Important disclosure

Unsecured personal loans

Unsecured loans offer an option to take care of personal expenses that may take us unexpectedly. South African lenders offer a variety of loan options that could help you to meet these expenses.

Our simple and easy to use loan calculator can help you to decide which lender offers the best option for your pocket. Go ahead and input the loan amount you wish to borrow then use the toggle to see which loan terms fits your budget better.

Calculate repayments

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%.

Overview

Minimum loan amountR2,000

Maximum loan amountR250,000

Minimum term (months)12 months

Maximum term (months)60 months

Personal loan interest rates (base)15.00%

Personal loan APR15.00%

Monthly repayments (approx)R796

Total repayments (approx)R28,656

Total interest repayments (approx)R8,656

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR936.50

Minimum monthly incomeR2,000

GO TO RCS

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0861 729 727

Data accurate as of18.01.2020

GO TO RCS

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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.

Overview

Minimum loan amountR50,000

Maximum loan amountR100,000

Minimum term (months)1 month

Maximum term (months)84 months

Personal loan interest rates (base)14.20%

Personal loan APR14.20%

Monthly repayments (approx)R797

Total repayments (approx)R28,692

Total interest repayments (approx)R8,692

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR3,000

GO TO Capitec Bank

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0860 66 77 89

Data accurate as of12.07.2020

GO TO Capitec Bank

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Loans up to R250,000. Terms between 7 months and 72 months.

Overview

Minimum loan amountR10,000

Maximum loan amountR250,000

Minimum term (months)7 months

Maximum term (months)72 months

Personal loan interest rates (base)15.00%

Personal loan APR15.00%

Monthly repayments (approx)R805

Total repayments (approx)R28,980

Total interest repayments (approx)R8,980

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR2,000

GO TO African Bank

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityNo

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?No

Sponsored No

Telephone0861 111 011

Data accurate as of18.01.2020

GO TO African Bank

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Tired of those expensive repayments? Then switch your personal loans to Absa. It’s easy and with our guaranteed lowest interest rate, you will start saving money immediately. We can switch your personal loans of up to R350 000 and pay your creditors directly.

Overview

Minimum loan amountR15,000

Maximum loan amountR350,000

Minimum term (months)12 months

Maximum term (months)84 months

Personal loan interest rates (base)18.82%

Personal loan APR18.82%

Monthly repayments (approx)R845

Total repayments (approx)R30,420

Total interest repayments (approx)R10,420

Rate typeFixed or Variable

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR2,000

GO TO Absa

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityNo

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feen/a

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0860 100 372

Data accurate as of12.06.2020

GO TO Absa

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Absa Study Loan

Absa
12 months
to 60 months
R15,000
to R100,000
10.00%

View fees & additional info +

Our study loan offers you the opportunity to borrow funds at a low interest rate to support yourself or someone you would like to benefit from study funding. Finance your full tertiary experience from the tuition fees, accommodation, study book and technical equipment you need for your studies. If you take out our study loan and you’re offered a lower interest rate elsewhere, we’ll beat it. Terms and conditions apply. Pay interest only for the 12 months and only start repaying from month 13.

Overview

Minimum loan amountR15,000

Maximum loan amountR100,000

Minimum term (months)12 months

Maximum term (months)60 months

Personal loan interest rates (base)10.00%

Personal loan APR10.00%

Monthly repayments (approx)R754

Total repayments (approx)R27,144

Total interest repayments (approx)R7,144

Rate typeFixed or Variable

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR3,000

GO TO Absa

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityNo

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feen/a

Missed payment feeUnknown

For debt consolidation?No

Sponsored No

Telephone0860 100 372

Data accurate as of12.07.2020

GO TO Absa

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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.

