Important disclosure

Joint Application Personal Loans

Joint application loans can help you get more financing on a personal loan. But before you go about applying for this loan, it is best to have an idea of how the monthly payment will affect your budget.

To compare the loan options among South African lenders, simply input the loan amount and term in order to get an idea of what your monthly payment will be like. Go ahead and try it.

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.

CompareLoans.co.za provides factual information in relation to financial products. While CompareLoans.co.za attempts to make a wide range of products and providers available, it may not cover all the options available to you. Moreover, we cannot be responsible for changes made to this information by product providers and/or inaccurate information obtained from a product provider. All product information comes from the product provider or publicly available information and to the best of our knowledge is correct at the time of publishing. The information published on CompareLoans.co.za is general in nature only and does not consider your personal objectives, financial situation or particular needs and is not recommending any particular product to you. If you decide to apply for a product you will be dealing directly with that provider and not with CompareLoans.co.za. CompareLoans.co.za recommends that you read the relevant product disclosure statement or product guide before taking up any financial product offer. For more information please see CompareLoans.co.za's Terms of Use and Services Guide.

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.

Holding hands

Find the best joint application loans in South Africa

In certain cases, making a personal loan joint application can strengthen your chances of approval when you borrow money. Here’s information about how joint application loans work plus the advantages and disadvantages.

How does a personal loan joint application work?

When applying for a personal loan, some lenders allow you to add a second person to your application (joint borrowing). Joint application personal loans have the following main features:

  • Joint application. The application must contain your combined personal and financial details.
  • Shared responsibility. Since two borrowers share the loan, you’ll both be responsible for making repayments.
  • Secured or unsecured. To further strengthen your application, you can apply for a secured personal loan. If you choose an unsecured personal loan, you might have to pay a higher interest rate.
  • Fixed-rate or variable rate. The loan can have a fixed rate or variable rate depending on the lender or your preferences.
  • Loan amount and term. Loan amounts for joint application personal loans are typically between R10 000 and R300 000 while loan terms are from 12 months to 84 months.

Are you choosing a co-signer or a co-applicant?

Joint application loans are slightly different from co-signed loans. Both types can improve your chances of loan approval, but after the money is in your bank account, you can only share it with a co-applicant. A co-signer is simply there to take responsibility for your repayments if you fail to do so. This assurance from the co-signer is what helps to convince the lender when they consider your application.

Why choose a joint application loan?

Joint borrowing can have advantages in the following situations:

  • Bad or average credit. If the second borrower has excellent credit, it helps you secure a lower interest rate and better terms and conditions.
  • Borrowing large amounts. You can borrow more if your personal loan application is backed by two incomes.
  • Low chances of qualifying. This might be because you don’t meet financing requirements such as having a regular, monthly income.
  • Building credit. Including a co-applicant with a higher credit score boosts your chances of qualifying for a loan. This also allows you to build up your credit and trust points if you’re new to borrowing.

What are the disadvantages of a joint application loan?

  • One borrower might end up responsible for all repayments. When your co-applicant is unable to make payments, it’s your full responsibility to cover the payments and vice versa. If you fail to cover the repayments, your credit score and your relationship with your co-borrower may suffer.
  • The application process can take longer. The lender will need more time to consider your application since they have to assess your combined information.
  • No guarantees of approval. You might still not be able to meet the lender’s requirements after you apply for a loan with a co-applicant.

4 questions to ask before joint borrowing

  • Does my co-applicant meet the minimum requirements? – General requirements for a personal loan include a regular, monthly income, a clean credit history, a minimum age of 18 years and South African citizenship or permanent residence. Checking these requirements stops you from wasting time if you both don’t qualify.
  • Is it someone I can trust? – Your co-applicant should be someone close – perhaps a family member, close friend, or partner – you can trust. Otherwise, there’s a high chance you’ll be left to repay the loan alone after sharing the lump sum.
  • Can we afford the monthly repayments? – To find a budget-friendly monthly payment, we recommend using our joint application loan calculator. Input your desired loan amount and term by adjusting the sliding tools. Click “Calculate Repayment” and check for the results in our comparison tables above.
  • What is the total cost of the loan? – Compare loans and find the cheapest offer available. That means a low interest rate and APR as well as minimum fees and charges. Standard charges include a once-off initiation fee and monthly service fees. However, you might want to avoid a loan with early payment penalty fees.

Applying for a joint personal loan application

You can make a quick and easy online application through CompareLoans. To start the process:

  • Compare loans. Check out our comparison tables for a list of reputable South African lenders. For more product information, click “View fees and additional info.” Also, make sure the lender accepts co-applicants on their personal loan application.
  • Click “Go to Site.” This link takes you to your chosen lender’s website where both of you can provide your personal and financial details.
  • Submit the application. Before you submit your joint personal loan application, you also need to upload documents such as valid copies of your ID, payslips, bank statements, and proof of residence.
  • Sign the loan contract. After the lender reviews your application and you’re successful, you’ll get an offer which you accept by signing the loan agreement.
  • Get money in your account. Money paid out to your bank account can pay for debt consolidation, a wedding, or a deposit for a home loan.

Popular personal loans searches

View all lenders