Personal Loans

A personal loan gives you access to up to R250,000 same-day approval, a low rate from 9,75%, and flexible repayment terms of up to 6 years – giving you the affordable financing you need with the ease and convenience you want.

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Lowest Interest Rate Personal Loans Online

Personal loans are readily available from both banks and non-bank lenders. The interest rates and terms vary based on the lender and the borrower.

Find out how to get a personal loan that’s tailored to meet your needs and fits into your lifestyle and budget.

Frequently Asked Questions

Best Rate Personal Loans in South Africa

We’ve all been in that position where we needed money for something important that we just didn’t have access to. Imagine a world where nothing and no one could help?

How tough that would make our lives if we all just struggled with debt and had no way out of it since that would invariably become the problem. We’d borrow a little from this one and a little from that one until we were in over our heads.

Thankfully we don’t need to imagine that world, because personal loans are there to assist you with every conceivable situation that requires additional finances. Whether it's a student loan for a tertiary education for one of your children, or perhaps a family holiday that you have been trying to get your family to go on for so many years that you’ve lost count.

A personal loan will enable you to achieve these desires and see that these personal needs are met. It might not even be as substantial as these examples, it could merely be to cover high, unforeseen bills on your accounts, perhaps an excessive electricity bill, or interest rates have shot up and you can’t comfortably afford your expenses any longer. No matter the expense, the dream or chaos that you need cover financially, personal loans will do the trick!

Is there a minimum loan amount I have to apply for?

The answer is no! No matter how small a loan you require, you can apply for it. It’s when you’re applying for a larger loan that there might be limitations on the amounts you can borrow, simply due to affordability assessment conducted prior to deciding on the amount you could borrow.

As soon as you’re ready to apply for a loan, you’ll need to decide on a lender of choice that will suits the needs of the loan you require. There are a plethora of lenders online that you can choose from, so be sure to do your homework on who’s out there and what they can offer. You need to ensure that you’re not getting yourself into any trouble by applying for a loan if anything it’s meant to be there to help you.

The beauty of online lending platforms and online loans is that you can enter your details and use a sliding scale in most instances to choose how much you need and how long you’d like to repay it. From there a decision can be reached without having even picked up a pen or paper, let alone have even shifted in your seat!

Do I qualify for a Personal loan?

One thing that needs to be taken into account when applying for a personal loan, is that it would be irresponsible of a lender to approve a loan amount that you weren’t able to afford to repay. That is why thorough checks are done to ensure that this scenario doesn’t transpire. It’s also therefore imperative to the safety of this decision to choose a registered lender.

A registered lender is one that complies with the National Credit Act and only lends money responsibly to those who seek a personal loan for their personal financial needs.

Through affordability assessments, a lender will deduce whether or not you are able to afford the loan. You will need to furnish the lender with your payslips, expenses and bank statements so that they can accurately ascertain the affordability for you, the borrower.

You might feel that since you earn a substantial income that it shouldn’t be a problem at all to receive approval for a loan. But if your disposable income is too low due to a number of existing short-term or payday loans, retail accounts and other monthly repayments, you could possibly only be approved for an amount much lower than you’d expected.

The reason that it’s still worth your while to apply for a loan through multiple lenders, despite knowing that your financial situation isn’t the shiniest out there, is due to the rules that lenders have. Each one has their own set of regulations for personal loans. Some might allow up to 48 months for repayments, while others might extend to 60.

Certain lenders might have interest rates that increase depending on the lending period, while others might have fixed interest rates regardless of the period. The bottom line is that the healthier your credit score, the better chance you have of being approved for the loan you require.

What is the Personal loan application process?

Once you have found the registered lender that you wish to apply through, you can simply visit their website and find the “apply now” section. Most lenders will have an online loan application form for you to complete at your convenience. You’ll need to give all your particulars and have your financial paperwork handy for submitting along with the application form.

There is a set of criteria that you would need to meet. The first being that you have to be of age, at 18 years or older and be a citizen of South Africa with a green barcoded ID. Your most recent payslips and 3 months’ bank statements are the documents required by the lender, to prove that you are earning a stable income on a monthly basis.

You simply scan these documents in (or fax them) and email them to the address provided on the website. At this point, the lender can go through the necessary credit checks before approving your loan and lastly send you correspondence in the form of an agreement stating that your loan is approved for the requested amount and period.

Print, sign and submit if you are entirely happy with the stipulations, rates and loan period. If not, then you would simply need to contact them to make the necessary amendments. However, if all is to your suitability and you have submitted the agreement back to the lending institution, you will receive the funds into your bank account within 24 hours to do with as you please as and when they reflect!

How do I find the best Personal loan online?

There are a few things that are considered to be paramount to the process succeeding as far as applying for a personal loan goes. One of the most considered components is the interest rate that the loan provider will offer you on your loan, particularly if you're applying for a debt consolidation loan. Be sure to ask all the necessary questions or scrutinise the website before officially applying. Make notes if you need to when comparing because it’s only you at the end of the day that needs to deal with the potential pros and cons of the instalments and other variables that come with taking out a loan.

Meeting your needs should be a priority from the lender’s side. Ensure that they have your needs as a priority when deciding on whether to approve your loan and what they are offering you. Bear in mind that short-term loans carry higher interest rates, so be sure to see what rates they charge for different loan periods.

Repaying your loan on time and on the agreed date is imperative. No one understands your life and budget better than you do, hence you should know exactly what you can afford before even applying, keep that figure in mind and don’t apply for more just for the sake of it, only take what you need!

