Important disclosure

Personal loans for casual employees

A casual loan could help you quickly meet your next short term goal. To help you decide on the best deal in town, we have created a personal loan calculator so you can compare loan options among South African lenders.

Use the toggle to move between the loan duration and adjust the loan amount to suit your budget. Go ahead and give it a try.

Calculate repayments

A cash loan from R2 000 up to R250 000. Fast, paperless application process. Decision in seconds. Cash in your account within 24 hours. Flexible repayment options; choose from 12 to 60 months. Free monthly statement via email or SMS. Customer Protection Insurance. Interest from as low as 15%.

Overview

Minimum loan amountR2,000

Maximum loan amountR250,000

Minimum term (months)12 months

Maximum term (months)60 months

Personal loan interest rates (base)15.00%

Personal loan APR15.00%

Monthly repayments (approx)R796

Total repayments (approx)R28,656

Total interest repayments (approx)R8,656

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR936.50

Minimum monthly incomeR2,000

GO TO RCS

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0861 729 727

Data accurate as of18.01.2020

GO TO RCS

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Get up to R250 000 over 1 – 84 months. Choose between the amount you want, the monthly installment that suits your pocket, or the option that gives you the lowest interest rate. Credit is approved in minutes and the money is available immediately. Pay fixed monthly repayments.

Overview

Minimum loan amountR50,000

Maximum loan amountR100,000

Minimum term (months)1 month

Maximum term (months)84 months

Personal loan interest rates (base)14.20%

Personal loan APR14.20%

Monthly repayments (approx)R797

Total repayments (approx)R28,692

Total interest repayments (approx)R8,692

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR3,000

GO TO Capitec Bank

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0860 66 77 89

Data accurate as of12.07.2020

GO TO Capitec Bank

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Loans up to R250,000. Terms between 7 months and 72 months.

Overview

Minimum loan amountR10,000

Maximum loan amountR250,000

Minimum term (months)7 months

Maximum term (months)72 months

Personal loan interest rates (base)15.00%

Personal loan APR15.00%

Monthly repayments (approx)R805

Total repayments (approx)R28,980

Total interest repayments (approx)R8,980

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR2,000

GO TO African Bank

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityNo

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?No

Sponsored No

Telephone0861 111 011

Data accurate as of18.01.2020

GO TO African Bank

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Tired of those expensive repayments? Then switch your personal loans to Absa. It’s easy and with our guaranteed lowest interest rate, you will start saving money immediately. We can switch your personal loans of up to R350 000 and pay your creditors directly.

Overview

Minimum loan amountR15,000

Maximum loan amountR350,000

Minimum term (months)12 months

Maximum term (months)84 months

Personal loan interest rates (base)18.82%

Personal loan APR18.82%

Monthly repayments (approx)R845

Total repayments (approx)R30,420

Total interest repayments (approx)R10,420

Rate typeFixed or Variable

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR2,000

GO TO Absa

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityNo

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feen/a

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0860 100 372

Data accurate as of12.06.2020

GO TO Absa

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Absa Study Loan

Absa
12 months
to 60 months
R15,000
to R100,000
10.00%

View fees & additional info +

Our study loan offers you the opportunity to borrow funds at a low interest rate to support yourself or someone you would like to benefit from study funding. Finance your full tertiary experience from the tuition fees, accommodation, study book and technical equipment you need for your studies. If you take out our study loan and you’re offered a lower interest rate elsewhere, we’ll beat it. Terms and conditions apply. Pay interest only for the 12 months and only start repaying from month 13.

Overview

Minimum loan amountR15,000

Maximum loan amountR100,000

Minimum term (months)12 months

Maximum term (months)60 months

Personal loan interest rates (base)10.00%

Personal loan APR10.00%

Monthly repayments (approx)R754

Total repayments (approx)R27,144

Total interest repayments (approx)R7,144

Rate typeFixed or Variable

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR3,000

GO TO Absa

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityNo

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feen/a

Missed payment feeUnknown

For debt consolidation?No

Sponsored No

Telephone0860 100 372

Data accurate as of12.07.2020

GO TO Absa

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Get up to R250 000 over 1 – 84 months. Choose between the amount you want, the monthly installment that suits your pocket, or the option that gives you the lowest interest rate. Credit is approved in minutes and the money is available immediately. Pay fixed monthly repayments.

