Representative example: Estimated repayments of a loan of r30,000 over 36 months at a maximum interest rate of 29.25% apr would be r1,381 per month including fees. Repayment terms can range from 2 - 72 months. Myloan is an online loan broker and not a lender. Our service is free, and we only work with NCR-licensed lenders in South Africa. Interest rates charged by lenders can start as low as 19.25% apr, including an initiation and service fee determined by the lender. The interest rate offered depends on the applicant's credit score and other factors at the lender's discretion.
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.
*Competition period: April 1st - April 30th, 2024. As the prize, MyLoan will pay off the competition loan for the winner (up to a maximum of 10,000 ZAR) directly to the lender. To be eligible, you must have applied for a loan using the provided competition link and taken out that loan (competition loan) during the competition period. The winner will be randomly selected from the pool of participants in our database on Friday, May 17th, 2024, and will be notified via phone using the number provided in the application. MyLoan reserves the right to disclose the winner (only first name and city) on our social media channels. If the loan principal is less than 10,000 ZAR, any remaining funds will not be paid out in cash to the winner. If the loan principal exceeds 10,000 ZAR, the winner is solely responsible for any remaining outstanding balance according to their loan agreement with the lender.