Payday loans in Gauteng – South Africa
The best place to search for short term loans in Gauteng
CompareLoans provides a multi-lender platform where you can compare loans in one place. For starters, our comparison table above feature popular payday lenders in South Africa.
How much can you borrow?
Since payday loans have to be paid off quickly, borrowing limits typically range from small amounts of R100 or R500 up to R4000. Some lenders offer a maximum of R8000 to existing clients.
When do you pay back the loan?
For short term loans like payday loans, repayment periods are limited between 4 days and a maximum of 6 months. Some lenders require that you repay the loan on your next pay date as a lump sum. With others, you can choose a longer term with instalments.
Payday loan calculator
Payday loan interest rates are a bit higher than interest rates for personal loans. Use our payday loan calculator to get an estimate of how much the loan will cost you as you pay it back. Set the sliders to match your loan amount and term, then click calculate.
Can you find instant payday loans in Gauteng?
If you have a particularly urgent need, some lenders offer instant loans that have a fast application process. Once you apply, you can receive the money within minutes. Typically, most payday loans are paid into your bank account on the same day or within 24 hours of applying.
Advantages of payday loans
- Easy to find;
- Fast application process;
- Convenience of applying online;
- Less paperwork involved;
- Usually no credit checks; and
- Money usually gets transferred into your bank account quickly.
Payday loans for the blacklisted in Gauteng
Having an emergency and a bad credit score might mean double trouble. Luckily, you might be able to access payday loans for blacklisted in Gauteng, especially since most lenders don’t carry out credit checks. However, try to pay off the loan as soon as possible. This helps you avoid high-interest costs that can trap you in a vicious debt cycle.
What you need to apply for a payday loan in Gauteng
- Be at least 18 years old;
- Have a South African Bank account;
- Have South African citizenship;
- Be employed with a regular, monthly income;
- Proof of income – bank statements and payslips; and
- Proof of residence.
Online application for payday loans in Gauteng
Once you pick a lender from our comparison table, click their “Go to Site” button, visit their website and apply. Usually, this involves filling in a short application form and sending your documents to the lender.
Once the cash loan is available, it can be used to cover short term needs such as car repairs and medical bills.
Popular payday loan searches