Payday Loans - Cash Loans

A payday loan is a short term loan that is best used to cover urgent financial expenses like paying a bill, paying for repairs to your home or car or you might just need some extra cash before your pay check comes through. Whatever the reason, an application can be competed in minutes because they are designed to be a fast and easy way to get a cash advance, often on the sameday. These types of loans are paid back in full plus interest on your next payday and are not the answer to any long term financial difficulties. You can be eligible for a payday loan even with a poor credit history although the exact amount you can borrow might depend on your credit score. With payday loans becoming such a popular financial product there are many loan providers out there.

If you wish to speak to someone: Contact Us

COMPANYTYPE

TYPE

Lender / Broker

APR

APR

The term annual percentage rate describes the interest rate for a whole year (annualized), rather than just a monthly fee/rate

LOAN AMOUNT

LOAN AMOUNT

Amount you can borrow

MIN TERM

MIN TERM

Minimum borrowing period

MAX TERM

MAX TERM

Maximum borrowing period

ID REQUIRED

ID REQUIRED

Identification required to apply

SUITABLE

SUITABLE

Applicants the loan is suitable for

TERMS

TERMS

Terms and conditions of loan

RESTRICTIONS

RESTRICTIONS

Restrictions regarding potential borrowers

MORE INFO

Wonga
Wonga

Lender60% per annum; 5% per month or 0.164% per dayR100 - R20001 day30 daysIdentification

Identification

South African ID Number; cell phone (to receive a PIN)

Suitable For

Suitable

For those seeking a short term financial solution to a short term cashflow problem

Terms

Terms

South African ID number,over 18 years, employed and a bank account in your name

Restrictions

Restrictions

You must be employed and have a South African ID number in order to qualify. You must be over 18 years old and have a bank account in your name

Wonga
Applying for a Wonga loan could not be simpler. There’s no laborious paperwork to be done, documents to fax, or wating around in a telephone queue, because our unique service is 100% online from start to finish. Just use the sliders on the home page to work out how much money you need to borrow and for how long. You will know the full cost straight away and once you're happy with the terms, just click “apply”. Please make sure that you read the terms and conditions thoroughly to ensure that you fully understand your financial obligations DETAIL INFORMATION >>Services

Services

Short term credit provider


Advantages

Advantages

1. Quick and easy application
2. Instant decision 24/7
3. No hidden charges


Disadvantages

Disadvantages

1. Our service has an annual interest rate of 60%, in line with the regulations set out in the NCA, But remember a Wonga loan is only for between one day and a month – so actually you’re paying just 0.164% interest a day 

2. Wonga.com doesn’t believe in hitting you with ongoing and multiple charges, like most traditional lenders, but interest and service fees will continue to mount on your balance if you do not repay your loan on your chosen date. You can repay your loan early though, and you might even be able to save some money that way.. 
3. The Service fee we charge is R50 per month plus 14% VAT, as prescribed by the NCA

Get Bucks
Get Bucks

Lender5% per monthR500-R40007 days45 daysIdentification

Identification

Initially South African ID number, employment and residential details.

Suitable For

Suitable

For South African residents with all credit backgrounds looking for a solution to a short term cash flow problem

Terms

Terms

You must have a Bank Account and be a South African resident

Restrictions

Restrictions

You must have a Bank Account and be a South African resident

Get Bucks
Get Bucks, Advance Your Payday Now. Get Bucks is a South African registered lender, with one twist - it’s online and it’s fast. When we say it’s all done in an hour, it includes the cash in your account*. We are not about giving you money to buy a house, a boat or even the latest flat screen TV. We're about instant cash to sort out life's little issues. There are no hidden costs! DETAIL INFORMATION >>Services

Services

Payday Loan Lender 


Loan example: Borrow R500 for 7 days, charges= R198.65, Total Repayment= R698.65


Advantages

Advantages

1. Borrow any amount between R500-R4000 

2. Pick how many days you want to borrow the money for, with a maximum term of 45 days. 
3. Once you are happy with everything, complete the rest of the application steps that should not take more than 10 minutes 
4. Get answers quick, usually within the hour 
5. Loans Paid out under 60 minutes!
6. Money debited out of your account on the day you have chosen, making the process a simple one. 
7. Want more answers? Make use of their helpful website with Sype Calls and live chat 8. The loan and all fees, costs and charges are reflected upon application. What you see, is what you get.


