Important disclosure

Virgin Money Loans

Virgin Money is a financial services brand operating out of South Africa, Australia and the UK. Virgin Money is currently partnering with Capitec Bank to bring its customers affordable, personalised loans.

Whether you want to purchase your dream vehicle, pay for your child’s tuition fees or undertake a home renovation project, Virgin Money loans will help you get there.

Simply input the loan amount, adjust the filter to your desired loan term and then click calculate for your estimated monthly payment to appear.

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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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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

Hide info -

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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.

What type of loan are you looking for?

About Virgin Money loans in South Africa

Getting a loan from Virgin Money is more than just borrowing. It’s the personal satisfaction and joy you get from putting the funds to use. With a Virgin Money personal loan, you can build a home, not just a house. You can see your child graduate, and you can be the proud new owner of your first car. From the start, Virgin Money promises you a great and straightforward loan deal plus excellent customer service to match.

If this sounds good, and you want to see where the money is, this article shows you what you need to know to start enjoying the benefits of Virgin Money.

How do Virgin Money loans work?

Take advantage of the easy application process to access the following features of Virgin Money loans:

  • Choose a loan amount between R1000 and R250 000;
  • Pay back your loan over a period that’s between 1 month and 84 months (7 years);
  • Choose monthly instalments that are affordable or which help you save on interest;
  • Low and competitive interest rates that start from 12.9%; and
  • Once the loan is approved, you can start using your money immediately.

What is needed before applying for a Virgin Money personal loan?

  • Be 18 years and older;
  • Valid South African ID;
  • A utility bill or any approved document in your name which has your address to use as proof of residence;
  • Your latest payslip; and
  • A stamped bank statement showing salary deposits for the last 3 months.

Use the Virgin Money personal loan calculator to choose an affordable loan

The Virgin Money loan calculator from CompareLoans is a free and useful tool that calculates your estimated monthly repayments. If you’re interested in a Virgin Money personal loan, but you’re not yet sure if you can afford it, this calculator helps you decide. Simply, use the sliding tools to choose the loan amount and the repayment period. Next, click “Calculate Repayment” to find out the size of your expected monthly payments. You might have to use the loan calculator several times before you find an affordable option.

How do you make a Virgin Money loan application?

Ready to make a quick, online application? You can start the Virgin Money loan application while on this page. Scroll up to our comparison tables and visit the Virgin Money website with just one click on their “Go to Site” button. Once you’re there, you can complete your application in 3 easy steps:

  1. Fill in an online form: A loan enquiry requires you to supply your personal details such as email address, ID number, mobile number, and employment details. You also have to choose the amount of money you wish to borrow.
  2. Make a decision: Virgin Money acts as a go-between, and they forward your loan application to their lender partners. For example, one of their partners, Capitec Bank, will look at your application before deciding what they can offer you. If you like this offer, you can accept it.
  3. Finalise the contract with your desired lender: After you choose a loan offer, the lender will guide you on the best way to complete the application. Once the loan is approved, you receive money in your bank account as quickly as possible.

Get a personalised loan from Virgin Money

Virgin Money is a responsible lender, and they require their customers to borrow money responsibly. That means your application will only be approved if they believe you can afford to repay the loan. To make an informed decision on what you can afford, Virgin Money looks at the following information:

  • Banking history: Your income must be regular and stable. If you earn more, you can qualify for a bigger loan.
  • Expenses: Virgin Money considers what sort of expenses you deal with every month to see if the loan you’re applying for fits into your budget.
  • Credit history: This shows whether you can be trusted to make your loan repayments based on your past behaviour. Making loan repayments on time improves your credit score which, in turn, helps you to get a lower and affordable interest rate. Furthermore, paying off your loan quickly means you pay less interest.

Why should you choose Virgin Money?

  • They only work with lenders that are accredited by the NCA (National Credit Act).
  • Your personal information is safe and never stored.
  • They offer the best services to make sure you get a loan offer that works for you.
  • They have a simple, online application process.

How does a Virgin Money consolidation loan work?

Virgin Money does not directly offer debt consolidation loans. Still, you can always use your Virgin Money personal loan to consolidate your debt. This is how a Virgin Money consolidation loan works:

  • Once you receive the loan money in your bank account, you can use it to pay your existing debt.
  • The debt consolidation loan, therefore, helps you to manage your payments.
  • This is because you will only be left with your current Virgin Money loan, which requires a single monthly payment. You can also choose a better monthly repayment by opting for the right loan term when you apply for the loan. Lastly, a Virgin Money consolidation loan can help you save money if you get a more affordable interest rate.

How does a Virgin Money credit card work?

A Virgin Money credit card gives you a cash advance with a limit that is based on your credit score. It has the following advantages:

  • No charges when you swipe your credit card;
  • No monthly or annual service fees;
  • You can link up to three additional cards to your bank account;
  • Free automatic travel insurance; and
  • Exclusive access to Virgin Money rewards.

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