Overview

Minimum loan amountR10,000

Maximum loan amountR25,000

Minimum term (months)1 month

Maximum term (months)84 months

Personal loan interest rates (base)12.90%

Personal loan APR12.90%

Monthly repayments (approx)R783

Total repayments (approx)R28,188

Total interest repayments (approx)R8,188

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR3,000

GO TO Capitec Bank

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0860 66 77 89

Data accurate as of12.07.2020

GO TO Capitec Bank

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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.

Overview

Minimum loan amountR10,000

Maximum loan amountR250,000

Minimum term (months)12 months

Maximum term (months)72 months

Personal loan interest rates (base)15.00%

Personal loan APR15.00%

Monthly repayments (approx)R805

Total repayments (approx)R28,980

Total interest repayments (approx)R8,980

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR2,000

GO TO African Bank

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityNo

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0861 111 011

Data accurate as of18.01.2020

GO TO African Bank

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Loans up to R250,000. Terms between 7 months and 72 months.

Overview

Minimum loan amountR10,000

Maximum loan amountR250,000

Minimum term (months)7 months

Maximum term (months)72 months

Personal loan interest rates (base)15.00%

Personal loan APR15.00%

Monthly repayments (approx)R805

Total repayments (approx)R28,980

Total interest repayments (approx)R8,980

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR2,000

GO TO African Bank

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityNo

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?No

Sponsored No

Telephone0861 111 011

Data accurate as of18.01.2020

GO TO African Bank

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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%

Overview

Minimum loan amountR1,000

Maximum loan amountR250,000

Minimum term (months)12 months

Maximum term (months)60 months

Personal loan interest rates (base)15.00%

Personal loan APR15.00%

Monthly repayments (approx)R805

Total repayments (approx)R28,980

Total interest repayments (approx)R8,980

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR5,000

GO TO DirectAxis

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?No

Sponsored No

Telephone0861 02 03 04

Data accurate as of18.01.2020

GO TO DirectAxis

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Tired of those expensive repayments? Then switch your personal loans to Absa. It’s easy and with our guaranteed lowest interest rate, you will start saving money immediately. We can switch your personal loans of up to R350 000 and pay your creditors directly.

Overview

Minimum loan amountR15,000

Maximum loan amountR350,000

Minimum term (months)12 months

Maximum term (months)84 months

Personal loan interest rates (base)18.82%

Personal loan APR18.82%

Monthly repayments (approx)R845

Total repayments (approx)R30,420

Total interest repayments (approx)R10,420

Rate typeFixed or Variable

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR2,000

GO TO Absa

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityNo

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feen/a

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0860 100 372

Data accurate as of12.06.2020

GO TO Absa

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Flexible loans, on your terms. Get a Personal Loan of up to R250 000. Same day approval!

Overview

Minimum loan amountR15,000

Maximum loan amountR29,000

Minimum term (months)12 months

Maximum term (months)36 months

Personal loan interest rates (base)21.00%

Personal loan APR21.00%

Monthly repayments (approx)R859

Total repayments (approx)R30,924

Total interest repayments (approx)R10,924

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR936.50

Minimum monthly incomeR2,000

GO TO Izwe Loans

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityNo

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0861 666 424

Data accurate as of18.01.2020

GO TO Izwe Loans

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No matter what your plans are, we’ve got a personal loan that suits your needs. We offer the widest range of personal loans of up to R350 000 with a loan repayment term of up to 84 months. If you take out an Absa Personal Loan and you’re offered a lower interest rate elsewhere, we guarantee to beat it.

Overview

Minimum loan amountR3,000

Maximum loan amountR350,000

Minimum term (months)12 months

Maximum term (months)84 months

Personal loan interest rates (base)21.00%

Personal loan APR21.00%

Monthly repayments (approx)R869

Total repayments (approx)R31,284

Total interest repayments (approx)R11,284

Rate typeFixed or Variable

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR2,000

GO TO Absa

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityNo

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feen/a

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0860 100 372

Data accurate as of12.06.2020

GO TO Absa

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Make your dream real. Apply for a personal loan in less than 10 minutes. Options to Consolidate your loans. Create one loan with one monthly repayment. Flexible repayment options. Specify your repayment period and amount according to your needs. Fast pay outs. A lump sum deposited into your account.

