Personal Loan in Pretoria - Get the Best Offers | 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.


There are several reasons why you would want a personal loan in Pretoria. It could be to buy a new car, renovate your home, or student loans. You should know what type of loan you need to get before signing a debt agreement.

Get offered the perfect loan amount for you and your budget and a personalised interest rate. At MyLoans, we will do our best to make sure you get the best interest rate offers in Pretoria.

Types of personal loans offered in Pretoria

There are generally two types of personal loans. These types are secured personal loans and unsecured personal loans. Once it is time for you to apply for a loan, it's important for you to understand the difference between both.

Secured Personal Loans

A secured personal loan requires the use of collateral as security for the loan. The advantage of these loans is that the interest rate is more favourable than with an unsecured loan.

Collateral is usually required for purchases that require a large loan amount. If available, it is advisable to utilise your collateral with loans that take many months to pay back. These type of loans include:

Unsecured Personal Loans

Unsecured personal loans don't require collateral and instead rely on the borrower's financial history and credit score to prove that they have the financial means to repay the loan. The maximum loan amount from an unsecured loan is usually less than a loan backed with collateral.

Here are examples of common uses for unsecured personal loans:

Whether secured or unsecured, personal loans have agreed-upon terms imposed by the lenders. These terms specify the interest rate, loan repayment amounts, the repayment frequency, and the period before the loan is fully repaid.

There is no deposit required for the personal loan, and you can pay the loan back over 6 to 72 months, depending on your affordability. The application process is quick and easy, so you don't need to stress about your baby coming before the nursery gets done on time!

What are the requirements to get a loan in Pretoria?

When you apply for a personal loan in Pretoria, check the lenders' requirements to see if you qualify. Each lender has its own requirement, but from a general perspective, the requirements include:

The personal loan is subject to the lender's terms and conditions and final credit approval.

How to apply for a loan in Pretoria

There are several ways on how to apply for a loan in Pretoria, South Africa.

Whichever route you choose, ensure the lender is a registered credit provider. There are many loan sharks and scammers that you need to be aware of.

Do your research before making your final selection on the loan you're interested in. Also, to prevent paying unnecessary interest rates and fees, attempt to repay your debt as soon as possible.

Personal loans require little effort to apply online for and are a viable option when you need money to supplement your monthly income.

To make the loan process more simple, use MyLoan to find personal loan offers in Pretoria. Apply online with one loan application and get multiple personalised loan offers from lenders. Select the best loan option for you.

REPRESENTATIVE EXAMPLE: ESTIMATED REPAYMENTS OF A LOAN OF R30 000 OVER 36 MONTHS AT AN INTEREST RATE OF 24.50% APR INCLUDING A MONTHLY SERVICE FEE OF R69 AND AN INITIATION FEE OF R420, WOULD BE R1264,67 PER MONTH. 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 LENDER'S DISCRETION. REPAYMENT TERMS CAN RANGE FROM 1 - 72 MONTHS.