FatCat Loans Help Centre: Frequently Asked Questions
Common Loan Questions Answered for South African Borrowers
Welcome to the FatCat Loans Help Centre. This page answers the most important questions South African borrowers ask about applying for loans, understanding costs, comparing lenders, and protecting themselves from scams.
FatCat Loans is not a lender. We are a loan-matching platform that connects you with NCR-registered credit providers through one secure online application.
All loan approvals, interest rates, fees, and repayment terms are determined by the lender and must comply with the National Credit Act (NCA) 34 of 2005, which requires lenders to assess affordability before granting credit.
The information below is for general guidance only and is intended to help you make informed borrowing decisions. It does not constitute financial advice.
Last updated: April 2026
Applying and eligibility
Do I need to pay any fees before getting a loan?
No. You should never pay any upfront fees. FatCat Loans is completely free to use.
Critical warning: No legitimate lender will ask for payment before issuing a loan. If you are asked to pay fees, vouchers, or cryptocurrency to “release” funds, it is a scam.
Can I apply with bad credit?
Yes, you may still be able to apply. Some lenders assess affordability, income, and financial behaviour—not just your credit score.
However, bad credit may lead to:
- Higher interest rates
- Lower loan amounts
- Stricter repayment terms
What to do next: Always compare the full repayment amount before accepting any offer.
What do I need to apply?
- Valid South African ID
- Proof of income
- Active bank account
- Contact details
Some lenders may request additional verification.
Why was my application declined?
Applications are declined based on affordability and risk. Common reasons include:
- Insufficient or unstable income
- High existing debt
- Negative credit history
- Incomplete or inaccurate information
Important: Repeated applications without improving your financial position can reduce your chances of approval.
Credit checks and approval
Will applying affect my credit score?
It may. Lenders may perform credit checks when assessing your application.
Does pre-qualification guarantee approval?
No. Matching or pre-qualification does not guarantee approval. Final decisions are made by the lender after full verification.
What determines how much I can borrow?
Lenders assess:
- Income and expenses
- Existing debt obligations
- Credit profile
- Banking behaviour
Under the NCA, lenders must ensure the loan is affordable.
Loan costs and repayment
What is the total cost of a loan?
The total cost includes the amount borrowed plus interest and fees.
This is the most important figure to compare—not just the monthly payment.
How can I compare loan costs properly?
Many borrowers focus only on approval speed or monthly instalments. This can be misleading.
What to do next: Use our calculator to compare the full cost before accepting any loan:
True Cost of Borrowing Calculator
Are there any upfront fees?
No. FatCat Loans does not charge any upfront fees.
What happens if I miss a payment?
Missing payments can result in:
- Additional fees
- Increased interest
- Negative credit record impact
- Debt collection action
Only take a loan if you can comfortably afford repayments.
Timing and funding
How quickly can I receive funds?
Funding depends on the lender, your bank, and verification requirements. Some lenders may offer same-day payouts, but this is not guaranteed.
What can delay payment?
- Incomplete application details
- Verification checks
- Bank processing delays
- Applications outside business hours
Understanding loan types
What is a personal loan?
A personal loan is a fixed amount borrowed and repaid over time in instalments.
What is an instalment loan?
An instalment loan is repaid through structured payments over a defined period.
Can I use a loan for debt consolidation?
Yes, but it is only beneficial if the new loan is more affordable and reduces overall financial pressure.
Safety and fraud prevention
How do I know if a lender is legitimate?
Legitimate lenders:
- Are registered where required with the NCR
- Provide clear written loan terms
- Do not guarantee approval
- Do not request upfront payment
How do I avoid loan scams?
Golden rule: Never pay upfront for a loan.
Common scam signs include:
- Requests for payment before approval
- Pressure to act quickly
- Unverified contact details
- Unusual payment methods
Will FatCat Loans ever ask for payment?
No. We will never ask you to pay to apply for, process, or receive a loan.
Still need help?
For more guidance, visit:
How It works
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Apply for instalment loans entirely online in under 7 minutes. Only basic information is required. No paperwork is needed.
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Instantly find out if you’re approved. We search multiple South African lenders in seconds to get the best instalment loans online for you.
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