Loans for Bad Credit

        Loans for Bad Credit

Loans for Bad Credit

When an individual takes up a loan from a lender they usually have the intentions of paying it back in a timely fashion. However, a person’s financial situation is as unpredictable as the weather.

R4 000
Loan amount R500 - R4 000
Interest 18,6 %
Maturity 4 days - 6 months

Fast information

Properties of this loan

  • Online loans up to R4.000
  • Term 4 days - 6 months

Loan terms

  • A cellphone number
  • SA ID number
  • Bank account details
  • Most recent proof of income

About company

More information about the company Wonga Finance SA (Pty) Ltd.

Borrow from R500 with interest from the 18,6 % Get a loan
R150 000
Loan amount R1 000 - R150 000
Interest 10 %
Maturity 10 - 72 months

Fast information

Properties of this loan

  • Online loans up to R150.000
  • Term 10 - 72 months
  • Almost instant approval

Loan terms

  • You are 18 years of age or older
  • You are a citizen of South Africa
  • You have a fixed monthly income which is at least R1500 per month
  • You have a Bank Account in South Africa

About company

More information about the company EasyCashLoans

Borrow from R1 000 with interest from the 10 % Get a loan
R250 000
Loan amount R0 - R250 000
Interest 27,75 %
Maturity 12 - 60 months

Fast information

Properties of this loan

  • Online loans up to R250.000
  • Term 12 - 60 months
  • Cash in your account within 24 hours

Loan terms

  • Be 18 years or older
  • Have a valid SA ID or Drivers License
  • Have a bank account
  • Be employed and earn R2 000 or more per month
  • You will be required to provide proof of income documentation

About company

More information about the company Dial Direct Insurance Ltd

Borrow from R0 with interest from the 27,75 % Get a loan
R4 000
Loan amount R500 - R4 000
Interest 38 %
Maturity 1 - 30 days

Fast information

Properties of this loan

  • Online loans up to R4.000
  • Term 1 - 30 days

Loan terms

  • ID client number
  • Bank finance details
  • Recent three month bank statement
  • Proof of employment

About company

More information about the company Quick Ching (Pty) Ltd t/a Mulah

Borrow from R500 with interest from the 38 % Get a loan
R2 000
Loan amount R500 - R2 000
Interest 30 %
Maturity 7 - 25 days

Fast information

Properties of this loan

  • Online loans up to R2.000
  • Term 7 - 25 days
  • Fast online application

Loan terms

  • Have and Identity Document of the Republic of South Africa
  • Be over 18 years old

About company

More information about the company Kwalaflo (Pty) Ltd

Borrow from R500 with interest from the 30 % Get a loan
R150 000
Loan amount R1 000 - R150 000
Interest 20 %
Maturity 1 - 60 months

Fast information

Properties of this loan

  • Online loans up to R150.000
  • Term 1 - 60 months
  • Fast application, instant approval.

Loan terms

  • You must be permanently employed
  • You must earn over R5,000 per month
  • You must be aged over 18 years

About company

More information about the company Freedom Loans

Borrow from R1 000 with interest from the 20 % Get a loan
R200 000
Loan amount R100 - R200 000
Interest 10 %
Maturity 1 - 60 months

Fast information

Properties of this loan

  • Online loans up to R200.000
  • Term 1 - 60 months
  • Fast online application

Loan terms

  • The minimum age to use our service is 18
  • Must be a current resident of South Africa
  • Need an active South African bank account to allow the money to be transferred to you
  • Have to be a current resident of South Africa
  • You must have an income every month whether it be benefits or a job

About company

More information about the company Mayday Loans

Borrow from R100 with interest from the 10 % Get a loan
R9 000
Loan amount R300 - R9 000
Interest 0 %
Maturity 4 - 65 days

Fast information

Properties of this loan

  • Online loans up to R9.000
  • Term 4 - 65 days

Loan terms

  • The borrower’s age should be in the range of 18 to 65 years
  • Users must pass a credit check
  • Requires a current email address
  • Provision of current phone number and Debit card
  • Recent pay slips and Proof of address

About company

More information about the company Binixo Corporation

Borrow from R300 with interest from the 0 % Get a loan

        Loans for Bad Credit

Sometimes, additional financial problems arise or you become overwhelmed by rising expenses and debts to the point you are unable to keep up with your loan repayments. In such a situation, you might default on a few payments or even file for bankruptcy. Irrespective of which option you take, your credit score will get affected. However, the good news is that even if you have a bad credit score, you can still get a loan in South Africa. To learn more, read below to find out how.

Understanding Bad Credit

In South Africa, every person has a credit score which is derived from their credit history. Credit history is a record of all the credit transactions you have conducted in the past. If you have paid off your credit in good time without any mishaps then your credit score is better than that of an individual who has defaulted or had late payments on loans.

A credit score is utilized by lenders to determine your creditworthiness. Hence, if you have bad credit then your creditworthiness won’t inspire confidence in lenders. It becomes extremely difficult to secure even a small online loan with bad credit. However, there are still options available for those with bad credit.

How to Get a Loan with Bad Credit

Getting a loan on bad credit is a matter of choosing the right types of loans that lenders are willing to provide to you. Below are some of the most common types of loans for people with bad credit.

a) Secured Loans

Secured loans are loans that are taken against an asset that acts as the security for the loan. For instance, you can secure a loan from a lender with your car, property, or any other asset that has a substantial monetary value.

How to get a home mortgage loan with bad credit

At this point you may be wondering how to get a mortgage with bad credit. Well, if you can make to raise the initial deposit for the property and provide reasonable means of repaying the loan, then you can get a mortgage. A mortgage in its self is a secured loan because the lender owns the majority equity in the home and hence you can only fully own the property after you have fully repaid the mortgage.

b) Payday Loans

Payday loans are another type of loan that an individual with bad credit can still acquire. A payday loan is a short-term loan that an individual takes up against their next pay check. Although a bad credit score might affect how much money you can borrow, anyone is eligible for a payday loan provided they are employed.

A pay day loan may be ideal for people with bad credit because you do not have to provide any form of security. However, the amount of money you can borrow from a lender as a payday loan is limited to your salary. It's essential to note that not all lenders are willing to lend money to people with bad credit. Hence, you will need to research the lenders who are willing to lend to you if you have bad credit.


Loans for Bad Credit rating: 4.5/5 from 21 votes.

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