Rating based on 85 reviews

Cobol Loans

  • Short-term loans up to R5,000
  • Low-interest starting from 124%
  • Repayment up to 6 months

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Cobol Loans homepage
Author Cobol Loans. Screenshot of Cobol Loans website.
[Accessed January 30, 2023]

Cobol Loans – Absolutely stress-free

If you need a loan that guarantees to put money in your pocket quickly and easily, well, look no further as Cobol has the solution for you.

With their simple, stress-free loans and a 6-month fixed repayment term, it has never been this easy to apply for a loan. They know how frustrating it can be when expenses crop up, or when there is more month left at the end of your money.

Get your loan approved today

For short-term loans of up to R3000 Cobol guarantees you an answer on the same day. No more sitting around for days and waiting to find out if you are approved as the approval process is done in minutes and once you are approved – you will be able to get your cash in a few hours.

From 2006 to date, they have helped thousands of South Africans with quick, convenient short-term loans and their friendly consultants have always been there to help clients every step of the way.

Cobol is a registered Credit Provider in terms of the National Credit Act No. 34 of 2005 and they believe in responsible lending.

Loans up to R3000

They don’t want you borrowing money beyond your means, or getting into debt. Fees and interest can quickly add up if not managed correctly.

That’s why their short-term loans are best used for unforeseen expenses such as car repairs or unforeseen medical bills. If you are already over-indebted, you can contact a debt counsellor to help you get back on your feet as well as help you manage and contain your debt, which will, in turn, increase your affordability.

When you need a little cash to see you through

Cobol offers loan amounts that range from as little as R1000 right up until R3000, perfect for when you need a little fast cash to see you through the rest of the month.

Once you have completed their easy online process and you have been approved, the cash will be in your bank account in less than 24 hours. This makes their service unique and is especially great in those emergency situations when you need cash in a hurry.

With them, there is always a way out of a hopeless financial situation.

Cobol Loans – Short-term loan

  • Loan Type Short-term loans
  • Interest Rate 124212% p/a
  • Loan Amount up to R5,000
  • Repayment 7 days to 6 months
  • Decision Same day

Benefits of Cobol Loans

  • Same day loans
  • Fixed repayment terms
  • Easy online applications

Short-term loan calculator

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

Cobol Loans Online – Fast & convenient, when you need it

You can simply type in your South African identification number and choose a password.

Now you are one step closer to your simple, stress-free instant loan. If you prefer to call them, you can do that too as they will gladly assist in the most efficient and professional manner.

Steps when applying for a loan

Apply for your loan online by simply giving them your South African Identification number and setting up your own unique password.

Once this step has been completed you will be asked for your one-time pin. You’ll need to enter your South African cell phone number, the one-time password/pin will then be sent to your cell phone to verify your number.

Enter your unique one-time pin and the website will then generate an online loan application form for you to fill out.

They will get back to you shortly after your application has been processed.

Fast & convenient

On approval of your loan application, you will have five (5) business days to accept their offer. Thereafter, you would need to reapply for a loan offer. If you decide to accept their offer within the five (5) business days they will then send you a copy of the Credit Agreement, which will reflect everything that has been agreed upon. The loan amount will then be deposited directly into your account.

Loan repayment schedule

The repayment is just as quick and easy. The loan repayment amount will simply be deducted via debit order straight from your bank account, making missing a payment very unlikely and giving you peace of mind.

The interest rate is fixed for the duration of the agreement and is calculated on the daily closing balance and capitalised monthly. You will be charged a monthly service fee.

Simply provide them with the following details:

  • Full name
  • Cell phone and contact numbers
  • E-mail address
  • Physical address
  • Banking details

Affordability explained

To find out if you are able to borrow money and are financially able to pay it back timeously, they have to ask you some personal questions. They are specifically designed to establish if you are able to afford a short-term with your current financial circumstances.

Cobol needs to establish that you:

  • are not under debt review,
  • not in the process of applying for another loan
  • and that you are mentally fit to enter into a loan agreement.

Once you have answered their questions, your information will undergo a sophisticated credit assessment, these tools will determine whether you would be able to afford the loan or not.

How to keep track of my payments

To help make it easy for you to keep track of how much you have paid, and how much you still owe. Cobol has made it easy for you, by providing you with a mini statement every month and a full statement every three (3) months. Their statements are sent via email for your added convenience.

Do they accept early repayment

If you would like to settle your loan early, e-mail them and they will then give you a settlement amount. If you send them an email and ask them to, they can even have the full amount deducted from your bank account. How is that for a fast and simple solution to paying back the money?

What if I am unable to repay the money

If you are unable to repay your short-term loan due to unforeseen circumstances, they will help you through all the correct channels, including seeing a debt counsellor. They will then come up with a payment plan that you can indeed afford.

man holding thumbs up

Cobol Loans is a trusted & reliable provider of short-term loans

In our review, Cobol Loans adheres to the compliance criteria in accordance with the National Credit Act, where the granting the loan will not cause financial distress to the consumer.

✅ Cobol Loans is a registered credit provider in South Africa: NCRCP 7055

Customer Reviews & Testimonials

October 2018

Not only is Cobol fast but secure. You need not worry about the security of your information and their website. Everything needs to be verified with the assistance of your cell phone and a specia...

Hlumela S
— Soweto —

May 2019

After I had to rush my pooch to the vet I was not sure if I would see it through the month. Thanks to Cobol I was able to pay off the vet bill with money to spare! Thank you for sparing me the fi...

Hailey V
— Roodepoort —

August 2019

If you are looking for a lender where you can be flexible with you terms and borrowing amounts then Cobol is the lender for you. When I got a loan with them I was able to determine the best loan ...

Gabriella K
— Randburg —

August 2021

They are a fair and well-organised provider that I have trusted multiple times and never have let me down.

Putelwa S
— Queenstown —

October 2021

I am so pleased with the service I received from them. They do business in a straightforward and simple manner.

Jacobs P
— East London —

November 2021

I felt very safe applying for my loan with them and they were very fast too. Great company!

De Klerk M
— Sterkstroom —

Cobol Loans Contact

Contact Number



Physical Address

  • 702 Boland Bank Building, 18 Lower Burg St, Cape Town City Centre Cape Town Western Cape 8001 South Africa
  • Get Directions

Postal Address

  • PO Box 2961, Cape Town, 8001, South Africa

Opening Hours

  • Monday 08:00 – 17:00
  • Tuesday 08:00 – 17:00
  • Wednesday 08:00 – 17:00
  • Thursday 08:00 – 17:00
  • Friday 08:00 – 17:00
  • Saturday – Closed
  • Sunday – Closed