Loans for bad credit

If you have bad credit or have been blacklisted, you can still access bad credit loans of up to R150,000 with competitive interest rates and flexible repayment terms - alternative loan options for people with bad credit available online.

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Quick Online Loan Approval for People with Bad Credit

Bad credit loan lenders approve loans for people who are blacklisted or have bad credit. Your loan approval is based on affordability rather than credit history.

Bad credit loans offer consumers a same-day lending option that is 100% online.

Frequently Asked Questions

Loan options for people with Bad credit

As a result of insufficient income and overwhelming debts, you could easily find yourself blacklisted and unable to access any form of credit. This leaves people and families devastated and burdened by their inability to improve their financial situations and do the things that matter the most to them.

Bad credit: Understanding your credit score & risk profile

All South African consumers have a credit profile that is essentially a history or report of all their financial commitments and repayment or non-payment. If you take out a personal loan this will be recorded on your profile along with information as to whether or not you've made the agreed repayments.

If not, this non-payment will be recorded on your credit profile and will lower your credit score. On the other hand, honouring your repayments will have a positive effect on your credit profile.

Having bad credit or being blacklisted simply means that you have not honoured your credit agreements and have been flagged as a high-risk borrower. This also means that mainstream lenders and banks will be unwilling to provide you with a loan - be that a home loan, car finance or even a small personal loan.

How to get a loan with Bad credit?

Bad credit loans are also sometimes referred to as blacklisted loans and simply refer to a personal cash loan that is offered to an individual that has a bad credit history.

One way to get a loan from a bank when you are blacklisted is to offer up security in the form of your home or equity in your home. This is risky for you as the borrower since if you do not keep up with the repayment you may be facing repossession.

On the other hand, offering security allows you to secure a personal loan with bad credit and a lower interest rate to boot. Another form of security is that of your vehicle, provided that you own it outright, you could use it to secure a loan quickly and easily.

Finally, if you're looking for a small, unsecured short-term loan you could opt to make use of a bad credit lender who deals specifically with people who are blacklisted or have poor credit. This, although one of the only options for those with a tainted credit history may be significantly more expensive than a secured loan and will only offer you a small sum of money.

Secured loans for Bad credit are ideal for people who:

  • Own their homes or vehicles
  • Have been refused unsecured credit by their bank
  • Are blacklisted and cannot pass a credit check
  • Need a larger amount of credit than is offered by an unsecured loan
  • Have sufficient monthly income to repay a loan
  • Want a consolidation loan and have sufficient income to repay the new loan.

Unsecured loans for Bad credit are ideal for people who:

  • Are blacklisted or have bad credit
  • Do not own their own homes or vehicles
  • Do not want to offer up security in exchange for a loan
  • Need a small amount of money
  • Have been refused a loan by a bank
  • Have sufficient income to make payments on a new loan

What do I need to qualify for a Bad credit loan?

In order to qualify for a loan with bad credit, you must;

  • Be a South African Citizen with a green bar-coded ID or a smart ID card,
  • Be over the age of 18 (some lenders require applicants to be over 21), and
  • Have a monthly income that exceeds R3,000.00.

Applicants who do not meet the above-mentioned criteria, have declared bankruptcy, or are under debt review will not be granted a loan.

You will likely also have to provide;

  • a certified copy of your ID
  • a recent payslip
  • valid proof of address

If you are opting for a secured loan you will have to provide details on the security as well as relevant supporting documents.

Who gives loans to people that are Blacklisted?

In South Africa there are only a few registered credit providers that specialize in bad credit loans and these are conveniently listed below to make your process of finding a suitable lender easier. In the meantime, it's important for you to know what to look for when comparing these lenders and how to avoid getting yourself into financial trouble.

One of the first things that you need to look at when evaluating possible lenders is that they are registered with the National Credit Regulator. This ensures that they are compliant with the laws regulating credit providers and that they satisfy the government's requirements to trade.

How do I compare loans for Bad credit?

Once you've ensured that the credit provider is registered with the NCR, you can start looking at the interest rates offered and the features of their loans. You can begin by comparing the offers made by the various lenders, including, how much they will lend, what their interest rates look like and if they charge additional fees.

Our website makes this easy by providing you with a summary of all the most important loan features and details of each provider in a clear and simple manner. You can start by looking for lenders who are offering the loan amount that you are looking for and then eliminating them based on their Annual Interest Rate (APR).

How to apply for a Bad credit loan online?

The majority of bad credit lenders, particularly those listed on this website offer online loan applications. This means you're free to apply for a loan from the comfort of your own home and do away with face-to-face meetings and long queues.

The first step would be to fill in an application form; this form will request your personal information, contact details and employment history as well as how much you want to borrow, for what purpose and for how long. Once you're done with the form you will either be asked to upload your supporting documentation or, you will receive an email with further instructions.

Bad credit loan calculator

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The interest rate of a loan will vary based on your credit score and risk profile.
This loan calculator is for illustration purposes only.
The use of this quick loans calculator is subject to our terms of use.

