Mobicred – online loan South Africa
Revolving credit facility for online shopping up to R50,000
Applying does not commit you to a loan agreement.
Mobicred revolving credit in South Africa
Mobicred is a revolving credit facility used to pay for online purchases at over 1,500 South African stores including Takealot, Yuppiechef, NetFlorist and Superbalist. Credit limits range from R1,000 to R50,000 depending on your income and credit profile.
Apply on the Mobicred website with your ID, latest payslip and three months of bank statements. Approval is automated for clients earning above R5,500 per month with a clean credit record. The limit is approved within 24 hours and you can shop with it immediately at any participating store.
You pay back in monthly instalments from 3 to 36 months. Interest is charged only on the used portion of the limit, not the full facility. There is a monthly admin fee of around R15 plus VAT and credit life insurance. The product is best used for planned purchases that can be repaid within 6 to 12 months. Long terms increase the total interest significantly.
✓ Pros
- Single account for many stores
- Online application in minutes
- Interest only on what you spend
- Choose your repayment term
✗ Cons
- Higher rates than bank credit cards
- Limited to participating retailers
- Monthly admin fee on all balances
Loan example
A R5,000 purchase paid over 6 months at 22% APR results in a monthly repayment of around R890.
Loan requirements
- ✓ 18+ years old
- ✓ South African ID
- ✓ Monthly income above R5,500
- ✓ SA bank account
- ✓ Three months bank statements
Loan features
- Credit limit R1,000 to R50,000
- Term 3 to 36 months
- Accepted at 1,500+ online stores
- Interest only on used amount
Frequently asked questions
24 hours after submitting your application.
The minimum amount at Mobicred is R1,000.