R 500
R 175000
R 350000

Personal Loans

In order to find the best personal loan for your needs, it is important to compare personal loans online.

  • Apply in minutes
  • Get offers from multiple lenders
  • Choose the best loan option available

Note: If you are not satisfied with the loan offers, you don’t have to select any of them.

Applying for a Personal Loan online – How it works

About 5 minutes

1. Select loan amount

In the calculator, select the loan amount you need.

The minimum amount is R 500 and the maximum amount is R 250 000.


2. Fill out contact details

Fill out your email address and your cellphone number.

Keep in mind that you will receive the loan offers through these channels.


3. Fill in additional details

The applications are often processed automatically. To achieve this, banks and lenders need some additional details, like your employment status and monthly income.


4. Select the best loan offer

Compare the offers & select the best one! If you are not satisfied with the offers, you don’t have to do anything. The application expires automatically.


Personal Loans – Apply Online

One of the most common types of loans, Personal loans are given by different organizations for different purposes to borrowers. Some might find the process of availing it to be a little daunting. Here we are with all the information you might need on how to apply for these loans, various features of the loan, any risks you should be aware of, and more.

Best personal loans in South Africa 2022 — Lowest Loan Rates

A number of institutions offer different kinds of personal loans. Different conglomerates offer customized loan plans as well for the benefit of the borrower. Some might even offer lower interest rates. These obviously prove to be beneficial The decision to take out a personal loan can depend upon the interest rate. Following are a few good options to look at.

The interest rates can go as low as 15%. Institutions such as Direct Axis consolidation Loan and Direct Axis Personal Loan are offering 15%. Bayport and RCS General personal loans are also asking 15%. African bank consolidation loan and African bank personal loan are ready to help you out with 15% too. It can be a fast, paperless application process.

Low interest rates enable you to take the loan for multiple needs but require you to pay the instalment in one go. This whole process can be completed online. Repayments are flexible with various options to choose from. People are regularly looking for the best loan opportunities. You just need the best possible tools which help you to decide you future investments.

Compare personal loans and interest rates in South Africa 2022

To decide to go with which institution you will have to compare the interest rates of various loan institutions and find the offer which is best for you. Various banks give the deals where you are required to take the loan with very little cash of your own. Either for an emergency or recreation, it becomes an easy effort.

Comparison can be made in the terms of repayments, time-period and the amount to be paid at first and at the end. Like we first mentioned earlier the names of a few loan giving institutions, we will now compare various aspects, so a better deal can be made. RCS General Purpose Loan asks for 15% interest on R 2000 to 2,50,000.

It is up to you to choose from 12 months to 60 months option. In the same way My Loan offers 16% interest on R 5000 to 2,50,000. You may take a loan from Money Shop ranging from R 10,000to R 250,000 with an interest rate of 24.75% which might seem too large for some. You might choose to select a plan that suits you.

Compare multiple lenders and personal loans online with Creditum.co.za

Different sorts of lenders will offer multiple sorts of personal loan plans. It is imperative that you make the right decision considering the interest rates and time period. Additionally, you must also consider the terms of paying off the loan. At Creditum.co.za, we ensure that you find information from multiple lenders at one place and visualize a helpful comparison.

Not only do we bring to you personal loan plans with low interest rates, we also present you with plans that offer maximum amount. Once you fill in the details about the different aspects of the kind of loan you are looking for, we will bring to you multiple options that satisfies your needs. This enables customers are happy with our services.

Loan up to R250000 over 72 months with low interest

As an example, if you apply for a loan of R 30,000 for 36 months with an estimate interest rate of 27.5%. It could cost you R1232.82 per month. We at Creditum will help you apply as an online broker and not lender. The service is free of charge, and is licensed in South Africa by the NCR. Our terms are favorable for our customers.

You may find interest rates to be as low as 15%. All of this includes an initiation fee and a service fee as per the lender’s discretion. A lot of the interest rate determination depends on your credit score. The loan amount can range from R100 to R250,000 with repayment ranging from 3 to 72 months. The interest rates also range from 15% to 60%.

