It is always a good idea to find the best loan company in South Africa when looking for loans. Loan sharks will usually charge high-interest rates and require collateral, while most other lenders don’t offer any emergency funding. It’s always a daunting task to find the right Loan Company in South Africa. This article will give you the Ten Best Loan Companies in South Africa that are reliable and trustworthy.
With so many Loan Companies out there, it can be hard to know where to start your search for the perfect Loan Company. We’re here to help you navigate through all of those Loan Companies and select ten that are worth your time and money. The list includes some big names and smaller ones, so it should be easy for you to get your desired loan from one of them!
How we Collect Ten Best Loan Company in South Africa?
Our Expert Writers have been studying the top loan company trends for you. Our team of writers has narrowed down their favourite companies and will share these secrets with our readers! Before we finalize this list, we consider how reputable they are in the industry and what kind of loans they offer. We also looked at ratings and reviews to ensure that clients were satisfied with every aspect from the beginning until the end before recommending them here on our blog site. This will help you make the best choice. If many people are happy with the loans and service, then this lender must be perfect, and you can trust.
To finish Your Searching here, we bring the ten best Loan companies in South Africa. So let’s see the top loan company in South Africa.
Before discussing the best loan company, we have to know, what is Loan.
A loan is a sum of money that an individual or company borrows from a lender.
The best loan companies in South Africa are:
- Wonga Loans
- Nifty Credit
- Atlas Finance
- Letsatsi Finance and Loan (Pty) Ltd – Sunnyside
- Bayport Financial Services-Bellville, South Africa
- Bayport Financial Services South Africa
- Lestatsi Finance And Loans
- S a Home Loans
- Izwe Africa Group – South Africa Office
- ABSA Personal Loan Call Centre
1. Wonga Loans:
Wonga Loans is a lending company working in South Africa aiming to be the first option for getting instant loans. This company has focused on giving South Africans the best service possible, providing them with various safe loan offers they can get the same day.
Wonga Loan is different from other online lenders because their sophisticated risk and decision technology mean the application and approval process takes minutes. They are the first company in the world to automate the lending process entirely, and they can make wholly objective and responsible decisions around the clock. There’s no paperwork, no need to meet with a bank manager, and no sitting for hours on hold on the phone – their entire service is online and real-time. Wonga is also uniquely flexible, allowing applicants to choose precisely how much cash they want to borrow and for how many days they need it. Their customers aren’t forced to borrow a fixed sum they might not need or pay interest for any longer than necessary.
Wonga offers short-term loans for up to 3 months for new customers and six months for existing customers. They make money when their customers repay them quickly, not by continually extending a growing line of credit. They are serious about their commitment to responsible lending.
| Address | 14 Kloof St, Gardens, Cape Town, 8001, South Africa |
| Phone | +27861966421 |
| Social Media | https://www.facebook.com/wongaza |
| Website | https://www.wonga.co.za/ |
| Rating | 4.2 |
| Review | 33 |
2. Nifty Credit:
Nifty Credit committed to the financial well-being of customers. As a responsible lender, Nifty powered by smartadvance, registered and regulated by the National Credit Regulator (NCR), they abide by the laws to ensure that customer, are treated with respect and transparency at all times. At nifty, every loan is treated as a new one and each will undergo the necessary steps to ensure the full protection of their clients.
Nifty Credit is a registered online credit provider that offers personal online credit up to R12000, payable over a maximum of 12 months. Using smart technology, you can apply for a loan from anywhere, anytime that suits you. Their loan application is completely online and takes just a couple of minutes to complete. Once your application has been submitted for final review, you will get a decision within the hour.
Nifty Credit’s goal is to help you take control of your financial health today. So you can make better financial decisions for your future.
At nifty they understand that life happens and sometimes things that may be out of your control can be quite pricey. Nifty Credit is here to assist when you need some bucks to get out of a tight spot, with an online loan that is easy, quick, and safe, so you can keep going and get more done.
| Address | 1st Floor, The Wedge, 43 Garsfontein Rd, Waterkloof, Pretoria, 0045, South Africa |
| Phone | +27120450606 |
| Social Media | https://www.facebook.com/niftycredit |
| Website | http://www.nifty.financial/ |
| Rating | 3.9 |
| Review | 8 |
3. Atlas Finance:
Atlas Finance is a micro-finance company, started in 1994, by CEO Jack Halfon, with its first branch in Eloff Street, Johannesburg. Although the company has grown to 220 units, they remain a family-owned and managed business. With branches all over the country, they’re sure that they have one just around the corner from you!