Overview

Minimum loan amountR10,000

Maximum loan amountR25,000

Minimum term (months)1 month

Maximum term (months)84 months

Personal loan interest rates (base)12.90%

Personal loan APR12.90%

Monthly repayments (approx)R783

Total repayments (approx)R28,188

Total interest repayments (approx)R8,188

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR3,000

GO TO Capitec Bank

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0860 66 77 89

Data accurate as of12.07.2020

GO TO Capitec Bank

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Simplify your debt with one consolidation loan. Combine up to 5 loans into one single consolidation of up to R250 000 and get one lower repayment.

Overview

Minimum loan amountR10,000

Maximum loan amountR250,000

Minimum term (months)12 months

Maximum term (months)72 months

Personal loan interest rates (base)15.00%

Personal loan APR15.00%

Monthly repayments (approx)R805

Total repayments (approx)R28,980

Total interest repayments (approx)R8,980

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR2,000

GO TO African Bank

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityNo

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0861 111 011

Data accurate as of18.01.2020

GO TO African Bank

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Loans up to R250,000. Terms between 7 months and 72 months.

Overview

Minimum loan amountR10,000

Maximum loan amountR250,000

Minimum term (months)7 months

Maximum term (months)72 months

Personal loan interest rates (base)15.00%

Personal loan APR15.00%

Monthly repayments (approx)R805

Total repayments (approx)R28,980

Total interest repayments (approx)R8,980

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR2,000

GO TO African Bank

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityNo

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?No

Sponsored No

Telephone0861 111 011

Data accurate as of18.01.2020

GO TO African Bank

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A personal loan from R1000 up to R250 000. Fast, paperless application process. Decision in seconds. Cash in your account within 24 hours. Flexible repayment options; choose from 12 to 60 months. Fixed monthly repayments. Free monthly statement via email or SMS. Optional Customer Protection Insurance. Interest from as low as 15%

Overview

Minimum loan amountR1,000

Maximum loan amountR250,000

Minimum term (months)12 months

Maximum term (months)60 months

Personal loan interest rates (base)15.00%

Personal loan APR15.00%

Monthly repayments (approx)R805

Total repayments (approx)R28,980

Total interest repayments (approx)R8,980

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR5,000

GO TO DirectAxis

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?No

Sponsored No

Telephone0861 02 03 04

Data accurate as of18.01.2020

GO TO DirectAxis

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Tired of those expensive repayments? Then switch your personal loans to Absa. It’s easy and with our guaranteed lowest interest rate, you will start saving money immediately. We can switch your personal loans of up to R350 000 and pay your creditors directly.

Overview

Minimum loan amountR15,000

Maximum loan amountR350,000

Minimum term (months)12 months

Maximum term (months)84 months

Personal loan interest rates (base)18.82%

Personal loan APR18.82%

Monthly repayments (approx)R845

Total repayments (approx)R30,420

Total interest repayments (approx)R10,420

Rate typeFixed or Variable

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR2,000

GO TO Absa

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityNo

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feen/a

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0860 100 372

Data accurate as of12.06.2020

GO TO Absa

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Flexible loans, on your terms. Get a Personal Loan of up to R250 000. Same day approval!

Overview

Minimum loan amountR15,000

Maximum loan amountR29,000

Minimum term (months)12 months

Maximum term (months)36 months

Personal loan interest rates (base)21.00%

Personal loan APR21.00%

Monthly repayments (approx)R859

Total repayments (approx)R30,924

Total interest repayments (approx)R10,924

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR936.50

Minimum monthly incomeR2,000

GO TO Izwe Loans

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityNo

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0861 666 424

Data accurate as of18.01.2020

GO TO Izwe Loans

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No matter what your plans are, we’ve got a personal loan that suits your needs. We offer the widest range of personal loans of up to R350 000 with a loan repayment term of up to 84 months. If you take out an Absa Personal Loan and you’re offered a lower interest rate elsewhere, we guarantee to beat it.

