Compare Installment Loans

An installment loan has a fixed rate and is payable by installment over an agreed period. This makes it simple for the borrower and their budget to plan to pay the required amounts. Each payment must include the repayment of a portion of the principal borrowed and the payment of interest.

We offer a quick and easy loan comparison service that helps to find the best online lender in an instant, suited to your exact requirements. Submit your application on our website and we’ll search all top South African lenders in seconds to find you the best rate.

Why Apply Through Us?

  • Low, flexible installment options
  • Easy and fast access to cash if you need funds in a hurry
  • All credit histories considered
  • Full online application process, instant decision

Top Questions...

What are the different types of Installment Loans?

In South Africa, auto, mortgage, personal, and student loans are all typical online loans. Except for South African mortgage loans, where the interest rates can change during the term, most have a fixed-rate.

Secured Installment Loans vs Unsecured Installment Loans

These online borrowing options may be secured (collateralized) or unsecured (non-collateralized). For example, the mortgage loan will be used as collateral when you buy a house in South Africa, while the collateral is the car used as a car loan.

Also known as personal loans, you can extend them without collateral and pay by installment. Instead, South African lenders will review the borrower's creditworthiness through a credit score, and their income and assets determine the borrower's ability to make repayments.

A non-secured loan's interest rate is typically higher than a similar secured online option. This is due to the higher risk that the creditor accepts of non-payment.

Advantages and disadvantages

Flexible installment loans South Africa can be customized to meet the borrower's instant needs, including the amount borrowed and the repayment terms. These easy loans allow the borrower to obtain instant financing online at a significantly lower interest rate than is available with South African credit financings. As a result, the borrower has more cash to spend on other things.


  • Finance large purchases
  • Typically, the installment payment amount remains the same throughout the repayment term
  • It is possible to reduce interest costs by repaying your loan early.


  • High loan fees are possible online
  • Late or missed installment payments can cause credit damage
  • Possibility to borrow more than necessary

A disadvantage to longer-term borrowing is the possibility that the borrower will have to make payments at a higher interest than the South African market rate. The borrower might refinance his loan at a lower interest rate.

This option has the disadvantage of locking the borrower into a long-term financial obligation. Occasionally, the borrower may not meet the installment payments due to unforeseen circumstances. In this case, the amount could default, and you might forfeit any collateral used to secure it.

Will this affect my credit score

A great way to improve your South African credit record is by making installment repayments on time.

As we mentioned, a default or non-payment can cause an instant drop in your credit score, which is a red flag for South African lenders.