What is a personal loan?

Personal loan is one of the most common types of loan. People can avail it for different sorts of personal needs. It is mainly considered an unsecured loan and hence is very convenient. A borrower can simply acquire some extra cash in times of need. Whether it’s an emergency, you need to do home renovations or simply plan leisurely activities, you can avail this loan.

These personal loans generally range from R 1,000 to R 300,000, all kinds requiring you to repay within a period of 12 months to 72 months. The repayment interest is usually 25.75% per annum. What ever period of the personal loan you choose to apply for, you will need to pay back the loan amount monthly for the same.

It is imperative that you thoroughly analyse the cause you need the loan for and the kind of loan you need. Additionally, look at how much time you need it and within what time period will you be able to repay the loan with interest. All of this information will also be a tool in making your lender decide upon the desired loan.

Personal Loans are a great way to carry out a lot of activities that you need immediate cash for. It is most useful in cases of emergency. The brunt of any sort of major health scares can be dealt with at least initially, with the help of this sort of loan. It can also act as an added fund to carry out various other activities.

What is a typical personal loan amount?

As mentioned above, there are main characteristics to be considered and kept in mind while applying a personal loan. They include amount of loan, the rate of interest, the time period the personal loan, and the repayment terms stated by the lender. A good personal loan must fulfil a borrower’s needs on all these fronts. The lender must also provide good service to its customers.

A typical personal loan, hence could be a loan given within the amount ranging from R 1,000 to R 300,000. This form of personal loan is to be repaid within a period ranging of 12 months to 72 months as decided upon approval of the loan. Also, the repayment interest granted is usually around 25.75% per annum. This is favourable to both parties.

How much can I borrow with an unsecured personal loan?

One of the major advantages of an unsecured loan is that you do not need to keep a collateral. Whether it is a bank, a credit union or any other online lender; you do not need to provide anything as a security. Personal loan is also one such loan here you can acquire it without collateral up to a certain amount.

The amount of loan offered as an unsecured loan is quite satisfactory. You can acquire an unsecured loan up to R 250 000 in South Africa. These loans are extremely helpful as your liability gets limited only to the repayment terms. You simply need to repay your loan in the decided time with the set rate of interest. Paying on time boosts your credit score.

How much does a personal loan cost?

The cost of acquiring a personal loan depends largely upon the amount you want to borrow. To get an estimate of the exact amount you will need to be ready with to bear the cost of the personal loan. You can refer to different websites online that can calculate this for you. We at Creditum can also help you get a cost break up.

You visit our website and fill in the amount of loan you want. Then, you must fill in the time period wherein you thin you will be able to repay the loan. You must also fill in if you want to acquire an insurance for the same. Furthermore, just fill in the interest rate and voilà! You will have an estimate of your cost.

What can I use a personal loan for?

Personal loans can be helpful in many kinds of situations. One of the major need for personal loans arrives in case of emergencies. In case of any medical emergency, personal loans come in very handy. You might not always be ready with a required amount of money at your disposal. Personal loans become very helpful in such kind of situations.

Apart from sudden emergencies, personal loans can also act as a great helping hand if you are planning to take up any sort of home improvements. Any new renovations or additions to the house can be taken care of by these loans. They make your projects smooth and quick, the cost for which can be paid back in your own set time.

Personal loans also become a great help in times you want to acquire something for yourself, the item can be for your home or office. While this expensive shopping might seem tough at the time, you can simply take a personal loan and get it for yourself. The cost of it can be repaid in a few months as decided by you and the lender.

Are personal loans popular?

Personal loans are one of the most popular kinds of loans out there. One of the major benefits of this kind of loan is that you can get a considerable amount of money for all sorts of your needs without any hefty collateral requirement. This loan can be instantly obtained once you have filled in all the required details.

This form of unsecured loan can be obtained easily. The lenders also are ready to help you with this form of loan. If your credit score is good, it becomes even more easy to obtain this form of loan. Apart from the terms of the loan, the process of application and obtaining the loan is also quite easy. Hence, it is quite popular.

Why consider getting a personal loan?

