Payday Loans Online in South Africa

Payday loans are also referred to as cash advance loans or check advance loans. They are short-term loans in which a borrower takes high-interest credit based on their income. These loans are typically characterized by high interest rates and a short repayment duration. They usually come in small amounts, although the exact amount depends on the borrower’s income and credit profile, and are relatively easy to qualify for. They are usually due on the borrower’s next payday. Payday loans online are basically payday loans you can apply for online. In this article, we explore various providers of payday loans online in South Africa and who is eligible to apply for them.

Payday Loans Online in South Africa

1. Wonga

 Their loans typically range from small amounts to up to R8,000. The application process is done entirely online.

Eligibility Requirements

• Be over 18 years old
• Live in South Africa
• Have an active South African bank account
• Personal email address
• Personal cell phone number
• Have a regular income
• Recent payslip

How To Apply For Wonga Loans

• Visit Wonga website
• Use the slider to choose the amount you need
• Use the slider to choose how long you will need to repay
• If you are satisfied with the repayment amount, click on “Apply Now” and proceed to finalise your loan.

2. Lime24

Loans from Lime24 range from R500 to R8,000 with flexible repayment terms of up to 37 days.

Eligibility Requirements

• Active cellphone number
• South Africa ID number
• Bank account details
• Latest 3 months bank statements showing your income

How To Apply For Lime24 Loans

• Visit Lime24 website
• Use the slider to choose the amount you need
• Use the slider to choose how long you will need to repay
• If you are satisfied with the repayment amount, click on “Get Money” and proceed to finalise your loan.

3. Hoopla

Features of Hoopla loans:

• 100% Free to apply
• Instant Online Loans – Cash paid into your bank account today
• Low repayments, typically over 3 to 60 months
• High approval rate
• Use for any purpose
• Bad credit history – no problem

Eligibility Requirements

• You must be 18 years or older
• You must have a regular form of income in order to apply for a loan

How To Apply For Hoopla Loans

• Visit Hoopla Loans website
• Click on “Get My Loan” under Payday Loan
• Provide your personal details as well as details of employment and income.
• Read and agree to terms and conditions
• Verify that you are human by clicking on the reCAPTCHA check box
• Click on “Get My Loan”
• Your loan application will be reviewed and disbursed if you qualify

4. MyMulah

First time lenders are eligible for up to R2,500. Subsequently, lenders are eligible for up to R8,000, provided they repay on time.

Banks Supported by MyMulah

• Absa
• FNB
• Standard Bank
• Nedbank
• Capitec

Eligibility Requirements

• You must be 21+
• Reside in SA and have a valid ID
• Provide proof of your income
• Have an active checking account

How To Apply For MyMulah Loans

• Visit MyMulah website
• Use the slider to choose the amount you need
• Use the slider to choose how long you will need to repay
• Click on “Apply Now” and proceed to finalise your loan application

5. Koodo

Koodo offers up to R5,000 in credit card or cash deposits.

Eligibility Requirements

• Be a citizen of SA
• Be at least 18 years old
• Provide a copy of your Passport or ID
• Copy of latest payslip
• Copy of latest 3 months bank statements

How To Apply For Koodo Loans

• Visit Koodo website
• Click on Payday Loan Application
• Provide your details
• Attach neccessary documents
• We will process your application and if succesfull payout to your bank account within 24hrs
• The Loan repayment will be deducted from your account on your next payday by debit order

OR

• Visit the website
• Click on “How much do you need”
• Fill in your details
• A Consultant will contact you to complete the application

6. Nora Finance

New customers can apply for up to R2,500 while existing customers can get up to R5,000 with a repayment period of 35 days.

Eligibility Requirements

• A cellphone number
• A South African ID number
• Bank account details
• Most recent proof of income

How To Apply For Nora Finance Loans

• Visit Nora Finance website
• Create an account by clicking on Sign Up
• If you are an existing customer, click on Sign In
• Proceed to the application by using the sliders to select your loan ammount and repayment duration