Get Personal Loans While You Still Can

The SA banking industry is under huge pressure to stop making unsecured personal loans.

Soon it will be a lot harder to get a personal loan as the laws regarding easy loans in under review.

You should consider borrowing money this year, while you still can.


When African Bank was on the brink of collapse because the people it had lent money to could not repay their debt, the government had to step in and pump billions of rand of taxpayer’s money to rescue the bank.

Get Personal LoansThe eyes of the international community turned to the South African banking system. As a direct result of the African Bank debacle, the rating agency Moody’s downgraded Capitec Bank, fearing the same thing could happen to it as happened to African Bank.

This was despite the fact that Capitec Bank has a completely different business model to African Bank. Capitec Bank accepts deposits from which is makes personal loans, while African Bank uses purely its capital to lend to borrowers.

And then, just for good measure and to make the international banking community’s displeasure known, the rating agency also downgraded South Africa’s Big 4 banks – FNB, Absa, Standard Bank and Nedbank. This makes it harder for these banks to raise capital so they will have a lot less capital to fund lending.


The government does not have much choice other than to tighten up the legislation regarding the lending of money to people do not have security such as property and financial investments to back up their loan. New laws are under discussion. Soon it might be all but impossible to get personal loans.


There are several avenues you can go to get personal loans:

  1. Your bank. All banks in South Africa including the now downgraded Absa, Nebank, FNB, Capitec Bank and African Bank are all still lending money. Get personal loans there while you can
  2. There are several smaller lenders called microlenders who offer loans to blacklisted or unsecured borrowers. These include Bridge Loans, Thuthukani and Mzansi. You can find them in the main shopping area of your town.
  3. Borrow against your life insurance policies. You may not know that if you have been paying monthly premiums on a life insurance policy it has probably built up a value against which you can borrow a certain sum of money. This is a cheaper way of getting cash fast than taking out personal loans.
  4. It is easy to get loans online. This can be for any purpose, including education, school clothes and books, buying food and debt consolidation. Some of the leading online lenders include Boodle and Wonga.
  5. Any employed person can get personal loans by completing the form on this page.

Remember that you should not be taking out personal loans if you cannot make the monthly repayment. If used properly a personal loan can be useful in restructuring debt and helping you out in cases of emergency.

Next step: To get a loan please complete and submit the form on this page


All info was correct at time of publishing