As mentioned before, other forms of loans are secure. You might need to keep a collateral for the same while a personal loan dos not require you to do so. Hence, for any sorts of immediate cash requirements, you can always consider a personal loan from a bank, a credit union or any other online lender. It is simple, smooth and quick.

How to get a personal loan?

The first step is to check your credit score. You can get a free credit report from each of the three major credit bureaus once a year. If your score is below 640, you may have difficulty qualifying for a personal loan. When your credit score is good, the next step is to shop around for the best interest rate.

Be sure to compare rates from multiple lenders, including banks, credit unions, and online lenders. Once you’ve found a lender you’re comfortable with, it’s time to apply for the loan. Be sure to read the terms and conditions carefully before signing the loan agreement. If you’re approved, the next step is to make sure you can afford the monthly payments.

Find the best unsecured personal loans in South Africa

Finding a perfect plan of a personal loan can seem like quite a daunting task at the beginning. The right amounts, the affordable interest rates and a time period suitable to you- finding all of these characteristics that fit your needs may seem a little difficult at first. On top of that, you also have to consider the repayment terms.

We at Creditum ensure that we answer all of your questions and address your grievance. Creditum brings you various options of personal loan plans that are in sync with your requirements that you filled in at the website while applying. Also, once you have chosen your lender and loan plan, we help you in applying and fund your account immediately after the loan is approved.

You will simply need to log in to our website Creditum.co.za, and we will bring to you the solutions to all your problems. Once you have reached our website, you will simply need to fill in the details of your requirement, and we will be ready with an action plan for you. We are one of the most coveted websites to help with this.

How to compare personal loans online with Creditum.co.za

In order to find the best personal loan for your needs, it is important to compare personal loans online. There are many websites that allow you to do this, but Creditum.co.za is one of the best. Here’s how to compare personal loans on Creditum.co.za: First, you will need to enter some basic information about yourself and the loan you are looking for.

Next, you will be able to see a list of personal loans from different lenders. Each one will have different interest rates, fees, and terms. Finally, you can compare the different loans and choose the one that is right for you. Be sure to read the fine print and understand all of the terms and conditions before signing any loan agreement.

How do I compare personal loan in South Africa?

When looking for a personal loan in South Africa, there are a few things you should compare in order to get the best deal. The first is the interest rate. Make sure to compare the annual percentage rate (APR) of the loans you are considering. A high interest rate means you will pay more. The second is the repayment period.

Most personal loans have a repayment period of between 12 and 60 months, so you will want to find a loan with a repayment period that fits your needs. Finally, make sure to compare the fees and charges associated with the loan. Some personal loans have high fees and charges, so it is important to find a loan with low fees and charges.

The fourth is the repayment schedule, which can be either monthly or bi-weekly. Repayment schedule is the most important factor to consider when comparing personal loans in South Africa. This is because it will determine how long you have to pay back the loan, and how much interest you will accrue. The terms of payment may be in installments on weekly or monthly basis.

How to Apply for personal loan online in South Africa?

In South Africa, you can apply for a personal loan online through a variety of different lenders. The process is generally quick and easy, and you can get approved for a loan in a matter of minutes. To apply for a personal loan online, you will first need to find a lender that offers online applications and can accept online payment methods.

There are many different lenders to choose from, so be sure to compare rates and terms before you apply. Once you have found a lender, you will need to fill out an online application. This application will ask for basic information about you and your finances. Be sure to answer all questions truthfully to increase your chances of getting approved.

Once you have submitted your application, the lender will review it and make a decision. If you are approved, you will typically receive the money in your account within a few days. Applying for personal loan online is a quick and easy way to get the money you need. Be sure to compare rates and terms before applying to ensure you get the best deal.

