Personal loans in South Africa
A personal loan is unsecured credit repaid in fixed monthly instalments, typically from R2 000 up to a few hundred thousand rand over one to seven years. The National Credit Act caps the interest at the repo rate plus 21% a year, and that cap is where many non-bank lenders price. Banks price on your profile, and a good record with your own bank is usually the cheapest credit available to you.
We have no partner agreement with a bank, so no bank offer appears below and we earn nothing if you take one — get your own bank's quote first and treat it as the number to beat. What is listed underneath are matching services: each takes one application and puts it in front of a panel of registered lenders. The rest of this page is what you can hold any quotation against — the legal maximum, what the term does to the total, and the calculator for your own amount.
Options that fit this search
Binixo4.5Matching service · not a lenderFeatured partnerOne form, passed to a panel of registered lenders. The loan agreement is with the lender.
The widest single form on this list: R1 000 to R50 000 across a named partner panel, free to use.
- Advertised
- R1 000 – R50 000
- Term
- 3 months – 6 months
- Payout
- Set by the lender you choose; the site says same day
- For: One form covers R1 000–R50 000, the widest range here
- Against: Partners overlap with other entries here, so some options repeat
Letocredit3.0Matching service · not a lenderOne form, passed to a panel of registered lenders. The loan agreement is with the lender.
A quick way to see several small-loan lenders at once; ignore the 'no credit check' line on its homepage.
- Advertised
- R500 – R15 000
- Term
- 2 months – 12 months
- Payout
- Same day for most partner lenders; often 15–30 minutes after confirmation
- For: Free, and explicit that it is not a lender
- Against: 'No credit history check' claim contradicts the affordability assessment every registered lender must run
MoneyHello4.0Matching service · not a lenderOne form, passed to a panel of registered lenders. The loan agreement is with the lender.
The most transparent matching service on this list: names every partner lender and its NCRCP number.
- Term
- 3 months – 72 months
- Payout
- Set by the lender you choose after matching
- For: Names its partner lenders and their NCRCP numbers
- Against: Not a credit provider — your agreement is with whichever lender accepts you
Featured partners pay us a commission when you apply through them; that decides the position, not the star rating. Matching services are not lenders — your agreement is with the lender that accepts you, and every lender must assess affordability.
Matching services: one form, several lenders
These are not lenders. Each takes one application and passes it to a panel of registered credit providers, who then decide, quote and pay out. The agreement you sign is with the lender, and every lender still runs an affordability assessment.
- Letocredit3.0Matching service · not a lender
One form, passed to a panel of registered lenders. The loan agreement is with the lender.
A quick way to see several small-loan lenders at once; ignore the 'no credit check' line on its homepage.
- Advertised
- R500 – R15 000
- Term
- 2 months – 12 months
- Payout
- Same day for most partner lenders; often 15–30 minutes after confirmation
- MoneyHello4.0Matching service · not a lender
One form, passed to a panel of registered lenders. The loan agreement is with the lender.
The most transparent matching service on this list: names every partner lender and its NCRCP number.
- Term
- 3 months – 72 months
- Payout
- Set by the lender you choose after matching
- Binixo4.5Matching service · not a lender
One form, passed to a panel of registered lenders. The loan agreement is with the lender.
The widest single form on this list: R1 000 to R50 000 across a named partner panel, free to use.
- Advertised
- R1 000 – R50 000
- Term
- 3 months – 6 months
- Payout
- Set by the lender you choose; the site says same day
Finpug3.0Matching service · not a lenderOne form, passed to a panel of registered lenders. The loan agreement is with the lender.
Letocredit's sister site with a wider amount slider; it openly encourages applying to several lenders at once.
- Advertised
- R500 – R50 000
- Term
- 2 months – 12 months
- Payout
- Usually within 30 minutes of a partner lender's approval in business hours
Creditomax2.5Matching service · not a lenderOne form, passed to a panel of registered lenders. The loan agreement is with the lender.
A matching service that publishes less about itself than any other entry here — apply through it only if you already know the lender.
Crezu4.0Matching service · not a lenderOne form, passed to a panel of registered lenders. The loan agreement is with the lender.
