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Good Credit Personal Loans

If you have maintained good credit, many South African lenders have good credit personal loans that can help you with your next big financial move. To compare loan options among these lenders, our loan calculator will help you to get a god idea of what your monthly repayment will be.

Simply input the loan amount and use the filter to change the loan term until it reaches an amount that will fit your budget.

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 good credit in South Africa

What is the lowest interest rate you can get in South Africa if you have a good credit score? If you want to know your loan options and how to compare personal loans for good credit, this guide will help answer these questions for you.

What is a good credit personal loan?

Credit bureaus in South Africa use slightly different credit scoring models. Equifax and Experian both consider a good credit score to be 670 to 739, while TransUnion places it between 681- 766.

What the lender sees when they see a credit score in this range is a responsible borrower who typically has the following:

  • History of paying bills on time. On-time payments are one of the top ways to get a good credit score.
  • Good credit mix. Having different types of loan accounts under your name, such as credit cards, car loans, or personal loans helps to build your credit score.
  • Fewer loan applications. Too many loan applications and hard credit checks can make it seem like you have money problems.

Therefore, a good credit personal loan is one which represents a lower risk to lenders. As a result, personal loans for good credit have much lower rates and better terms than bad credit loans and average credit loans.

Type of personal loans for good credit

Personal loans for good credit can have some of the following features depending on your preference:

  • Unsecured personal loans. No collateral required, but your credit score can still help you get a comparatively low rate.
  • Secured personal loans. You can get even lower rates if you put up collateral, but you might lose the asset if you default.
  • Variable-rate personal loans. This option offers a lower starting rate but carries some uncertainty, especially if you choose a longer loan term.
  • Fixed-rate personal loans. It’s easy to budget for your monthly repayments with this option, but you’ll be unable to save on interest if market conditions become more favourable.
  • Joint application. This helps to improve your chances of loan approval and of getting a much lower interest rate.

7 questions to ask when comparing good credit loans

  • What is the interest rate? – Compare the base interest rate for at least 3 lenders to find out the lowest. From there, it’s easy to negotiate for a much lower personalised interest rate depending on your exact credit score and other factors.
  • What is the total cost of the loan? – This requires you to look not only at the interest rate but the loan fees and charges as well. Fees to watch out for include initiation or origination fees, penalty fees, and ongoing monthly services fees.
  • Can I afford my monthly payments? – Our monthly repayment loan calculator for good credit personal loans helps you to choose an affordable option. Make use of the sliders and enter your loan amount and term. Next, click “Calculate Repayment.” Keep in mind that, while a long loan term offers smaller monthly instalments, it increases your interest payments overall.
  • Does the loan have any restrictions? – Restrictions apply to how you can use the loan, how much you can borrow, the length of the loan, and repayments terms. Look at these factors and choose a lender who offers the most flexibility.
  • What are the other requirements? – Besides a good credit score, your chances of loan approval also depend on meeting other general requirements such as a low debt-to-income ratio, having South African citizenship, and being 18 years or older.
  • Does the loan have any benefits? – You’ll certainly benefit from a competitive interest rate, but other lenders offer even better deals. Can you apply for the personal loan online? Also look for discounts on rates, excellent customer service, and quick turnaround time.
  • Is my credit score good enough? – Find a lender who offers a prequalification option. They will carry out a soft credit check that won’t affect your credit score. The quote you receive lets you know if your credit score is good enough for the rates and terms you want.

How can I turn my good credit into excellent credit?

If you have a good credit score, you’re a step up from a very good or excellent credit loan which comes with even more favourable options. Here’s what you can do to continuously improve your odds:

  • Check your credit report. Ensure your credit report contains updated and error-free information.
  • Keep paying off your debts on time. This will keep your credit history clean.
  • Reduce your outstanding balance. A low balance leaves you with more available credit and a good credit utilisation ratio – all good news for your credit score.

Apply for a personal loan for good credit today

CompareLoans helps you find and compare popular South African lenders all in one place. With our comparison tables above, all you have to do is click the “Go to Site” button after you have made your final decision. Once you’re directed to the lender’s website, fill out the online application form and upload any required documents.

Frequently asked questions about personal loans for good credit

Where can I get a good credit personal loan?

In South Africa, these are available through financial institutions like banks, credit unions, online lenders or via peer to peer lending.

What other types of good credit loans can I apply for?

You can apply for a debt consolidation loan, car or auto loan, business loan, equipment loan, student loan, jet ski loan, plus other types of loans.

How much can I borrow if I qualify for a good credit personal loan and for how long?

Maximum and minimum loan amounts for personal loans are typically between R2000 and R300 000, respectively. For loan terms, the lower and upper limits lie between 12 months and 72 months (5 years), respectively.

Popular personal loans searches

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