Overview

Minimum loan amountR10,000

Maximum loan amountR29,999

Minimum term (months)12 months

Maximum term (months)60 months

Personal loan interest rates (base)23.00%

Personal loan APR23.00%

Monthly repayments (approx)R891

Total repayments (approx)R32,076

Total interest repayments (approx)R12,076

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR15,000

GO TO Old Mutual

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0860 50 60 70

Data accurate as of18.01.2020

GO TO Old Mutual

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Get access to your funds again when you’ve repaid 15% of your loan with the option to increase your original amount over time. Your revolving loan is paid straight into your account. Apply for a loan online or on our banking app and get real-time approval. If you have enough Rewards Points, you can pay your monthly installment with UCount Rewards. The option to increase your loan amount at a later stage.

Overview

Minimum loan amountR10,000

Maximum loan amountR300,000

Minimum term (months)1 month

Maximum term (months)60 months

Personal loan interest rates (base)10.25%

Personal loan APR10.25%

Monthly repayments (approx)R757

Total repayments (approx)R27,252

Total interest repayments (approx)R7,252

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR8,000

GO TO Standard Bank of South Africa

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?No

Sponsored No

Telephone0860 123 000

Data accurate as of18.01.2020

GO TO Standard Bank of South Africa

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Get a Personal Loan of up to R300 000 for planned or unplanned expenses. Whether you need extra money to help turn your house into your dream home, walk down the aisle or go on that well-deserved holiday, FNB has the right credit solution for your every need.

Overview

Minimum loan amountR1,000

Maximum loan amountR300,000

Minimum term (months)1 month

Maximum term (months)60 months

Personal loan interest rates (base)13.00%

Personal loan APR13.00%

Monthly repayments (approx)R784

Total repayments (approx)R28,224

Total interest repayments (approx)R8,224

Rate typeFixed or Variable

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR6,000

GO TO First National Bank

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityNo

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0861 113 010

Data accurate as of18.01.2020

GO TO First National Bank

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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%.

Overview

Minimum loan amountR2,000

Maximum loan amountR250,000

Minimum term (months)12 months

Maximum term (months)60 months

Personal loan interest rates (base)15.00%

Personal loan APR15.00%

Monthly repayments (approx)R796

Total repayments (approx)R28,656

Total interest repayments (approx)R8,656

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR936.50

Minimum monthly incomeR2,000

GO TO RCS

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0861 729 727

Data accurate as of18.01.2020

GO TO RCS

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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.

Overview

Minimum loan amountR20,000

Maximum loan amountR250,000

Minimum term (months)6 months

Maximum term (months)72 months

Personal loan interest rates (base)15.00%

Personal loan APR15.00%

Monthly repayments (approx)R805

Total repayments (approx)R28,980

Total interest repayments (approx)R8,980

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR3,000

GO TO BayPort

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone087 287 4001

Data accurate as of18.01.2020

GO TO BayPort

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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

Overview

Minimum loan amountR5,000

Maximum loan amountR250,000

Minimum term (months)12 months

Maximum term (months)60 months

Personal loan interest rates (base)15.00%

Personal loan APR15.00%

Monthly repayments (approx)R805

Total repayments (approx)R28,980

Total interest repayments (approx)R8,980

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR5,000

GO TO DirectAxis

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0861 02 03 04

Data accurate as of18.01.2020

GO TO DirectAxis

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A Student Loan from FNB gives students and parents a sense of comfort knowing that funds are available for further studies. Personalised interest rate. Access to loans from R4000 to R80 000 for each year of study. Only pay interest, fees and charges while the student is studying and start repaying interest, fees, charges and capital on completion of their studies. Credit life insurance. You could boost your ebucks reward level.

