Rating based on 7 reviews


  • Short-term loans up to R5,000
  • Low-interest up to 38%
  • Repayment up to 90 days

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

About MyMulah

MyMulah has been a registered credit provider since 2019 and prides itself on being able to offer you simple, quick, and affordable short-term loans.

This product is mainly defined by the relatively low amounts you can borrow and the short repayment period. These features make this exceptional financial product a great way to bridge the gap between an emergency and your next paycheck.

Why South Africans choose MyMulah

They’re a microlender dedicated to providing affordable finance in minutes. Specialising in short-term loans, they've found innovative ways to speed up the application and approval process. Additionally, their platform is well laid out and built for easy access.

Their homepage provides sliders to give you an estimate of what the finance you need may cost. An all-inclusive breakdown of what you’ll be paying is provided in a quote before you agree to anything. They prize transparency,  so there won’t be any hidden costs lurking in the fine print.

Get same-day payouts

MyMulah can pay your loan directly into your bank account within 60 seconds of approval. However,  your loan application must be completed between 08:00 and 15:00 during the workweek to make that possible.

Unfortunately, if you apply outside bank hours, you’ll need to wait until early the following day to receive approval and for the money to be deposited into your account. If you submit the forms on public holidays or over the weekend, you’ll have to wait till the next business day for payment.

What MyMulah’s NCR accreditation means

The National Credit Regulator is a government agency put in place to hold credit providers to regulate the credit industry and ensure compliance with a set code of conduct. To receive NCR accreditation, lenders have to agree to work within the boundaries of responsible lending.

This means that MyMulah will never extend a loan to you without confirming that the loan is affordable in your particular circumstances. Their interest rates and fees are also regulated and must fall within the parameters set by the NCR.

They have strict views on protecting your private information. Their privacy policy ensures that your details will never be shared with a third party.

MyMulah Services

Whether you need a little credit to help you get over the middle of the month blues or need some help putting down a deposit on a new flat, MyMulah has you covered.

Their short-term loans can be tailored to your budget.

Borrow up to R 4,000 as a first-time client

Your first loan from MyMulah can be between R100 and R 4,000, depending on the automated affordability and credit check results. You'll gain access to higher loan amounts as you build a positive credit relationship with them.

They offer terms of between one and 90 days, at the end of which the total agreed-upon amount will be debited from your account. It’s possible to apply for a loan extension, but this must be done by contacting MyMulah and discussing it with one of their agents.

Fees and interest is explained upfront

On MyMulah’s home page, you’ll see an estimate of what your chosen loan may cost you and a breakdown of the fees involved. This is only to give you a rough outline of the costs. Once the relevant checks have been performed, they’ll quote you based on their risk assessment.

The interest on your first loan will be calculated at 5% per annum. On any subsequent loans, it’ll be 3%. You’ll also be charged a service fee of R 60 per month and an initiation fee. The latter is calculated at 15% on loans under R 1,100 and R165 plus 10% per month on larger amounts.

Early settlement and how it works

If you’re contemplating paying back your loan before the agreed date, MyMulah won’t add a penalty fee. You can pay the amount by EFT and send the proof of payment to their administration department.

However, you’re responsible for cancelling the debit order with your bank so that the amount won’t be automatically deducted from your account on the due date.

It’s not a train smash if you forget, MyMulah will refund you within 7 working days, but you’ll still be charged bank fees for the debit order.

MyMulah – Short-term loan

  • Loan Type Short-term loans
  • Interest Rate 38%
  • Loan Amount up to R5,000
  • Repayment 1 day to 90 days
  • Monthly Service R165

Benefits of MyMulah

  • Flexible repayment plans
  • Competitive interest rates
  • Easy online application

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.

Online loans made easy by MyMulah

Once you’ve positioned your sliders and are satisfied with the loan parameters, it’s time to register with MyMulah.

Signing up is effortless and only takes a few minutes to complete. The benefit is that the next time you apply for a loan, all your information is already there, which speeds up the process immensely.

How the approval process works

Once your profile is created, you’ll need to upload your documentation and agree to MyMulah accessing your credit profile and performing the relevant checks. Whether you qualify for a short-term loan or not, you’ll receive an SMS to alert you.

From there, it’s smooth sailing. Accept the quote, agree to the loan terms, and they’ll make the payment directly into your account within minutes. Depending on your bank, it may take a little longer to reflect in your account.

Save time by having your documentation ready to go

  • A copy of your valid S.A. ID
  • Bank statements spanning the past 3-months
  • Your latest payslip

To ensure your application is successful you must be 21 years or older and a legal South African citizen.

How to appeal a declined loan application

If at first, you don’t succeed, you can contact MyMulah and appeal their decision.

If you call their offices or drop their appeals department an email, they’ll manually reassess your documentation to see how they can help. You’ll need to resubmit the above-mentioned documents and include a short motivation.

man holding thumbs up

MyMulah is a trusted & reliable provider of short-term loans

In our review, MyMulah 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.

✅ MyMulah is a registered credit provider in South Africa: FSP 2897

Customer Reviews & Testimonials

May 2022

I was in desperate need of a loan that I could afford and would be quick to acquire. MyMulah sorted me out with a short-term loan in no time at an affordable rate.

Busiswe M
— Braamfontein —

November 2021

I would like to thank the entire team at MyMulah for assisting me quickly and professionally with the quick loan I needed. Their loans are quick and affordable. John Plaatjies from Humansdorp.

John P
— Humansdorp —

MyMulah Contact

Physical Address

  • Block A, Waterkloof Rand Corporate Park, 358 Buffelsdrift St, Erasmusrand Pretoria Gauteng 0181 South Africa
  • Get Directions

Postal Address

  • P.O Box 1614 Groenkloof, Pretoria, 0027, South Africa

Opening Hours

  • Monday 08:00 – 16:30
  • Tuesday 08:00 – 16:30
  • Wednesday 08:00 – 16:30
  • Thursday 08:00 – 16:30
  • Friday 08:00 – 16:30
  • Saturday – Closed
  • Sunday – Closed