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?
Personal loans in Durban – South Africa
Shop for your personal loan in Durban in one place
At CompareLoans, we have a range of South African lenders featured in our comparison tables above. You can also view our list of popular, registered credit providers – click on your choice and find more details we have added to make your search easier and faster.
How do personal loans work in Durban?
Typically, you can apply for a loan amount between R8001 and R300 000 taken over 12 months to 84 months. The following types of loans are also available:
- Unsecured. No collateral required.
- Secured. Collateral in the form of a house, car, or other asset is required. The asset can be seized if you fail to repay your personal loan.
- Variable-rate. The interest rate is likely to fluctuate as you pay your loan.
- Fixed-rate. The interest rate remains unchanged as long as you’re still paying off your loan.
How does a personal loan help you?
Personal loan uses include:
Comparing personal loans in Durban
Use this 3-point checklist to find the best available loan offer to suit your budget and needs:
- Interest. Keep in mind, the exact rate you get is based on whether you have bad credit, average credit, good credit, or excellent credit. However, finding a lender with a low base interest rate ensures you get the most competitive deal for your credit score.
- Monthly loan repayments. Our personal loan calculator shows your estimated monthly instalments. Adjust the sliders to choose a loan amount and loan term, then click calculate. Compare the results for each lender and pick the option with the best repayment terms.
- Fees. To reduce the total cost of borrowing, look for a loan with low fees. Most personal loans include an initiation fee, monthly service fee, and early or late payments charges. Choosing a short term also helps to keep costs down.
Can you find blacklisted personal loans in Durban?
You can find blacklisted personal loans in Durban, which is good news if you have a bad credit score. Consider a joint-applicant loan or a secured loan to increase your chances of approval and to avoid paying a lot of interest. Alternatively, you can apply for a no-credit-check, payday loan in Durban.
What you need to apply
General requirements state that you must be 18 years or older with a regular, monthly income. You must also provide the following documents:
- Copies of your government-issued, South African ID;
- Proof of income – bank statements and payslips; and
- Proof of residence.
How to apply for a personal loan online in Durban
- Browse our comparison tables and compare loans.
- Visit your chosen lender’s website by clicking their “Go to Site” button.
- Provide the required details in the online application form and upload documents.
Popular personal loans searches
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