Overview

Minimum loan amountR4,000

Maximum loan amountR80,000

Minimum term (months)12 months

Maximum term (months)36 months

Personal loan interest rates (base)17.00%

Personal loan APR17.00%

Monthly repayments (approx)R826

Total repayments (approx)R29,736

Total interest repayments (approx)R9,736

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR6,000

GO TO First National Bank

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityNo

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?No

Sponsored No

Telephone0861 113 010

Data accurate as of18.01.2020

GO TO First National Bank

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Get the loan you’re looking for at the fixed monthly repayment amount and term you feel comfortable with. Your annual percentage rate for a personal loan will not exceed prime + 17.5%. Apply for a loan online or on our banking app to find out how much you qualify for. Choose to repay your loan over 12 to 72 months. Pay your monthly instalment with your Ucount Rewards points.

Overview

Minimum loan amountR3,000

Maximum loan amountR300,000

Minimum term (months)12 months

Maximum term (months)72 months

Personal loan interest rates (base)17.50%

Personal loan APR17.50%

Monthly repayments (approx)R831

Total repayments (approx)R29,916

Total interest repayments (approx)R9,916

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR8,000

GO TO Standard Bank of South Africa

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0860 123 000

Data accurate as of18.01.2020

GO TO Standard Bank of South Africa

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We'll help you get it, fast. Quick Online Loans from R100 to R250,000. 100% Free to apply. Instant Online Loans - Cash paid into your bank account today. Low repayments, over 2 to 60 monthsHigh approval rate. Use for any purpose. Bad credit history-no problem.

Overview

Minimum loan amountR8,000

Maximum loan amountR20,000

Minimum term (months)2 months

Maximum term (months)60 months

Personal loan interest rates (base)19.50%

Personal loan APR19.50%

Monthly repayments (approx)R853

Total repayments (approx)R30,708

Total interest repayments (approx)R10,708

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR5,000

GO TO Hoopla Loans

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityNo

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone087 724 6110

Data accurate as of18.01.2020

GO TO Hoopla Loans

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We'll help you get it, fast. Quick Online Loans from R100 to R250,000. 100% Free to apply. Instant Online Loans - Cash paid into your bank account today. Low repayments, over 2 to 60 monthsHigh approval rate. Use for any purpose. Bad credit history-no problem.

Overview

Minimum loan amountR20,000

Maximum loan amountR250,000

Minimum term (months)2 months

Maximum term (months)60 months

Personal loan interest rates (base)20.00%

Personal loan APR20.00%

Monthly repayments (approx)R858

Total repayments (approx)R30,888

Total interest repayments (approx)R10,888

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR5,000

GO TO Hoopla Loans

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityNo

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone087 724 6110

Data accurate as of18.01.2020

GO TO Hoopla Loans

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Bigger dreams, bigger loan! Dream big with a ubank loan of up to R180 000 payable over 72 months.

Overview

Minimum loan amountR10,000

Maximum loan amountR180,000

Minimum term (months)12 months

Maximum term (months)72 months

Personal loan interest rates (base)21.00%

Personal loan APR21.00%

Monthly repayments (approx)R869

Total repayments (approx)R31,284

Total interest repayments (approx)R11,284

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR3,000

GO TO Ubank

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0860 008 322

Data accurate as of18.01.2020

GO TO Ubank

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Whether you need money for unexpected expenses, a medical emergency, or to fund a specific project, Sanlam can offer you a fixed-rate personal loan according to your needs and circumstances. You can apply for any amount, from R5,000 to R200,000. You can tailor your repayment term to suit your budget (from 24 months to 6 years). Repayments are fixed for your full loan term, so that you can budget ahead easily. Sanlam will always take your current financial circumstances into consideration and never lend you more than you can comfortably afford to repay

Overview

Minimum loan amountR5,000

Maximum loan amountR200,000

Minimum term (months)24 months

Maximum term (months)72 months

Personal loan interest rates (base)21.90%

Personal loan APR21.90%

Monthly repayments (approx)R879

Total repayments (approx)R31,644

Total interest repayments (approx)R11,644

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR5,000

GO TO Sanlam

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0861 440 044

Data accurate as of18.01.2020

GO TO Sanlam

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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.

