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Payday Loans for R1000

Do you need to borrow R1,000 but not sure how this loan would affect your budget? You can use our loan calculator below to determine the monthly repayment option that will best suit your financial goals.

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

Calculate repayments

MPOWA Finance Loan for R1,000

7 days
to 38 days
R600
to R5,000
0.00%
Monthly
Earn more than R10,000 per month? Then you may be eligible for a zero % interest rates for your first loan! Successful applications received before 3pm will receive money in their accounts by 5pm the same day. All applications are online.
Earn more than R10,000 per month? Then you may be eligible for a zero % interest rates for your first loan! Successful applications received before 3pm will receive money in their accounts by 5pm the same day. All applications are online.

Fasta Loans for R1000

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.

FinChoice MobiMoney for R1000

1 month
to 3 months
R100
to R10,000
Unknown
Monthly
R476 p/m over 3 mths Inclusive of fees
MobiMoney gives you access to up to R10 000 - when you need it. It's FREE to activate. Only pay for what you use. Same-day withdrawals of between R100 and R10 000. Repay over 1, 2 or 3 months.
MobiMoney gives you access to up to R10 000 - when you need it. It's FREE to activate. Only pay for what you use. Same-day withdrawals of between R100 and R10 000. Repay over 1, 2 or 3 months.

MPOWA Finance Loan for R1,000

7 days
to 38 days
R600
to R5,000
0.00%
Monthly
Earn more than R10,000 per month? Then you may be eligible for a zero % interest rates for your first loan! Successful applications received before 3pm will receive money in their accounts by 5pm the same day. All applications are online.
Earn more than R10,000 per month? Then you may be eligible for a zero % interest rates for your first loan! Successful applications received before 3pm will receive money in their accounts by 5pm the same day. All applications are online.

Lime24 Loans for R1000

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 R1000

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 R1,000

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.

Boodle Loan for R1,000

1 day
to 42 days
R100
to R4,000
5.00%
Monthly
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.
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.

Wanna Loans for R1000

5 days
to 37 days
R500
to R3,000
5.00%
Monthly
You can apply from R500 up to R3 000, qualify and get paid the same day!
You can apply from R500 up to R3 000, qualify and get paid the same day!

GetBucks Loans for R1000

1 month
to 6 month
R1,000
to R8,000
Unknown
Monthly
GetBucks helps you to manage your credit profile and your budget while offering personalised credit based on positive payment behaviour, which allows for better repayment terms.
GetBucks helps you to manage your credit profile and your budget while offering personalised credit based on positive payment behaviour, which allows for better repayment terms.

Finance27 Loans for R1000

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. From Cape Town to Kathu Fasta offer secure cash advances to help you achieve the financial freedom you need.
Borrow from as little as R500 right up to R4000 and receive your loan instantly. From Cape Town to Kathu Fasta offer secure cash advances to help you achieve the financial freedom you need.

Southern Finance Loans for R1000

7 days
to 50 days
R100
to R4,700
5.00%
Monthly
Southern Finance offer quick and convenient solutions for any short-term financial issues you may have; from paying unexpected bills to home repairs, and any other emergencies that crop up in everyday life. You can borrow up to R4000 or as little as R500.
Southern Finance offer quick and convenient solutions for any short-term financial issues you may have; from paying unexpected bills to home repairs, and any other emergencies that crop up in everyday life. You can borrow up to R4000 or as little as R500.
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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.

Choose the best R1000 payday loan in South Africa

For a cash loan, R1000 is a relatively small amount which is why it is considered to be only a short term solution. Payday loans are easy to understand once you remember that they are centred around the date you get paid. What this means is if you come across an urgent situation that needs fast extra cash, applying for this type of loan might be your only option.

You can use the money to pay for emergency repairs and bills or other expenses that cannot be delayed until payday. The good thing is, you can benefit from payday loans even if your credit history is not so good. This is why they are often associated with higher than average interest rates and fees.

Find out about best practices that can help you choose the right short term loan for your needs.

What are the fees for a R1,000 payday loan?

