A personal loan is unsecured credit repaid in fixed monthly instalments, usually over 12 months or more. Nothing is pledged against it, which is why the rate is higher than a bond and lower than a payday advance.
Rates and terms
Across the providers on our panel, APR runs from 12% to 36%, and terms vary by lender from 15 days up to 72 months. Where you land depends on the provider's assessment of your affordability and credit record, not on the amount you ask for.
Representative example
R30 000 over 24 months at 24% APR costs R1 586.05 a month, and R38 065.20 in total. That is an illustration — it excludes the initiation and monthly service fees each provider sets, which are disclosed in your agreement before you sign.
What improves your offer
- Reducing existing commitments before you apply — affordability is assessed on what is left, not what you earn.
- A clean recent payment record. Payment history carries more weight than anything else.
- Applying once rather than repeatedly. A cluster of applications reads as distress.