Overview

Minimum loan amountR2,000

Maximum loan amountR350,000

Minimum term (months)6 months

Maximum term (months)72 months

Personal loan interest rates (base)24.75%

Personal loan APR24.75%

Monthly repayments (approx)R910

Total repayments (approx)R32,760

Total interest repayments (approx)R12,760

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR3,500

GO TO Nedbank

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?No

Sponsored No

Telephone0860 103 582

Data accurate as of12.07.2020

GO TO Nedbank

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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.

Overview

Minimum loan amountR2,000

Maximum loan amountR350,000

Minimum term (months)6 months

Maximum term (months)72 months

Personal loan interest rates (base)24.75%

Personal loan APR24.75%

Monthly repayments (approx)R910

Total repayments (approx)R32,760

Total interest repayments (approx)R12,760

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR3,500

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Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0860 103 582

Data accurate as of12.07.2020

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Apply for a personal loan from R5000 up to R200 000 and get an instant answer! Apply for your loan over a term of anywhere between 2 and 6 years. A guaranteed fixed interest rate means your monthly repayment will never change. Cover your vehicle finance or personal loan debt, in the event of unforeseen circumstances such as dread disease, death, disability or retrenchment.

Overview

Minimum loan amountR5,000

Maximum loan amountR200,000

Minimum term (months)24 months

Maximum term (months)72 months

Personal loan interest rates (base)25.00%

Personal loan APR25.00%

Monthly repayments (approx)R913

Total repayments (approx)R32,868

Total interest repayments (approx)R12,868

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR3,000

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Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0861 238 252

Data accurate as of18.01.2020

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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.

What type of loan are you looking for?

Guide to unsecured personal loans for South Africans

Are you thinking of taking out an unsecured personal loan? With so many loans on offer from different South African lenders, the details can be somewhat confusing. This article breaks it down for you and makes it easy to understand what unsecured personal loans are all about. Additionally, you can use our loan calculator, as directed below, to help you with some necessary calculations.

Introduction to unsecured personal loans

What exactly are unsecured personal loans?

Well, you’re probably familiar with the term “personal loans.” A personal loan is just borrowed money from a financial institution such as a bank or credit union. You can use the money for anything, and common uses include paying for a wedding or even university fees and home renovation.

What does it mean when a personal loan is unsecured?

It simply means that when you take out the personal loan, you don’t need to use your valuable property as collateral. In other words, you can apply for, and receive the loan without using your property (this can be your house or car, etc.) to secure the loan.

How do unsecured personal loans work?

As mentioned above, with an unsecured loan, there is no need to use your property or assets as security. That means you won’t lose your property if you fail to pay back the loan. However, and for this reason, unsecured loans usually have high-interest rates.

By offering higher interest rates, lenders protect themselves from the possibility of you failing to pay back the loan. Lastly, unsecured loans may also have a limit on how much money you can borrow.

Here is a general overview of unsecured loans in South Africa:

  • Lowest amount you can borrow: R1000
  • Highest amount you can borrow: R350 000
  • Loan term: Normally, you’re given between 1 month to 84 months (7 years) to pay back the loan.
  • Interest rate: The maximum interest rate for personal loans in South Africa is 27.5% per annum.

Besides personal loans, other types of unsecured loans include payday loans, lines of credit, and student loans.

When is the best time to apply for an unsecured loan?

The best thing about unsecured loans is you can use the money for anything, and you don’t have to pledge your house or car to secure the loan. However, it is wise not to take out a loan unless you really need the money.

