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Best Payday Loans in South Africa

Finding and comparing the best short term loans in South Africa is easy with the calculator below. Simply choose your desired amount and hit “Calculate Repayment” to view and compare the best payday loans in South Africa.

Calculate repayments

FinChoice MobiMoney for R2000

1 month
to 3 months
R100
to R6,000
Unknown
Monthly
R883 p/m over 3 mths Inclusive of fees
MobiMoney gives you access to up to R6,000 - when you need it. It's FREE to activate. Only pay for what you use. Same-day withdrawals of between R100 and R6,000. Repay over 1, 2 or 3 months. To qualify, all you need is an SA ID, SA Bank Account, be permanently employed earning more than R7000 monthly.
MobiMoney gives you access to up to R6,000 - when you need it. It's FREE to activate. Only pay for what you use. Same-day withdrawals of between R100 and R6,000. Repay over 1, 2 or 3 months. To qualify, all you need is an SA ID, SA Bank Account, be permanently employed earning more than R7000 monthly.

Wonga Loan for R2,000

4 days
to 6 months
R500
to R4,000
5.00%
Monthly
New customers can borrow up to R4000, and up to R8000 for existing customers; now with 6 months to pay. What you'll need: A cellphone number, SA ID number, bank account details and most recent proof of income.
New customers can borrow up to R4000, and up to R8000 for existing customers; now with 6 months to pay. What you'll need: A cellphone number, SA ID number, bank account details and most recent proof of income.

FinChoice MobiMoney for R2000

1 month
to 3 months
R100
to R6,000
Unknown
Monthly
R883 p/m over 3 mths Inclusive of fees
MobiMoney gives you access to up to R6,000 - when you need it. It's FREE to activate. Only pay for what you use. Same-day withdrawals of between R100 and R6,000. Repay over 1, 2 or 3 months. To qualify, all you need is an SA ID, SA Bank Account, be permanently employed earning more than R7000 monthly.
MobiMoney gives you access to up to R6,000 - when you need it. It's FREE to activate. Only pay for what you use. Same-day withdrawals of between R100 and R6,000. Repay over 1, 2 or 3 months. To qualify, all you need is an SA ID, SA Bank Account, be permanently employed earning more than R7000 monthly.

Lime24 Loans for R2000

5 days
to 36 days
R300
to R5,400
5.00%
Monthly
Have a job? Need cash fast? With Lime24's advanced technology in place, the loan is fast and approved in just 5 minutes. What you need to apply: Be 18+, access to your bank account, 3 months of bank statements and offical RSA ID.
Have a job? Need cash fast? With Lime24's advanced technology in place, the loan is fast and approved in just 5 minutes. What you need to apply: Be 18+, access to your bank account, 3 months of bank statements and offical RSA ID.

Fasta Loans for R2000

1 month
to 3 months
R500
to R8,000
5.00%
Monthly
FASTA Cash, right into your bank account. Apply online and get approval in minutes! Use the cash for whatever you need. Repay in up to 3 instalments. Fasta is not a payday lender, but a revolutionary South African Fintech, offering you a new payment method for online and in-store purchases. Through innovative technology, FASTA provides you with access to credit in minutes.
FASTA Cash, right into your bank account. Apply online and get approval in minutes! Use the cash for whatever you need. Repay in up to 3 instalments. Fasta is not a payday lender, but a revolutionary South African Fintech, offering you a new payment method for online and in-store purchases. Through innovative technology, FASTA provides you with access to credit in minutes.

Wonga Loan for R2,000

4 days
to 6 months
R500
to R4,000
5.00%
Monthly
New customers can borrow up to R4000, and up to R8000 for existing customers; now with 6 months to pay. What you'll need: A cellphone number, SA ID number, bank account details and most recent proof of income.
New customers can borrow up to R4000, and up to R8000 for existing customers; now with 6 months to pay. What you'll need: A cellphone number, SA ID number, bank account details and most recent proof of income.

Finance27 Loans for R2000

7 days
to 50 days
R500
to R4,700
5.00%
Monthly
Borrow from as little as R500 right up to R4000 and receive your loan instantly. Finance27 offers secure cash advances to anyone in South Africa to help you achieve the financial freedom you need. Repayments shown are estimates only. Interest calculated daily.
Borrow from as little as R500 right up to R4000 and receive your loan instantly. Finance27 offers secure cash advances to anyone in South Africa to help you achieve the financial freedom you need. Repayments shown are estimates only. Interest calculated daily.
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Minimum and maximum loan periods vary between 1 months and 6 months. Percentage Rates vary between 5% per month and 38% p.a. Total interest and fee repayments vary over the life of the loan. All rates quoted are 30 days. For more information regarding fees, visit or contact the provider.

About finding the best payday loan

There are many reasons why payday loans have grown in popularity. A short term loan can be secured quickly and be in your bank account by the end of the day.

You don’t necessarily have to have a good credit score, just a stable income and proof that you are employed or self-employed.

South Africans need to provide the following information when applying:

  • Your proof of ID;
  • Proof of residence; and
  • Confirm that you will have a source of income during the loan period.

These loans are ideal for people who may not have an ideal credit score and/or need money urgently.

The repayment term can be anywhere between 1 day through to 6 months.

What are the fees on the best payday loans?

The loan amount, interest rate and services fees determine the cost, with a ceiling on fees set by the South African government.

Costs and fees for a payday loan include:

  • Initiation fee: 16.5% for the first R1,000 borrow, then 10% thereafter
  • Interest rate: Typically 5% per month
  • Monthly service fee: Around R60 per calendar month
  • VAT: 15%

Some lenders charge a little more, others a little less. As you can see from the repayment table above, most lenders are very similar in costs.

Should you get a payday loan?

Payday loans are ideal for South Africans that find themselves in an emergency or urgent situation and are not able to get help from family or friends. Otherwise, burdening yourself with debt is not recommended. Typical reasons for a short term loan:

  • Medical emergency;
  • Repairing an asset which is crucial to running a business and to prevent the loss of income;
  • Paying for unforeseen expenses.

To reiterate, payday loans should not be seen as an addition to your income. They’re expensive and take away from your ability to buy tomorrow. It is also not in your best interest to get comfortable and to spend your loan on leisurely activities.

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