Representative 60% APR Example
Our service is completely free to use and carries no obligation.
Interest rates offered by our lending partners start from 20% APR, with the actual rate determined by your credit profile and personal circumstances.
Loan terms range from 3 to 6 months, with a maximum APR of 60%. Some direct lenders may include an initiation fee, which is only applied once your loan has been paid out. The following illustration shows how typical charges may look.
If you borrow R6,000 over a fixed term of 6 months at a 3% monthly interest rate, the costs include an initiation fee of R765 and a monthly service fee of R69.
This results in a monthly instalment of R1,297 and a total repayment of R7,782.
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FAQs
Do you charge any fees for using your service?
No. Our service is completely free and carries no obligation. You are never charged for comparing loan options or submitting an enquiry.
Are you a loan provider?
No. We are not a lender and do not issue loans. We operate as an online loan comparison and matching service that works with NCR registered direct lenders in South Africa.
Will applying affect my credit score?
Submitting an enquiry through our platform does not affect your credit score. However, if a lender proceeds with a full credit assessment, this may involve a credit check in line with regulatory requirements.
Why does the APR vary between applicants?
APR rates differ because lenders assess each applicant individually. Factors such as your credit history, income, existing financial commitments and the loan amount requested will influence the rate and terms offered.
How quickly can I receive the funds if approved?
Once a lender approves your application and you accept the offer, funds are usually paid out on the same day, although the exact timing can vary depending on the lender and your bank’s processing times.
Pre Loan Requirements
To qualify for a loan with our loan providers, you need to meet the below criteria:
- Be 18 years of age or older
- SA resident and citizen
- Permanently employed
- Earn at least a monthly income of R5,000
- Not currently under debt review
- Agree to a credit check
Legal note:
According to the Consumer Protection Act 68 of 2008, we advise our audience about the Do Not Contact Me Database (DMA).
You can register on the national opt out database here to add your details to the Do Not Contact Me list.
You will not be contacted by members of the DMA (Direct Marketing Association of Southern Africa) when you register to be in this database.
About Us
Sure Loans is a free loan comparison platform. We are not a lender and do not issue loans. Instead, we operate as an online loan-matching service that works with a selection of NCR registered Direct Lenders in South Africa. Our service is offered at no cost and carries no obligation.