After all, remember that borrowed money is not free money. You have to pay it back with interest. That being said, there are times when you can benefit from taking out a loan. The following examples are reasonable times to apply for an unsecured loan:

  • When you have an emergency – Emergencies come in all shapes and sizes. Regardless of the emergency, you shouldn’t hesitate to borrow money when needed to cover a family or medical emergency.
  • When you want to buy essential items – This could be something you need to use regularly to make life easier. Examples include a laptop, school books, electronics. You can even use the money to fix your car after it breaks down.
  • To pay for something that brings value to you – This could be a holiday or a wedding. They are often expensive but worthwhile, and you may need some financial help to pay for them.
  • To invest in something that brings profit – You can use a personal loan to invest in something that will make you more money.
  • To consolidate debt – Unsecured personal loans are a useful tool for consolidating debt. Use the money to pay off all existing debt, which leaves you with only one loan, which is easier to manage.

Comparing secured and unsecured loans

The main differences between the two types of loans can be explained using the following points:

  • Secured loans such as home and car loans require you to use your car or home to secure the loan. In contrast, unsecured loans do not need such security.
  • There is no risk of losing your property with unsecured loans. But, if you fail to pay back your secured loan, you can use your house or car.
  • Unsecured loans are likely to have higher interest rates than secured loans.
  • Unsecured loans can limit the amount of money you borrow. They also have stricter requirements compared to secured loans; for example, you may not be able to qualify for some unsecured loan if you have poor credit.

Advantages and disadvantages of unsecured personal loans

Borrowing wisely means you also consider the pros and cons of the loan you plan to take out. Generally, an unsecured personal loan offers the following benefits:

  • There is no security required. Hence, you won’t risk losing your valuable assets.
  • You can use the money from the unsecured loan for any purpose.
  • With all requirements in place, applying for an unsecured personal loan is an easy process. The application process can usually be done online by filling out an application form.

However, unsecured loans are also associated with the following disadvantages:

  • They typically have higher interest rates.
  • You may not be able to borrow larger amounts.
  • The loan may need to be paid back over a short term.

How to choose the best unsecured loan for you

In your search for an unsecured personal loan that meets your needs, you’ll find it helpful to look at the following:

  • Interest rate – While unsecured loans have relatively higher rates, you can still find a loan that offers an affordable rate. You also have to decide on whether you want a fixed interest rate or a variable interest rate.
  • The amount of money you can borrow – There are two things to consider here. Firstly, decide on the amount that you can afford to borrow and repay. Secondly, find a loan that can give you the amount you need.
  • Other costs associated with the loan – Choosing a loan with a lower APR (Annual Percentage Rate) will help to keep the total cost of your loan down. The APR includes the interest rate plus other additional charges, such as the service and initiation fee.
  • Additional features – This involves finding out as much information about the loan you are interested in. As an example, you may discover that one loan requires you to pay for credit protection that covers you in case you die, lose your job, or become disabled. Another may charge you a fee if you decide to pay off your loan at a faster rate.

How to apply for an unsecured loan

Before applying, you need to check if you qualify. General requirements include:

  • South African ID;
  • a minimum monthly income (depends on the lender);
  • proof of income. (Usually, bank statements or payslips issued in the last 3 months);
  • a good credit history; and
  • minimum age of 18 years

Once you have chosen a reputable and licensed finance provider, you can head over to their website. To help you with online loan applications, we have featured several options for you and a “Go to Site” button for each online lender. By visiting the website, you can fill out and submit the online application form.

Popular Question: Are there unsecured loans for bad credit?

Yes. Unsecured loans for bad credit are available, but the interest rates are often very high.

How to calculate monthly repayments with our loan calculator

Monthly instalments are a common theme with most loans. You take out a loan, and then you make payments to the lender every month until you have paid all the money back. Therefore, it is important to know how much you will be asked to pay back each month. This helps you to budget and to decide if you can afford the loan or not.

Our easy-to-use calculator helps you with that. Simply enter the loan amount you want to borrow and the amount of time you need to pay back the loan. Once you click on “Calculate Repayment,” you’ll know the expected monthly instalment.

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