List of direct lenders offering Loans bad credit

  1. Hippo Bad credit loan

    Hippo

    • Loans up to R200,000
    • Term up to 72 months
    • Interest from 24.75%
  2. Boodle Bad credit loan

    Boodle

    • Loans up to R4,000
    • Term up to 32 days
    • Interest from 60%
  3. uBank Bad credit loan

    uBank

    • Loans up to R180,000
    • Term up to 72 months
    • Interest up to 27.50%
  4. Hoopla Loans Bad credit loan

    Hoopla Loans

    • Loans up to R250,000
    • Term up to 60 months
    • Interest from 20%
  5. Blink Bad credit loan

    Blink

    • Loans up to R4,000
    • Term up to 65 days
    • Interest up to 38%
  6. Fincheck Bad credit loan

    Fincheck

    • Loans up to R250,000
    • Term up to 72 months
    • Interest from 16%
  7. Binixo Bad credit loan

    Binixo

    • Loans up to R9,000
    • Term up to 65 days
    • Interest from 10.5%
  8. Izwe Loans Bad credit loan

    Izwe Loans

    • Loans up to R250,000
    • Term up to 60 months
    • Interest from 27.75%
  9. EC Loans Bad credit loan

    EC Loans

    • Loans up to R120,000
    • Term up to 84 months
    • Interest from 28%
  10. Finsap Bad credit loan

    Finsap

    • Apply in 5 minutes
    • Reliable loans
    • Interest from 5.0%
  11. Global Finance Bad credit loan

    Global Finance

    • Loans up to R100,000
    • Term up to 60 months
    • Free online quote
  12. Mr Cash Loans Bad credit loan

    Mr Cash Loans

    • Loans up to R200,000
    • Term up to 72 months
    • Interest from 28%
  13. Hopon Loans Bad credit loan

    Hopon Loans

    • Loans up to R50,000
    • Term up to 36 months
    • Interest from 63%
  14. SA Personal Loans Bad credit loan

    SA Personal Loa...

    • Loans up to R150,000
    • Term up to 60 months
    • Interest from 21%
  15. TA Consulting Bad credit loan

    TA Consulting

    • Affordable repayments
    • Term up to 60 months
    • Interest from 14%
  16. Low Credit Loans Bad credit loan

    Low Credit Loan...

    • Loans up to R150,000
    • Term up to 60 months
    • Interest from 32.1%
  17. Ayoba Loans Bad credit loan

    Ayoba Loans

    • Loans up to R250,000
    • Term up to 60 months
    • Interest from 28%
  18. Xcelsior Bad credit loan

    Xcelsior

    • Loans up to R500,000
    • Term up to 36 months
    • Interest from 27%
  19. My Financial Help Bad credit loan

    My Financial He...

    • Loans up to R8,000
    • Term up to 5 years
    • Interest from 28%
  20. EZI Loans Bad credit loan

    EZI Loans

    • Loans up to R8,000
    • Term up to 6 months
    • Interest from 32.1%
  21. Loans Inc Bad credit loan

    Loans Inc

    • Loans up to R50,000
    • Term up to 60 months
    • Interest from 25%
  22. Low Budget Loans Bad credit loan

    Low Budget Loan...

    • Loans up to R3,000
    • Term up to 6 months
    • Interest from 28%
  23. SA Cash Loans Bad credit loan

    SA Cash Loans

    • Loans up to R150,000
    • Term up to 60 months
    • Interest from 23%
  24. Loan SA Bad credit loan

    Loan SA

    • Loans up to R150,000
    • Term up to 60 months
    • Interest from 27%
  25. Easy Cash Loans Bad credit loan

    Easy Cash Loans

    • Loans up to R150,000
    • Term up to 60 months
    • FREE applications
  26. Iloans Bad credit loan

    Iloans

    • Loans up to R200,000
    • Term up to 60 months
    • Interest from 28%
  27. Blacklisted Personal Loans Bad credit loan

    Blacklisted Per...

    • Loans up to R200,000
    • Term up to 72 months
    • Interest from 22.3%
  28. Hilton Finance Bad credit loan

    Hilton Finance

    • Loans up to R2,500
    • Term up to 90 days
    • Interest from 60%
  29. Loan Tracer Bad credit loan

    Loan Tracer

    • Loans up to R200,000
    • Term up to 60 months
    • Interest from 10.71%
  30. Loan Connector SA Bad credit loan

    Loan Connector ...

    • Loans up to R250,000
    • Term up to 60 months
    • Interest from 10.71%
  31. Loan Locator SA Bad credit loan

    Loan Locator SA

    • Quick online application
    • Low interest rates
    • Flexible repayment terms
  32. Finance Wizzard Bad credit loan

    Finance Wizzard

    • Easy online application
    • Affordable interest rates
    • Flexible repayment terms
  33. Loan Match SA Bad credit loan

    Loan Match SA

    • Affordable loans
    • Low interest loans
    • Affordable repayment terms