Personal loan calculator

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

List of direct lenders offering Personal loans

  1. Boodle Loans Personal loan

    Boodle Loans

    • Loans up to R4,000
    • Term up to 32 days
    • Interest from 60%
  2. Capitec Personal loan

    Capitec

    • Loans up to R250,000
    • Term up to 84 months
    • Interest from 12.9%
  3. Cobol Loans Personal loan

    Cobol Loans

    • Loans up to R3,000
    • Term up to 6 months
    • Interest from 124%
  4. FNB Personal loan

    FNB

    • Loans up to R300,000
    • Term up to 60 months
    • Interest from 10.25%
  5. FinChoice Personal loan

    FinChoice

    • Loans up to R40,000
    • Term up to 24 months
    • Interest from 24%
  6. Sanlam Loans Personal loan

    Sanlam Loans

    • Loans up to R200,000
    • Term up to 6 years
    • Interest from 18.55%
  7. Lulalend Personal loan

    Lulalend

    • Loans up to R1,000,000
    • Term up to 10 years
    • Interest from 28%
  8. Hippo Loans Personal loan

    Hippo Loans

    • Loans up to R200,000
    • Term up to 72 months
    • Interest from 24.75%
  9. Bridging Finance Personal loan

    Bridging Financ...

    • Loans up to R250,000
    • Term up to 60 months
    • Interest from 15%
  10. Just Money Personal loan

    Just Money

    • Loans up to R250,000
    • Term up to 84 months
    • Interest from 18.5%
  11. WesBank Personal loan

    WesBank

    • Loans up to R150,000
    • Term up to 72 months
    • Interest from 22.5%
  12. Challenor Finance Personal loan

    Challenor Finan...

    • Loans up to R80,000
    • Term up to 24 months
    • Fixed repayments
  13. EC Loans Personal loan

    EC Loans

    • Loans up to R100,000
    • Term up to 84 months
    • Interest from 28%
  14. Easy Cash Loans Personal loan

    Easy Cash Loans

    • Loans up to R150,000
    • Term up to 72 months
    • Interest from 28%
  15. Woolworths Personal loan

    Woolworths

    • Loans up to R75,000
    • Term up to 60 months
    • Interest from 21%
  16. SA Cash Loans Personal loan

    SA Cash Loans

    • Loans up to R150,000
    • Term up to 60 months
    • Interest from 23%
  17. Investec Personal loan

    Investec

    • Loans up to R250,000
    • Term up to 60 months
    • Interest from 10.25%
  18. African Bank Personal loan

    African Bank

    • Loans up to R250,000
    • Term up to 72 months
    • Interest from 15%
  19. Nedbank Personal loan

    Nedbank

    • Loans up to R300,000
    • Term up to 72 months
    • Competitive rate of interest
  20. Absa Personal loan

    Absa

    • Loans up to R350,000
    • Easy loan application
    • Term up to 84 months
  21. Loans Direct Personal loan

    Loans Direct

    • Loans up to R150,000
    • Term up to 72 months
    • Interest from 30.66%
  22. Finsap Personal loan

    Finsap

    • Loans up to R50,000
    • Term up to 10 years
    • Interest from 5%
  23. Mr Cash Loans Personal loan

    Mr Cash Loans

    • Loans up to R200,000
    • Term up to 60 months
    • Interest from 28%
  24. Wanna Loan Personal loan

    Wanna Loan

    • Loans up to R3,000
    • Term up to 37 days
    • Interest from 60%
  25. Rural Housing Loan Fund Personal loan

    Rural Housing L...

    • Social development
    • Improved living conditions
    • Interest from 25%
  26. LoanFinder Personal loan

    LoanFinder

    • Loans up to R150,000
    • Term up to 60 months
    • Interest from 28%
  27. ICS Loans Personal loan

    ICS Loans

    • Loans up to R125,000
    • Term up to 60 months
    • Interest from 28%
  28. New Heights Finance Personal loan

    New Heights Fin...

    • Loans up to R150,000
    • Term up to 60 months
    • Interest from 25%
  29. Ayoba Loans Personal loan

    Ayoba Loans

    • Blacklisted loans
    • Term up to 2 years
    • Interest from 15%
  30. Zarfin Personal loan

    Zarfin

    • Insurance
    • Investments
    • Financial planning
  31. VECTO Finance Personal loan

    VECTO Finance

    • Loans up to R15,000
    • Term up to 18 months
    • Interest from 28%
  32. Direct Choice Personal loan

    Direct Choice

    • Loans up to R150,000
    • Term up to 72 months
    • Interest from 30.66%
  33. UT Financial Personal loan
  34. Balungile Cash loans Personal loan
  35. Loan Spotter SA Personal loan
  36. Temba Cash loans Personal loan
  37. Find a Loan Personal loan
  38. Finance Quotes Personal loan
  39. The Loan Company Personal loan

    The Loan Compan...

    • Loans up to R500,000
    • Term up to 90 days
    • Interest from 36%
  40. MBC Finance Personal loan

    MBC Finance

    • Loans up to R150,000
    • Term up to 72 months
    • Interest from 38%
  41. Tenant Loans Personal loan
  42. Yebo Loans Personal loan
  43. Just Loans Personal loan
  44. Mzansi Micro Finance Personal loan
  45. Loan Seekers Personal loan
  46. SA Loan Service Personal loan

    SA Loan Service

    • Flexible loans
    • Term up to 84 months
    • Bad credit friendly