Personal Loans and Personal Loans for Bad Credit

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Our approach to lending has always been very easy, we’ve helped individuals in South Africa with personal loans. You can take out a personal loan from R5,000 up to R1,000,000, with some of the most competitive rates on the market. Once your first payment has been made, you'll even be able to choose the day that the rest of your monthly payments go out. Our personal loans are available for blacklisted clients, clients with low credit score and clients under debt review.

You might be looking for a R100,000 loan to top-up your wedding funds, R200,000 to help renovate your home, or R300,000 for a brand new car. Whatever your goal is, we’ll have a tailor-made low APR personal loan to help you get there. We know that when you’re looking for an online loan, you want more than great rates; you want a great reputation for service too. Our customer satisfaction score is consistently 98% or higher, so you can count on a first-rate experience from application to approval.

Car Loans
Engineered for speed and ease, our car finance loans offer competitive rates and access funds within 24 hours (excluding bank holidays).

Home Improvement Loans
Whether you need a loan for renovation, conversion, a conservatory or a loft extension, you’ll feel right at home with a home improvement loan designed around you.

Small Loans
Sometimes little loans can make a big difference. If you’re looking for small loans online between R5,000 and R50,000, we offer some of the best rates on the market.

Leisure Loans
Wedding, holiday or caravan, our leisure and lifestyle loans help create moments you'll always remember. With terms of 2-7 years, payments can be tailored to suit you, Get a personal loan online.

Personal Loans for Bad Credit

These loans are tailored to help borrowers who may have difficulty qualifying for traditional loans due to their credit history. There are several types of bad credit loans, including payday loans, auto title loans, and pawnshop loans. At Finsap Loans, we want you to know what they are and how they work, so you can avoid the pitfalls of bad credit borrowing.

Bad credit loans are designed for individuals with a less-than-perfect credit score who may struggle to obtain financing through traditional lenders like banks. we understand that majority of South Africans have low credit score, emphasizing the need for accessible financial solutions for this portion of the population. Luckily, bad credit lenders do exist, and can be found online or in person. But knowing the difference between personal bad credit loans and payday loans for bad credit will be very important.

What are 'bad credit loans'?

Bad credit loans are designed for people with a credit report that's less than spotless, or who have little to no credit history. These loans typically have higher interest rates and greater restrictions than other loans, as this helps lenders reduce the risk of you not paying them back. However, they can be useful if managed responsibly.

How can I get a loan for bad credit?

Firstly, work out what you can comfortably afford to repay each month. Then compare loans with different companies to find one that best fits your financial ability and needs. Just remember, we're a credit broker, not a lender†. That means we don't provide credit, but we can make your search for it easier, by helping you compare offers all in one place.

Try to only apply for loans that you're likely to get, since each application will record a hard search on your report that can lower your score. It can be helpful to check your eligibility before you apply, to understand your chances of approval.
Application takes less than 5 minutes.

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What’s the easiest loan to get with ‘bad credit’?

It really depends on your personal circumstances. For example, if you’re a homeowner you may find it easier to get approved for a secured loan. Or if you have little or no credit history, a guarantor loan could be an option. But both these types of loan have risks and might not be right for you.

So ‘what’s the easiest loan to get’ is the wrong question to ask. Instead ask: ‘What’s the best type of loan for me?’. If you’re not sure, have a look at the different types of loan – it’s important to know which type suits you before you apply.

What is 'bad credit' and do I have it?

Having 'bad credit' means your credit history is viewed negatively by companies, so you'll probably find it difficult to borrow money or access certain services. But remember that each company has different criteria when assessing your credit history – some may see you more positively than others.

If your score is low, it could be because you have negative influences on your credit report, such as:
* Late payments
* Defaults
* Bankruptcy
* Too many hard searches (for example, these are recorded when you apply for credit)

It could also be that you simply don't have much of a credit history for lenders to base a judgement on. This is a common problem if you:
* Are a young adult and haven't had time to build up a credit record yet
* Have never taken out credit or opened a bank account

How can I get better rates and higher limits?

You could consider a loan with higher risk
If you're not willing to pay high rates, or you need a large amount, you may still be able to find a loan that fits your needs – even if you have poor credit. But usually, the trade-off is that you'll have to accept higher levels of risk.

There are other types of loan for bad credit you may want to consider:
* Guarantor loans – where someone (usually a relative) promises to make your repayments if you can't. Finding a guarantor with a good credit history can help you get a loan with better rates or a higher limit. But being a guarantor means potentially losing your own assets, such as your home, if you struggle to keep up with the payments.

* Secured loans – where you use your home, car, or another asset as collateral, meaning you could lose it if you fall behind on your repayments. However, collateral reduces risk for the lender, so they may offer you better rates or larger limits than you'd get otherwise.

* Debt consolidation loans – where you move debts from multiple accounts to a single loan. This type of loan may help you simplify your payments and reduce the amount you pay in interest. But they’re not for everyone. Even if the loan has a lower rate than your existing credit accounts, you may end up paying more in interest if the loan is taken out over a longer period.**

* Credit union loans – you may be able to join a credit union. These are not-for-profit organisations who’ll look beyond a poor credit rating when deciding whether to grant you a loan. However, some credit unions restrict membership to people who live in a certain area or belong to a certain profession. Others insist you save with them first before you can borrow.

