You can get loans from a number of shops in South Africa. The following will help you understand which stores in SA offer these products. You can apply for personal cash loans with bad credit through to business loans and finance.
These shops offer loans in South Africa:
- Ackermans
- Cash Crusaders
- Cash Converters
- Game Stores
- Makro
- Pep
- Pick n Pay
- Shoprite Checkers
- Woolworths
Firstly of course you need to apply for the different finance offers. Therefore let’s break down and compare these loan offers one by one. And most importantly you will soon be on your way to borrowing the money you need.
Ackermans Loans
Ackermans offer loans to their customers through Capfin. You can apply for a loan with Ackermans online or via an SMS message using your cellphone.
Some of the criteria you need to meet when you apply for the Ackermans loans includes:
- Your South African ID
- 3 of your latest payslips or 3 latest bank statements
- You must prove you are permanently employed and/or earning a monthly salary
- You’ll need a valid cellphone number
- A valid SA bank account
- You need to be at least 18 years of age
Repayments, loan amounts, interest rates and service fees differ from one customer to another. But you will need to fill out an application form for an Ackermans loan to see what you qualify for.
To find out more and apply for a loan with Ackermans – Click Here.
Loans at Cash Crusaders
You can get Cash Crusaders loans from their stores in South Africa. You can apply online to borrow any amount from R1,000 to R15,000.
Cash Crusaders loans are good for people who are blacklisted with bad credit. Because you use personal items you no longer want as security.
The main points of borrowing with a loan from Cash Crusaders are:
- Apply for a Cash Crusaders loan with no credit check
- You choose the amount between R1,000 and R15,000
- Applications can be done on weekends
- No bank statements or payslips necessary
- 30 day terms with low interest rates and fees
- You get a cash loan after you have approval and deliver your items to your local Cash Crusaders store
Note: Just a quick word of warning here. Because you don’t need a good credit record to qualify for this kind of finance you use personal items as security. So make sure you only use goods that you no longer need or want. Or items you are prepared to lose if you default on your loan repayments.
Find out more by visiting the website here. When you get to the Cash Crusaders website click on the “Get A Loan” button option to find out more and apply online.
This information may also interest you: Cash Loans For People With A Bad Credit History
Loans at Cash Converters Shops in South Africa
Another South African store that offers loans to people is Cash Converters.
Cash Converters loans offer two kinds of products:
- A cash advance loan. This is a loan against goods you own. You basically pawn your items.
- A Cash Converters Payday loan. This is where you borrow money against your salary.
Similarly to the solution already mentioned above a Cash Converters cash advance loan is good for blacklisted people.
This is because you apply to borrow the cash using goods that you already own. But tread carefully. Because if you cannot make your repayments then your goods will be sold at a Cash Converters shop. To cover your loan and expenses.
If you pay back the money you borrowed in full and on time you get your goods back. Simple as that.
Cash Converters Payday Loans
You can get a cash loan according to your salary in South Africa by applying for a Payday loan at Cash Converters stores.
This finance works a bit differently to the cash advance loans as you are borrowing money against your salary. Therefore not against goods you own.
The criteria for a Cash Converters Payday loan includes:
- You must be 18 years or older
- Need to be employed and have proof and payslips
- Must be a South Africa citizen with proof of ID
- You have to be registered for cellphone banking
- Provide proof of residence
- Contact details of you and two friends or family members
The best way to apply for a pay day loan at Cash Converters is to visit your nearest store. They have personal finance centres. So you can talk to a finance consultant about your personal requirements to borrow cash.
To get started and find out more about how to apply for Cash Converters cash advance and payday loans – Click Here.
Game Stores Loans at Game Shops South Africa
Game stores offer cash loans and fixed term loans in South Africa.
With the cash loans available at Game shops you can borrow up to R250,000. You can apply online and if you qualify, funds are in your bank account within 24 hours.
The criteria to apply for a cash loan at Game stores is similar to that mentioned with the other loan solutions above. But you must be earning at least R2,000 a month to qualify.
The Game Stores fixed term loans allow you to borrow up to R125,000 with up to 60 months to pay.
You get the following benefits with a fixed term loan at Game Stores:
- Borrow for purchases up to R125,000
- Options to repay from 12 to 60 months with fixed monthly instalments
- Free electronic statements to your email address
- No deposits required
- Customer protection insurance
Customer protection insurance for your peace of mind includes:
- Death Cover that covers your outstanding balance
- Permanent Disability Cover. This covers your outstanding balance
- Temporary Disability Cover which covers up to 12 months instalments
- Loss of income that covers up to 12 months instalments
The best way to apply for either of the Game Stores loans available above is to pop into your nearest branch. They have credit consultants to help you at the credit desks instore.
Read more information on the Game loans on their website here.
Makro Cash Loans
Another shop that offers cash loans in South Africa is Makro.
You can apply for Makro loans online or by calling them at their contact details. In addition by sending an SMS from your cellphone.