Choosing the best personal loan for you

If you’re in the market for a personal loan, you might be wondering how to choose the best option for you. Here are a few things to consider when making your decision:

  1. Amount of money you need. This is the first and most important question to ask yourself. Knowing how much you need to borrow will help you narrow down your options.
  2. Credit score. Your credit score is an important factor in determining what kind of loan you’ll be able to qualify for. If you have a good credit score, you’ll likely be able to qualify for a lower interest rate.
  3. Time to repay the loan. Consider how long you’ll need to repay the loan and choose a term that’s comfortable for you.
  4. Fees and interest rates. Be sure to compare the fees and interest rates of different personal loans before you make a decision. You’ll want to choose a loan with low fees and a competitive interest rate.5. Lender’s reputation. Be sure to do your research and check the lender’s reputation. You’ll want to choose a lender that is reputable and has a good track record.

Best personal loans for Excellent Credit

Personal loans for excellent credit are available from a variety of lenders, including banks, credit unions, and online lenders. The best personal loan for excellent credit will have a competitive interest rate, no fees, and flexible repayment terms. When you have excellent credit, you’re in a great position to qualify for a low-interest personal loan. That’s because lenders perceive you as a low-risk borrower.

Another benefit of having excellent credit is that you’re more likely to find a personal loan with no fees. Many lenders charge origination fees, which can add up. But if you have excellent credit, you may be able to find a lender that doesn’t charge any fees. This can save you a significant amount of money over the life of the loan.

Best personal loans for Good Credit

Personal loans are a great option for borrowers with good credit. Good credit is generally defined as a FICO score of 670 or higher. Borrowers with good credit will typically qualify for lower interest rates and more favorable loan terms. There are many lenders who offer personal loans, so it’s important to compare rates and terms before selecting a loan.

Some personal loans are unsecured, which means they don’t require collateral. Others are secured, which means the loan is backed by collateral such as a car or home equity. The best personal loans for good credit typically have low interest rates and reasonable repayment terms. Borrowers with good credit should shop around to compare rates and find the best loan for their needs.

Best personal loans for Fair Credit

If you have fair credit, you may be wondering if you can still get a good loan. The good news is that there are plenty of options available for people with fair credit. Here are a few of the best personal loans for fair credit: One of the best options for fair credit is a peer-to-peer loan which are easy to obtain.

These loans are provided by online lenders, and they are typically much easier to qualify for than traditional loans. Peer-to-peer loans also have lower interest rates, so they can save you money in the long run. Another great option for fair credit is a personal loan from a credit union. Credit unions are typically more willing to work with people with fair credit than banks.

Best personal loans for Bad Credit

If you’re looking for a personal loan but have bad credit, you may still be able to qualify for a loan with a high interest rate. There are a few things you can do to improve your chances of getting approved, such as having a cosigner or collateral. You’ll also need to make sure you can afford the high interest payments.

The good news is that there are still plenty of lenders who are willing to work with you. One option is to get a cosigner. A cosigner is someone who agrees to sign the loan with you and is equally responsible for the debt. This can be a family member or friend. Having a cosigner can improve your chances of getting approved.

Most common reasons to apply for a personal loan

Some of the more common reasons are:

  1. To consolidate debt: This is probably the most common reason people take out personal loans. A person can have different debts with different interest rates. It can be helpful to take out a personal loan at a lower interest rate and use that to pay off all the other debts. This makes their debt more manageable.
  2. To make a large purchase: Sometimes people need to finance a big purchase, like a car. A personal loan can be a good way to do this because it can be paid back over time.
  3. To pay for a wedding: Weddings can be very expensive. Therefore, sometimes people need a little help to pay for them. A personal loan can finance a wedding.
  4. To pay for a holiday: Sometimes people take out personal loans to pay for holidays. This can be a good way to finance a trip if you don’t have the money upfront.
  5. To pay for medical expenses: Medical expenses can be very expensive. Therefore, sometimes insurance doesn’t cover these expenses. A personal loan can be a good way to pay for these expenses.
  6. To cover unexpected expenses: Unexpected expenses can come up at any time, and sometimes people don’t have the money to cover them. A personal loan can be a good way to cover these expenses. Some common examples of unexpected expenses are car repairs, home repairs, medical bills, and emergency travel. These expenses can be very costly and can catch people off guard.

