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Legit Online Loan Apps in South Africa

By Oluchukwu Ikemefuna

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Navigating through the multitude of exceptional loan apps that provide top-notch services and features can be overwhelming for customers seeking quick payday loans. With numerous enticing options available, it’s easy to feel spoiled for choice. This article aims to alleviate that burden by presenting a curated list of some of the best legit online loan apps in South Africa.

Also read: How to Get a Loan from Ippis

Legit Online Loan Apps in South Africa

In this article, we compile a selection of the best legitimate online loan apps in South Africa, sparing you the hassle of searching for apps that could potentially harm your financial stability instead of providing relief. It’s important to note that this list is not ranked in any specific order; each app mentioned here has its own strengths and weaknesses, based on ratings from app stores and online sources.

When including a loan app on this list, we consider factors such as the ease of conducting transactions through the app, its efficiency in processing loan requests, the interest rates offered, repayment terms, and other relevant aspects.

Now that we have this out of the way, please keep reading.

Also read: How to Apply for Sterling Bank Loan


Absa Group Limited (JSE: ABG), formerly known as Amalgamated Banks of South Africa (ABSA) until 2005 and Barclays Africa Group Limited until 2018, is a multinational banking and financial services conglomerate headquartered in Johannesburg, South Africa. As the first on the list, we consider it one of the legit online loan apps in South Africa.

Absa: Legit online loan apps in South Africa

Operating in 10 Sub-Saharan African countries including Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, Tanzania, Uganda, and Zambia, the conglomerate also maintains representative offices in Namibia and Nigeria, along with international offices in London and New York City, and a technology support office in the Czech Republic. As of 2022, Absa had assets totaling US$97 billion.

Applying for an Absa Personal Loan

To apply for a personal loan with Absa, you will need your ID book or card, proof of residence (not older than 3 months), and your last 3 months’ payslips or bank statements. You can apply via the Mobile Banking App, Online, through a branch, or by calling 0860 100 372.

Absa offers flexible personal loans of up to R350,000 with repayment terms ranging up to 84 months. They also provide the option to consolidate multiple loans into one Personal Loan with competitive interest rates. To qualify for a personal loan over 12 months or more, you must earn a regular monthly income of at least R2,000 per month, have a bank account where your income is deposited, and be 18 years or older. For smaller personal loans over 2 to 6 months, you need to earn a monthly income of at least R1,500.

The interest rates offered are personalized, starting from a minimum of 13.75% per annum. An example of estimated monthly repayment on a R50,000 loan taken over 36 months at an interest rate of 18% per annum would be R2,113, inclusive of all service and initiation fees. Additionally, Absa offers a Credit Protection Plan covering death, disability, critical illness, terminal illness, or loss of income, which is mandatory for all personal loans.


Capfin loans present a competitive offering that few financial institutions in South Africa can match. Before diving into the specifics of these attractive loan packages, let’s first gain an understanding of Capfin and its background.

Capfin: legit online loan app in South Africa

Capfin is widely recognized as one of South Africa’s leading loan providers. Thus, before proceeding with a Capfin loan application, it’s essential to comprehend the products they offer.

Capfin operates as a division of Century Capital (Pty) Ltd and is registered with the National Credit Regulator (NCR) as a credit provider in South Africa. Furthermore, Capfin SA (Pty) Ltd is a wholly owned subsidiary of Pepkor, an international group with offices in Australia, the United Kingdom, and Mauritius, listed on the Johannesburg Stock Exchange.

Capfin’s operational headquarters are situated in Kuils River, Cape Town, with Registration Number 2011/126985/07 – NCRCP11812. The primary product provided by Capfin is the Capfin personal loan, ranging from R1000 to R50,000. Upon securing a loan from Capfin, you are offered a repayment period of either six months or twelve months.

Capfin imposes an interest rate of up to 5% per month for the six-month loan option and a maximum of 28% for the twelve-month loan. However, it’s important to note that this interest rate is personalized based on your credit score, with higher credit scores resulting in lower Capfin interest rates.

Also read: How to Qualify for Capfin Loan


FinChoice Africa Ltd., registered as a credit provider (NCRCP 8162), and FinChoice SA (Pty) Ltd., an authorized financial services provider (FSP no. 52725), facilitate online loan applications. Guardrisk Life Limited operates as a licensed life insurer under the Insurance Act 18 of 2017 and is also an authorized financial services provider (Registration Number 1999/013922/06 and FSP No. 76). They offer loans of up to R40,000 for new customers and provide tailored services and products for existing customers.

Finchoice: legit online loan apps in South Africa

Customers can qualify for up to R8,000 with a repayment period of 6 months. Successful repayment may lead to eligibility for higher loan amounts. Additionally, FinChoice offers the FinChoice Personal Protection Plan, providing coverage in case of job loss, disability, or death.

