How to Apply

When you’ve chosen a financial service, you can apply online, via phone call, or in person. This is very easy, as all you need to do is provide some information and documents. These include:

  • First and last name;
  • RSA Identity number;
  • Cellphone number; and
  • Gross monthly income.
  • A copy of your ID;
  • Copies of your last 3 payslips or bank statements; and
  • Bank account details.

The creditor will give you an estimate for how much you need to pay every month based on the present value, loan term, and interest rate. That estimate will help you decide whether you can afford the loan.

Where to Apply?

Here are 4 of personal loans South Africa. We used a representative loan of R7,500 for 24 months to help you compare the different financial services. You can compare personal loans South Africa below:


Est. Interest Rate*

Loan Amount

Loan Term

Application Fee**

Monthly Service Fee**

Izwe Loans

15% – $27.5%

Up to R250,000

12 – 60 months




10.25% – $27.5%

R2,000 – R250,000

6 – 72 months



Old Mutual

23% – 27.50%

R2,000 – R200,000

6 – 84 months




21.9% – 27.5%

R5,000 – R200,000

24 – 72 months

Not available


*Interest rate is different to APR (Annual Percentage Rate).

*Application and Monthly Service Fees vary depending on loan amount.

All personal loans in South Africa are subject to the National Credit Act (NCA), No 34 of 2005. The act puts the maximum interest rate at 27.5% for all loans.

How Personal Loans Online Can Help You

Personal loans can help you in many different ways:

  1. You can use your personal loan for debt consolidation.
  2. A personal loan can help you pay for large or emergency medical expenses.
  3. You can use a personal loan to pay for repairs or renovations in your home.
  4. You can also use a personal loan to pay for things like an engagement ring, wedding, or holiday.