Quick online personal loans in South Africa — no paperwork

In South Africa, personal loans are readily available online with many lenders to choose from. Applying for a loan is quick and easy, and can be done entirely online without the need for any paperwork. The process is simple and is as follows: fill out an online application form with your personal and financial details, and submit it for approval.

Once approved, the loan amount will be deposited into your bank account within 24 hours. Repayment terms are flexible, and you can choose to repay the loan over a period of 1 to 60 months. Loans have fixed interest rates. No paperwork means you do not have to provide any documentation to the lender in order to get the loan.

Low interest personal loan in South Africa

A low interest personal loan in South Africa can be a great way to consolidate debt, and make a large purchase. The interest rate on a personal loan is typically lower than the interest rate on a credit card. Therefore, a personal loan can save you money in interest over the life of the loan. A fixed interest rate means your monthly payments never increase.

If you are considering a low interest personal loan in South Africa, it is important to compare offers from multiple lenders to find the loan right for you. It is also important to consider your ability to repay the loan. Paying personal loans is between a period of two to five years, so be sure you can afford the monthly payments before you apply.

Long-Term personal loan online in South Africa

There are a few things to keep in mind when you’re considering a long-term personal loan online in South Africa. First, make sure you understand the repayment terms and conditions. Most long-term personal loans have fixed interest rates, so your monthly payments will stay the same for the life of the loan. You’ll need to make sure you can afford the monthly payments.

This is because missed or late payments can result in additional fees and penalties. Second, remember that a long-term personal loan online is a serious financial commitment. If you’re not sure you can repay the loan, don’t take it out. You don’t want to damage your credit score by defaulting on a loan, so only borrow what you’re confident you can repay.

Short-Term personal loan online in South Africa

When you are in need of quick cash, a short-term personal loan online in South Africa can be the answer. These loans are to help you cover unexpected expenses or to help you make ends meet until your next payday. The application process is quick and easy, and you can often get the money you need in just a few hours.

These loans are typically much easier to qualify for than traditional loans, and they can often be obtained with little to no collateral required. This means that even if you have bad credit, you may still be able to get the cash you need. Another benefit is that they can help you avoid late fees and other penalties that can come with traditional loans.

Small personal loan online in South Africa

A small personal loan can be a great way to get the financial assistance you need. There are many lenders that offer these types of loans, so it is important to compare the different offers before you decide which one is right for you. The interest rate on a small personal loan will vary depending on the lender and the amount of money you borrow.

It is also important to consider the repayment terms of the loan before you agree to it. Some lenders will require you to repay the loan within a certain period of time, while others will allow you to make payments over a longer period of time. Make sure you understand the repayment terms of the loan before you agree to it.

Personal loans with No Credit Check

No credit check personal loans are a type of loan in which the lender does not check the borrower’s credit history. This means that even if the borrower has a poor credit history, they can still get the loan. However, the interest rate on these loans is often higher than on loans where the lender does check the borrower’s credit history.

When considering a personal loan with no credit check, it is important to compare interest rates and terms from multiple lenders. It is also important to read the fine print and make sure that you understand the terms of the loan before signing anything. No credit check personal loans can be useful for people who need to borrow money but have bad credit.

Quick personal loan for bad credit in South Africa

A quick personal loan for bad credit in South Africa can be a lifesaver when you are in a financial bind. Whether you need to cover an unexpected expense or consolidate debt, a personal loan can give you the funds you need. The best part is that you can often get a personal loan with bad credit and use it to your liking.

There are a few things to keep in mind when you are looking for a quick personal loan for bad credit in South Africa. First, make sure you shop around and compare rates from multiple lenders. Second, read the terms and conditions carefully before you agree to anything. Finally, make sure you can afford the monthly payments before you take out the loan.

Unsecured personal loans — What is an unsecured loan?

An unsecured loan is a loan where you do not need to keep a collateral with the bank, a credit union or any other online lender that you have taken a loan from. This reduces the burden of the borrower. It is great for the borrower as he can take the loan freely with only repayment obligations for him.

Apart from getting the burden reduced, it does not mean that there is no obligation of the borrower. The lender might feel unsafe if there is no obligation of the borrower. But this is settled with legal paperwork. The borrower will suffer penalties and risk of a lower credit score if he does not adhere to the repayment terms.

