Unsecured Loans in South Africa –
An unsecured loan lets you borrow a fixed lump sum without pledging your car, home, or investments as security. Approval and pricing are based on your credit bureau record and NCA affordability assessment.
- ✓Compare loan costs from R5,000 to R350,000 over 1–6 years
- ✓Full NCA fee breakdown (initiation & R69/mo service fees)
- ✓100% free & non-binding – no impact on your credit score
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Illustrative Monthly Repayments & Total Cost (NCA Example)
The table below illustrates how the repayment term affects your monthly instalment and total credit cost for this loan amount, based on our representative NCA interest rate and statutory fees.
| Term | Monthly Instalment | Illustrative APR | Total Interest & Fees | Total Repayment |
|---|---|---|---|---|
| 1 yr | R 4 659 | 29,21 % | R 7 114 | R 57 114 |
| 2 yr | R 2 571 | 26,39 % | R 12 917 | R 62 917 |
| 3 yr | R 1 883 | 25,30 % | R 18 991 | R 68 991 |
| 4 yr | R 1 544 | 24,68 % | R 25 333 | R 75 333 |
Calculated using a nominal interest rate of 18.25% p.a., R1,207 initiation fee, and R69/month service fee. Your actual quote will be issued by the lender following an NCA affordability assessment.
Unsecured vs. Secured Credit in South Africa
Because the credit provider takes on higher risk when no asset backs the loan, unsecured loans carry higher interest rates (capped at SARB Repo Rate + 21% p.a.) than home loans or vehicle finance, but offer faster digital approval and fixed monthly repayments over 12 to 72 months.
Frequently Asked Questions
Is my home or car at risk with an unsecured loan?
No specific asset is pledged as collateral, though defaulting on any credit agreement still damages your credit record and can lead to legal collection proceedings.