Also read: How to Apply for Finchoice Loan Application


Izwe is a well-established, licensed pan-African financial services provider (FSP) with a 15-year track record in emerging markets. Initially focused on salary-backed lending for formally employed, underbanked individuals, Izwe has expanded to offer secured loans to SMEs across all regions, along with savings options in Ghana.

They cater to economically-active customers with purpose-based loans, savings, and investment solutions. Their purpose-based personal loans are tailored to your individual needs, featuring affordable monthly payments.

Whether you’re looking to build or renovate your dream home, fund your child’s education, or consolidate existing debt, Izwe offers personal loans with terms ranging from 9 to 42 months, ranging from R6,000 to R99,000.

Key benefits include:

  • Direct payment into your bank account for immediate availability of loan funds.
  • Fixed monthly installments and interest rates throughout the loan term.
  • Convenient access to our products from your home or workplace.
  • Streamlined verification and qualification processes with minimal documentation required.

Requirements for obtaining a loan:

  • Cellphone number
  • Proof of income (3 months bank statements or payslips)
  • South African ID number

Loan products offered by Izwe include cash loans and student loans.

Also read: How to Apply and Get Pep Loan


Life often brings unexpected expenses like urgent car repairs or sudden appliance failures, leaving your bank balance strained. In such moments, short-term loans can be a lifeline. Wonga steps in as a dependable ally during financial uncertainties.

As one of the legit online loan apps in South Africa, Wonga specializes in short-term loans where borrowers receive a small sum and repay it with interest within a short period. It serves as a financial tool to address emergencies rather than a long-term solution.

To apply for Wonga loans, visit their website and click on the loan application button. Similar to Boodle, Wonga provides an interest calculator to help estimate costs before applying, ensuring informed borrowing decisions.

During the application process, gather your personal details, employment information, and bank account details. Wonga may require proof of income, so keep your recent payslip or bank statement handy.

After you submit your application, you should await Wonga’s decision. If Wonga approves your application, they typically deposit your loan into your account within minutes.

Wonga enhances timely repayments by offering automatic repayment. When you apply for a loan, you register a debit card, and on the repayment date, Wonga automatically deducts the money. If there are insufficient funds, Wonga may attempt payment again.

There are no early repayment fees with Wonga loans. Repaying your loan early reduces the interest paid, as interest is charged only for the duration until the debt is cleared.

Late repayments incur a small charge after the repayment deadline (usually on the third day). Interest continues accruing for up to 30 additional days. The maximum repayment amount is double the loan value, ensuring repayment doesn’t exceed this limit.

Also read: Wonga Loan and How to Apply

FAQ on Legit Online Loan Apps in South Africa

Q: What are some of the best and legitimate online loan apps in South Africa?
A: Some of the top-rated and legitimate online loan apps in South Africa include Absa, Capfin, FinChoice, Wonga, and Izwe.

Q: What criteria make these loan apps stand out?
A: These loan apps stand out for their user-friendly approach, providing access to manageable loans with reasonable repayment terms and conditions.

Q: What are the income requirements to qualify for loans from these apps?
A: Income requirements vary depending on the loan term. For longer-term loans (over 12 months), you typically need a monthly income of at least R2,000. For shorter-term loans (2 to 6 months), the income requirement is R1,500 per month.

Q: Do these loan apps charge early repayment fees?
A: Wonga loans, for example, do not have early repayment fees. Borrowers can repay their loans early without incurring extra charges.

Q: How are loans repaid through these apps?
A: Loans can be repaid through automatic deductions from registered debit cards or bank accounts, ensuring timely repayments.


So there you have it, from Absa to Capfin, FinChoice, Wonga, and Izwe, these loan apps stand out among the best and most legitimate online loan providers in South Africa. Their excellence lies not only in providing access to loans but also in their user-friendly approach that ensures manageable repayment terms and conditions.

Whether you require a quick loan to bridge the gap until your next paycheck or need to address a small financial hurdle, these apps are reliable first options. Rest assured, you can trust them as they are among the top-rated and legitimate online loan providers in South Africa.

We will continue updating this article with additional loan apps that meet our criteria. For now, relax and anticipate payday with less stress, knowing these trusted loan apps have your back.

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Christian Maximilian
Christian Maximilian

I am a Software Engineer, technical writer, and overall tech enthusiast. For me, utilizing my skills as a Software Engineer to perform Technical Search Engine Optimization is not just a job, but something I gladly incorporate into my pastimes as well, and I have been doing this for over 3 years.

When I'm not coding or writing technical documentation, I enjoy listening to music and exploring new genres.

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