  • Initiation fee: 16.5% on the amount borrowed, R165
  • Interest rate: Typically 5% per month, R50, or 3% for existing customers
  • Monthly service fee: Around R60 per calendar month
  • VAT: 15%, charged on the initiation and monthly fee, R33.75
  • Estimated total repayment: R1,308.75 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 longer period of time, interest and monthly fees will change monthly repayment amount.

What you need to apply for a R1000 loan

The exact requirements depend on which lender you use, but usually standard requirements are as follows:

  • A valid South African ID
  • Proof of regular income. This could be a copy of your bank statement or payslip or internet banking details that can be verified online. Generally, these are required to show your bank account activities for the last 3 months.
  • Personal details such as your age (you should be at least 18 years or older), email address, cell phone number, and full name.

How to apply and get a R1000 quick loan

If you have reviewed our featured lenders and their loan offerings, then you’re most likely ready to apply for your loan. Simply click “Go to Site”, and this button will take you to your preferred lender’s website and application page.

Most online lenders have user-friendly application pages where you can click on the “Apply Now” button to fill in the online application form. The loan application can be completed within minutes if you have all the details available. When you submit the form, the lender takes a look at it, verifies the information and then informs you on whether you have been successful or not.

If all is in order, you should expect your online application to be quickly approved in which case the cash loan gets deposited into your bank account. R1000 payday loans are generally same day loans, but this can also vary depending on the lender and other circumstances.

Advantages of R1000 payday loans

  • They’re easy to access

Payday loans are very profitable for most lenders. To attract customers, lenders, therefore, make it easy to obtain these loans. For example, applications are made and completed online in minutes without customers leaving their homes. Most lenders provide same day approval and transfer of the loan into your bank account, which is a popular feature among individuals seeking fast cash relief.

  • They have fewer requirements than other loans

The most favourable thing about getting a R1000 short-term loan is the lack of strict requirements. Verification of your information mostly happens online. Above all, R1000 loans are available as a form of bad credit loans for those with poor credit scores.

  • It’s an unsecured loan

Unlike with secured car loans and secured personal loans, You don’t have to use your personal property to secure the loan. Consequently, there is no risk of losing your property if you fail to pay back the loan.

Disadvantages of R1000 payday loans

  • They’re expensive

Most lenders charge the maximum interest rates allowed by the National Credit Act in South Africa. These lenders want to lower the risk involved in giving out unsecured loans without checking the credit history of their customers. Other unreputable lenders simply want to take advantage of borrowers who are in urgent need of extra cash.

  • It’s easy to find yourself in a cycle of debt

Borrowing only R1000 may seem harmless. However, due to the expensive nature of payday loans, the amount you pay back is considerably higher than the loan amount you receive. The situation worsens if you keep on borrowing. Eventually, you can get stuck in an endless loop of borrowing and repaying larger and larger amounts of money.

Best practice for choosing a R1000 payday loan in South Africa

There are many choices for R1000 loans in South Africa, so it’s important to compare the available options carefully. Best practice involves considering the following factors:

  • The overall cost of the loan – Aside from interest, other charges can increase the total cost of your loan. These include VAT, monthly admin fees, and initiation fees. Knowing about all the costs involved before applying for a R1000 loan will help you decide if you can afford the loan or not.
  • Terms and conditions of the loan – These include the repayment terms. Are you able to pay back the loan in the manner stated by the lender? Also, are you aware of the penalty fees the lender will charge if you fail to pay back the loan as agreed?
  • Reputation of the lender – It is best to borrow from a licensed lender with a good reputation. These types of lenders generally encourage responsible borrowing and offer reasonable rates and loans to people.

What are the repayment terms for R1000 loans?

Depending on the lender, you can choose to pay off the loan over a loan term that is between 4 days and 6 months. The general idea is that lenders expect payday loans to be paid when your next payday arrives. The repayment can be automatically deducted from your account via debit order, so there is little chance of you failing to pay or delaying the payment.

Is a R1000 payday loan right for you?

At the end of the day, a R1000 loan can quickly bring financial relief if you find yourself in a tight spot. The critical thing to remember when dealing with payday loans is that there is still a sacrifice involved in the form of costly charges. Therefore, payday loans should not be a regular solution to all your money problems. Most importantly, neither should the loan be used to cover unnecessary expenses.

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