Overview

Minimum loan amountR3,000

Maximum loan amountR350,000

Minimum term (months)12 months

Maximum term (months)84 months

Personal loan interest rates (base)21.00%

Personal loan APR21.00%

Monthly repayments (approx)R869

Total repayments (approx)R31,284

Total interest repayments (approx)R11,284

Rate typeFixed or Variable

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR2,000

GO TO Absa

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityNo

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feen/a

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0860 100 372

Data accurate as of12.06.2020

GO TO Absa

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Make your dream real. Apply for a personal loan in less than 10 minutes. Options to Consolidate your loans. Create one loan with one monthly repayment. Flexible repayment options. Specify your repayment period and amount according to your needs. Fast pay outs. A lump sum deposited into your account.

Overview

Minimum loan amountR10,000

Maximum loan amountR29,999

Minimum term (months)12 months

Maximum term (months)60 months

Personal loan interest rates (base)23.00%

Personal loan APR23.00%

Monthly repayments (approx)R891

Total repayments (approx)R32,076

Total interest repayments (approx)R12,076

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR15,000

GO TO Old Mutual

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0860 50 60 70

Data accurate as of18.01.2020

GO TO Old Mutual

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Get access to your funds again when you’ve repaid 15% of your loan with the option to increase your original amount over time. Your revolving loan is paid straight into your account. Apply for a loan online or on our banking app and get real-time approval. If you have enough Rewards Points, you can pay your monthly installment with UCount Rewards. The option to increase your loan amount at a later stage.

Overview

Minimum loan amountR10,000

Maximum loan amountR300,000

Minimum term (months)1 month

Maximum term (months)60 months

Personal loan interest rates (base)10.25%

Personal loan APR10.25%

Monthly repayments (approx)R757

Total repayments (approx)R27,252

Total interest repayments (approx)R7,252

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR8,000

GO TO Standard Bank of South Africa

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?No

Sponsored No

Telephone0860 123 000

Data accurate as of18.01.2020

GO TO Standard Bank of South Africa

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Get a Personal Loan of up to R300 000 for planned or unplanned expenses. Whether you need extra money to help turn your house into your dream home, walk down the aisle or go on that well-deserved holiday, FNB has the right credit solution for your every need.

Overview

Minimum loan amountR1,000

Maximum loan amountR300,000

Minimum term (months)1 month

Maximum term (months)60 months

Personal loan interest rates (base)13.00%

Personal loan APR13.00%

Monthly repayments (approx)R784

Total repayments (approx)R28,224

Total interest repayments (approx)R8,224

Rate typeFixed or Variable

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR6,000

GO TO First National Bank

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityNo

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0861 113 010

Data accurate as of18.01.2020

GO TO First National Bank

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A cash loan from R2 000 up to R250 000. Fast, paperless application process. Decision in seconds. Cash in your account within 24 hours. Flexible repayment options; choose from 12 to 60 months. Free monthly statement via email or SMS. Customer Protection Insurance. Interest from as low as 15%.

Overview

Minimum loan amountR2,000

Maximum loan amountR250,000

Minimum term (months)12 months

Maximum term (months)60 months

Personal loan interest rates (base)15.00%

Personal loan APR15.00%

Monthly repayments (approx)R796

Total repayments (approx)R28,656

Total interest repayments (approx)R8,656

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR936.50

Minimum monthly incomeR2,000

GO TO RCS

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0861 729 727

Data accurate as of18.01.2020

GO TO RCS

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It is easy to apply for a Bayport personal loan of up to R250,000 with our simple online loan application process and personalised service. Once you have registered, all it takes is a minute, to find out if you qualify for a Bayport personal loan.

