Top 10 Best Online Loan Apps In South Africa 2024

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Welcome to this post about the top 10 best online loan apps in South Africa by Afrokonnect blog. Loan apps have become quite popular in recent times as they offer an easier way to get a loan without having to worry about going to the bank or even providing collateral before being able to get a loan. 

If you are in need of a quick cash loan, you may want to consider using a loan app. While instant loans may be the fastest way to get the money you need, you can often find the repayment terms too strict and end up paying more than you need to.

To avoid these situations, it is advisable to take the time to research loan quotes online. Some free online loan calculators will help you find the best loan. With the invent of loan apps, you can now apply for a loan straight from the comfort of your home and get the money credited instantly.

There are many top loan apps where you can get your loan request verified without having to go through any stress or provide any collateral. In this article, we are going to show you the top 10 best loan apps in South Africa, mode of application and payment. 

Top 10 Best Legit Online Loan Apps In South Africa In 2024

10. Specta Online Loan App

Specta is an online lending platform that gives you loans of up to 5 Million in one transaction all within 5 minutes! No collateral, no paperwork and no visit to any office. With Specta, you can take care of urgent personal and business needs anywhere, anytime.

Types Of Loans You Can Get On Specta

  • Personal Loan/Specta For Individuals: You can apply for a personal loan of up to five million without collateral and you will get it in 5 minutes. 
  • Business Loan/ Specta For Business: You can boost sales with Specta by signing up to start receiving payments from customers with Specta spending limits. You can also get up to N2M to start or grow your business

You can also apply for a credit card on Specta. That way, you don’t have to deal with the problem of insufficient funds.

9. Izwe Online Loan App

The Izwe Group is a financial institution based in South Africa. The company was formed in 2004 and began operating in the country in 2014. Izwe app provides unsecured, check-off loans to government and private sector employees and members of selected parastatals

The Izwe online loan app offers short term loan with flexible repayment plans and competitive interest rates. You can apply for a loan, get an answer in five minutes and the money will be in your account in less than 24 hours.

The loan can be used to pay for anything from school fees to rent or even buying a new car. If you are a student, you can apply for up to R2000 online and pay back within a period of twelve to sixteen months depending on your financial capability. The loan is available for any purposes, it is easy to get and it is a very convenient way to get money to solve your problems. 

How To Apply For Izwe Loan

To apply for an Izwe app loan, you need to be 18 years old, hold a valid South African ID, and earn at least R2,000 per month. Bank statements are necessary proof of your income. Izwe team will then determine whether you can afford the loan and provide you with customer protection insurance.

You can fill up a form online with the relevant details once you sign in and take a loan of up to R2000. You can pay back in equal installments over a period of twelve to sixteen months and you do not have to worry about any hidden charges. 

8. Absa Loan App is one of the Best Loan Apps In South Africa 

The Absa loan app allows you to apply for a short term unsecured loan using your smartphone. You can speak with consultants for assistance, they answer any questions you have and assist you in filling up the application form.

After you fill up and submit the application form, Absa will contact you to discuss the terms and conditions for the the loan. To get a loan, you must be employed and make at least R2 000 per month. Applicants can choose between a two to six-month repayment term. 

You can get four types of loans on Absa which are:

  • Personal loans 
  • Overdraft loans
  • Express loans
  • Consolidation loans

The benefit of the Absa loan app is that you can access your money from anywhere, it makes it easier to manage your finances and you can also pay back your loan on the app.

7. Lime Loans is one of the Best Loan Apps In South Africa

With the Lime Loan app, you can have access to cash and loans at anytime of the day without providing any collateral. The application process is easy and fast, you get your money immediately after you complete the application. 

How To Apply For Lime Loan 

  • Create an account and provide your personal details and documents 
  • Choose your preferred loan options
  • The money will immediately be transferred to your account. 

6. Finchoice Loan App

The Finchoice Loan app is another South African loan app that offers flexible short term loans. The repayment plan is easy and you can pay back at the end of the month. You have to be up to 18 years of age to be able to apply for a loan. 

How To Apply for Online Loan with Finchoice 

  • Create an account 
  • Provide your personal details and other requirements 
  • Choose your preferred option

5. Fasta Loan App

The Fasta Loan app is another easy to use app in South Africa to borrow money online. You can use the loan for rental payment, health emergency or any personal issue you’d like to solve. 

How To Apply for loan with Fast Loan App

  • Sign up with your mobile number
  • Provide a bank account where the money will be transferred into
  • Provide all the important details and information required of you. 

4. Unifi Loan App

The Unifi loan app is another loan app in South Africa that is easy to use. You can get fast loans of up to R8000 on the app. 

How To Apply for Online Loan with Unifi App

  • Create an account 
  • Provide the required information and documents
  • Fill out and sign the online application form. 

You must be employed and provide a proof of monthly salary payment before you can get the loan. Once you do and you meet the requirements, the money will be sent to you. 

3. Wonga Loan App 

The Wonga loan app offers easy short term loans to South African citizens up to the amount of R4000. The application process is completely online and once you meet the requirements, the money will be sent immediately. You must be a South African citizen, employed, 18 years of age and employed to be able to get a loan on Wonga. 

How To Apply

  • Fill up the application form and provide relevant details. 

2. RainFin Loan App

RainFin Loan app is also another online loan app in South Africa that offers easy loans to citizens. They offer loans of up to R750,000 and their interest rate is quite low. You must be up to 18 years of age, have a job and be a citizen of South Africa to be able to apply for a loan on RainFin.

1. Capitec Bank Loan App

Capitec bank loan app is an online platform that offers South Africans loans of up to R250,000. It is a very fast, easy and reliable way to get a loan. You are required to provide an ID card which shows that you are 18 years above, your latest pay slip and bank account. 

Conclusion about the Best Online Loan Apps In South Africa in 2024

Top 10 Best Online Loan Apps In South Africa

When looking for the best loan app in South Africa, you need to consider the type, the requirements, and the amount of money you want.

This will enable you to choose the appropriate loan app to borrow from. This is because some loan apps offer small amounts to help you when you run out of cash. Remember to be very vigilant when applying for loans. Do not give sensitive information to sources you do not trust in order to avoid being scammed. Also pay back loans you have taken at the stipulated time of payment. 

You have reached the end of this article about Top 10 Legit Loan Apps in South Africa. Thank you for reading to this point. Leave a feedback before you go.


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