When you’re desperate for cash or you have an emergency, a loan is the next best option. But without the necessary paperwork or a clean credit profile, it will be a real challenge to get credit with mainstream lenders. In that case, you might be tempted to go for loans without affordability checks. But it is not good solution. Why? Check below…
As per the National Credit Act, all lenders are supposed to run an affordability check on borrowers. The NCA has put the affordability assessment in place to regulate irresponsible lending. According to the law, the lending company must establish you’re capable of paying back the loan before entering into any credit agreement. Any lending institution that provides loans to consumers without running affordability checks is doing so illegally. More so, these lending companies are preying on consumers, by charging them exorbitantly for the loans.
Instead of taking financial risks with loans without affordability checks, explore loans for bad credit. In most cases, there are no credit checks with these loans, meaning the lending companies don’t do comprehensive credit checks. Lenders will look at your monthly income to calculate your affordability.
Personal loans for people with bad credit 2023

Borrow transparently with flexible loans
Loan amounts: R300 to R5,400
Est. APR: 30 – 40%
Term: 5 days to 37 days
Approval: same day payout
Reliable loan provider

Unsecured Bad Credit Loans and Blacklisted loans
Loan amounts up to R250,000
Est APR: 14 – 32% p.a.
Loan term: 3 months to 60 months
48 hours maximum time approval
Fast application online

Simple, Fast, Reliable
Loans Made Easy
Loan amounts: R1,000 and R100,000
Est. APR: Unspecified.
Term: 1-72 months
Apply within 15 minutes.
Approval: Within 24 hours.

Personal, Long Term, Payday & Blacklisted Loans
Loan amount: R1,000 up to R200,000
Est. APR: 28% p.a.
Term: 3 months – 60 months
Get approved for the loan within 24 – 48 hours
Fast application online

Personal Loans for South Africa Residents
Loan amounts: R2,000 up to R150,000
Est. APR: starts from 28% p.a.
Term: 12 months, up to 72 months
Easy online application. Apply within minutes.
Fast turnaround approval: Within one day.

Fast approval when you apply online
Loan Amounts: R1000 up to R120,000
Est. APR: 28% APR
Term: 12 and 84 months
Fast application online – within 5 minutes
Fast turn-around time – within a few hours

