Registered lenders that lend R1 000 online
All of these lenders take applications on their own website, and some also in an app. CreditBar (NCRCP23238) lends R500 to R5 000 over 7 to 61 days. Jabulani Money (NCRCP22362) lends R500 to R4 000. CrediWise (NCRCP22496), LendPlus (NCRCP17814) and Prime Loans (NCRCP20937) lend R500 to R4 000 over 5 to 35 days.
Most registered short-term lenders start at R500, so R1 000 is well within a first loan. Which of them consider you depends on your income, your bank and your credit record: our page on small loans shows that in four short questions.
How an online application works
You fill in the lender's form with your ID number, contact details, employer and income. The lender then reads your bank statements, either through a secure link to your bank or as PDFs you upload, and checks your credit record.
If it approves you, it shows a quotation with the amount, the repayment date and the total you will repay. You sign online, and the money is paid into your bank account, often on the same day once the checks are done. A lender that pays out before it has seen your income has skipped a step the law requires.
What a R1 000 loan may cost
R1 000 repaid within six months is short-term credit. Interest may be at most 5% a month on a first such loan in a calendar year, plus a capped initiation fee and a monthly service fee with VAT. Together, R1 000 may cost at most R270.26 over 7 days and R308.07 over 30 days.
The fixed fees weigh more on a small amount, so a short term and an amount close to what you need keep the cost down. The quotation before you sign gives the exact total in rand.
What lenders ask for
An SA ID, a bank account in your name, a regular income paid into that account and, usually, your latest three months' bank statements. You should be 18 or older; some lenders set a higher minimum age or a minimum income.
Every lender must check that you can afford the repayment. An advert that promises a loan with no checks at all is not from a registered lender.
Apps and websites
An app is another way into the same loan: the same assessment, documents and cost caps apply. Our guide on loan apps lists which registered lenders have one and how to tell a real app from a copy.
Signs that an online loan is a scam
A request to pay an admin fee, insurance or a release fee before the money arrives; a lender that contacts you on WhatsApp first; a name you cannot find on the National Credit Regulator's register. The regulator calls upfront payments unlawful. A registered lender adds its fees to the loan and never asks for your banking PIN or OTP.