Apply for a loan
- Looking for a personal loan to consolidate between R50 000 and R500 000
- We search all service and credit providers to get the best option and quote
- You will be contacted for affordability and financial assessment
- There are no fees
- Your information is private and secure with us
Representative example: a R70 000 Personal Loan at an interest rate of 24.0% per annum plus a once-off initiation fee of R1 207.50, monthly admin fee of R69.00, Insurance premium of R284.83, with a repayment term of 72 months would have a total cost of approximately R155 263.57 (Including initiation fees). The maximum annual interest rate (APR) on a long-term loan in South Africa is around 28.25% p.a. Repayment terms can be as long as 3 months to 72 months. LoanDirect is an online loan broker and is not a lender by any means. We work with NCR licensed institutes. Interest rates (APR) charged by lenders varies depending on your risk profile but can be as high as 28.25% and generally as low as 20% per annum with monthly service fees of R69. Initiation fee on credit facilities (credit cards and store cards), personal loans and short-term credit transactions are calculated as follows: R165 plus 10% of the amount in excess of R1 000, capped at a maximum fee of R1 050
| Loan amount | Loan term | Interest rate(APR) | Service fee | Initial fee | Total repayment | Credit Insurance | Monthly Instalment |
|---|---|---|---|---|---|---|---|
| R70 000 | 72 | 24% | R69 | R1 207.5 | R155 263.46 | R284.83 | R2 156.44 |
You want to get a personal loan to settle your debt and sustain a quality lifestyle with no inconvenience? A debt consolidation loan with a personal loan at competitive interest rates is what you may be looking for. At LoanDirect you are spoiled with choice, from consolidation loans for blacklisted to general personal loans with flexible repayment terms.
What is a personal loan?
A personal loan is a form of installment credit. It delivers a one-time payment of cash to borrowers. Then borrowers will repay that amount plus interest in regular monthly instalment over a specified time
Why should you apply for a personal loan?
- Debt consolidation – combining old debts and high-interest credit cards with a lower-interest
personal loan can save you money. - Unexpected expenses – a personal loan might get you through a tough financial time
especially if you don’t have an emergency savings fund. - Home renovations and repairs – You can use a personal loan for remodelling projects, home
improvements or necessary repairs. - Vehicle financing – personal loan usually don’t require a down payment or collateral