Short on cash? Try these online payday loans
Short-term loans have gained tremendous popularity in SA over the past few years. These loans are done entirely online and are generally for loan amounts up to R4,000 for first time applicants and R8,000 if you have taken a short-term loan out before with the same loan provider. The repayment period varies by loan provider but generally is less than 45 days (Please note that your repayment date can’t fall on a Sunday). Below is the first short-term loan comparison tool in SA! Simply move the sliders to find the amount you are looking to borrow as well as when you would like to pay it back and the exact amounts will be shown in the table below. Then click ‘Apply now’ to get started!
The payday loan providers shown below have the majority market share in SA in terms of the online, payday loan market. They each have their own unique, user friendly, easy to navigate system and application process that is streamlined to save you time and help you get the loan you are looking for paid directly into your bank account as soon as possible. Below gives some general information about each of these companies…
Boodle.co.za – Boodle was the first payday loan provider in SA. They offer loans from R100 – R2500 with repayment periods of up to 32 days. The application process can be done in any of the 9 official SA languages so they really do cater for everyone!
Getbucks.com – Getbucks has been expanding aggressively into Africa and currently have a presence in Botswana, Kenya, Malawi, Zimbabwe and SA. Overseas they also operate in Austria and Spain. Here in SA, their offering is slightly different from the other payday loan providers in that they allow first time applicants the ability to apply for loans up to R4, 000 with repayment periods up to 45 days.
Wannaloan.co.za – Wannaloan? Is the newest of these four platforms to enter the payday loan market in SA? The idea behind this company began in 2010 and towards the end of 2012, the platform entered the market. They have built up a solid reputation in the industry and are based in Cape Town.
Wonga.co.za – Initially launched in the UK in 2006, Wonga was the first loan provider to fully automate the online loan application process, making it entirely paperless. Since the launch of Wonga, the company gained massive popularity and has since achieved a dominant market position in SA. Wonga is also currently operating in Ireland and Canada as well as the UK. They are the only payday loan provider that has successfully granted over 7 million loans to date (1 million of those being from SA)! They also use a very unique (and secretive) application process and are therefore very selective about who they grant loans to. Please note that when applying for a loan near the end of the month (from the 20th onwards, loans up to 45 days become available). Wonga has recently launched a brilliant charity initiative (together with the non-profit organisation; Grandmothers Against Poverty & Aids: GAPA) in SA whereby they are knitting warm items of clothing that will be handed out in underprivileged communities around the country. If anyone would like to get involved with this initiative and donate blankets, scarves and beanies, Wonga will then distribute these. These can be dropped off at the Kaya FM offices in Johannesburg and the Heart 104.9FM offices in Cape Town throughout the month of June.