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Blacklisted or struggling with Bad Credit? We can Help!

Most South African banks and mainstream lenders require their clients to meet certain criteria in terms of credit score or, alternatively, to have a good debt–to–income ratio.

If you’re blacklisted or have been denied a loan from a bank, take your pick from our list of alternative lenders.

Do I qualify for a Bad Credit Loan?

Access affordable Personal Loans from SA's top lenders

There are hundreds of personal loans available in South Africa, making it difficult to compare offers. LoansFind can help you find the right option.

Available from both major banks and specialised lenders, you’re certainly spoilt for choice when it comes to personal loans. There are numerous loan comparison sites available to help you compare products and providers, however, as conditions change quickly, these tools are not always completely up to date.

In order to avoid being steered in the wrong direction, use LoansFind’s comprehensive guide to help you navigate the complex lending landscape and find the right option.

Flexible, affordable & available to all

Personal loans are flexible enough to be used for any purpose from purchasing furniture and home renovations to financing a family vacation. When compared to short-term loans, they typically offer larger loan amounts, longer repayment terms, and lower interest rates.

Loan amounts & repayments terms

You can get a loan ranging from just R500 to R300,000 with up to 60 months to repay. The loan amounts and repayment terms vary depending on your lender, your credit profile and affordability, and your loan amount.

Rates will also vary depending on the lender, your loan amount, your credit profile, and the loan term you select. The higher your credit score, the lower your interest rate will be, with only customers with flawless credit receiving advertised rates as low as 12.75% per annum.

Early repayment & establishment fees

If you’re planning on repaying your loan early, you must be mindful of the lender’s early repayment fees. These can be excessive and may reduce your early payment savings substantially. Before signing any loan agreement make sure that you review all costs associated with your loan – including establishment fees.

Check out our comprehensive list of personal loan providers, from major banks to specialized bad credit lenders, there’s definitely an option suited to your specific needs!

Marketplace of lenders offering Personal loans

WesBank

WesBank

  • Loans up to R200,000
  • Term up to 72 months
  • Interest from 22.5%
Boodle

Boodle

  • Loans up to R4,000
  • Term up to 32 days
  • Interest up to 60%
FinChoice

FinChoice

  • Loans up to R40,000
  • Term up to 24 months
  • Interest from 24%
Hoopla

Hoopla

  • Loans up to R250,000
  • Term up to 36 months
  • Quick Online Loans

Online loan calculator

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* This calculator is for illustration purposes only.

Need help finding a Bad Credit Loan?

Blacklisted or have a poor credit rating? We can help you find the ideal bad credit loan.

Contrary to popular belief, those with a poor credit history or those who have been blacklisted still have credit options available to them. We’re here to help you find and compare these options. LoansFind can provide you with critical information about loans for bad credit, which will help you find the right product for you, and keep you away from loan sharks.

Your financial history is certainly a critical factor in determining your eligibility for a loan. If you have a good credit history you’ll not only stand a greater chance of getting approved for a loan but you’ll receive significantly better terms and rates. This includes a lower interest rate and better, more flexible repayment terms.

Do I qualify for a bad credit loan in South Africa?

Apart from your credit history, other factors will determine your eligibility for a personal loan and these may differ depending on the lender you select. This includes factors such as your monthly income and expenses (debt–to–income ratio), and employment history, among many others.

Being a part of a family will work in your favour, particularly if your partner also has a stable income because lenders will automatically assume you to be a lower risk client. In addition, individuals who own one or more, high-value assets, such as a home that can be used as collateral, will certainly have many loan options available to them, with favourable conditions.

Using our list of bad credit lenders you can find your ideal match, improve your chances of approval and secure a loan in the shortest possible time.

Marketplace of lenders offering Loans for Bad Credit

EZI Finance

EZI Finance

  • Loans up to R8,000
  • Term up to 6 months
  • Interest up to 32.1%
Wanna Loan

Wanna Loan

  • Loans up to R3,000
  • Term up to 37 days
  • Interest from 5%
SupaSmart

SupaSmart

  • Loans up to R200,000
  • Term up to 60 months
  • Interest from 16%
Hoopla

Hoopla

  • Loans up to R250,000
  • Term up to 60 months
  • Interest from 20%

Find your ideal Car Finance package today!

If you’re looking for car finance that will suit your every need, LoansFind can help you decide what type of loan is best for you and help you find your ideal lender. Taking out a car loan will allow you to buy a new or used car and pay it off in affordable monthly installments.

The first step to securing car finance

One of the most important first steps is to use a loan calculator to find out what you can afford. When doing the calculation remember to budget for additional costs such as insurance, registration, and servicing (if your deal doesn’t include a service package).

Do you qualify for car finance?

You need to be 18 or older, have a South African ID, be employed and have proof of income in the form of bank statements and payslips, and proof of address. Each lender have their own set of eligibility requirements which you’ll need to meet. All car finance applicants must undergo a credit check and have their income and expenses reviewed to ensure affordability.

