Payday loans in Johannesburg – South Africa
At times, when you need extra cash, you don’t always have to wait until month-end. Keep reading to find out how you can apply for a payday loan in Johannesburg.
Where can you get payday loans in Johannesburg?
You’re already in the right place! Start looking for lenders in our comparison tables above. Also, go through this list of South African payday lenders and click on your choice to find out more. To keep the loan selection process simple, use the following factors to compare loans until you find the best option for you:
- Interest rate;
- The amount you’re allowed to borrow;
- If they offer instant cash loans; and
- Whether it’s possible to get an online payday loan.
Understanding payday loans in Jo’burg
How can a payday loan help you? A payday loan gives you fast cash when you need it. Emergencies are normal in our day-to-day life, whether it’s some form of sickness or bills that need paying. Here’s what you should know about payday loans in Jo’burg:
- How much can you borrow? – Loan amounts start from R100 and go up to R8 000. Your borrowing limit depends on your income level and whether you’re a new customer.
- For how long? – Payday loans are short term loans. Typically, the repayment period is between 30 days and 6 months.
- How do you pay back the loan? – Most lenders debit order the payment. That means the money will be automatically deducted from your account on the due date you choose.
- What are the interest rates and charges? – These vary from lender to lender. However, always check to make sure the lender is honest about all the charges involved. For transparency, some lenders have payday loan calculators that show you the total cost of your loan before you apply.
What you need to apply – General Requirements
- Be 18 years or older;
- Valid South African ID;
- South African bank account;
- Proof of income – bank statements and payslips; and
- Proof of residence.
Get instant payday loans in Johannesburg
You can apply for payday loans online in Johannesburg through CompareLoans. It’s easy and quick with our comparison tables above:
- Once you finish comparing loans, click the “Go to Site” button for your desired lender.
- When you’re directed to the lender’s website, log in or create an account.
- Fill in the payday loan application form and submit the required documents.
- If you qualify, you get the cash loan within 24 hours, but some lenders even promise instant loans.
Advantages of payday loans
Whether you’re in Johannesburg or another part of South Africa, payday loans typically offer the following benefits:
- No credit checks;
- Easy approval;
- No strict requirements;
- No security required; and
- You might still get cash if you’re blacklisted or have a bad credit record.
Popular payday loan searches