Instant Short Term Loans

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We normally fall short of cash in the most inappropriate of moments. Unfortunately, banks are rather clumsy when it comes to personal loans, no matter whether you apply for R500 or R50 000. The bank procedure is all the same – you have to visit the bank, give a pile of papers, wait for a few weeks and there is no guarantee that you will be approved. This is when you will regret not having tried applying for an instant short term loan instead.

Instant short term loans are pretty much loans provided for short periods of times and for smaller amounts than the more traditional short term loans you would aply for in the bank. Also called payday loans, instant short term loans have become extremely popular due to the speed with which a borrower can get approved and have access to the funds.

Instant Short Term Loans

NEW MPOWA Finance
MPOWA is the newest short term online loans provider! Get same day loans of up to R 2500!

  • R2,500 for new customers
  • Succesful applications received before 3pm will have cash by 5pm the same day!
  • Instant decision 24/7 & NO paperwork
  • Also available on mobile
#2 – Boodle
Boodle is the short term loan provider with some real South African flavour! Quick loans of up to R 8000 with 41 days to repay!

  • R2,500 for new customers, and up to R8,000 for existing customers
  • Instant decision 24/7 & NO paperwork
  • Up to 41 days repayment period
  • Also available on mobile
#4 – LoandfinderSA
LoanFinder SA provides online loans to many South Africans – even those who may have a poor credit rating, defaults or garnishee orders that can result from divorce, illness or death!

  • tailor-made loans up to R 150 000
  • Serves more than 500 000 applications per year
  • Quick & easy online application
SAPersonalloans.co.za
SAPersoanlloans.co.za is a great solution if you’re unsure of which loan provider to go with – they will match your requirements directly with the best loan option for you!

  • OVER 234 000 applicants helped
  • NO Application Fees Charged
  • Quick and Easy Approvals
  • Loans up to R15 000

There are many advantages that instant short term loans have. First of all you can apply online from your home, work or even and internet café. The information that is required is extremely basic – personal data, marital status, address, employment and credit record (if you have any liabilities). The platforms are created to be user-friendly and the whole process can be completed in as little as 5-10 minutes without the need for any paperwork to be sent or faxed.

As the name might imply, another feature of instant short term loans is that approval/disapproval is received within a few hours. Usually the result is sent via e-mail or on your mobile phone like an sms. The chance that you will be approved is very high as long as you have been fair and honest when filling in your personal data.

But one of the biggest benefits of instant short term loans is that unlike traditional lenders, most online short term loan providers are more flexible in their lending criteria and can in some cases approve requests even if the applicant has a bad credit record. They make up for this by providing smaller loans over shorter periods of times and charging a higher rate of interest. However, if you’re in need of just a smaller amount of money to tide you over for a short while before payday, then instant short term loans appear quite attractive.

If you are approved, the money will be transferred to your private bank account and you can use it right away. The whole process is very quick – for example if you apply in the morning, there is a fair chance that you will have the funds at your disposal until the end of the day. The maximum amount you can apply for is mostly around R 4 000 and instant short term loans are normally repaid over periods of less than 60 days.

Check out our list of instant short term loan providers in South Africa here.

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