Supporting documents to keep on hand

When apply for a car loan, you lender will request that you upload your supporting documents. These include you ID, proof of address, 3 month’s payslips and 3 month’s bank statements, and your driving license. Bank statements can be provided by linking to your online banking or by providing stamped copies from your bank.

Apply online in minutes

If you’ve found your dream car, be it a new or used vehicle, you can complete your loan application online. This not only saves time but makes the process easier for all involved. You’ll have to provide your lender with the details of both the dealer or seller and the vehicle before your application will be processed.

The better your credit record the lower the interest rate that you’ll qualify for. Those with imperfect credit scores will typically receive a higher interest rate. Not sure what your credit score is? You’re eligible to download a free copy of your credit report from any of the major South African credit agencies once a year. This can quickly and easily be done online.

Marketplace of Lenders offering Car finance

Liquid Capital

Liquid Capital

  • Loans up to R800,000
  • Term up to 72 months
  • Interest from 6%
Investec

Investec

  • Loans up to R200,000
  • Term up to 60 months
  • Interest from 10%
Absa

Absa

  • Drive your dream car
  • Term up to 72 months
  • Interest from 9.25%
Wesbank

Wesbank

  • Loans up to R150,000
  • Term up to 72 months
  • Interest from 22.5%

Access fast, affordable & reliable Quick Loans – 100% Online

Quick loans offer you a small to medium amount of cash, are easy to qualify for, available from most lenders, and can be approved and credited quickly. If you’re looking for the ideal short-term lender, our list of providers will help you find your match.

Simple, versatile loans online

Quick loans are one of the simplest and most versatile credit products on the market. They can be used for just about anything from car repairs and medical bills, to school fees, and groceries. Whatever you need a loan for, as long as it’s between R300 and R8,000, you can get one from our collection of leading providers.

How to choose a lender?

How you choose a lender will depend on whether you have good or bad credit, the loan amount you’re after, and how quickly you need the loan. While banks offer some of the most competitive rates, they have stricter eligibility requirements. This makes them a great option for those with excellent credit but, not for those who’ve missed repayments or have been blacklisted.

What you’ll need to apply for a quick loan

If you’re pre-approved by your bank, you won’t need to upload any documents. You’ll simply need to apply and sign the loan agreement. However, if you’re applying with a specialized lender, you’ll need to upload some supporting documentation. This includes, your South African ID, 3 month’s bank statements, and proof of address.

Do you qualify?

With so many specialized lenders it’s easy to qualify for a fast loan. You’ll need to be 18 or older, be employed and earning a stable income, and be a South African citizen or permanent resident. Lenders will also require that you specify your income and expenses so that they can ensure you can afford the loan repayments.

Marketplace of Lenders offering Quick loans

RCS

RCS

  • Loans up to R250,000
  • Term up to 60 months
  • Interest from 15%
Nedbank

Nedbank

  • Loans up to R200,000
  • Term up to 60 months
  • Interest up to 12.50%
FNB

FNB

  • Loans up to R300,000
  • Term up to 60 months
  • Interest from 13.5%
African Bank

African Bank

  • Loans up to R200,000
  • Term up to 72 months
  • Interest from 10.5%

Simplify your debt with a premium Debt Consolidation Loan

Struggling to keep up with your debt? Let us help with a debt consolidation loan.

It’s important to pay your loans and bills on time and ensure that you don’t fall behind. If you’re struggling with multiple monthly expenses and debts, there are various debt consolidation options, which will enable you to combine all your debts into one, larger and cheaper loan.

Is debt consolidation right for you?

Debt consolidation can help you if the majority of your debt lies in unsecured credit such as store accounts, credit cards and personal loans. If you’re paying multiple accounts, are struggling to keep track of them, and would like to simplify your finances, a debt consolidation loan may be right for you.

A lower interest rate and more manageable repayments

When consolidating, you’re wrapping up small debts into one larger loan. This also means that you’re likely to secure a lower overall interest rate. While this is quite helpful, this doesn’t mean you’ll pay less for your debts overall since you’re going to receive a longer repayment term.

If you’re battling with affordability, your lender may increase your loan term to decrease your monthly repayment amount. This will make day-to-day life easier but will cost you more in interest overall.

Apply for a consolidation loan

To qualify for debt consolidation, you’ll still need to have a good credit score and meet your lender’s affordability requirements. Therefore, debt consolidation is not suitable for you if you’re blacklisted or have already fallen behind on repayments. In such a case, you may want to consider debt counselling.

You can apply for a debt consolidation loan online by completing your desired lender’s application form, linking to your bank statements, and uploading any supporting documents required. You should get approval within anything from a few minutes to a couple of hours.

Marketplace of Lenders offering Debt consolidation

Debt Therapy

Debt Therapy

  • Easily reduce repayments
  • Expert financial advice
  • FREE consultations
Debt Rescue

Debt Rescue

  • Free debt assesment
  • Get a rescue plan
  • ONE affordable payment
National Debt Advisors

National Debt A...

  • FREE debt assessment
  • Debt relief options
  • Become financially free
Debt.co.za

Debt.co.za

  • Term up to 60 months
  • Consolidate existing debt
  • Interest from 20%