Atlas Finance company goal is to become the most trusted and preferred personal-loan provider; to assist their clients in achieving their goals by providing them with loans responsibly, building their trust by serving them with dignity, respect and sincerity.
Atlas Finance combines the care, attention to detail and dedication of a family-run business with the stability, professionalism and credibility of one of South Africa’s leading financiers.
The heartbeat of Atlas Finance lies in assisting you according to your financial needs through personal loans. Since their inception over 27 years ago, they have been committed to doing all they can to provide you with an affordable and appropriate loan. Whatever the reason, they will always treat you fairly and in confidence.
Atlas Finance is a Registered Credit Provider and proud member of Micro-Finance South Africa (MFSA).
| Phone | 0800 204 679 |
| customercare@atcorp.co.za | |
| Established | 1994 |
| Website | https://atlasfinance.co.za/ |
| Rating | 4.5(avg.) |
| Review | 17(total) |
4. Letsatsi Finance and Loan (Pty) Ltd – Sunnyside:
Letsatsi has been operating for more than 21 years in South Africa, covering the length and breadth of the nation, with over 50 branches countrywide.
Letsatsi Finance & Loan is a Micro Finance Company that was established in 1999.
Their head office is situated in Rivonia in Johannesburg Gauteng.
Its mission is to provide financial products to its clients at an affordable price.
Their vision is consistently providing the most reliable, efficient, affordable and responsible financial services to all their clients. Aiming to uplift their living standards based on their financial needs and hopeful to help their clients and future clients achieve financial wellness and freedom.
| Address | Shop 4, Myers Place Complex Cnr Robert Sobukwe &, Meintjies St, Sunnyside, Pretoria, 0002, South Africa |
| Phone | +27123412654 |
| Established | 1999 |
| Website | http://www.letsatsifinance.co.za/ |
| Rating | 4.8 |
| Review | 5 |
5. Bayport Financial Services- Bellville, South Africa:
Bayport Financial Services South Africa was established in 2004, and they have rapidly become one of the largest non-bank providers of unsecured credit and allied products in South Africa.
Through their multifaceted nationwide distribution, they can effectively serve the needs of their customers no matter how remote their location. A combination of far-reaching branch infrastructure, mobile consultants and call centres enable them to touch many lives through their innovative loans and insurance products.
Through their shareholders’ commitment and depth of experience, board and management team, Bayport South Africa can embrace the opportunities presented by the National Credit Act (NCA) and an increasingly vibrant unsecured credit market.
Their role as responsible members of society is to provide services of the highest standard.
Bayport Financial Services South Africa make your dreams come true with their Loans.
| Address | Shop 56B, Middestad Mall 16 Charles, Charl Malan St, Bellville, Cape Town, 7530, South Africa |
| Phone | +27212034159 |
| Established | 2004 |
| Social Media | https://www.facebook.com/BayportSA/ |
| Website | https://www.bayportsa.com/ |
| Rating | 3.4 |
| Review | 5 |
6. Bayport Financial Services South Africa:
Bayport Financial Services South Africa was established in 2004, and they have rapidly become one of the largest non-bank providers of unsecured credit and allied products in South Africa.
Their role as responsible members of society is to provide services of the highest standard.
Bayport Financial Services South Africa make your dreams come true with their Loans. It is easy to apply for a Bayport personal loan of up to R250,000 with their simple online loan application process and personalised service. Once you have registered, it takes a minute to determine if you qualify for a Bayport personal loan. Their online loan application process allows you also to upload all documents required to complete your application.
Apply for a short-term personal loan online in five easy steps:
i) Register
ii) Apply
iii) Affordability assessment
iv) Approve
v) Receive money
| Address | Bayport House, 3 Alice Ln, Sandown, Sandton, 2196, South Africa |
| Phone | +27872874000 |
| Social Media | |
| Website | https://www.bayportsa.com/ |
| Rating | 3.3 |
| Review | 37 |
7. Letsatsi Finance and Loan (Pty) Ltd – Braamfontein:
Letsatsi Finance & Loan has been operating for more than 21 years in South Africa, covering the length and breadth of the nation, with over 50 branches countrywide.
Letsatsi Finance & Loan is a Micro Finance Company that was established in 1999.
From one-month and short-term loans to long-term repayments and debt consolidation. They promise fast approvals and flexible repayment terms.
