Loans FAQ

No. Our service is completely free for consumers. We earn a small commission from lenders only when a successful referral is made. This does not affect the interest rate or fees you pay to the lender.

Yes. Payday loans (classified as short-term credit under the NCA) are legal when offered by credit providers registered with the National Credit Regulator (NCR). Always verify that a lender displays a valid NCR registration number before applying.

Most registered short-term lenders offer amounts between R500 and R8,000. The exact amount you qualify for depends on your income, existing debt, and the lender’s affordability assessment (required by the NCA).

Repayment terms typically range from a few days up to 6 months. Many “payday” style loans are designed to be repaid on or around your next salary date (usually 7–35 days), while other short-term products can run up to 6 months.

Under the National Credit Act, short-term credit is strictly capped:

• Interest: maximum 5% per month on the first short-term loan in a calendar year, and 3% per month on subsequent short-term loans.
• Initiation fee: generally R165 + 10% of the amount above R1,000 (subject to overall caps).
• Monthly service fee: capped (currently around R69 + VAT).

Always request the full pre-agreement statement and quotation so you can see the total cost of credit before accepting any offer.

Typical requirements include:

• Valid South African ID (or permanent residency)
• Proof of regular income (recent payslips or bank statements showing salary deposits)
• Active South African bank account in your name
• Contact details (cellphone number and email)

Some lenders may also request proof of address.

Many short-term lenders focus more on your current income and ability to repay than on a perfect credit score. However, all registered lenders must still perform an affordability assessment. Active debt review or certain serious adverse listings can still result in a decline.

Once approved by a lender, funds are often paid into your bank account the same business day (sometimes within minutes or hours). Processing times can be slower on weekends, public holidays, or if extra verification is needed.

• Complete our short online form.
• We match you with suitable lenders from our panel.
• You complete the lender’s application (they will run the required credit and affordability checks).
• If approved, the lender pays the money directly into your account.

Yes. Under the National Credit Act you have the right to settle your loan early at any time. Lenders may not charge excessive early settlement penalties beyond what the NCA allows. Settling early usually reduces the total interest you pay.

Avoid any lender that:

• Asks for your bank card, PIN, OTP, or ID book as security
• Is not registered with the NCR
• Guarantees approval with “no credit checks”
• Demands any upfront fee before paying out the loan
• Uses threats or intimidation

These practices are illegal under the NCA.

Contact the lender immediately to discuss options. Unpaid debt is a civil matter – you cannot go to jail simply for not paying a loan. However, missed payments can be reported to credit bureaus and may lead to legal collection processes. Debt counselling is available if you are over-indebted.

We take data protection seriously and only share the information necessary for the referral process with lenders on our panel. Always check the privacy policy of any lender you apply with.

First raise the issue with the lender. If unresolved, you can contact the National Credit Regulator (NCR) or the relevant credit ombud. We can also guide you on the correct steps if needed.