Blacklisted Personal Loan
Loan amounts up to R250,000
Est APR: unspecified
Loan term: unspecified
Get approved within a few hours
Fast application online
Two things lenders look at when reviewing your loan application
Before lending institutions loan you money, they must look at your creditworthiness or affordability.
Creditworthiness
Creditworthiness is where a lender reviews your credit history to gauge your likelihood of defaulting on the debt. To do this, the moneylender looks at your past repayment history, your credit report, plus your credit scores.
Your credit reports highlight your floating debt, credit limit, payment history, the types of credit accounts, and existing balance on your accounts. If you have missed a payment on debt in the past, your account has been listed with collection agencies, or you’ve been written off as bankrupt – it will show in your credit report. Some lenders leverage your credit report to decide if to loan you money, and
Your Credit Scores is another factor that South African lenders leverage when loaning money to consumers. The credit scores help to gauge your creditworthiness. If you have a score above 750+, lenders consider you a responsible borrower. Conversely, if you’re on the other end of the spectrum, say below 300, you’re a high-risk borrower in the lenders’ eyes.
While creditworthiness is a factor when loaning money, some lending institutions don’t always rely on this approach to sign you up for their financial packages. Some lenders, particularly those targeting bad credit consumers, simply run an affordability assessment.
Affordability assessment
An affordability assessment is where the lender reviews alternative data aside from your credit reports to establish if you’re capable of keeping up with the loan’s minimum monthly payments. Lenders review information like:
- If you have a stable job.
- Your income level.
- Your existing household expenses.
- Any other credit commitments.
- If you have a working bank account.
Lenders will determine your current financial obligations by reviewing your gross monthly income. By calculating your disposable income, lenders can evaluate if you’ll meet the financial obligations towards the debt.
Also, for cases where lenders only do affordability assessment, there are no credit checks for these loans.
Why Avoid Loans without Affordability Checks
By not performing an affordability check, a lender is extending to you a loan irresponsibly. The lender you could loan you more money than you’re incapable of paying back. You risk plunging more into debt by borrowing without knowing your repayment capacity. It’s better to forgo that loan than to become over-indebted. Before you submit that application, review your income and current household expenses – assess if you can afford the loan, given your financial situation.
Other Alternatives to Loans Without Affordability Checks
You can avoid running into more debt by keeping off financial products without affordability checks. Lucky for you, there are other options to explore when you have bad credit or a thin credit history.
If you have bad credit and you’re in need of a loan, a splendid alternative is to go for no credit checks loans, otherwise known low-credit scores loans. Another name that highlights these loans is bad credit loans.
No credit check loans are a category of loans lenders award without doing a broad review of a borrower’s credit history. In cases where the lender performs a comprehensive review, it’s referred to as a “Hard” credit check. Hard credit scores leave negative remarks on one’s credit report.
In contrast, there is the “soft” credit score, which lenders often undertake when evaluating pre-approval loan offers for different customers. Soft credit scores do not carry negative remarks. The superb thing with no credit loan/low-credit score loans is that bad credit consumers are welcome to apply. Affordability is based on one’s income level and not their past credit history.
Two types of loans with no Credit checks
If you have a tainted credit history of unpaid payments and defaulted debts, some loan solutions are out of the questions, but you have options.
Short-term payday loans and personal loans are some of the unsecured types of loans you can explore.
Short-term payday loans with no credit checks
Short-term payday loans have a repayment period of up to 30 days. Some payday loans might come with a longer repayment period – up to 6 months, at most 1 year. The loan amounts are small, ranging from R500 – R10,000, depending on your income level. Payday loans are paid out within the same day or the next after application.
While there are no credit checks with these loans, you could pay premium interests rates. Also, the loan could come with additional costs like application fees or service fee. Let’s say you borrow R2,665 from Wonga Loans. You would pay it back with an interest rate of R679.69, in total R3,344.69.
You get to enjoy a few benefits with payday loans with no credit checks. Top of the list is you can apply for these loans even with an impaired credit score, they have minimal requirements, and verification takes fast.
Personal loans with no credit checks
Instead of loans without affordability checks, another option is personal loans with no credit checks. With this option, you could borrow amounts ranging from R1,000 to R100,000. And if you have good credit, you could be eligible for up to R300,000 with some unsecured lenders.
These loans can be short-term or long-term. Short-term personal loans for bad credit have a repayment period of up to 5 years while long-term personal loans could have a repayment period of up to 10 years.
The approval process is quick with wait times of several hours – up to 48 hours. Also worth noting is that interest rates and fees for these loans can be steep. Without a credit check, a lender is taking a huge risk by loaning you money.
To apply for personal loans for bad credit with no credit check, you only need to ensure you have the following:
- You’re self employed and your income is paid through the bank.
- You are a South African citizen.
- You have proof of address documents.
- You have the latest bank statements and payslips.
N/B: Some low-credit score loans require no documents or paperwork. You apply directly through the lender’s website or app. The lender will take the initiative to confirm relevant data through other means like online banking services.
Tips on how to compare and choose the perfect loans with no credit check
You’ve got everything lending companies want to advance money to you. Now all that you have to do is go through different loan offers and compare the various features. Some of the things you’ll think about include:
Loan amount
Consider how much you want to borrow. While the figure you need to borrow will all boil down to your financial situation, decide which type of loan most suits your circumstances. If you’re looking for small amounts to meet house expenses, you could consider a short-term personal. If that’s not an option, review your options for payday loans without credit checks. You also have one last option to explore – long-term personal loans. But the options here are limited. ·
Repayment term
As you think about the amount you want to borrow, take into consideration the loan repayment term. Again, you could pick either a short-term repayment plan or go for a lengthy repayment schedule. Each has its upside and downside. A stretched repayment plan offers lower monthly payments, plus won’t feel pressured to repay the loan. On the flipside, many loans with a stretched timeline come at a premium cost since you could end up paying higher interest rates. Then, it will take you longer to free yourself from debt obligations.
Annual Interest rates
The APR is another aspect to look at when comparing loan options. Your choice of a loan could influence the APR you get with any loan product. Payday loans are popular for charging inflationary fees. Should you go for a payday loan, bear this in mind. Still, you might get friendly lending rates if you earn a decent income or you have a superb credit standing. The same goes for personal loans with no credit checks or personal loans that require no documents. Interest rate charges on these loans can be expensive because the moneylender is taking a significant risk by lending you money without gauging your creditworthiness.
Additional fee
Watch out for loan fees applicable on every loan. The loan agreement will outline all fees and charges involved. Such fees could include a one-time application fee, late payment fee, and insurance fee. Be sure to go through the loan fee schedule in detail to get an accurate figure of the charges payable.
Are there minimum salary requirements?
For some lenders who won’t ask for credit checks, they’ll require you meet a set income threshold. The specified amount can be at least R2,000 and R3000.
Opening hours
Some lending companies operate only on weekdays, from 8 a.m – 5 p.m. If you apply during other time slots, you might have to wait. Even so, there are lending institutions that operate even on weekends – so you can apply for a loan, all around the clock.
Documents needed
Some loans that require no credit check ask for no paperwork. Meaning with a valid bank account and stable income, some lenders have no problem with disbursing a loan to you. Still, with some options, your application is invalid without documents like payslips, proof address documents, and bank statements.
Payday Loans for bad credit with no credit check
Before you take out a payday loan with no credit checks, see to it that you have at least exhausted all other financial options. That’s because payday loans can be predatory, keeping you trapped in a debt cycle. Scroll all the way down to read on alternative sources money to exorbitant payday loans.
But if you’re in an emergency, you need quick cash online and you are certain of repaying the loan on your next payday, you could try your luck with the following payday loans for bad credit options.
N/B: Some payday loan products for bad credit might come with a credit check.