The most important things to consider with the loans available at Makro are:
- You can apply to borrow up to R250,000 from Makro
- Approval is made on the same day, often within minutes
- Money gets paid into your bank account within 24 hours
- Competitive interest rates and service fees apply according to your credit risk profile
- Monthly statements help you understand how much you still owe
- Repayments are done with a convenient debit order from your bank account
Repayments on Makro loans are flexible from 12 moths to 60 months to pay the loan back. The application process is simple and you can receive your monthly statements via email or SMS. You also get customer protection insurance when you borrow money from Makro for peace of mind lending.
Check out more information and apply for a Makro cash loan on their website by Clicking Here.
PEP Stores Loans
Loans from PEP Stores are available for customers who wish to apply.
Similarly to Ackermans, PEP stores offer loans through the SA Registered Credit Provider Capfin.
The following is an example of how much a PEP stores loan will cost you over a 6 month repayment period:
- Loan Amount: R4,000
- Interest Rate: 5% per month
- Initiation Fee: R535,00
- Maximum Monthly Service Fee: R69,00
- Maximum Monthly Instalment: R954,00
- Loan Repayment: R5,722
The figures above are correct at time of writing.
How to apply for a loan at PEP Stores:
- Visit your local PEP Stores with your South African ID with 3 latest payslips or 3 latest bank statements
- The consultant will scan your documents and send through your application
- Capfin will then contact you directly to let you know if your application is successful
Customers in South Africa that wish to apply for a loan through PEP Stores can find more information by Clicking Here.
Pick n Pay Loans
At the time of writing this article we couldn’t find any concrete information on Pick n Pay loans in South Africa.
There are websites online that claim you can get a loan from Pick n Pay but we think those claims are false.
However Pick n Pay Financial Services offer a range of financial products that are available to customers. These products include:
- Pick n Pay Store Account – A convenient store credit facility
- PNP Business Card – Shop for your business essentials
- Cash deposits into your bank account at the tills
- Pick n Pay wallet that allows you to add cash to your Smart Shopper Card
Pick n Pay are partners with a digital bank called TymeBank. Although after doing our research we still cannot find any info concerning loans that Pick n Pay may offer.
See more Pick n Pay financial services by Clicking Here.
Shoprite Checkers Loans
Shoprite Checkers loans are on offer through a registered credit provider called Mfin.
You can apply for a loan by visiting a Shoprite Checkers store near you or alternatively apply online.
You get the following benefits with a Shoprite loan:
- Convenient online applications
- Fast loan approvals
- Get cash paid directly into your bank account if you qualify
- Loan amounts of R1,000 – R7,500 available
- Flexible loan repayment terms
- Competitive interest rate
As with all loans from shops in South Africa there are terms you need to consider with a loan from Shoprite.
Loan terms such as these:
- You haven’t already got too much debt
- You can afford the loan repayments
- All the info that you give Shoprite Checkers is true and correct
- You understand the terms and conditions of borrowing clearly
- And of course you are a South African citizen 18 years or older
Visit this link to apply online for the Shoprite Checkers cash loans.
Or head on down to your local Shoprite Checkers store to apply. As a result you can speak to one of their financial consultants who will help you with your approval for a Shoprite loan.
Woolworths Personal Cash Loans at Woolworths Financial Services
You can apply for Woolworths Personal Loans online via their financial services department.
This article may be of interest to you as well: Woolworths Financial Services (Including Personal Loans)
Before we explain the features and benefits of qualifying for a cash loan from Woolworths Please Note… Due to Covid 19, loans available at Woolworths in South Africa are not available until lockdown has been lifted.
However here are the benefits of a Woolworths Loan:
- Online application is quick and easy
- Qualifying applicants receive cash into their bank account within 48 hours
- Repayment terms are flexible up to 60 months
- Statements are conveniently sent to you by email
- Woolworths will never charge interest that exceeds the NCA maximum allowance in SA
You pay your loan repayments through a direct debit order. So from your bank account.
At any time you may make additional payments by:
- An Electronic Funds Transfer – EFT
- At any Woolworths Store in South Africa
- Or by depositing into any ABSA bank branch
Remember, Woolworths Personal Loans will only be available again once lockdown is lifted. Therefore you can apply for a loan once the Covid 19 situation in SA gets better.
Click Here to read more about Woolworths Personal cash loans.
Woolworths South Africa are a well respected chainstore that their customers can trust. So rest assured the loans available at Woolworths are completely in line with credit laws in SA
Loans at Shops in South Africa – National Credit Act
All loans available at shops in South Africa must have terms and conditions that are in line with the National Credit Act.
In addition the first point of the National Credit Act in South Africa states this:
To promote a fair and non-discriminatory marketplace for access to consumer credit and for that purpose to provide for the general regulation of consumer credit and improved standards of consumer information.
Read more on the National Credit Act in South Africa by Clicking Here
In conclusion…
So there you have it. Above all we hope this article helps you to compare the different loans available at shops in South Africa.
Please feel free to share this article to help friends or family who may be looking to borrow money from SA stores.