Payday Loans

        Payday Loans

Payday Loans

With the cost of living being so steep, and poverty levels steadily rising, the ordinary South African may find themselves on the search for quick cash, such as payday loans. Like the name suggests, these are small loan lent out to individual with the expectation they will repay using their next pay check.

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 terms

  • 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 % Get a loan
R250 000
Loan amount R1 000 - R250 000
Interest 20 %
Maturity 6 - 84 months

Fast information

Properties of this loan

  • Online loans up to R250.000
  • Term 6 - 84 months

Loan terms

  • A copy of your I.D.
  • Your most recent monthly bank statements
  • A copy of your most recent pay slip
  • Proof of residence (not more than three months old)

About company

More information about the company Bayport Financial Services 2010 (Pty) Ltd.

Borrow from R1 000 with interest from the 20 % Get a loan
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
R5 000
Loan amount R1 000 - R5 000
Interest 3 %
Maturity 1 - 6 months

Fast information

Properties of this loan

  • Online loans up to R5.000
  • Term 1 - 6 months
  • Same-day cash

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 Cobol Finance

Borrow from R1 000 with interest from the 3 % Get a loan
R4 000
Loan amount R500 - R4 000
Interest 0,16 %
Maturity 7 - 56 days

Fast information

Properties of this loan

  • Online loans up to R4.000
  • Term 7 - 56 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 contact number (for SMS) and bank details
  • Recent pay slips and Proof of address via document

About company

More information about the company GetBucks (Pty) Ltd

Borrow from R500 with interest from the 0,16 % Get a loan

Udu

Udu  4
R150 000
Loan amount R4 000 - R150 000
Interest 41,94 %
Maturity 12 - 60 months

Fast information

Properties of this loan

  • Online loans up to R150.000
  • Term 12 - 60 months

Loan terms

  • Your ID documents
  • Proof of residence

About company

More information about the company Transaction Capital Recoveries (Pty) Ltd

Borrow from R4 000 with interest from the 41,94 % Get a loan
R1 000
Loan amount R1 000 - R1 000
Interest 20 %
Maturity 5 - 40 days

Fast information

Properties of this loan

  • Online loans up to R1.000
  • Term 5 - 40 days
  • Easy online application

Loan terms

  • Be prepared to e-mail a copy of your latest greatest bank statement
  • ID.

About company

More information about the company PaydayLoans 2.0

Borrow from R1 000 with interest from the 20 % Get a loan
R150 000
Loan amount R100 - R150 000
Interest 34,9 %
Maturity 3 months - 6 years

Fast information

Properties of this loan

  • Online loans up to R150.000
  • Term 3 months - 6 years
  • Easy online application

Loan terms

  • If you are a South African citizen
  • Over 18 years of age
  • Employed and banked

About company

More information about the company Loans 4 Payday

Borrow from R100 with interest from the 34,9 % 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
R3 000
Loan amount R500 - R3 000
Interest 15 %
Maturity 5 - 35 days

Fast information

Properties of this loan

  • Online loans up to R3.000
  • Term 5 - 35 days
  • Easy online application

Loan terms

  • A personal bank account, taken out in your own name, active for at least of 3 months
  • A contactable e-mail address that you have daily access to
  • A permanent job, where you earn a monthly or weekly salary - NOT fortnightly
  • Earning a monthly salary of at least R4 000
  • At least 18 (eighteen) years of age
  • A South African Citizen
  • No judgments or defaults

About company

More information about the company PayDay Loans (Pty) Ltd.

Borrow from R500 with interest from the 15 % Get a loan
R250 000
Loan amount R1 000 - 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
  • First loan strictly for women

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 First for Women Insurance Company Limited

Borrow from R1 000 with interest from the 27,75 % Get a loan
R2 500
Loan amount R100 - R2 500
Interest 36 %
Maturity 30 - 60 days

Fast information

Properties of this loan

  • Online loans up to R2.500
  • Term 30 - 60 days
  • Online application

Loan terms

  • Age – 18 Years or Above
  • South African Citizen
  • Must have a Bank Account
  • Have a Permanent Employment

About company

More information about the company Fak'Imali Cash Loans Trading as Matotololo Group (Pty) Ltd

Borrow from R100 with interest from the 36 % Get a loan

        Payday Loans

These types of loans are ideal for resolving small cash shortages as you wait for your salary at the end of the month. Hence, they are classified as short term loans and the amount of money borrowed is in relatively small amounts; averaging a fraction of your pay check. 

Applying For a Payday Loan Online

You can apply for payday loans online from a wide array of private lenders. However, if you want better terms, it is advisable to apply for the loan from the bank which you receive your pay slips. Regardless of whether you are in debt or have a bad credit history, you can apply for a payday loan provided you are employed and can provide proof of employment.

Irrespective of the lender you go to for a payday loan, you will need to provide:

Fees for Payday Loans South Africa

Every loan comes with a certain set of fees attached to it. These fees include:

Unlike typical loans which you can pay within a few months, payday loans are always due at the end of the month irrespective of the amount borrowed. If you borrow a large sum, the above fees can have a substantial impact on your salary.

Tips on How to Maximize on Your PayDay Loans

  1. If possible, borrow from the bank that receives your salary. Such a bank will probably provide better rates since you are a valued customers
  2. Borrow small amounts for minor problems. When taking a payday loan only borrow an amount that will have a minimal effect on your overall salary.  When fees get applied on the payday loan, the amount can become substantial and hence you will receive a small portion of your salary at the end of the month.
  3. Make sure the amount you will repay doesn’t affect other debts. If you have other pending loans that your salary services, it is essential to ensure that the payday repayment doesn’t affect the monthly premium you pay towards those other loans. If you are left without enough money to service either loan, your credit score will be affected.
  4. Avoid private lenders. Private lenders may be the only option if you have bad credit; however, the interest they charge on payday loans is higher than banks.

Remember quick payday loans are ideally suited for solving small cash problems like utility bills. As such, consumers are advised to borrow small amounts that they can repay comfortably.


Payday Loans rating: 4.5/5 from 27 votes.

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