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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

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.
MoneyShop find the best loan suited to your profile with SA’s top loan providers. They have partnered with SA’s top personal loan providers to make your online application process quick and easy! Have a regular income of more than R4,000, bank statements and your SA ID? Apply online today.
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.
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.

RCS General Purpose Loan

RCS
12 months
to 60 months
R2,000
to R250,000
15.00%
APR
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%. Apply via MoneyShop, they will help to ensure you're matched the best lender suited to you.
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. Apply via MoneyShop, they will help to ensure you're matched the best lender suited to you.

African Bank Personal Loan

African Bank
7 months
to 72 months
R10,000
to R250,000
15.00%
APR
Loans up to R250,000. Terms between 7 months and 72 months. Apply via MoneyShop, they will help to ensure you're matched the best lender suited to you.

BayPort Personal Loans

BayPort
6 months
to 72 months
R20,000
to R250,000
15.00%
APR
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. Apply via MoneyShop, they will help to ensure you're matched the best lender suited to you.

Direct Axis Consolidation Loan

DirectAxis
12 months
to 60 months
R5,000
to R250,000
15.00%
APR
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 Apply via MoneyShop, they will help to ensure you're matched the best lender suited to you.

Direct Axis Personal Loan

DirectAxis
12 months
to 60 months
R1,000
to R250,000
15.00%
APR
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%. Apply via MoneyShop, they will help to ensure you're matched the best lender suited to you.
MoneyShop find the best loan suited to your profile with SA’s top loan providers. They have partnered with SA’s top personal loan providers to make your online application process quick and easy! Have a regular income of more than R4,000, bank statements and your SA ID? Apply online today.

Personal Loan - Average Credit

MoneyShop
12 months
to 72 months
R10,000
to R250,000
24.75%
APR
MoneyShop find the best loan suited to your profile with SA’s top loan providers. They have partnered with SA’s top personal loan providers to make your online application process quick and easy! Have a regular income of more than R4,000, bank statements and your SA ID? Apply online today.
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. Apply via MoneyShop, they will help to ensure you're matched the best lender suited to you.

Nedbank Personal Loans

Nedbank
6 months
to 72 months
R2,000
to R350,000
24.75%
APR
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. Apply via MoneyShop, they will help to ensure you're matched the best lender suited to you.

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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.

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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