Get a Cash Loan In South Africa | MyLoan

Representative example: a R50 000 loan at an interest rate of 24.5% per annum plus a once-off initiation fee of R1 207.50 (added to the loan amount in this example) and a monthly admin fee of R69.00, over 72 months would have a total cost of R 103 155.57. The maximum annual interest rate including fees is 27.5%. Repayment terms can range from 1 - 72 months. MyLoan is an online loan broker and not a lender. Our service is free and we work with NCR licensed lenders in South Africa. Interest rates charged by lenders can start as low as 20% APR, including an initiation and service fee determined by the lender. The interest rate offered depends on the applicants’ credit score and other factors at the lenders’ discretion.


MyLoan has helped thousands of South Africans compare and find the best loans in the country. You, too, can find the perfect loan amount to keep your finances moving with amounts of up to R250 000.

Easy and Fast Cash Loans With MyLoan

Why Choose MyLoan? 

Free Application

What you get is what you see, and there are zero hidden costs. You are also not obligated to accept any offers, which takes off the pressure of shopping for a loan. You get to make smarter decisions with no extra costs - just benefits.

Compare Loans Easily the Smart Way

Smart shoppers always compare their options, and MyLoan is a loan comparison service dedicated to smart shoppers like you. You don't have to chase after loan offers all over the internet. Instead, you can compare all your options under one roof to find the best loan on the market for you.

Wide Range of Loans Available

Variety is the spice of life, which is why our lenders offer cash loans for every occasion. Whether you need to get an instant cash loan, emergency cash loan, or cash for other expenses, we can connect you with the right lender to suit your needs. 

What's more, our cash loans are available for many purposes, from weddings, holidays, education, car repairs, home renovations, and everything in between.

Unlimited Convenience

With MyLoan, you can now skip the banking queues and forget about knocking on different lenders' doors. Instead, you can apply for cash loans online right where you are and receive offers without wasting a lot of time and energy. Once we forward your application, the loan offers come to you, not the other way round. 

Reputable and Trusted South African Lenders

Before taking out a cash loan, it's crucial that you only deal with an authorised financial services provider. That's why you can count on our lender partners 100%. They will act in your best interests to ensure you borrow responsibly and all interest rates are set within limits prescribed by the National Credit Act.

Secure Platform

You can trust us to keep all your information safe, and we are transparent about all the details we share with our partner lenders. This should give you the confidence to apply for your cash loan online, in the comfort of your home. You can refer to our Privacy Policy for more details.

Meet Your Financial Goals and Live Your Best Life

When used correctly, cash loans can give you the financial boost you need to achieve your goals in a shorter time frame. When you submit an application on the MyLoan platform, you give yourself the best chance to find a loan that's just right for your budget and needs. 

A loan makes everything more affordable, and the great thing is you can pay it off in bits and pieces at your own pace. 

How to Apply for Cash Loans Online

Here's How It Works

Step 1: Apply 

It's All In the Details You Give Us

You are a unique borrower, and your circumstances are different from other borrowers. So be sure to take the time to fill out our application form as thoroughly as possible. Tell us about your preferred loan amount and contact details to begin with. 

Providing us with more information makes it easier for us to match you with the best lenders that can provide you with the loan you need. Don't worry! Our application only takes a few minutes to complete, and we appreciate every detail you provide for us.

Step 2: Compare

Personalized Offers Just for You

Once you complete and submit our application form, you're all set. We will take it from there by forwarding your application to multiple lenders. In turn, our partner lenders will review the details, and if they think you're a good fit, they will contact you directly with their best offers. When you receive multiple offers, it's now time for you to compare and decide how to choose the best option. 

Step 3: Get Cash

Enjoy Your Big Bank Balance

Whatever choice you make, you can be sure you're dealing with an authorised financial services provider. When you accept an offer, all you have to do is complete the application process and get your cash all in good time.

Get Access to Various Types of Cash Loans 

Cash loans come in all shapes and sizes, and our lender partners offer cash loans for every life event.

Personal loans

A personal loan is one of the most common types of cash loan because it's very flexible. For instance, you can take out a small personal loan or a large personal loan (loan amount goes up to R250 000). You can also take out a short-term personal loan or a long-term personal loan - repayment periods typically range from six months to five years or even seven years.

In addition, you can apply for a secured personal loan or an unsecured personal loan (unsecured personal loans are more common). In a nutshell, a secured loan means you have to put up a valuable asset that you own as collateral. 

The lender will be able to seize the asset if you fail to pay the loan back. You are not required to offer collateral with unsecured loans, but you may need to have a good credit score to lower the lender's risk. 

Personal loans can also be classified according to purpose. Here are some popular examples:

Car loans

You can use a personal loan to buy a car, but any time you hear mention of a car loan, it usually means the loan is secured. Therefore, car loans are a specific financial product where the car you're buying is used to secure the loan. That means the lender will repossess the vehicle if you don't stick to your payment agreement. 

Debt Consolidation loans

Debt consolidation loans are a specific type of personal loan designed for borrowers that are juggling multiple loans. When you take out a debt consolidation loan, the cash is used to pay off your other loans. Essentially, you're using one big loan to cancel out several small loans. 

This makes your debt easier to manage since you now only have a single monthly repayment to make. Plus, you can potentially save money if you replace high-interest debt with low-interest debt.

Payday loans

Payday loans are designed for borrowers who need to get an instant cash loan that they plan to repay on the next payday. Because a payday loan tends to have a higher interest rate than a personal loan, it's best to apply for one only when you have an emergency. 

Payday loans are popular among South Africans because you can usually apply for one if you have bad credit and get the loan amount you need quickly in your bank account. 

Need Cash Loans In South Africa Today? MyLoan Is Here to Help!

Getting a loan with MyLoan is free, fast, and easy. At MyLoan, we believe that every South African deserves to find the right loan for their needs. When your budget doesn't add up, you can take advantage of our free service to discover the best loan on the market that works for you. Depending on the lender you choose, you can expect the following benefits from your application:

Get started and fill out our loan application now to discover the perfect loan that makes your life easier.

Cash Loans FAQs

Who can qualify for cash loans?

General requirements state that you must be at least 18 years old and a South African permanent resident with a stable and reliable income. Depending on the lender, any of the following people can apply:

What do I need to apply?

This varies from lender to lender, but here's a reliable checklist of what you need:

How to compare and choose the best loan?

The most important factors to consider are the interest rate and the charges and fees. Your interest rate is usually personalized according to your credit score, so you'll get a lower rate with a higher credit score. Fees and charges to watch out for include the monthly service fee and the initiation fee. 

Keep in mind the initiation fee is usually charged upfront, so it will be deducted from the lump sum you receive. When figuring out how to compare cash loans, you should also consider other factors like loan amount, turnaround time, and early payment fees.

Can I apply if I have bad credit?

Yes, some South African lenders cater to borrowers who need to repair their credit. Interest rates for bad credit loans are generally higher, but if you make your payments on time, you'll improve your credit history in the long run.

How long does it take to get the cash?

It all depends on the lender and the type of cash loan you're applying for. Some lenders advertise that you can get an instant cash loan and same-day approval, while others take a bit longer to process your application.