Find the Best Personal Loans in South Africa

Most NCR-registered lenders offer personal loans from R500 to R15,000. Some lenders may have different minimums (typically R1,000 or R2,000), while others offer up to R50,000 for established customers with good credit. The National Credit Act doesn't set a minimum loan amount, but requires all lenders to conduct affordability assessments regardless of loan size.

Yes, 100% of lenders featured on Credizen are registered with the National Credit Regulator (NCR). We verify each lender's NCR registration status before listing them on our platform. You can check any lender's registration on the official NCR website (www.ncr.org.za). Working with NCR-registered lenders ensures you're protected under the National Credit Act 34 of 2005.

Approval times vary by lender and application complexity. Online lenders typically provide instant approval decisions in 15 minutes to 1 hour during business hours. Traditional banks may take 24-48 hours or longer. Once approved, same-day payout is common if you apply before 2 PM on a business day. Weekend applications are processed on Monday. Complex applications requiring manual verification may take 2-3 business days.

Yes, several NCR-registered lenders specialise in loans for people with impaired credit records. However, expect higher interest rates (40-60% APR vs 20-35% for good credit) and lower loan amounts (typically R500-R5,000 initially). Lenders will still conduct affordability assessments as required by law. If you're under debt review, options are limited. Consider improving your credit score first by paying bills on time and disputing errors on your credit report.

Standard requirements include: (1) South African ID book or smart ID card, (2) Proof of income (3 months' bank statements, payslips, or SARS ITC), (3) Proof of residence (utility bill less than 3 months old), and (4) Active South African bank account. Some lenders may also require proof of employment or pension proof for retirees. Self-employed applicants need business bank statements and tax returns. All lenders conduct credit bureau checks as required by the NCA.

Personal loan interest rates range from 24% to 60% APR, depending on your credit profile and loan term. Good credit (credit score 670+) qualifies for 20-32% APR. Average credit (580-669) sees 32-45% APR. Poor credit (<580) faces 45-60% APR. The National Credit Act regulates maximum interest rates: prime + 20% for secured loans, prime + 22% for unsecured loans. Representative example: R5,000 borrowed over 12 months at 30% APR = R478/month = R5,736 total repayment.

No, comparing loans on Credizen does NOT affect your credit score. We use soft credit inquiries that don't appear on your credit report to other lenders. Only when you apply directly with a chosen lender will a hard credit inquiry be recorded. Under the National Credit Act, multiple credit inquiries within 30 days for the same purpose count as a single inquiry, minimizing credit score impact.

Yes, applying online is safe when using reputable platforms like Credizen. We use bank-grade 256-bit SSL encryption to protect your data. All lenders comply with the Protection of Personal Information Act (POPIA). Look for HTTPS in the browser, never share OTPs or PINs with lenders, and avoid unsolicited loan offers. Beware of scams: legitimate lenders never ask for upfront fees or payment via gift cards. Always verify NCR registration before applying.

Contact your lender immediately if facing repayment difficulties. Most offer hardship programs: payment holidays, extended terms, or reduced payments. Non-payment leads to: (1) Late fees (NCR-capped), (2) Negative credit bureau reporting, (3) Possible legal action. Consider free NCR-registered debt counselling (debt review) if struggling with multiple debts - it protects you from legal action while restructuring payments. Visit www.ncr.org.za for approved debt counsellors. Never ignore the problem or take a new loan to repay an old one.

Yes, but options are limited. Requirements include: (1) Valid work permit or permanent residence permit, (2) South African bank account (minimum 6 months active), (3) Proof of SA income (payslips/bank statements), and (4) Proof of SA residence. Most mainstream lenders require permanent residence. Loan amounts are typically lower (R1,000-R10,000) with higher interest rates. Some lenders may require a South African citizen co-signer. Tourist visas and student visas generally don't qualify for personal loans.