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Payday Loans for R3000

Borrowing R3,000 can be hassle free when you plan for it. South African lenders offer a bevy of loan options that could suit your budget and our specifically formulated loan calculator below can help you determine the monthly payment.

If you are happy with the loan amount, click calculate to get an estimate of the monthly repayment. This way you will be able to compare loan options among South African lenders.

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FinChoice MobiMoney for R3000

1 month
to 3 months
R100
to R6,000
Unknown
Monthly
R1,289 p/m over 3 mths Inclusive of fees
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.
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.

Wonga Loan for R3,000

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.

FinChoice MobiMoney for R3000

1 month
to 3 months
R100
to R6,000
Unknown
Monthly
R1,289 p/m over 3 mths Inclusive of fees
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.
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.

Lime24 Loans for R3000

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 R3000

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 R3,000

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.

Finance27 Loans for R3000

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. Finance27 offers secure cash advances to anyone in South Africa to help you achieve the financial freedom you need. Repayments shown are estimates only. Interest calculated daily.
Borrow from as little as R500 right up to R4000 and receive your loan instantly. Finance27 offers secure cash advances to anyone in South Africa to help you achieve the financial freedom you need. Repayments shown are estimates only. Interest calculated daily.
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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.

All about R3000 payday loans

There are often times when you’re faced with a tough situation, and your finances won’t make it to month-end. Despite careful budgeting, something unexpected like a medical bill may leave you with an emergency that can’t wait until payday. At times like these, a R3000 payday loan is a viable emergency fund that can save you for the rest of the month.

Discover more about how you can apply for this loan amount.

What is a payday loan?

These are short-term unsecured loans. They’re designed to give you quick access to money when you find yourself with an emergency. Payday loans, as their name suggests, usually need to be paid back when your next pay comes in.

At this point, the full amount gets deducted from your account. Alternatively, you can pay back the loan over a longer time and with several instalments. If you need a loan for home improvement and other purposes, you can look at other long term loan options such as unsecured personal loans.

Where can you get a R3000 payday loan?

There are two main sources of R3000 payday loans, and these are brokers and direct lenders. Direct lenders offer payday loans to their customers through their website. Going direct means you avoid go-betweens who charge extra fees. Also, there is clearer communication since you are dealing directly with the lender.

However, some brokers won’t charge you any fees, and they will link you with many available options in one place.

How to compare your R3000 loan options

Consider the following before choosing your R3000 payday loan:

  • Fees. There is a maximum fee that payday lenders can charge, you should make sure that you are choosing a lender who will not overcharge you.
  • Repayment terms. Generally, these types of loans have a short repayment period. The lender usually expects their money when you get paid. The term, however, ranges from 4 days to 6 months.
  • The reputation of the lender. It is crucial to check the reputation of the lender before you apply. A lender should be easy to contact, and they should be transparent with their fees and information.

Advantages of a R3000 payday loan

  • R3000 payday loans can be processed within a few hours and be in your bank account in as little as an hour.
  • The application process requires less paperwork as compared to other types of instalment loans. For instance, you simply download and send a digital version of your bank statement that is readily available online.
  • There is no need to join queues at the bank. Instead, you can apply online at home.

Disadvantages of a R3000 payday loan

  • They have high fees. These loan offerings are unsecured; hence lenders tend to charge very high fees because of their high-risk nature.
  • High chance of dishonest lenders. Some lenders take advantage of the fact that you need cash quickly. It is best to research the lender before you submit a loan application.
  • Constant borrowing. Lenders favour repeat customers by making the second loan easier to   for than the first. This might be a convenient option to have available, but it can also be a dangerous trap to fall into.

What are the fees for a R3000 payday loan?

  • Initiation fee: 16.5% on the first 1,000 and 10% thereafter, R365
  • Interest rate: Typically 5% per month, R150, or 3% for existing customers
  • Monthly service fee: Around R60 per calendar month
  • VAT: 15%, charged on the initiation and monthly fee, R63.75
  • Estimated total repayment: R3,638.75 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 the monthly repayment amount.

Find out if you qualify for a R3000 loan

Generally, the following conditions have to be met for a person to qualify:

  • Age: You need to be over the age of 18
  • Citizenship: You need to have a valid South African ID or permit.
  • Income: You have to be earning a regular income.

What information do you need to provide during the application process?

This differs between loan providers, but generally, the following will be required:

  • Your bank account activity for the last 3 months
  • Your name, ID number and contact information
  • Employment details and proof of a regular income

How to apply for a R3000 loan

When you have found an appropriate loan, the next step is to find out how you can make your application. For most loan providers, the application page is quite easy to locate. We have made it easier with our “Go to Site” buttons for featured lenders in the comparison table above.

Once you get to the application page, you will have to complete a short application form. On average, it takes as little as 10 minutes to submit the form. After that, you only have to wait a few more minutes to find out if your application has been successful.

What are the risks of a R3000 payday loan?

  • Unlicensed lenders

Before applying, carry out some research to find out if the lender is a registered credit provider. Doing this helps you to avoid getting charged more than what the National Credit Act allows.

  • Costly repayments

It is important to consider the repayment terms. Make sure that you will be able to pay back the full amount during the loan term. If you fail to do that, extra fees may apply. On top of that, you can also get a bad credit score. Another thing to 9remember is that loan terms for payday loans are usually shorter than regular loans.

  • Legal issues

Once your loan is approved and you get your money, you have to honour the terms and conditions you agreed to. Since these loans are unsecured, the lender may take legal action against you if you fail to repay the loan.

Popular questions about R3000 loans

Can I get a R3000 payday loan with bad credit?

Many short term payday lenders will still consider you even if you have bad credit. Lenders who do not perform credit checks will require evidence of your ability to pay back the loan before they can approve it.

How do I pay back the loan?

Most lenders will collect the money automatically from your account on the repayment due date. This is only done if you agree to the lender’s terms and conditions. The repayment gets deducted from the same bank account that you receive your pay.

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