Reviews

Personal Loans

Reviews of personal loans from South African banks and credit providers registered with the NCR. Compare interest rates, repayment terms and eligibility requirements. A personal online loan lets you apply, get a credit decision and receive funds wit

Found 10 reviews

DirectAxis offers a range of loans to suit your financial needs. Whether you need a personal loan, a consolidation loan, or a vehicle finance option, DirectAxis has you covered. With competitive inter…

  • ✅ DirectAxis offers competitive interest rates on their loans, making it more affordable for customers to borrow money.
  • ✅ Their loan application process is quick and easy, with most applications being approved within 48 hours.
4.0
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LoanFinder offers a variety of loans to suit your financial needs, whether you’re looking for a personal loan, business loan, or debt consolidation loan. With competitive interest rates and flex…

  • Comparison platform providing access to multiple loan providers in one place
  • Quick and simple online application without visiting a branch
4.0
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RCS loans are a popular choice for South Africans looking for financial assistance. These loans offer competitive interest rates and flexible repayment terms, making them a convenient option for those…

  • Personal and retail credit products available through a widely recognised brand
  • Online application with quick decision and flexible repayment options
4.0
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Bayport Financial Services offers a variety of loan products to meet the financial needs of South Africans. Their loans are tailored to individual circumstances and can be used for various purposes su…

  • Diverse loan products including personal loans, debt consolidation, and education finance
  • Flexible repayment terms tailored to individual financial circumstances
4.0
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Sanlam loans offer flexible and affordable financing options to meet your personal and business needs. With competitive interest rates and easy application processes, Sanlam makes it simple to access …

  • ✅ The application process for Sanlam loans is quick and easy, with minimal paperwork required.
  • ✅ With Sanlam loans, borrowers can access funds quickly, helping them to address their financial needs promptly.
4.0
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Old Mutual loans are a popular choice for South Africans looking for financial assistance. With competitive interest rates and flexible repayment terms, Old Mutual offers a range of loan options to su…

  • ✅ Old Mutual offers competitive interest rates on their loans, making them an affordable option for customers.
  • ✅ Their loan application process is quick and easy, allowing customers to access funds when they need them most.
4.0
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African Bank offers a variety of loan options to meet the financial needs of individuals and businesses in South Africa. These loans include personal loans, business loans, and vehicle finance, with c…

  • Full-service bank offering personal loans, vehicle finance, and credit cards
  • Online application with a quick approval process
4.0
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Capitec Bank offers a variety of loan options to suit your needs, including personal loans, home loans, and vehicle finance. With competitive interest rates and flexible repayment terms, Capitec Bank …

  • ✅ Capitec Bank offers competitive interest rates on their loans, making it affordable for customers to borrow money.
  • ✅ The application process for Capitec Bank loans is quick and easy, with minimal paperwork required.
4.0
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Nedbank offers a variety of loan options to suit your financial needs, including personal loans, home loans, vehicle finance, and student loans. With competitive interest rates and flexible repayment …

  • ✅Flexible repayment options tailored to your financial situation
  • ✅Competitive interest rates to save you money in the long run
4.0
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Absa offers a variety of loan products to meet the financial needs of individuals and businesses in South Africa. From personal loans to home loans and vehicle finance, Absa provides flexible repaymen…

  • ✅Low interest rates
  • ✅Flexible repayment terms
4.0
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Guide: Personal Loans

Reviews of personal loans from South African banks and credit providers registered with the NCR. Compare interest rates, repayment terms and eligibility requirements.

A personal online loan lets you apply, get a credit decision and receive funds without visiting a branch. In South Africa, any legitimate lender offering personal loans must be registered with the National Credit Regulator (NCR) and is required to run an affordability assessment before approving your loan, as set out in the National Credit Act (NCA).

What you will usually need to apply: a South African ID number, proof of income (payslip or bank statements), proof of residence, and an active bank account for payout and debit orders.

What affects your offer: lenders check your credit history with a credit bureau (such as TransUnion, Experian or Compuscan) and your monthly affordability — income minus existing debit orders and expenses. A lower credit score or high existing debt usually means a smaller loan amount or a higher interest rate, which is itself capped under the National Credit Act's maximum rate regulations (linked to the repo rate).

The NCA's "in duplum" rule caps the total interest that can accrue on a defaulted debt at 100% of the outstanding capital at the time of default, which limits how large an unpaid balance can legally grow. Many personal loans also include optional or compulsory credit life insurance, which settles the balance if you die, are retrenched or become disabled — check whether this is already included in your quoted instalment.

If you are struggling to keep up with repayments across several loans, you have the right under the NCA to apply for debt review through a registered debt counsellor, who can negotiate reduced instalments with your creditors — this is a formal, regulated process, not the same as simply missing payments.

Compare the total repayment amount — not just the monthly instalment — across lenders, since loan terms and initiation or service fees vary and materially change what the loan actually costs you over its full term.

FAQ about Personal Loans

Not necessarily — NCR-registered lenders must assess real affordability based on your income and expenses, not just your credit score, though a lower score or high existing debt usually means a smaller approved amount or a higher rate within the regulated maximum.
The National Credit Act sets maximum rates linked to the repo rate and tiered by credit agreement type and size. An NCR-registered lender cannot legally exceed this cap, and must disclose the total cost of credit before you sign.
Yes — the National Credit Act gives consumers the right to settle a credit agreement early at any time, and lenders must provide a settlement figure on request, which should be lower than continuing the full remaining term.

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