Loans for Zimbabweans living in South Africa

        Loans for Zimbabweans living in South Africa

It's hard to get loan as foreigner in SA because of credit history. But there are many loan needed Zimbabweans with work permit. Several SA loan providers can approve loans without credit history.

R8 000
Loan amount R500 - R8 000
Interest 27 %
Maturity 1 - 3 months

Fast information

Properties of this loan

  • Online loans up to R8.000
  • Term 1 - 3 months
  • Fast application

Loan requirements

  • You need to be a South African citizen and above 18 years of age
  • You also need to be employed and have a valid bank account

About company

More information about the company FASTA (Pty) Ltd.

Borrow from R500 with interest from the 27 % Moread
R3 000
Loan amount R500 - R3 000
Interest 25,8 %
Maturity 5 - 37 days

Fast information

Properties of this loan

  • Online loans up to R3.000
  • Term 5 - 37 days
  • First 5 days interest free

Loan requirements

  • Presence of client ID
  • Current account number in an African bank
  • Minimum application criteria

About company

More information about the company Wanna Loan Technology (Pty) Ltd

Borrow from R500 with interest from the 25,8 % Moread
R250 000
Loan amount R10 000 - R250 000
Interest 12,9 %
Maturity 1 - 84 months

Fast information

Properties of this loan

  • Online loans up to R250.000
  • Term 1 - 84 months
  • Easy online application

Loan requirements

  • Original identification document (must be 18 years or older). If your name and/or surname differs from your identification document, a marriage certificate, divorce court order or name
  • change letter will be required
  • Latest salary slip
  • Any original bank statement showing your latest 3 consecutive salary deposits into an account in your name (an over-the-counter bank statement must be stamped)

About company

More information about the company Capitec Bank Ltd.

Borrow from R10 000 with interest from the 12,9 % Moread
R5 000
Loan amount R300 - R5 000
Interest 1,5 %
Maturity 7 - 30 days

Fast information

Properties of this loan

  • Online loans up to R5.000
  • Term 7 - 30 days
  • Money in 15 minutes

Loan requirements

  • South African ID
  • Be over 18 years of age
  • Have a bank account
  • Have an internet access

About company

More information about the company CashCat CO ZA

Borrow from R300 with interest from the 1,5 % Moread
R100 000
Loan amount R500 - R100 000
Interest 10 %
Maturity 1 - 36 months

Fast information

Properties of this loan

  • Online loans up to R100.000
  • Term 1 - 36 months

Loan requirements

  • Original SA ID
  • 2 months latest payslips
  • 3 months latest bank statements

About company

More information about the company Letsatsi Finance and Loan (Pty) Ltd

Borrow from R500 with interest from the 10 % Moread

        Loans for Zimbabweans living in South Africa

The chief reason being your credit profile might not be stellar enough for lenders to assess your creditworthiness and affordability. Your credit history is critical to banks and other lending institutions because it is a basis to judge if you can afford to repay the loan. Without this piece of information, most lending institutions will reject your loan application.

But fret not – there are loans for Zimbabweans living in South Africa structured just for you.

The bills have to be paid, and as it is – and your next payday could be weeks away. Before you think about taking your valuable items to a shylock, consider applying for loans for Zimbabweans living in SA. Chiefly, all you need is a working permit, and be a full-time employee. 

Why it’s difficult to obtain a loan in SA if you’re a foreigner

If you are foreigner, it’s an uphill task to get a loan because of these three reasons:            

  1. Limited access to credit.  Before lenders in SA can extend to you any type of a loan, they’ll want to know if you have a solid credit history. Or pick loans with bad credit. Borrowers who have an outstanding credit profile always have an advantage over those with whose profile has been adversely affected. Unfortunately, as a foreigner living in South Africa, you might not have a stellar credit history as leverage.
  2. Costly fees. As a foreigner, you do not have an established credit profile. For this reason, lenders consider you as a high-risk borrower. Thus, the loan attracts high-fees on interest rates.  With higher interest rates, you could end up paying higher repayment instalments.  The same goes for insurance rates – the cost is elevated because of the risk associated.
  3. Not having relevant Paperwork. Some foreigners living in SA might not have all the legal documents necessary. Without relevant paperwork, lenders will downright reject the loan applications.

Types of loans you can apply as a Zimbabwean foreigner

Unsecured loans are the most common loans that even foreigners with a valid South African ID get approved. Some lenders offer consumers loans without checking their credit history. Payday loans and personal loans are the popular unsecured loans offered in SA.

Where to apply for loans for Zimbabweans in SA

Zimbabweans living in SA can apply for a loan through some banks and financial institutions. However, not every bank welcomes foreigners seeking a loan. Some banks like the FNB will turn you down while the Standard Bank and Nedbank might accept your application. Apart from banks, you could choose to go with online lenders like CoolFinance.com to find affordable loans on demand.

Also note that lenders insist that Zimbabweans applying for a loan in SA must repay the loan, plus interest fees before leaving the country.

Loan requirements     

If you are Zimbabwean living in SA, you need the following to apply for a loan:

How to improve your chances of getting approved         

You can always do something to build your credit report and improve your chances of getting approved for a loan as a foreigner.  Here are some tips:

Final thoughts     

Loans for Zimbabweans living in South Africa are purposely structured for foreigners working and living here. As a Zimbabwean living in South Africa, don’t get stuck any longer or even think about giving away some of your items at a shylock. The next time an emergency hits, stay calm knowing you have options to explore. All you need is a work permit and an employment contract. You never know when a financial emergency will strike. You’ll find yourself in circumstances where you need money. It could be for overdue monthly bills like rent. It could be you want the money to undertake some home repairs or car repairs. Whichever the case – some lenders in SA got your back should you opt for a loan.  


Loans for Zimbabweans living in South Africa rating: 4.5/5 from 128 votes.
Lincoln Ndirangu Lincoln Ndirangu(LinkedIn)
Lincoln Ndirangu is a professional freelance web copywriter based in Nairobi, Kenya. For over 7 years, writing for the web and engaging the online audience has been primary focus and passion.More information...

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