworthiness or bad. Go through it with a fine-toothed comb and ensure that all the details and information are correct. Anyone would hate to know that there might be false information out there that could directly impact your ability to take out any future personal loans or lines of credit.

When applying for your bad credit loan, take the following into account:

  • Apply through a number of lenders as this won’t further impact your credit score initially, however, you might just land yourself a really good deal of interest and find a lender that perfectly matches your needs.
  • Be wary of applying through too many over an extended period of time, as this could end up counting against you.
  • At all costs – avoid loan sharks! They don't have your financial interests at heart and will loan you money simply on the premise that they'll make money out of you, not to mention that they’ll come with the priciest of interest rates to top it all off

Advice on comparing bad credit loans

For starters, make sure you do a thorough comparison. Not just between one or two but, through all of them, since many different companies have different lending policies, interest rates and criteria that need to be met.

Use a comparison tool that allows blacklisted individuals to actively compare the pros and cons of each lender. Some lenders might even offer a pre-approved loan without having to perform a very thorough credit check - this is almost always true in the case of payday loans.

Just remember that a credit check that results in a lender declining your loan application can severely count against you as opposed to having avoided the check in the first place. Make sure that you choose the right lender when comparing!

What are secured loans and how do they help?

This is a separate strategy altogether, albeit one to consider if you have bad credit. Remember, it’s not always a guarantee that you'll obtain a personal loan for bad credit, simply due to having bad credit. There are a number of criteria that you need to meet, especially when dealing with a registered lender (which is always recommended).

So, what's the alternative you ask? The better question to ask yourself is, what assets do you have that could potentially be used as collateral? If you have collateral that could act as a form of security for a loan, then the likelihood of you receiving a personal loan or short-term loan is far higher than before! What that essentially means is that you wouldn’t even need to apply for a bad credit loan, you could use your collateral to obtain a more traditional general loan. The only con with this scenario as opposed to a bad credit loan, however, is that should you fail to pay it, your asset will be repossessed. Grandad’s old Buick in an auction lot is sure to upset a number of family members when you miss the payments due to having chosen this route.

The proof, however, is that the interest rates are far more attractive than unsecured quick loans which qualify you based on the availability of security. It’s a no-brainer really! Well, if you never really liked the Buick anyway. Otherwise, it’s something you seriously need to consider risky due to the loss you could incur.

Some last-minute financial advice to ponder over

Take the time to cross the Ts and dot your I’s. Do a few calculations and ensure that you're fully aware of the monthly instalment you have now committed yourself to pay until settlement. Money doesn't grow on trees, and it certainly hasn’t started since you decided to start doing the right thing with your bad credit.

In other words, take a look at your income and ensure that you have a healthy surplus of leftover disposable income. If you do, you’re A for away! If not, don’t feel bad to look into other options such as debt consolidation and debt counselling to help ease the load. Just make sure you’re making the best one for you and realise that you’re not alone if you’re blacklisted or struggling with a bad credit record. There are lenders out there standing by ready to help you.

Bad credit loan calculator

The interest rate of a loan will vary based on your credit score and risk profile.
This bad credit loan calculator is for illustration purposes only.
The use of this loan calculator is subject to our terms of use.

List of direct lenders offering Loans bad credit

  1. Mulah Bad credit loan


    • Loans up to R4,000
    • Term up to 30 days
    • Interest from 38%
  2. EC Loans Bad credit loan

    EC Loans

    • Loans up to R120,000
    • Term up to 84 months
    • Interest up to 28%
  3. Finsap Bad credit loan


    • Online loan application
    • Term up to 10 years
    • Interest from 5%
  4. Global Finance Bad credit loan

    Global Finance

    • Loans up to R100,000
    • Term up to 60 months
    • Blacklisted loans
  5. Boodle Bad credit loan


    • Loans up to R4,000
    • Term up to 32 days
    • Interest from 0.17%
  6. Speedy Loans Bad credit loan

    Speedy Loans

    • Loans up to R200,000
    • Flexible repayment plans
    • Competitive interest rates
  7. Ayoba Loans Bad credit loan

    Ayoba Loans

    • Loans up to R250,000
    • Term up to 60 months
    • Interest up to 28%
  8. ShowTime Finance Bad credit loan

    ShowTime Financ...

    • Loans up to R250,000
    • Term up to 84 months
    • Interest up to 27.75%
  9. Mr Cash Loans Bad credit loan

    Mr Cash Loans

    • Loans up to R200,000
    • Term up to 72 months
    • Interest from 28%
  10. Square Finance Bad credit loan

    Square Finance

    • Loans up to R3,000,000
    • Term up to 60 months
    • Interest from 5%
  11. LoanSpot Bad credit loan


    • Loans up to R300,000
    • Affordable loan options
    • Term up to 30 days
  12. TA Consulting Bad credit loan

    TA Consulting

    • Loans up to R150,000
    • Term up to 60 months
    • Interest from 14%
  13. iLoans Bad credit loan


    • Loans up to R200,000
    • Term up to 60 months
    • Interest up to 28%
  14. Easy Cash Loans Bad credit loan

    Easy Cash Loans

    • Loans up to R150,000
    • Term up to 84 months
    • Interest from 28%
  15. Low Credit Loans Bad credit loan

    Low Credit Loan...

    • Loans up to R150,000
    • Term up to 60 months
    • Interest from 32.1%
  16. EZI Finance Bad credit loan

    EZI Finance

    • Loans up to R8,000
    • Term up to 6 months
    • Interest up to 32.1%
  17. Loan SA Bad credit loan

    Loan SA

    • Loans up to R50,000
    • Term up to 36 months
    • Interest up to 27%
  18. Wanna Loan Bad credit loan

    Wanna Loan

    • Loans up to R3,000
    • Term up to 37 days
    • Interest from 5%
  19. Loan Match SA Bad credit loan

    Loan Match SA

    • Loans up to R500,000
    • Term up to 60 months
    • Interest up to 27%
  20. Just Affordable Loans Bad credit loan

    Just Affordable...

    • Loans up to R100,000
    • Term up to 60 months
  21. Loan Tracer Bad credit loan

    Loan Tracer

    • Loans up to R250,000
    • Term up to 60 months
    • Interest up to 27%
  22. Budget Cash Loans Bad credit loan

    Budget Cash Loa...

    • Loans up to R3,000
    • Term up to 40 days
    • Interest from 65.96%
  23. SA Loan Services Bad credit loan

    SA Loan Service...

    • Loans up to R150,000
    • Term up to 84 months
    • Interest from 2%
  24. Hopon Loans Bad credit loan

    Hopon Loans

    • Loans up to R50,000
    • Term up to 36 months
    • Interest from 63%
  25. Loan Connector SA Bad credit loan

    Loan Connector ...

    • Term up to 60 months
    • Interest from 10.71%
  26. Just Loans Bad credit loan

    Just Loans

    • Loans up to R50,000
    • Term up to 60 months
  27. Loan Picker SA Bad credit loan

    Loan Picker SA

    • Term up to 60 months
    • Interest up to 27%
  28. Finance Wizard Bad credit loan

    Finance Wizard

    • Loans up to R150,000
  29. Find a Loan SA Bad credit loan