Important disclosure

Find the best interest rates for R400 loans in South Africa

If you would like to borrow R400, our loan calculator can help you to make a better financial step.

It’s a simple tool that can help you compare loan options. Compare which South African lender is offering you a more suitable repayment option. Go ahead and try it today.

Calculate repayments

Loan Amount


FinChoice MobiMoney for R400

Estimated Month Repayments
R223 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.

Lime24 Loans for R400

Estimated Month Repayments
Interest Rate
Repayment Period
5 days
to 36 days
Loan Amounts
to R5,400
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.

Boodle Loan for R400

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.

Get a quick R400 loan in South Africa

We all know that bank accounts everywhere have their ups and downs. Money goes in when it’s payday, and it gets used up during the month. When your bank balance is low, something as little as R400 can be a big help. This small loan amount might go towards covering unexpected bills, emergency travel needs, or sudden sickness. With the information provided, you will find relief knowing that you have a reliable backup when you run out of money, and your payday is still too far away.

About the R400 payday loan

A typical R400 loan is a small, unsecured amount that has to be paid back on your next payday. That, however, is just the working theory, some payday loans can be paid back over a few months, but the majority do not exceed 6 months.

You might not be familiar with payday loans. They are sometimes referred to as a cash advance, payday advance loan, fast cash or fast loan, bad credit loan, or paycheck advance.

Advantages of R400 payday loans

  • Easy access: Payday loans are quite easy to access nowadays. The only thing you need is an internet connection and a computer or phone, and you can browse several payday lenders online. The R400 payday application process is also done online, so you don’t even have to leave your home’s comfort to make an application. This saves you time and transport money as well.
  • Fewer requirements: Payday loans are unsecured, so the lender will not require a lot of details for you to be able to apply for the loan. The only information you need to provide is your contact details, banking, and employment details.

How to choose a R400 loan lender

  • The lender should be legally registered with the national credit regulator.
  • Check to see how easy it is to get in touch with their customer service team and how quickly you can respond.
  • Compare their interest rates and repayment terms with those of other lenders.
  • Go over their loan agreement documents and ask questions until things are clear.
  • Check online payday lender reviews from other people who have borrowed from them.

R400 loan requirements

Important requirements when applying for a R400 loan are:

  • You should be above the age of 18yrs;
  • Be a South African government-issued ID holder;
  • Be employed, or self-employed with a source of regular income; and
  • Have your own South African, active bank account.

The fewer requirements certainly make getting cash a lot faster and easy. However, note that some of these requirements are put in place to help protect you from irresponsible borrowing. Similarly, as per the terms of the National Credit Act, lenders are discouraged from any form of irresponsible lending.

Who should apply for R400 loans?

R400 short term loans are meant for people in need of cash immediately. They are also a good option for people who have a bad credit history. A R400 payday loan can come in handy if you need to address a small cash problem, like an unexpected utility bill or even a travel expense.

Before applying for a R400 loan, it is also essential to consider whether you’ll be able to pay the R400 loan back in the specified period. This loan will be ideal for you if you receive a regular monthly or weekly salary because you will be sure that you can pay it back without any budget troubles.

What are the fees for a R400 loan?

  • Initiation fee: 16.5% on the amount borrowed, R66
  • Interest rate: Typically 5% per month, R20
  • Monthly service fee: Around R60 per calendar month
  • VAT: 15%, charged on the initiation and monthly fee, R18.90
  • Estimated total repayment: R564.90 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.

How to apply for a R400 loan

The R400 payday loan application process is quick and easy. The first step is selecting a lender that you would want to work with. For this, use the comparison tables provided by CompareLoans. From there, click on “Go to Site.” Next, complete a form on the lender’s website and upload bank statements, ID copies, and other required documents if needed.

When all that is done, you can submit the online loan application, and a response should be coming your way shortly. Most lenders often respond in a few minutes and within 24 hours at most. If the response is a favourable one, you can expect the funds in your bank account instantly.

How do I pay back my R400 loan?

The lender can take care of this for you through automatic deductions (debit order) from your bank account. These are centred around the dates your salary reflects. You can also transfer the repayments to the lender’s account on your own.

Can I repay my R400 loan earlier?

There are no penalties associated with paying up a payday loan earlier than required. This can work in your favour since you won’t have to pay lots of money in interest. If you need to pay it back earlier, you can get in touch with the loan provider and inform them of your decision. They will guide you on which actions to take. It is important to consult them since they might have set up a debit order with your bank.

What should I do if I can’t repay my R400 loan?

The first step that anyone should take if they fail to meet their payday loan deadline is to get in touch with the loan provider before the due date. Depending on the loan agreement, the lender can extend your payment period and allow you to pay up when you can. This, however, might attract penalties and additional interests. Payday loans are high-interest loans, so the longer you take to complete payment, the more the repayment amount.

Can I get a payday loan if I have bad credit?

Yes. Most payday lenders do not perform any credit checks. You can get a R400 loan even if you have a poor credit score.

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