Overview

Minimum loan amountR20,000

Maximum loan amountR250,000

Minimum term (months)6 months

Maximum term (months)72 months

Personal loan interest rates (base)15.00%

Personal loan APR15.00%

Monthly repayments (approx)R805

Total repayments (approx)R28,980

Total interest repayments (approx)R8,980

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR3,000

GO TO BayPort

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone087 287 4001

Data accurate as of18.01.2020

GO TO BayPort

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Instead of having many accounts to pay each month, you’ll only have a single monthly payment. You could improve your monthly cash flow. We’ll do the legwork, your loan will be used to settle your retail or credit accounts, or existing loans. Any money remaining you can use as you please. Repayments are fixed

Overview

Minimum loan amountR5,000

Maximum loan amountR250,000

Minimum term (months)12 months

Maximum term (months)60 months

Personal loan interest rates (base)15.00%

Personal loan APR15.00%

Monthly repayments (approx)R805

Total repayments (approx)R28,980

Total interest repayments (approx)R8,980

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR5,000

GO TO DirectAxis

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0861 02 03 04

Data accurate as of18.01.2020

GO TO DirectAxis

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A Student Loan from FNB gives students and parents a sense of comfort knowing that funds are available for further studies. Personalised interest rate. Access to loans from R4000 to R80 000 for each year of study. Only pay interest, fees and charges while the student is studying and start repaying interest, fees, charges and capital on completion of their studies. Credit life insurance. You could boost your ebucks reward level.

Overview

Minimum loan amountR4,000

Maximum loan amountR80,000

Minimum term (months)12 months

Maximum term (months)36 months

Personal loan interest rates (base)17.00%

Personal loan APR17.00%

Monthly repayments (approx)R826

Total repayments (approx)R29,736

Total interest repayments (approx)R9,736

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR6,000

GO TO First National Bank

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityNo

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?No

Sponsored No

Telephone0861 113 010

Data accurate as of18.01.2020

GO TO First National Bank

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Get the loan you’re looking for at the fixed monthly repayment amount and term you feel comfortable with. Your annual percentage rate for a personal loan will not exceed prime + 17.5%. Apply for a loan online or on our banking app to find out how much you qualify for. Choose to repay your loan over 12 to 72 months. Pay your monthly instalment with your Ucount Rewards points.

Overview

Minimum loan amountR3,000

Maximum loan amountR300,000

Minimum term (months)12 months

Maximum term (months)72 months

Personal loan interest rates (base)17.50%

Personal loan APR17.50%

Monthly repayments (approx)R831

Total repayments (approx)R29,916

Total interest repayments (approx)R9,916

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR8,000

GO TO Standard Bank of South Africa

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0860 123 000

Data accurate as of18.01.2020

GO TO Standard Bank of South Africa

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We'll help you get it, fast. Quick Online Loans from R100 to R250,000. 100% Free to apply. Instant Online Loans - Cash paid into your bank account today. Low repayments, over 2 to 60 monthsHigh approval rate. Use for any purpose. Bad credit history-no problem.

Overview

Minimum loan amountR8,000

Maximum loan amountR20,000

Minimum term (months)2 months

Maximum term (months)60 months

Personal loan interest rates (base)19.50%

Personal loan APR19.50%

Monthly repayments (approx)R853

Total repayments (approx)R30,708

Total interest repayments (approx)R10,708

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR5,000

GO TO Hoopla Loans

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityNo

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone087 724 6110

Data accurate as of18.01.2020

GO TO Hoopla Loans

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We'll help you get it, fast. Quick Online Loans from R100 to R250,000. 100% Free to apply. Instant Online Loans - Cash paid into your bank account today. Low repayments, over 2 to 60 monthsHigh approval rate. Use for any purpose. Bad credit history-no problem.

Overview

Minimum loan amountR20,000

Maximum loan amountR250,000

Minimum term (months)2 months

Maximum term (months)60 months

Personal loan interest rates (base)20.00%

Personal loan APR20.00%

Monthly repayments (approx)R858

Total repayments (approx)R30,888

Total interest repayments (approx)R10,888

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR5,000

GO TO Hoopla Loans

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityNo

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone087 724 6110

Data accurate as of18.01.2020

GO TO Hoopla Loans

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Bigger dreams, bigger loan! Dream big with a ubank loan of up to R180 000 payable over 72 months.

