There’s no need to be caught short financially this month.

It is relatively easy to obtain quick online personal cash loans in South Africa today.

However, there is a price to pay as the cost of interest rates can soar to 112% annually.

So think very carefully before choosing this option.

What does It cost to Take out Quick online Personal cash Loans?

  • Check interest rates repayable – they can be high
  • Quick cash loans are for individuals, and not a business
  • You must earn at least R2 000 monthly
  • Cash loans are for amounts not more than R50 000
  • You do not have to provide any security
  • Cash loans are pegged at short-term repayment periods
  • Payday loans ease monthly cash flow problems


There are other solutions that could be cheaper.

What is a Personal loan?

Personal loans are granted to individuals, as opposed to business owners. Maximum loan amounts are in the region of R50 000, with repayment periods of up to seven years. Minimum loans start at R1 000 and there is no need to provide any security.

Personal loans are available to South African citizens who are at least 18 years of age and who earn a minimum of R2 000 monthly. They must also not be under any form of debt review.

Quick online personal cash loansHow to Find out More about Online cash Loans

The simplest way to approach this option is to do an online web search. Type “online cash loans” into the browser and an array of different companies and their products will come up. These web pages give the viewer all relevant details, enabling them to make an educated and informed decision.

Here are a Few examples:

Company No. 1

You have no need to disclose the reason for the loan. You may need the funds to renovate your home, purchase a vehicle, repay another debt or anything else of your choosing.

Repayment is over a three-to-six-year period, with a 27.75% interest rate over 7 to 72 month period.

Example of repayment costs: 

  • Loan amount: R50 000
  • Repayment period: five years
  • Monthly installment: R1 655
  • Total repayment: R99 285

Company No. 2

There are two types of personal loans available. Loan-seekers can apply for what is termed a “maximum affordable loan” based on the largest amount available relative to monthly earnings.

The other is called a “specific affordable loan” which enables customers to apply for a specific amount of cash. Rates of interest range from 36% to 60%, depending on the amount loaned and the repayment period.

Example of repayment costs

  • Loan amount: R2 500
  • Repayment period: three months
  • Monthly installment: R1 148.49
  • Total repayment: R3 445.46

Quick online Personal cash Loans

Company No. 3

This is a cash loan service provider. In other words, they undertake to find the client the best cash loan deal by negotiating directly with various finance houses.

They charge up to 112% annually, depending on the loan amount and repayment period. Loans can be obtained for a minimum of 65 days and a maximum period of four months.

Example of repayment costs

  • Loan amount: R5 000
  • Repayment period: 65 days
  • Monthly installment: R2 860
  • Total repayment: R5 720

Company No. 4

This company offers borrowers short-term loans from R100 a day to R8 000 a month. The degree of flexibility allows the borrower to remain in control of personal finances, discouraging clients from applying for more money than is actually required.

They charge an annual interest rate of between 36% and 60% and short-term loans are repayable between 61 to 180 days.

Example of Fee and Interest Breakdown

  • Service fee: R50 a month plus 14% VAT
  • Initiation fee: 15% on the first R1 000 PLUS 10% of any value exceeding R1 000 to a maximum of R1 000 PLUS 14% VAT

What is a Payday Loan?

Another very popular form of borrowing cash is called a Payday Loan. This form of finance is offered by a number of companies and helps breadwinners to meet cash shortfalls until their next payday. Cash is advanced against salary cheques and must be repaid within 45 days.

How to Apply for Quick online Personal cash loans

Step 1.

Visit the company of choice online and read all the information.

Step 2.

Complete the online application form. This is secured with encryption codes, ensuring privacy from prying eyes. Information required is ID numbers, monthly income and expenditure, employment and bank details.

Applicants are informed within a very short space of time as to whether or not the loan has been approved.

Step 3.

Once approval is received, applicants will need to verify their income by providing the finance house for three recent payslips or bank statements. This must show personal details, such as name and address.

Step 4.

Once approved, the money is transferred into the applicant’s bank account. Repayments are made via bank accounts, so applicants must ensure that they have sufficient funds to meet these monthly payments on due date.

Failure to Stick to the Deal

Borrowing quick cash online may be relatively easy, but failing to stick to the terms and conditions of the deal could have serious consequences.

Failing to have sufficient funds in a bank account to meet the monthly repayment commitments will lead to additional costs such as from the bank for having insufficient funds or from the lender who could impose crippling additional interest rates.

If a borrower continues to ignore repayment demands, he/she will be blacklisted on credit bureaus and subjected to legal procedures. It is always advisable to contact the lending company in the event of changed personal circumstances.

Most lenders will try their utmost to assist, by extending the loan repayment period or changing the repayment date, rather than reverting to extreme measures. So, if in doubt about the ability to repay the loan, do not apply for one in the first place.

Quick online personal cash loans – Conclusion

Before applying for a quick cash loan, draw up a personal budget to ascertain whether or not the monthly repayments are affordable.

Understanding the terms and conditions of the contract is imperative. Always ensure that the lender is registered in terms of the National Credit Act.

Building a solid credit rating should be the number one priority. By consistently meeting repayment obligations, the borrower will improve his/her credit rating and increase chances of obtaining further credit, such as an all-important home loan.

Next Step: To get a quick loan just fill in the form on this page and then submit it.

All info was correct at time of publishing