Xcelsior

Pay your interest and fees to extend your loan term or pay in full to receive your vehicle in the same condition as we received it.

Interest Rate (p.a.)

Loan Tenure

Pay your interest and fees to extend your loan term or pay in full to receive your vehicle in the same condition as we received it.
Сalculated individually

Finchoice

Our interest rates are regulated by the National Credit Act (NCA). Please refer to the terms and conditions of your loan agreement for more details.

Interest Rate (p.a.)

Loan Tenure

Our interest rates are regulated by the National Credit Act (NCA). Please refer to the terms and conditions of your loan agreement for more details.
Сalculated individually

Finance 27

Depends on the loan amount and your credit history.

Interest Rate (p.a.)

Loan Tenure

Depends on the loan amount and your credit history.
14 days. Can be variable.

Boodle

Interest Rate: 0.17% per day. Annual Interest Rate (APR): 60%.

Interest Rate (p.a.)

Loan Tenure

Interest Rate: 0.17% per day. Annual Interest Rate (APR): 60%.
Up to 32 days

There are however short term loan providers who are flexible, fast and operate on online platforms.  The application process can be completed in as little as 30 minutes and a response will come to you within a couple of hours.  These quick short term loans use technology to do a credit check on you quickly based on information that one enters on their site.  Even if you are blacklisted your application can still be approved. Short term loans can be rapid in any period ranging from 2 to 12 months depending on the needs of the client.

Short term loans vs Payday loans

Short Term Loans — Borrow Cash Online

A new concept that has taken off very well in the last few years in the South Africa short term loans environment is the concept of Payday loans as they are popularly known overseas.

  • Payday loans are a form of a short term loan.

While short term loans can be repaid over 2 to 12 months, payday loans are repaid back before the next payday of the borrower.  Payday loans are usually borrowed over a maximum of 40 days and the amount borrowed plus interest and fees is repaid to the lender all at once.

Sometimes a borrower will take a payday loan a couple of days before their payday.

This will mean that the repayment date will be put at the next pay date due to the time it may take to set up a debit order with the borrower’s bank.

Why get a short term loan

Short term loans allow you the financial freedom to meet your financial goals and obligations on time without resorting to borrowing from friends and family.

You can be sure that the platforms that you apply for short term loans from in South Africa are secure especially if you use the below 4 loan providers.  Internet reviews on the customers are mainly excellent.

How to find a short term loan

Whenever you are in need of a short term loan in South Africa, there are a lot of providers and brokers that are available on the internet.  The best short term loan providers in South Africa are just a click away. These are four short term loan providers you can apply for short term loans from, in South Africa.

  • Finance 27

loans will lend an amount of between R 500 and R 4,000 to new customers and the amount must be repaid before the next pay day making this a payday loan.

Applying for a Finance 27 loan is easy.

You just need to be a South African citizen with an ID number, you must have an operating South African bank account, be 18 years of age or more and be employed with a monthly income.

Once all your information is submitted online, you will get a response within a few hours from Finance 27 loans once all the necessary credit checks have been done.  Being blacklisted does not stop you from getting a loan with Finance 27 loans.

  • Xcelsior

Online Short Term Loans — CashPaydayGo

loan is an asset based short term lender.

Depending on the value of your asset, Xcelsior does not place a limit on the amount of money one can borrow from them.  On their website, one just needs to fill in the required details and an agent from Xcelsior will call you back to ascertain the amount you can borrow against your asset.

In order to make an application to Xcelsior one just needs to be the owner of the asset and be over 18 years of age.  There are no credit checks that are done when applying for this loan hence the loan will be approved even if you are blacklisted.

  • Boodle

loans is a short term loan provider that provides short term loans of up to R 2,500 for first time customers repayable by the customer’s next pay day.  For their established customers, they can provide loans of up to R 8,000 with a repayment period of between 1 and 3 months.

You only need to be a South African citizen over the age of 18 years who is employed and has a South African back account to qualify for the loan.  While credit checks are carried out, even if you are blacklisted, you can still be accepted for the short term loan.

  • Finchoice

loans is a short term loan provider that offers three different kinds of short term loans to South African consumers.

There is the Kwikadvance loan which allows customers to borrow up to R 3,500 to be repaid on their next payday.

Then there is the flexiloan which allows customers to borrow up to R 8,000.00 to be repaid over up to 6 months for first time borrows, which can be increased to R 40,000 over 12 months for existing customers.  The loans can be extended past the 12 month repayment period but then they are no longer short term loans.

Lastly, there is the Finchoice Mobi money which allows the customer to draw from a facility of up to R 10,000 depending on their affordability and credit checks.  This can be used as and when required and must be repaid within 3 months from the date of use of the funds.

How Short term loans help you

Short term loans are mainly used to bridge the financial gap when there is a need for cash quickly.  You are able to get a quick cash injection in the shortest time frame. Although you do pay interest and loan fees this is outweighed by the fact that you are able to meet your financial obligations on time.