Overview

Minimum loan amountR10,000

Maximum loan amountR180,000

Minimum term (months)12 months

Maximum term (months)72 months

Personal loan interest rates (base)21.00%

Personal loan APR21.00%

Monthly repayments (approx)R869

Total repayments (approx)R31,284

Total interest repayments (approx)R11,284

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR3,000

GO TO Ubank

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0860 008 322

Data accurate as of18.01.2020

GO TO Ubank

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Whether you need money for unexpected expenses, a medical emergency, or to fund a specific project, Sanlam can offer you a fixed-rate personal loan according to your needs and circumstances. You can apply for any amount, from R5,000 to R200,000. You can tailor your repayment term to suit your budget (from 24 months to 6 years). Repayments are fixed for your full loan term, so that you can budget ahead easily. Sanlam will always take your current financial circumstances into consideration and never lend you more than you can comfortably afford to repay

Overview

Minimum loan amountR5,000

Maximum loan amountR200,000

Minimum term (months)24 months

Maximum term (months)72 months

Personal loan interest rates (base)21.90%

Personal loan APR21.90%

Monthly repayments (approx)R879

Total repayments (approx)R31,644

Total interest repayments (approx)R11,644

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR5,000

GO TO Sanlam

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0861 440 044

Data accurate as of18.01.2020

GO TO Sanlam

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Goods from R2 000 up to R250 000 can be purchased at accredited stores. Flexible repayment terms from 6 up to 72 months to suit your pocket. No deposit required. Straightforward application process. A loan from a trusted bank for the goods you need.

Overview

Minimum loan amountR2,000

Maximum loan amountR350,000

Minimum term (months)6 months

Maximum term (months)72 months

Personal loan interest rates (base)24.75%

Personal loan APR24.75%

Monthly repayments (approx)R910

Total repayments (approx)R32,760

Total interest repayments (approx)R12,760

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR3,500

GO TO Nedbank

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?No

Sponsored No

Telephone0860 103 582

Data accurate as of12.07.2020

GO TO Nedbank

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Loans available from R2 000 to R300 000*. Flexible repayment periods from 6 up to 72 months. Monthly repayments debited from your bank account. The best possible interest rate that we can offer you. Easy online loan application process.

Overview

Minimum loan amountR2,000

Maximum loan amountR350,000

Minimum term (months)6 months

Maximum term (months)72 months

Personal loan interest rates (base)24.75%

Personal loan APR24.75%

Monthly repayments (approx)R910

Total repayments (approx)R32,760

Total interest repayments (approx)R12,760

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR3,500

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Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0860 103 582

Data accurate as of12.07.2020

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Apply for a personal loan from R5000 up to R200 000 and get an instant answer! Apply for your loan over a term of anywhere between 2 and 6 years. A guaranteed fixed interest rate means your monthly repayment will never change. Cover your vehicle finance or personal loan debt, in the event of unforeseen circumstances such as dread disease, death, disability or retrenchment.

Overview

Minimum loan amountR5,000

Maximum loan amountR200,000

Minimum term (months)24 months

Maximum term (months)72 months

Personal loan interest rates (base)25.00%

Personal loan APR25.00%

Monthly repayments (approx)R913

Total repayments (approx)R32,868

Total interest repayments (approx)R12,868

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR3,000

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Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0861 238 252

Data accurate as of18.01.2020

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CompareLoans.co.za provides factual information in relation to financial products. While CompareLoans.co.za 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 CompareLoans.co.za 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 CompareLoans.co.za. CompareLoans.co.za recommends that you read the relevant product disclosure statement or product guide before taking up any financial product offer. For more information please see CompareLoans.co.za's Terms of Use and Services Guide.

Minimum and maximum loan periods vary between 1 months and 10 years. Comparison interest rates vary between 6.55% and 60% p.a. Total interest repayments vary between R685.05 and R844.12 over the life of the loan. *Comparison rate is based on an unsecured loan of R20,000 for a term of 3 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. These rates can change without further notice. All rates quoted are per annum. For more information regarding fees click on "View fees & additional info +" for each product or contact the provider.

