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Find the lowest interest rates for R100 loans

Need to borrow R100? Not sure how this loan will affect your budget in the long or short term? Use our calculator below to calculate your loan details so that you can determine the repayment option that will best suit your financial goals and budget.

Once you adjust the loan term you can click calculate to get a monthly payment estimate. This way you can compare options among South African lenders.

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Loan Amount


FinChoice MobiMoney for R100

Estimated Month Repayments
R69 p/m over 3 mths Inclusive of fees
Interest Rate
Repayment Period
1 month
to 3 months
Loan Amounts
to R6,000
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.

Boodle Loan for R100

Estimated Month Repayments
Interest Rate
Repayment Period
1 day
to 42 days
Loan Amounts
to R4,000
We want to make applying for a Boodle loan as fuss-free and fast as we possibly can. So to help us get your Boodle loan in the bank quickly, simply follow our step-by-step process. provides factual information in relation to financial products. While attempts to make a wide range of products and providers available, it may not cover all the options available to you. Moreover, we cannot be responsible for changes made to this information by product providers and/or inaccurate information obtained from a product provider. All product information comes from the product provider or publicly available information and to the best of our knowledge is correct at the time of publishing. The information published on is general in nature only and does not consider your personal objectives, financial situation or particular needs and is not recommending any particular product to you. If you decide to apply for a product you will be dealing directly with that provider and not with recommends that you read the relevant product disclosure statement or product guide before taking up any financial product offer. For more information please see's Terms of Use.

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.

R100 loans: All you need to know

A R100 loan is a very small loan amount that can only pay for a few things. It may seem like a minimal amount in comparison to larger sized loans. Yet, an extra R100 can be crucial when you’re faced with a short-term emergency. This uniquely small loan is relatively affordable even when interest rates and other charges are factored in. Believe it or not, sometimes a R100 loan can do a lot for you. This article, therefore, gives you all the information you need about R100 loans in case of a short-term emergency.

What is a R100 loan?

A R100 loan is an unsecured, short term loan that you can take out when you urgently need a few extra rand. Unlike other loan types, you do not need to provide any collateral when taking out a payday loan. As the name suggests, lenders usually expect you to return the money you would have borrowed when you get your salary.

The main benefit of a R100 payday loan is that it is instant. You can receive the loan within a few minutes at best. Another thing is that you don’t have to think too much about borrowing the loan because it is such a small amount. Still, you should also ensure that you have a solid plan to repay the loan before the due date.

R100 payday loan: What to consider before applying

Payday loans at times come with very high-interest rates and a short repayment period. Because a R100 loan is smaller sized, it is easy to overlook the loan’s total cost. Taking out a R100 loan you can’t afford can cause a small upset in your budget. This, in turn, can lead to bigger financial problems later on.

Before you take out a payday loan, make sure you can repay the loan on time. Remember, the longer you delay full repayment, the more you end up paying long term.

Choose the best lender for your R100 loan

  • You can read online reviews from people who have borrowed from the lender before and check if the majority are positive. You can also see if the reviews are consistent with the information displayed on their website.
  • Check out whether they are a registered credit provider with the National Credit Regulator in South Africa.
  • Go through the lender’s terms and conditions before you make the loan application to find out what is favourable for you.
  • Find out how easy it is to contact their customer service.

What are the fees for a R100 payday loan?

  • Initiation fee: 16.5% on the amount borrowed, R16.50
  • Interest rate: Typically 5% per month, R5
  • Monthly service fee: Around R60 per calendar month
  • VAT: 15%, charged on the initiation and monthly fee, R11.48
  • Estimated total repayment: R192.98 if repaid in 30 days

Final costs may vary a little between lenders. However, as you can see from the comparison table above, most lenders charge a very similar amount. If you repay the loan over a more extended period, interest and monthly fees will change the monthly repayment amount.

Can you get a R100 payday loan if you are blacklisted?

If you end up blacklisted for some reason or have a bad credit score, major lenders will likely deny your application for a personal loan. However, when it comes to a R100 payday loan, your chances of getting the money are very high, even with a poor credit score or a blacklisted status.

A good number of South African payday lenders will not even perform credit checks after you submit your R100 loan application. Instead, all they need to know is if you can pay back the loan or not. With the R100 payday loan, you can settle your expenses without having to pass any credit tests.

R100 payday loan: What you need to apply

Payday lenders require that you at least be above 18 years old. You also have to be a SA citizen or a permanent resident. Finally, you need to have a regular source of income. Apart from that, you might need to provide the following information as you fill out your application:

  • A South African government-issued form of identification;
  • Your contact details – email, phone number, physical address;
  • Proof of income;
  • An active bank account in your name.

How to apply for a R100 payday loan

The R100 payday loan application is made online. The first step involves choosing a payday lender. has several options available for you on their comparison tables. The “Go to Site” button takes you to each respective lender’s website.

Here, simply follow the guidelines provided. Generally, the process involves filling out an application form, uploading some copies of your documents, and submitting the two. Typically, the lender replies in a few minutes. On principle, you can expect the R100 loan within 24 hours as long as you qualify.

How do you pay off your R100 loan?

With a loan this size, it is likely that you’ll be required to make a single repayment instead of paying in installments. This once-off repayment often has a due date that matches your next payday. The lender can deduct the money via debit order or allow you to make the repayment on your own. You can negotiate a loan extension if you can’t make the repayment on time—otherwise, a late payment results in additional penalty charges and, possibly, a lowered credit score.

Benefits of a R100 payday loan

  • You can complete the R100 loan application in the comfort of your home: Payday lenders allow you to apply online; what this means is there is no need to leave your house and visit a physical branch.
  • Payday loans have a quick turnaround time: After your application is complete and approved, the money gets deposited into your account before the end of the day. This same day policy also applies to cash pick-up options.
  • You can apply even if you’re unemployed: Other payday loan providers will allow you to apply even if you are not employed. This can be possible if your bank statements prove that you receive some income that will enable you to cover the loan repayment.

Risks of R100 payday loans

  • Higher interest rates: Payday lenders often charge borrowers, especially those with bad credit, higher interest rates. This can make even a R100 loan expensive.
  • Shorter repayment terms: A R100 loan has a very short repayment period. Depending on the date of application, it can be due in the next 2 to 4 weeks after the day of borrowing. As such, you must be sure you will have the money to pay back the full loan amount by then.

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