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Payday loan with no credit check

Find out how to compare lenders that won't check your credit report.

Name Product Minimum Loan Amount Maximum Loan Amount Term of Loan Turnaround time
Wonga Short Term Loan
Wonga Short Term Loan
R500
R8,000
4 days to 3 months for new customers, up to 6 months for existing customers
As soon as possible after an application has been approved
Apply for a first time loan up to R4,000 and have the ability to pay off your loan sooner to save on charges
Lime Quick Loan
Lime Quick Loan
R300
R5,400
5 to 37 days
By 7 pm on the same day
Borrow from Lime and you can take advantage of its loyalty program, which may cut the cost of future borrowing. Loan approval can take as little as five minutes.
FASTA Instant Credit
FASTA Instant Credit
R500
R8,000
5 weeks
Get approval in minutes
Get up to R8,000 in cash, in-store credit or online vouchers with a loan from FASTA. Pay back your loan amount in up to three instalments.
MPOWA Finance Loans
MPOWA Finance Loans
N/A
R8,000
5 weeks
By 5pm on the same day
Apply for a loan of up to R8,000 with MPOWA. This lender offers a very fast online approval process; you could receive funds in your account in just two hours.
Creditgenie Loan Assist
Creditgenie Loan Assist
R5,000
R150,000
Varies per lender
Varies per lender
Access to a financial wellness programme and round-the-clock customer support are among the benefits of choosing a personal loan with Creditgenie.
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Compare payday loan options in South Africa

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If you have a bad credit history, you could apply for a payday loan without a credit check. These loans are more expensive and come with short repayment terms. You will have to provide your bank statements, income and employment details in the application. If your application is successful, you could access funds in a very short period of time.

Find out about how a payday loan with no credit check works.

What does “no credit check” mean?

Am I eligible for a no credit check payday loan?

Before applying for a payday loan, you should keep in mind:

Costs. A payday loan is costly. As these loans are a risky form of finance, lenders charge more than they would for other loans.

Here are some of the criteria you usually have to meet:

Does everyone who has bad credit need a “no credit check” loan?

Simply put, no. There is a range of lenders that will consider you for a loan if you have bad credit, and they will check your credit history. Just as the case with no credit check loans, bad credit loans are approved using the information you provide in the application, such as how much you earn and whether or not you are employed. Bad credit lenders may also use your credit history to help make their decision, but bad credit doesn’t mean they won’t approve you.

If you have bad credit, you may want to compare your no credit check and bad credit options to see which is right for you.

How does the application process work?

Bear in mind the application process will differ between lenders, but usually, when you apply you will be asked for read-only access to bank statements from the last 90 days, details about your job or other income streams and how much you earn.

If the lender approves the loan, the agreement will detail the agreed amount, the loan period, associated fees and interest rate p.a. It’s essential to read and understand this contract, especially the information about what happens if you can’t repay the no credit check loan.

Applications are submitted online and usually approved quickly. If you meet the criteria and supply all the necessary information, the lender will often make a same-day deposit into your account.

How can I avoid the risks of no credit check loans?

There are a few risks with payday loans, but you can avoid many of these by doing the following:

  • Make sure the lender you are applying with is reputable. Check the lender has a credit licence and is easy to contact. The National Credit Regulator (NCR) is the regulator of of the South African credit industry. Check to see if the lending provider is registered with the NCR.
  • Don’t apply for a loan you can’t afford. No matter what financial situation you’re in, it’s not a good idea to apply for a loan you know you can’t repay.
  • Avoid applying multiple times. Every loan application shows up on your credit file. While these lenders might not consider your credit history, a lender will list every request on your file. Several applications within a short period negatively affect your overall credit rating.
  • Check what fees the lender will charge. Check out the lender’s website for the fees, terms and conditions. You should also check what the loan provider will charge if you are late with a payment or default on the loan.
  • Consider if you actually need the loan. Once you sign the loan agreement, you’re bound to its conditions until you repay the no credit check loan, including interest and associated fees. Typically these loans are unsecured, which means the lender can initiate legal proceedings against you if you can’t repay.

How can I compare no credit check loans?

Here are the factors to consider when comparing no credit check loans, from lenders that don’t check your credit history:

  • Loan amounts. Lending criteria and amounts do differ, so your choice should depend on which lender can best accommodate your borrowing needs.
  • Loan terms. The size of the loan determines the repayment period and associated fees. Shop around to see which lenders offer repayment terms that best suit your financial situation.
  • Fees. Different loan amounts imply different fee structures, and other fees may apply for missed payments or settling the loan before the end of the loan period.
  • Application time and turnaround. Thanks to online application forms and read-only access to bank statements, lenders can evaluate your situation almost immediately and approve applications quickly. Depending on when you apply, money is usually available on the same day or within one business day.

Frequently asked questions about no credit check loans

Are no credit check loans guaranteed?

No loan is ever “guaranteed”. If you see a lender promising guaranteed approval, you shouldn’t apply. Legitimate lenders that offer loans with no credit check still need to assess whether you can repay the loan, so will check your income, employment and bank statements to make sure.

I need the loan for an emergency, how quickly will I receive the funds?

How quickly you receive funds differs between lenders. Typically, you will receive your approved funds the following business day if you confirm your loan before approximately 4pm on a business day. Again, this differs between lenders, so it is best to check.

Besides bank statements and proof of income, what other information do I need to provide?

You should also have the following handy when applying:

  • Driver’s licence or another form of ID, e.g. passport, Smart ID card
  • Utility bills

Will the lender contact my employer?

In some cases, yes. The lender might need to verify you are indeed employed and receiving an income, especially since there’s no credit check for this loan type. A loan provider may specify on its website that it doesn’t tell your employer you’re applying for a loan.

Can I repay my loan early?

Some payday lenders will let you repay your loan early and don’t charge you an additional fee. However, you need to check the loan provider’s terms and conditions to make sure.

Are no credit check loans legal?

Yes, they are legal, if a lender is sure you won’t face financial hardship or struggle to make repayments.

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