Get small loans online from the best lenders in South Africa

Are you looking for a small online loan? You are in the right place! Whether you need a quick loan to cover an emergency, a small bill, or a purchase, the convenience of applying through is unbeatable.
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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. is a South African loans comparison service that delivers small online loans right to your doorstep. That means you can get the cash you need in the comfort of wherever you are, whether you’re using your laptop, tablet, or any smart mobile device. 

Plus, we know searching for a loan can be a hassle, so we have partnered with top South African lenders so that you can shop for your loan in one place. 

How do small online loans work?

In South Africa, it’s possible to get a loan of up to R250,000 or more. A small loan is an insignificant amount of money compared to this. But that’s okay because sometimes all you need is R500 or R5,000 to get you through a short-term rough patch. Small loans can be classified into the following:

Personal loans

A personal loan is a flexible financial product that can be used for anything from car repairs and medical bills to education and purchases. A personal loan is usually unsecured, meaning you don’t have to offer your property or asset as security for the loan. Additionally, an unsecured personal loan usually has a lower interest rate than credit cards or payday loans.

Payday loans

An online payday loan is money an employed person can borrow and repay from their salary on the next payday. The amount you qualify for is based on your income and the repayment period typically ranges from 30 days to three months up to six months. 

Although a payday loan tends to have a higher interest rate than a personal loan, it can be a great option for people with bad credit. However, payday loans should be repaid as quickly as possible because interest is charged daily. As a rule of thumb, payday loans are best left for emergencies.

How to apply for a small online loan

Here’s how to apply for a small loan online in three simple steps:

Fill in the loan application

Fill in the loan form. It only takes a few minutes to complete, and once you submit it, we will forward it to multiple lenders that best match your loan description.

See loan offers

Small loan providers that see your application and are willing to provide the cash you need will instantly provide you with a preliminary loan offer. You will see the details of your loan, such as how much you qualify for and your expected interest rate. After you accept an offer, the lender will contact you directly to finalise the process.

Get the money

Once you choose and accept one of the offers, you finalise the application by submitting additional details and required documents. The lender then deposits the funds in your bank account.

Benefits of applying for small loans online


In this fast-paced world, getting a small loan online as soon as you need it can be a lifesaver. All you have to do is hop online and apply using the form on this page, without changing your location and for free. 

We have partnered with many authorised financial institutions that offer small loans with a fast approval process. Once you apply, you will instantly get a variety of offers. Pick the one that’s best for you, finalize the process, and get money in your bank account.


Typically, lenders set minimum borrowing amounts, so sometimes, you’re forced to borrow more than you need. For instance, you might find that your bank only offers loans from R15,000 going up. But what if you need a much smaller loan amount?

We can help you access small online loans, so if you only need R1,000, you get just that. 

One-stop shopping

Need a small loan in a hurry? Searching for the right option can be a time sink, but not if you work with us. Use our loans comparison service to jumpstart your search and quickly narrow down your options. 

As mentioned, we have already partnered with authorised financial lenders that offer the personalised financing solution you need. 

FAQs for small online loans

Where can I get a small loan online?

In South Africa, you normally get a loan from various financial institutions like banks, credit unions, and online lenders. However, not all offer small loans since it’s more profitable when people borrow larger amounts. 

So, you’ll need to sift through possibly hundreds of options to find the deal that’s best for you. Fortunately, you can skip the legwork because when you apply for a loan through, the loan offers are presented immediately.

How do I choose the best online small loan for me?

When comparing loan options using, be sure to consider these essential features:

Loan amount

Check the minimum and maximum loan amount you can borrow to see if it’s in the right range.

Loan terms

How long do you have to repay the money? Again, the monthly repayments should match your budget, but keep in mind the longer the term, the more instalments you have to repay.

Interest rates

The lower the interest rate, the less you pay. Your interest rate is generally based on your credit score.

Fees and charges

Lenders usually charge initiation fees and monthly service fees. Check if any additional fees apply.

Repayment options

Some lenders let you apply online and pay online. If you agree to repay via automatic deductions, you won’t have to worry about missing your due date.

Other requirements

You might need to meet the minimum income and credit score requirements.

Will applying for a small loan online impact my credit score?

Yes. That’s because the lender will check your credit report. There are two types of credit checks: Soft checks and hard checks. 

A hard credit check is linked to a loan application, while a soft check is not. You might see a small drop in your credit score after a hard credit check, but it will bounce back once you start making monthly repayments on time.

How soon can I get the money?

The turnaround time for small online loans varies from lender to lender, but it’s usually within 48 hours. Some lenders even offer same-day loans if you apply before a certain time. However, larger loans may take up to two weeks or more.

If you need the money in a hurry, you can always ask the lender how long it will take before applying.