Names its operator, publishes its terms and an example, and covers everything from R500 to a consolidation loan.
- Advertised
- R500 – R350 000
- Term
- 6 months – 72 months
- Payout
- Offers in about 2 minutes; the site says funds within 15 minutes of a lender's approval
Creditum3.5Matching service · not a lenderOne form, passed to a panel of registered lenders. The loan agreement is with the lender.
Arcadia's twin from a Finnish publisher, on the same Myloan panel, with the same clear example.
- Advertised
- R500 – R350 000
- Term
- 6 months – 72 months
- Payout
- Non-binding offers in seconds; payout set by the lender you choose
Matching service · not a lenderOne form, passed to a panel of registered lenders. The loan agreement is with the lender.
The longest-running matching service here, with a real review record and the widest term range.
- Advertised
- R100 – R350 000
- Term
- 3 months – 72 months
- Payout
- Offers immediately after the form; payout set by the lender you choose
Dengoo2.5Matching service · not a lenderOne form, passed to a panel of registered lenders. The loan agreement is with the lender.
Names no company behind it and promises 'no checks required' — treat it as a form that reaches LendPlus, Lime24 and the Myloan panel.
- Advertised
- up to R350 000
- Term
- up to 12 months
- Payout
- Site says up to 15 minutes after the partner lender's approval
Borrowing money costs money — only borrow what you can afford to repay. Lenders listed here publish a National Credit Regulator registration; matching services are not lenders and are labelled as such. The order of our lists reflects our partner agreements; the star ratings are our own. Costs shown as "legal maximum" are the caps set by the National Credit Act, not a lender's price.
How personal loan costs are capped
Interest may not exceed the repo rate plus 21 percentage points a year. The initiation fee is capped at R165 plus 10% of the amount over R1 000, to a maximum of R1 050 before VAT. The monthly service fee is capped at R60 before VAT, and credit life insurance at R4.50 per R1 000 of the outstanding balance per month. A lender must give you a pre-agreement statement and quotation showing the total cost before you sign — read the total repayable, not the instalment.
Why the term matters more than the rate
A longer term lowers the instalment and raises the total cost, because interest, service fees and credit life all run for more months. R20 000 over 24 months at the cap costs a great deal less in total than the same loan over 60 months, even though the monthly figure looks friendlier. Choose the shortest term you can comfortably afford, and settle early when you can: the Act allows early settlement on personal loans with limited notice and, for loans under R250 000, no penalty interest.
Bank versus non-bank lenders
Banks lend below the cap to clients with clean records and steady income, and for existing clients the decision is often instant in the app. Non-bank lenders accept a wider range of profiles and often pay out within a day or two, but price closer to the cap. If your record is impaired, a non-bank lender may be the only realistic option; if it is clean, get your own bank's quote first and use it as the benchmark.
Consolidation and debt review
A personal loan used to consolidate other debts only helps if the new instalment is lower and you stop using the accounts you paid off. If your total debt is unmanageable, a debt-review application under the National Credit Act restructures what you owe under a debt counsellor; while under debt review you cannot take a new personal loan.
Questions people ask
›What is the maximum interest rate on a personal loan?
The repo rate plus 21% per year, set by the National Credit Act regulations. The exact figure moves with the SARB repo rate.
›How much can I borrow?
Non-bank lenders go up to around R250 000 and banks up to R300 000 or more, but the amount is set by your affordability assessment, not the lender's headline maximum.
›Can I pay a personal loan off early?
Yes. The National Credit Act allows early settlement. For loans under R250 000 there is no early-settlement penalty.
›Does applying at several lenders hurt my credit score?
Each application is recorded as an enquiry. A few enquiries in a short period are normally read as shopping around; a long run of applications can count against you.
Borrowing money costs money — only borrow what you can afford to repay. Lenders listed here publish a National Credit Regulator registration; matching services are not lenders and are labelled as such. The order of our lists reflects our partner agreements; the star ratings are our own. Costs shown as "legal maximum" are the caps set by the National Credit Act, not a lender's price.