Unsecured vs. Secured personal loans

As the name suggests, secured loans require you to apply with a collateral. This is definitely always an added pressure for the borrower. It does make the loan secure for the lender, but it becomes quite hefty for the borrower. The borrower must think of or arrange certain sort of collateral for the loan like a property, a fixed deposit etc.

An unsecured loan does not need you to come prepared with a collateral. You do not need to keep any sort of property any fixed deposit, your gold or any jewellery as a collateral for this sot of personal loan. Even without a safe keeping collateral, the personal loan is safe if you have taken it from a verified lender.

The Benefits of personal loan

As you read through more and more of this article, you will discover that there are plenty of advantages of taking a personal loan over any other form of borrowing. Personal loans are better than any sort of credit cards or private lending. These loans are safe and legal and can be obtained legally. This in itself makes the loan safe.

When you obtain a personal loan from a bank or any other institution, you raise your credit score on repayment of the loan. This enables you take any other form of loan in the future smoothly. This is one very important advantage of the loan that you can not find any form of borrowing from any other form of organization.

Private Lenders vs. personal loan

It is a question that has been bothering the borrowers from quite some time now. Whether they must take a personal loan or borrow from a private lender. The answer is definitely a Personal Loan. It has many advantages over a private lending. One of the main advantages is that you will have adequate paperwork to show for it.

If you choose to borrow from private lender, there are fewer legalities. It only leads up to the exploitation of the borrower in case they are unable to pay in time or the lender decides he wants the pay back in a certain way. Not a lot of legalities are governing such form of lending. Private lenders charge a higher interest rate than personal lenders.

Credit Cards vs. personal loan

Some people often argue that why must one take a personal loan in today’s times when a credit card can fulfil most of your credit needs. This must seem like a valid point but credit cards have their own downsides. Personal loans definitely have more advantages to them over different credit card options. Personal loans are definitely more beneficial.

When you take up a personal loan, it raises your credit score on timely repayment. It becomes easy for you to acquire other loans in the future. A credit card entails that you must pay back at the end of the month or a year. Whilst in a personal loan you can set up a repayment time limit with the lender and pay back.

Alternatives for a personal loan

There are many other sorts of loans that you can acquire in South Africa instead of a Personal Loan. You can get a loan against your Public Provident Fund. A loan against Employee Provident Fund is also available. One of the common forms of loan that you can acquire is a loan against Gold. This is one of the most coveted forms of loans.

Another most appreciated and safe forms of loan is a loan against your Fixed Deposit. This is one of the longest running forms of loans in South Africa. People in the country often like to be secure with their loans. The most reliable loan is a loan against a property also called an LAP. It is a percentage of the property’s value.

Two other forms of loan options in place of a personal loan are loans against an acquired Insurance or loans against Mutual Funds. These different kinds of insurances and mutual funds are already an investment. If you do not want to take a personal loan, you may simply use any of the above mentioned assets and get a loan.

Personal loan FAQ


What will you need to apply for a personal loan?

You will need documents like a South African ID; 3 months’ bank statements; and proof of residence.

Who is eligible for a personal loan?

You must be minimum 18 years of age; should be employed or self-employed with a salary or income; and have a South African citizenship or residence permit.

Can I get personal loan with bad credit?

You can get a personal loan in South Africa with low credit, but you’ll need to do more work if the score is 629 or lower.

I’m self-employed. Can I get a personal loan?

If you are self-employed, you can obtain a personal loan ranging from R 500 to R 20 000.

Can a non-resident of the ZA get a personal loan?

A foreign national can obtain a personal loan, but it is all governed by exchange controls.

What should I look for in a personal loan?

You must always look for lower interest rates, options to pay back in good time and favourable repayment terms.

What are the uses of a personal loan?

A personal loan can be used for a number of different situations like an emergency, a home renovation project, getting a car etc.

What happens if I don’t pay back a personal loan?

In case you are unable to repay your loan in time, you might face additional penalties and also your credit score gets lower.