Short Term Loans South Africa

Best Short Term Loans 2018

BayPortSA offers personal loans of up to R200 000! Apply online with a simple online loan application process and personalised service.

  • R1000 Minimum Loan Amount
  • R200,000 Maximum Loan Amount
  • Repayment period of up to 6 months

    Wonga offers flexible loans of up to R4 000 with a simple online application that only takes minutes to complete! No hidden fees, see the costs upfront.

    • R500 Minimum Loan Amount
    • R4,000 Maximum Loan Amount
    • Repayment period of up to 6 months
    • Interest rate of 3% per month + fees with no hidden charges


    MPOWA Finance MPOWA is the newest short term online loans provider! Get same day loans of up to R 2500!

    • R2,500 for new customers
    • Succesful applications received before 3pm will have cash by 5pm the same day!
    • Instant decision 24/7 & NO paperwork
    • Also available on mobile

    #2 – Boodle
    Boodle is the short term loan provider with some real South African flavour! Quick loans of up to R 8000 with 41 days to repay!

    • R2,500 for new customers, and up to R8,000 for existing customers
    • Instant decision 24/7 & NO paperwork
    • Up to 41 days repayment period
    • Also available on mobile

    #3 – LimeLoans Lime Loans is SA’s newest online only loan provider offering one of the fastest approval times at just under 5 minutes!

    • loans up to R5,000
    • 5 minute loan aproval!
    • Instant decision 24/7 & NO paperwork
    • Also available on mobile


    #5 – is a great solution if you’re unsure of which loan provider to go with – they will match your requirements directly with the best loan option for you!

    • OVER 234 000 applicants helped
    • NO Application Fees Charged
    • Quick and Easy Approvals
    • Loans up to R15 000

    Short term loans – or payday loans – have become exceedingly popular in South Africa with borrowers looking for easy, quick access to cash to cover emergency expenses. And with the introduction of Wonga in South Africa, people looking for short term finance in SA now have a reputable, trusted provider to help them with short term credit needs.

    As the name implies, short term loans are normally smaller amounts that people can borrow and repay in shorter time frames (hence also the term payday loan). Short term loan providers in South Africa have less stringent approval requirements, so a lot of people prefer them to their normal bank, where loan approvals are scrutinized in detail, and approvals take for ages!

    In order to qualify for an online short term loan in South Africa you will need the following:

    • You need South African Citizenship with a valid ID
    • You must have completed 18 years of age
    • You must hold a valid bank account
    • You need a valid cell number

    Most short-term loans have a 40-day repayment cycle which means you can conveniently pay when your payday arrives. The loan amount is also totally flexible so you can set the credit according to your needs and repayment abilities.

    As mentioned above, the arrival of Wonga in South Africa has changed the face of the local short term loan industry by moving the application process entirely online! This results in easier applications, speedier turn around times and increased transparency in rates and fees for the borrower. Wonga uses special online risk assessment technology that will evaluate your request and inform you of whether or not you were successful within minutes. If approved, Wonga will have the requested funds in your account within 24 hours which makes them great to use for those unexpected emergencies.

    It’s been close to 10 years now that Wonga has first started taking shortterm loan applications in South Africa and since then a host of other companies have started offering short term credit online. If you’re in need of some short term financing, we have reviewed the best companies in South Africa that will lend you up to R10 000 to cover your emergency!

    Best Shortterm Loan Companies South Africa 2018

    We have already discussed Wonga above, however there are 3 other legitimate providers you might consider. Each one of these may have different risk profiles, so if you’re declined at one you may still get lucky with your other applications. It’s also worth take a close look at the terms and conditions and pricing, as charges vary greatly between short term loan companies!


    After Wonga, Boodle is arguable the larger provider of short term and payday loans in the country. New customers can get up to R3 000 with repayment periods up to 32 days. The company offers a sleek, modern and fully mobile optimised website which makes your loan application a breeze. Once approved, funds are generally paid out in less than 10 minutes!

    For more information on Boodle shortterm loans as well as a comparison of costs & fees, please see here.


    MPOWA Finance short term loans is a newer entrant to the market, but they have made quite a splash! Offering up to R2 5000 with some of the lowest rates in the industry, it’s a great alternative to Boodle and Wonga. They also accept applications from blacklisted candidates, as long as you’re not under Debt Review or have an Administration Order against you.


    As the newest shortterm loan provider on our list, Lime Loans is luring new customers with loans of up to R5 000 repayable over 65 days! The company also offers an innovative tiered pricing structure, meaning if you find yourself in need of emergency funds on a regular basis, Lime Loans is a good choice since you build your loan history directly with them which opens up cheaper rates and larger loan amounts.

    Is a Shortterm Loan Right For Me?

    All the promises of quick, easy cash might sound too good to be true, and it’s not all as “peachy” as the loan sites make it seem. Fact is, shortterm loans are a very expensive means of credit and should only be used in emergency and when you know you can pay back the amount when it’s due. Penalty charges can quickly add up and you may have to end up paying back a lot more than you originally though you would have to set aside.

    That being said, sometimes you just need a fast, emergency cash injection and a quick approval, online paperless shortterm loan is the perfect answer!

    Payday Loans versus Shortterm Loans – What’s the Difference?

    When you start browsing and comparing loan providers, you may find that some websites use payday loans and short-term loans interchangeable, which may cause confusion. Strictly speaking, a payday loan is a type of short term loan, which was designed to be repaid on your next payday and as such normally has a 30-odd day repayment period. However, the payday loan industry has faced global criticism over their extremely high rates and opportunistic pricing, which as prompted a lot of the more reputable lenders to reference short term loans instead to avoid any confusion.

    In the context of South Africa however, the two types of loans are almost identical – generally, any loan with a repayment period of less than 30 days, can also be classed as a payday loan. For more information regarding payday loans and for a comparison of South Africa’s top payday loan lenders, please see our list here.

    While having access to quick and easy credit online definitely has its advantages, short term loans should also be taken out with care! The interest rates on them are very high, and since they are designed as short term credit, you should always look to pay these back asap! Also make sure you understand the risks and penalties associated with failure to repay the loan and do a quick calculation of all the fees and charges so you understand exactly what you will be charged on your loan.