Important disclosure

Find the lowest interest rates for R200 loans

You could need to borrow R200 on a short-term basis but not sure how this loan will affect your budget. Our easy to use loan calculator below can help you to determine the monthly payment that will best suit your budget.

Once you click calculate, you will get a monthly payment estimate. This way you can better compare the loan options among South African lenders.

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Loan Amount


FinChoice MobiMoney for R200

Estimated Month Repayments
R138 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 R200

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.

R200 loans for South Africans

While the amount might seem small, there are times when you need every little rand you can lay your hands on. Food might unexpectedly run out, or you might just be having a difficult time before your payday. At one moment or another, you could find yourself in such a situation, and the R200 loan might be the answer you seek.

What is a R200 loan?

A R200 payday loan is a short term, unsecured cash advance that has a relatively high-interest rate. Typically, this kind of credit should be paid back in a short space of time. You can get such a loan when you need to cover essentials such as food or an unexpected expense. While payday loans are usually issued to people who have a salary, lenders can also consider you if they are confident that you will have access to repayment money soon.

How does a R200 loan work?

Payday loans make money available to you in times of emergency. The application process is quite easy and often done online. The lenders also make sure that their response time is very fast so that you can get the R200 when you need it the most. However, you should not take out a payday loan unless you have to. It is not the type of loan that you should apply for if you need funds for non-essential or unnecessary expenses.

What are the fees for a R200 payday loan?

  • Initiation fee: 16.5% on the amount borrowed, R33
  • Interest rate: Typically 5% per month, R10
  • Monthly service fee: Around R60 per calendar month
  • VAT: 15%, charged on the initiation and monthly fee, R13.95
  • Estimated total repayment: R316.95 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 the monthly repayment amount.

How to compare payday loan providers before applying for a R200 loan

Payday loans already have rather tricky terms, but some lenders will offer better deals than others. Apart from that, it is always important to compare your options before taking out a loan. Consider the following when comparing payday loans:

  • Interest rate;
  • Repayment period;
  • Registration with the National Credit Regulator;
  • Online reviews;
  • The ease with which the customer care team can be contacted, and their speed of response.

Are payday loans safe?

Payday loans in South Africa usually involve online application. The entire process can be carried out so that you receive money in the comfort of your home. However, there will always be some lenders looking to take advantage of desperate borrowers. You, therefore, need to do your research before you borrow. Generally, you’re protected as long as the lender is licensed and registered with the National Credit Regulator.

Do you need a good credit rating to get a R200 loan?

Most payday lenders do not perform credit checks when they review your application. Thus, the R200 payday loan is ideal for people who have bad credit. The good thing is, lenders, make them available as long as you earn a regular monthly income.

R200 Payday loan: What are the application requirements?

Payday loans have very few requirements. This ensures that you easily qualify and it also shortens the application process. To apply for a payday loan, you have to meet the following criteria:

  • Have an active personal bank account
  • Own a valid government-issued South African ID
  • Have an accessible and personal email address or phone number
  • You should be 18 years and over
  • You should be gainfully employed or self-employed with a regular income

How to apply for a R200 loan

The payday loan application is a very short process that can be done online in the comfort of your home. After you select a lender from our featured payday loans, click on “Go to Site.” You will be automatically redirected to their website.

The application process involves uploading the required documents and secondly filling out an online application form. When you are done, you can click submit or send then wait for a response. The lender usually responds within a few minutes to 24hours at most.

How to pay back a R200 loan

Most payday lenders set up a debit order to ensure that the amount will be deducted from your account as soon as you get your salary. If you are not employed, the lender will provide a way for you to repay the loan once a payment comes in.

Advantages of a R200 payday loan

  • You get cash fast: The application process is quite convenient as it is easily done online. The lenders also respond quickly. As a result, you can get your money on the same day, enabling you to react quickly to any emergency.
  • Easy application process: You only have to meet a few requirements and submit minimum information to get approval. There is no collateral needed since the loan is unsecured.
  • You know the terms up front: You will know about all the fees and interest rates beforehand. This helps you to choose the lender with the best deal.
  • Accessible credit option: Payday loans are available to everyone, even those with bad credit. This makes them very convenient if you do not have any other options.

Disadvantages of a R200 payday loan

  1. The high-interest rates make the cost of borrowing even such a small amount costly.
  2. Late payments come with costly fees. If you pay too many fees on your R200 loan, it might not be worth it.

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