Disadvantages

Disadvantages

1. There is an initiation charge for each loan to cover the service delivery promise of being effective and fast 

2. Furthermore, there is an interest rate of 5% per month that is levied against the initial loan amount and fees. 
3. Also included in the repayment is a daily admin rate and collection fee.

SA Payday Loans
SA Payday Loans

BrokerVariesR500 – R15000VariesVariesIdentification

Identification

Initially residential and financial details

Suitable For

Suitable

For individuals looking for a fast cash loan of up to R15000

Terms

Terms

See website for details

Restrictions

Restrictions

Not available if you are self employed

SA Payday Loans
You need a quick and easy loan? Then SA Payday Loans are the right people for you as they will do all the work for you to find the loan which suits you best. The application is easy and you will get an answer on the same day. Benefit from easy repayments, fair conditions, and excellent service and apply now! DETAIL INFORMATION >>Services

Services

Loan Broker


Advantages

Advantages

1.Discreet – no one has to know you applied
2.Same day approval
3.Easy online application


Disadvantages

Disadvantages

Not much information provideid before application

If you wish to speak to someone: Contact Us

Compare Payday Loans and Cash Loans

Payday loans have been heavily criticised but can a payday loan ever be the right solution?

The truth about Payday Loans

Payday loans are everywhere these days and the industry is booming but what is a payday loans?

Payday loans are small loans where no credit checks are required. This means that whatever your financial history you are likely to be approved. Payday loans have short terms and must be paid back quickly, usually on your next payday, hence the name.

Payday loans are a fast way of getting emergency money. You can apply, get approved and have the money in your account often on the sameday. Some lenders can even get the money to you in as little as 15 minutes! They are designed to help you cover your expenses until your next paycheque.

Why are Payday Loans so popular?

An increasing amount of people are turning to payday loans to help them make ends meet. Payday loans can help you cover an unforeseen expense such as household bills, home repairs and buying essentials like petrol, food and travel.

With no credit checks the loans are very accessible. The only requirements are usually that you are over 18 and have a South African bank account. The application process is easy and fast and can take only a few minutes to complete. You can get the money you want from the comfort of your own home either online or with some companies via text.

Are Payday Loans as bad as they say?

Payday loans can be very costly and are a more expensive than other methods of borrowing. This is because the interest rates are very high as these are unsecured loans which can be given to people with bad credit ratings. However, they are designed for short term borrowing so if you do decide to take one out you need to be responsible and pay back the amount plus the interest as soon as possible.

If you miss payments you can quickly fall into a debt problem. This is because the fees and charges that come with late payments can be expensive and can easily accumulate. Not only can you fall into debt but you also risk damaging your credit score which will be used against you.

Remember that payday loans are for short term borrowing and should never be used to solve any long term financial difficulties you might have.

Is a Payday Loan right for you?

Payday loans can be a good solution for quickly and easily borrowing cash during an emergency if you don’t have other financial options such as credit cards or savings account.

Treat payday loans as a last resort.

Finding a Payday Loan

As payday loans are so popular there are many lenders vying for your business. It is definitely worth taking the time to research the market to see what is on offer. You can use the table above to find the right payday loan for you.

It is important that you read the small print on a payday loan and understand how the loan works. Also look at what happens if you miss payments.

Payday Loans - Latest News News and Charts

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Consumers under more pressure surrounding tightened rules with Payday Loan Lenders.

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Financial advisers warn that households are overburdened with debt with more people borrowing personal loans at a high

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Has Christmas wiped out your savings? Will a cash payday loan help you get through to the end of the month?

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Christmas is over and all you are left with is a financial hangover. Read our cash payday loans guide for some tips on how to cope with your Christmas debt in 2014.

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Help- I need some quick cash! Are payday loans worth considering?

03 September 2013
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Struggling to make it through until payday but worry about taking out a payday loan because of the recent bad press? Read our payday loans guide for some tips.

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Why a bad credit loan can be right for you

06 May 2013
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People who have been refused for a loan can still apply for a bad credit loan

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