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 Johannesburg – South Africa
Where can you find personal loans in Johannesburg?
You can easily find personal and online loans through CompareLoans, and more specifically, our comparison tables above. We also have detailed information on various top South African lenders. All these options are showcased in one place, which makes your search faster and easier.
Personal loan for Johannesburg locals – How do they work?
- How much can you borrow? – Borrowing limits are from R2000 to R300 000.
- How long do you keep the loan? – Loan terms typically start from 12 months up to 72 months.
- What is the interest rate? – This depends on your credit score. Having good or excellent credit means you can apply for loans with competitive rates.
- What are your monthly repayments? – You can find out by using our personal loan calculator. Use the sliders to enter your loan amount and term, then click calculate.
- What are the fees? – Most lenders charge initiation fees and ongoing monthly service fees. Click the “View fees and additional info” link in the comparison tables above to find out the exact amounts charged by a particular lender.
- When do you get the cash loan? – After approval, receiving the cash in your bank account takes anywhere from 24 hours to 1 week, depending on the lender.
- How do you use the money? – You can spend the money on an engagement ring, education, investment or to buy equipment, a jet ski or for any other preferred use.
Types of personal loans offered in Jo’burg
- Secured vs. unsecured. Secured personal loans are guaranteed by your asset (typically your car or home). That means the lender has a legal right to the asset if you fail to make repayments. Unsecured personal loans have no collateral requirements, but they might have higher interest rates.
- Fixed interest rate vs. Variable interest rate. Your interest rate will fluctuate if it’s variable. On the other hand, a fixed rate stays the same as you pay back the loan.
- Student loans. You can get a lump sum which specifically covers the cost of tertiary education.
What are the general requirements when you apply for a personal loan in Johannesburg?
- Be 18 years or older;
- South African citizenship or permanent residency;
- Proof of income (bank statements and payslips);
- Proof of residence; and
- A good credit score.
Can you find blacklisted personal loans in Johannesburg?
Yes. Loans for blacklisted people are available. You can also apply for payday loans in Johannesburg if you’re blacklisted or have bad credit.
How to apply online for a personal loan in Johannesburg
- Compare loans showcased in our comparison tables above.
- Click the “Go to Site” button for your favoured lender.
- Fill out the personal loan application form on the lender’s website and submit the required documents.
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