Personal Loans

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Last updated 26 August 2015

Institution Absa
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Capitec
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FNB
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FNB/Wesbank
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Nedbank
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Nedbank
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RCS Personal Finance
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Sanlam
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Woolworths Financial Services
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Loan Product Name Personal Loan/Express Loan Personal

Loan

Personal Loan Personal Loan (CashPower) Personal Loan
Secured Personal Loan (no longer offered)
Cash Loan Personal loan Personal loan
Fixed Term Personal Loan
Minimum Earning Criteria (monthly) Personal Loan: – Earn more than R2 000 per month Express Loan:- earn minimum of R1 500 Depends

on

various

criteria

Personal Loan – earn min R700 after expenses R4,500

 

R 1,500 R 1,500 R 2,000 R 2,500 R3 000
R 2,000
Age Criteria (years) 18 18 18 18 21 21 21 18 18 – 65 18
Loan Amount (range) Personal Loan:- R3 000 – R150 000 Express Loan: R1 500 and R8 000 R1 000

to

R230 000

R250 – R150 000 (For a loan above R15 000, earnings must not be less than R8 350 per month) Minimum R5 000 and maximum R150 000 R1 000 – R120 000 Dependant on security offered R1 000 – R100 000 R4 000 – R150 000 R3 000 – R40 000 R4000 – R75 000 (depending on clients risk portfolio)
Loans under R25 000 fixed monthly payments and up to 60 months to pay
Loans over R25 000 variable monthly payments, linked to the prime interest rate, and up to 84 months to pay  
Loans over R30 000 over 60 months to pay  
Term offered (months) Personal Loan:- 12 to 84 months (Loans over R30 000 over 60 months to pay) ; Express Loan: – 1,3 or 6 months 2 to 84

months

24, 36, 48 or 60 months 6 to 72 months 24, 36, 48 or 60 months Neg 12, 24, 36 or 60 24, 36, 48 or 60 12 – 42 12,24,36,48* or 60* months (*not available for loans under R10 000 on Fixed term Personal Loan) (as per website)
Interest rate On application 17.10 % to

31.00%

On application Vary between 22% and 32% depending on individual On application On application Fixed interest rate of 32.10%. Between 22% and 31%

 

On application Revolving Loan – 22.1%; Fixed term loan – dependent on client’s risk profile and loan amount