Borrow transparently with flexible loans
Loan amounts: R300 to R5,400
Est. APR: 30 – 40%
Term: 5 days to 37 days
Approval: same day payout
Reliable loan provider

Apply For A Personal Loan Today
Loan amount up to R,8000
Est. APR: 32.1% p/a
Term: 2 months to 6 months
Quick, easy application.
Get approved within 48 hours.

One month and short term loan
Short-term loans up to R,8000
Est. APR: up to 150%
Term: up to 6 months
Fast and convenient application.
Get your loan from within an hour a day.

Quick and easy short term loans
Loan amount up to R,4000
Est. APR: up to 38% p.a.
Term: 24 hours – up to 30 days
Easy application process online.
Get approved within the same day of application.

Unsecured Bad Credit Loans and Blacklisted loans
Loan amounts up to R250,000
Est APR: 14 – 32% p.a.
Loan term: 3 months to 60 months
48 hours maximum time approval
Fast application online

Simple, Fast, Reliable
Loans Made Easy
Loan amounts: R1,000 and R100,000
Est. APR: Unspecified.
Term: 1-72 months
Apply within 15 minutes.
Approval: Within 24 hours.

Personal, Long Term, Payday & Blacklisted Loans
Loan amount: R1,000 up to R200,000
Est. APR: 28% p.a.
Term: 3 months – 60 months
Get approved for the loan within 24 – 48 hours
Fast application online

Personal Loans for South Africa Residents
Loan amounts: R2,000 up to R150,000
Est. APR: starts from 28% p.a.
Term: 12 months, up to 72 months
Easy online application. Apply within minutes.
Fast turnaround approval: Within one day.

Fast approval when you apply online
Loan Amounts: R1000 up to R120,000
Est. APR: 28% APR
Term: 12 and 84 months
Fast application online – within 5 minutes
Fast turn-around time – within a few hours

Secure your loan in the BLINK of an eye!
Loan amount up to R,4000
Est. APR: unspecified
Term: up to 30 days
Approval: Same day payouts
Blink Finance is a registered credit provider

From our family to yours.
Loan amounts: R200- R8,000
Est. APR: 36 – 60%
Term: 61 – 180 days
Approval: Unspecified
Atlas Finance is a registered credit provider
Alternatives Places To Borrow Money if you’re in bad Credit
- Credit unions
- Family and friends.
- Peer-to-peer lenders.