What type of loan are you looking for?

Find the best personal loans for casual workers in South Africa

Money lending can be a tricky business. To protect themselves, most banks and financial institutions have a list of requirements you have to meet before you can get the extra cash you need.

In most cases, permanent employment is often included in these requirements. If you’re a casual worker who is feeling a little left out, CompareLoans takes a look at the options available for your different employment situation.

What is a casual worker?

The current legislation of South Africa has no definition of a casual worker. However, the term might still be used to refer to a person who works more than 24 hours a month. In a sense, casual workers are part-time workers or individuals who are hired to work for only short periods.

Even so, individuals who work less than 24 hours per month can also be called casual workers. This only goes to show how broad the definition of a casual worker can be. Examples of casual worker jobs include the following:

  • Domestic worker/Cleaner;
  • Delivery driver;
  • Part-time tutor; and
  • Writer.

Personal loans for casual workers: How do they work?

Once you qualify, loans for casual workers usually function the same way as traditional loans offered to permanently employed individuals. There are two main options available:

  • Personal loans. The loan amount is limited between R2000 and R250 000, although it can be as high as R300 000 if you have good credit and a high-income level. The repayment period typically ranges from 1 year to 5 years or 7 years. In addition, both unsecured personal loans and secured personal loans are available.
  • Short term loans. This high-interest-rate option is more suitable for bad credit borrowers. You get smaller loan amounts (up to R8000) that have to be paid over 1 month to 12 months.

4 ways to improve your chances of loan approval if you’re a casual employee

  • Compare loans. If you’re a casual worker, you might have a hard time getting your application approved. It’s important to compare the available loan options so you can find a lender with a more flexible approach. You will still have to work harder to convince the lender of your ability to pay back the loan, but it helps if you have a stable financial history and a good credit score.
  • Find a co-signer. Do you have a trusted someone who has an excellent credit score and who is willing to cover your payments if you start struggling? Then add them as a co-signer to lower the risk for the lender.
  • Secure the loan. A secured loan reduces the risk for the lender, but it also puts you at risk of losing your assets, whether it’s a house or car.
  • Negotiate with the lender. If the lender reviews applications on a case by case basis, you might be able to negotiate a loan contract that is tailored to your situation. Also, get in touch with the lender to check if you meet all the requirements in case you’re not sure.
  • Calculate your monthly payments beforehand. Use our monthly payment calculator for casual worker personal loans to choose an affordable loan. Start by using the sliding tools to choose your loan amount and loan term. After you click calculate, check to see if the results fit into your monthly budget with other expenses. When you choose an affordable repayment, you increase your chances of passing the affordability assessment carried out by most lenders.

What to do if your casual worker loan application gets rejected?

  • Wait until you have a longer employment term. If you’re a casual worker who has been working for a long time, you’re likely to be considered since your financial history is more stable.
  • Work on improving your credit score. Before you apply again, improve your credit score by making any current payments on time and getting rid of your other debts to achieve a low debt-to-income ratio. This frees up your cash flow so you can afford a new loan. Also, avoid too many loan applications as they show up in your credit history and lower your score.
  • Save for an emergency fund. Slowly work on building your emergency fund, so you have something to rely on when you need extra cash. You can also use your savings or emergency fund to pay for a deposit if you wish to apply for a car loan.

FAQs for casual worker personal loans

Do I qualify for a casual worker personal loan?

You may be able to get approved for a loan if you’re a part-time employee who meets the following general requirements:

  • Be a South African citizen;
  • Be 18 years or above;
  • A regular, monthly income;
  • Proof of income documents – bank statements and payslips.

How can I apply for a loan as a casual worker?

You can easily make an online application with CompareLoans. After you find the best option from the lenders showcased in our comparison tables, simply click the right “Go to Site” button.

What are the interest rates for casual worker personal loans?

The rates depend on various factors which include the lender, your credit score, and income level. Some lenders offer low and competitive interest rates if you have a sufficiently high credit score.

What can you use the personal loan for?

Personal loans are general purpose and can be used to pay for home improvements, auto repairs, legal fees, and other personal needs.

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