Bad Credit Loans – Options for Poor Credit
Struggling with a low credit score or blacklisted status? You can still get a loan! Bad credit loans are designed for borrowers with scores below 583, offering funds without risking your home or car. From Johannesburg to Gqeberha, our platform matches you with trusted lenders like African Bank, ABSA, and Wonga in seconds. Apply today for up to R50,000* with approval options—no guarantor needed!
Why Choose FatCat Loans for Bad Credit Loans?
We specialise in helping South Africans with poor credit find the right loan. Here’s why we’re your go-to:
- Bad Credit Experts: Partner with NCR-regulated lenders like Sanlam and MPOWA who welcome all credit histories.
- No-Obligation Quotes: Get free, personalised offers without affecting your credit score.
- Flexible Terms: Repay over 3 months to 5 years with affordable plans tailored to your budget.
- Flexible Funding Timelines: Payout times vary by lender and bank, typically within 1-3 days business days.
What Are Bad Credit Loans?
Bad credit loans are unsecured unsecured loan options improving your bad credit score for South Africans with credit scores below 583 or a history of missed payments. Unlike standard loans, they’re tailored for higher-risk borrowers, so interest rates may range from 15-28% APR (capped by the National Credit Act). No collateral is required, reducing your risk. Use funds for emergencies, debt consolidation, or daily expenses—your choice!
Our platform connects you with specialist lenders to find you the best rates, even if you’re blacklisted. Avoid rejections by applying through us first.
Frequently Asked Questions About Bad Credit Loans
How Do I Get a Bad Credit Loan in South Africa?
Apply through our secure online form (takes 2 minutes). We’ll match you with lenders like Fasta who specialise in bad credit. Submit your ID, proof of income, and bank statements for faster approval. Many lenders offer instant decisions, with funds in your account in 1-3 days. No hard credit check until you accept an offer!
What’s Considered Bad Credit in South Africa?
Credit scores in South Africa range from 0-999, with anything below 583 deemed “poor” by agencies like TransUnion or Experian. Check your score for free via TransUnion’s online portal to confirm. A low score or blacklisting doesn’t disqualify you—our lenders assess affordability, not just credit history.
What Are the Best Loan Options for Bad Credit?
Options include:
- Unsecured Bad Credit Loans: Up to R50,000* from lenders like DirectAxis, with rates up to 28% APR. No collateral needed.
- Guarantor Loans: If your score is very low (e.g., <500), a creditworthy friend or family member can co-sign. Their good credit secures better rates, and no property is at risk. Non-homeowner guarantors are also accepted.
- Short-Term Loans: For urgent needs (R1,000-R8,000), but rates can hit 28% APR. Ideal for quick cash, repayable in 1-6 months.
What Interest Rates Should I Expect?
Rates vary by lender and your financial profile but are capped at 28% APR under NCA rules. Specialist lenders may charge 20-28% for bad credit loans, compared to 10-15% for prime borrowers. Short-term loans can feel pricier due to shorter terms. Our platform finds you the lowest rates available.
Can I Get a Loan with No Credit Check?
Some lenders offer no-credit-check loans (R1,000-R8,000), relying on income verification instead. These are pricier but ideal if you want to avoid hard inquiries. Get a free quote through us to see if you qualify without impacting your score.
Are There Alternatives to Bad Credit Loans?
If funds aren’t urgent, consider improving your credit:
- Use a low-limit credit card and pay it off monthly.
- Clear small debts to boost your score over 6-12 months.
- Once your score hits 600+, access better rates on personal loans or credit cards.
Are Bad Credit Loans Safe?
Yes, with NCR-regulated lenders like those on our panel (e.g. ABSA, Sanlam). Avoid scams by:
- Checking Hellopeter reviews.
- Ensuring the lender is NCR-registered.
- Never paying upfront fees—it’s illegal in South Africa. Report suspicious lenders to the Anti-Fraud Centre.
Why FatCat Loans?
We’ve helped over 100,000 South Africans to secure a loan, regardless of credit history. Our fast, secure platform delivers personalized bad credit loan offers in minutes, helping you get back on track without stress.
Start Your Bad Credit Loan Application Today
Loan amounts depend on lender criteria and are typically lower for bad credit profiles.
Representative example: FatCat Loans is an online loan comparison tool and not a credit provider. We only work with NCR-registered credit providers in South Africa. Our comparison service to consumers is free of charge. Estimated repayments on a loan of R30,000 over 36 months at a maximum annual interest rate of 28% would be R1,360 per month including an initiation fee and monthly service fees. Interest rates charged by credit providers may, however, start as low as 11%. Repayment terms can range from 6 to 72 months.