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Excellent Credit Score Personal Loans

Have an excellent credit score? Then you deserve a loan that rewards you with a lower interest rate. Compare South African lenders that can reward with a better rate.

Use the calculator below to figure out your estimated monthly repayments and apply online with your preferred lender.

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.

Best personal loans for excellent credit in South Africa

Having excellent credit means you’re the type of borrower most lenders want. You might have to meet other requirements first, but it’s easier to get the best deals and offers. Check out this guide for excellent credit personal loans and find out how you can capitalise on your creditworthiness.

What does having excellent credit mean?

According to the 3 most popular credit bureaus in South Africa (TransUnion, Experian, and Equifax), an excellent credit score is somewhere between 767 and 991 or 800 and 850. If you have earned a place in these higher rankings, you can easily qualify for a personal loan for excellent credit.

The personal loan can be secured or unsecured. It can also have a variable rate or a fixed rate. Loan terms often range from 12 months to a maximum of 84 months. In addition, the loan works as a debt consolidation loan, education loan, home improvement loan, or for any other suitable uses you have in mind.

Are there any advantages to having an excellent credit score?

To build and maintain an excellent credit score, you must be a responsible borrower. For the most part, that means having the ability to pay bills on time. Your excellent credit score, therefore tells lenders that you are much less of a risk. In turn, you get to enjoy benefits that include:

  • A lower interest rate;
  • Easy loan application approval;
  • Flexible repayment terms; and
  • Ability to borrow more.

What you need to apply for an excellent credit personal loan

Standard eligibility requirements for personal loans in South Africa are as follows:

  • Valid government-issued South African ID;
  • Documents for proof of income – bank statements and payslips;
  • Minimum age of 18 years; and
  • Proof of residence.

Excellent credit personal loan calculator

Our monthly repayment calculator for excellent credit loans helps you to choose a payment plan that is in line with your monthly budget and regular cash flow. You might want a longer term which gives you lower instalments. Or you might prefer a shorter term which has larger payments but also the most savings on interest

Either way, enter your preferred loan amount and loan term, then click the “Calculate Repayment” button. Use the results to compare various repayment options from our featured lenders in the comparison tables above.

How to compare personal loans for excellent credit

Excellent credit can help you get the best deal. However, you have to make a few comparisons first before deciding which loan is best for your situation. Here’s what you need to consider:

  • Interest rate and fees. While excellent credit loans often have the lowest rates compared to loans for bad credit or average credit, also make sure you have a good idea of what the loan will cost you overall. That means looking at all the fees and charges attached to the loan. For example, some loans come with initiation or origination fees, monthly service fees, and prepayment penalties.
  • Maximum and minimum limits. This goes for the loan amount and loan terms you want. Can the lender offer you a customised personal loan, complete with your chosen repayments?
  • Prequalification. Check to see if you can first get a quote showing the interest rate, loan amount and terms you qualify for. This quote will also show the loan fees and charges, and you can accept it or decline depending on what you see. However, make sure the lender only checks for prequalification based on a soft credit check since a hard credit check can lower your score.
  • Other unique benefits. Some lenders offer better customer service, discounted rates, automatic repayments, and have better reviews. Another feature that can benefit you is being able to make an online application so that you receive the funds as soon as possible.

How to apply for a personal loan with excellent credit

You can make a fast online application for an excellent credit personal loan through CompareLoans by following these easy steps:

  • Calculate your monthly payments. Use our loan calculator as explained. This helps you to figure out how much you can afford and for how long.
  • Compare excellent credit loans. Our comparison tables above have several lenders for you to review. For extra product information, click “View fees and additional info.”
  • Click the “Go to Site” button. This link directs you to your chosen lender’s website.
  • Apply for the loan. Fill out the online application form and upload any requested documents. After you submit the lender will contact you, typically within 24 hours if it’s a business day.

Frequently asked questions about excellent credit personal loan

What other types of loans can I get with an excellent credit score?

You can also apply for an excellent credit car loan or an excellent credit home loan.

Does applying for an excellent credit loan affect my credit score?

If the lender does a hard credit check on you after applying, this can lower your credit score temporarily. That’s why it’s a good idea to avoid many loan applications in a small space of time.

I have an excellent credit score. Why was my loan application rejected?

Excellent credit doesn’t guarantee loan approval. A rejected loan application might be due to other factors such as failure to meet income requirements or having a debt-to-income ratio that’s too high.

Which financial institutions offer personal loans for excellent credit in South Africa?

The list includes banks, credit unions, online lenders and alternatively peer to peer lending platforms.

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