Letsatsi Finance & Loan offers 3 type of loan:
One month loan
Short term loan
Long term loan
| Address | Shop 21, Geldenhuys Bldg, 33 Jorissen St, Braamfontein, Johannesburg, 2001, South Africa |
| Phone | +27113398949 |
| Established | 1999 |
| Website | http://www.letsatsifinance.co.za/ |
| Rating | 5.0 |
| Review | 2 |
8. SA Home Loans:
SA Home Loans is a mortgage finance provider with no other interests to distract them from their true purpose: to offer the best in every service associated with being a home loan provider. These services cover the full spectrum of homeownership and home financing – from origination and credit approval to registration and ongoing loan servicing. The company was launched to South African homeowners in February 1999 and is today a proven entrepreneurial success story, having originated well over 100 000 residential loans in under a decade.
SA Home Loans Mission in Property Financing – Providing a Fresh Approach to Home Loans.
Transparency and Care – Your Home Loan is not a Hidden and Locked-in Asset
SA Home Loans is open and transparent in every aspect of their dealings with you: there are no hidden charges, no fine print to hide behind in the future, no unpleasant surprises. Every query and each question is answered openly and honestly.
| Phone | 0860 2 4 6 8 10 |
| Established | 1999 |
| Social Media | https://www.facebook.com/sahomeloans |
| Website | https://www.sahomeloans.com/ |
| Rating | 2.5 |
| Review | 4 |
9. Izwe Africa Group – South Africa Office:
Izwe Africa Group is a trusted financial service provider in Africa.
Izwe Africa Group is a dynamic micro-financier and insurer, rapidly growing across the continent. Since expanding from South Africa in 2008, they have followed a steady and managed progression upward and continually focused on developing a world-class business through strategic location choices.
Izwe means ‘nation’. It is the essence of what they stand for: uplifting people for the greater good of their country. They provide the tools they need to build brighter futures and stronger nations, fuelled by their participation in a growing economy.
Izwe Africa Group facilitates unsecured loans and ensures reliable collection through salary deductions and direct debits, meeting customer needs while protecting their bottom line.
They offer asset-backed lending and other secure lending products in the absence of formal employment, giving entrepreneurs and business owners access to the funds they need to grow their businesses against the value of their vehicles.
| Address | Houghton Estate Office Park, 2 Osborn Road, Houghton Estate, Johannesburg, 2198, South Africa |
| Phone | +27102067400 |
| Established | 2008 |
| Social Media | https://www.linkedin.com/company/izweafricagroup/ |
| Website | http://www.izweafrica.com/ |
| Rating | 3.8 |
| Review | 4 |
10. ABSA Personal Loan Call Centre:
Absa is a truly African brand, inspired by the people they serve and determined to be always brave, passionate and ready so that they can make Africa proud.
Realise your dream – however big or small. Absa is here to help bring your goals within reach. Whether it’s for your wedding, a car, your studies, or a sudden medical expense, They can help you with a personal loan.
For Myself:
Personal Loan, Express Loan, Instant Loan
For a Home:
Absa Home Loan, Home Loan, Loyalty Home Loan
For a Car: Instalment Sale Agreement, Lease Agreement, Rental Agreement, eContract
For my Studies:
Study Loan, Private banking Finance Solutions, Structured loans, Vehicle finance
Personal unsecured loan:
Put your financial plan into action with a personal unsecured loan that requires no security or guarantee.
Personal secured loan:
Open a world of opportunities and do the things you want to do with a personal secured loan.
| Address | Rissik St, Newtown, Johannesburg, 2001, South Africa |
| Phone | +27860100372 |
| Social Media | https://www.facebook.com/AbsaSouthAfrica/ |
| Website | http://www.absa.co.za/Absacoza/Individual/Borrowing/Personal-loans/Personal-loan |
| Rating | 2.6 |
| Review | 11 |
Conclusion:
When finding a reliable loan company in South Africa, you should not rely on advertising alone. Catchy slogans and high-quality commercials might convince you, but this does not mean that the company is trustworthy or has reasonable rates. It can take some time to research all of these aspects of an organization before deciding where your money will go. However, at Top Ten Reviews, we have compiled a list of the ten best loan companies in South Africa, which seem promising out of our thorough investigation into each one’s pricing structure and business practices. Check out our top ten here for more information on how these could very well be considered as “the best” when it comes time to make the decision.