Loan is a way or process of lending or borrowing money to a person/company/organization etc for specific/certain period of time, interest are charged to a lender depending on the conditions. Loan can assist individuals or group in settling unplanned or planned event such as paying debt, wedding/party preparation, buying house/car/furniture, etc. Companies that offers loan in South Africa msut be registered with National Credit Regulator (NCR)

Companies offering Loans

Loans Min and Max amount Duration to settle loan Website
IZWE Loans R6 000 to R99 000 9 to 42 Months
CLIENTELE LOANS R2000 to R120 000 12 to 60 months
BOODLE R100 to R3 000 2 days to 38 days
CAPFIN R1000 to R30 000 6 to 12 months
RCS up to 150 000 from 12 to 60 months
OLDMUTUAL up to R175 000 up 60 months
DIRECTAXIS R5000 up to R150 000 24 to 72 months
WESBANK R5000 up to R200 000 2 to 6 years
WONGA R316 up to R3000 4 to 42 days
1life R5000 to R150 000 12 to 60 months

Be your loan can be approved you need to meet a certain requirements depending on the type of loan you are applying, for example requirement for personal loan are not similar to study loan. Below are the requirements needed when applying for a Loan(NB: not all companies need the following requirements sum need more than that some need less).

Things needed when applying for a Loan
  • SA ID Number or Book
  • SA Bank Account
  • Three latest bank statements or payslips for income
  • Proof of residence
  • Cell numbers
  • A good credit record

  • Thu , 22 Jun 2017

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