Try and improve your credit score

Your credit score isn't set in stone – it's shaped by your financial behaviour, so you have the power to influence it. There are several steps you may be able to take to improve your score and increase your chances of getting the loan you want.

Managing your loan repayments

A 'bad credit loan' might come with high interest rates and low limits, but it can be an opportunity to improve your credit history by showing that you're a reliable borrower. Over time, sticking to the loan repayment schedule should start to boost your credit score, helping you get better credit deals in the future.
Here are our top three tips for when you have a loan:

* Draw up a monthly budget and stick to it, so you never miss a loan repayment
* Try not to add to your debt while paying off the loan, as this may damage your score and put pressure on your ability to make repayments
* If you're worried you won't be able to make a payment, talk to your lender as soon as possible to discuss your options

Who Benefits from Bad Credit Loans?
Bad credit loans offer a lifeline for individuals with a low credit score, providing much-needed funds for a range of needs. These online loans prove most useful during emergencies such as: car repairs, fixing home appliances, or meeting school costs.

Bad credit loans also serve a significant role when unexpected medical expenses crop up. Often, insurance may not cover the entire cost of medical treatment, leaving a substantial amount to be paid out of pocket. So borrowers turn to personal loans for bad credit.

Finally, home repairs are another area where a bad credit loan can be invaluable. Urgent needs like fixing a leaking roof or addressing damaged plumbing can’t be put off for long. Anyone experiencing emergencies like these may benefit from an online bad credit loan or other unsecured online loan.

Pros of Bad Credit Loans Online:
* Accessibility: Provides financial solutions for those with poor credit, online or at storefront locations.
* Building Credit Score: Timely repayments can improve your credit score.
* Covering Emergency Expenses: Addresses unexpected costs like medical bills or car repairs.
* Flexibility: Various loan types (an online personal loan, payday loans, short term loans) to fit your unique needs.
* Fast Approval and Funding: Quick access to funds, often within 24 hours.
No Collateral Required: Unlike a secured loan, many are accessible without needing to offer an asset as collateral.

Cons of Bad Credit Loans Online:
* Predatory Lending Practices: misleading advertising, unaffordable repayment terms, aggressive collection practices.
* High Interest Rates and Fees: Expensive borrowing option due to their riskier nature.
* Short Repayment Terms: Difficulty paying off loans, potential for debt cycle.
* Negative Impact on Credit Score: Late payments, defaulting, or loan collections harm credit scores.
* Potential for Debt Cycle: Difficulty repaying loans may lead to borrowing more, trapping borrowers in debt.

Application takes less than 5 minutes.

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Low Credit Score Loans

What are low credit score loans?
Low credit score loans can provide financial relief to customers who have experienced being turned away by other direct lenders. Designed specifically to help you if your credit score is currently lower than “Excellent” or “Good”, you’ll find many options available when looking online for this type of short term personal loans. However, when you start to look at the terms being offered and the interest rates involved, even for a small amount, it can work out to be less than ideal for your situation.

We understand that not everyone will have that perfect credit rating and whether it’s because of financial difficulties in the past or a lack of credit history because you’ve never borrowed before, we feel it’s unfair to penalise you in present circumstances. If you have now found the affordability and your financial issues are in the past, an instant loan for low credit score applicants are something we can help you with.

Apply for a loan with a low credi score
Whilst your credit score may be currently low, at Finsap Loans we still offer financial help that considers this. We take a personal approach to making lending decisions unlike many other lenders out there, with many opting to use automated processes that filter out any applicants that don’t meet certain criteria. This can mean you could be declined unnecessarily by a lender due to this method before you have the chance to prove your current situation. That’s why at Finsap Loans we fully assess your current circumstances. If we can see that you have the income and the affordability to make the repayments you have requested, we’ll be able to offer an instant loan for a low credit score.

To apply for a personal loan?
Apply online on our website and send the required supporting documents via email to
1. Copy of ID or passport
2. Last 3 months personal bank statements or payslips

Application takes less than 5 minutes.

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Finsap Loans is a direct loan lender offering different loan types.

More about our products

Personal Loans

Our approach to lending has always been, and always will be, personal. We’ve helped individuals in South Africa, but we know that every customer - Find out more.

Business Loans

Business loans are very common and one of the first options for businesses looking to raise finance.
The lender provides money that you, as the borrower, pay back - Find out more.

Debt Consolidation Loans

A debt consolidation loan is designed to help you get on top of any outstanding credit you have by moving some or all your debt - Find out more.

Home Loans

Our award-winning range of home finance products let you release tax-free cash from your home, second home or buy-to-let property, without the need to sell or transfer ownership. – Find out more.

Loans for Blacklisted

Many people believe that by having a bad credit history you are barred from being able to get a loan in the future and that your details – Find out more.

PayDay Loans

A payday loan is a short-term, small loan that you repay once you receive your next pay – Find out more.

Home Improvement Loans

A home improvement loan allows you to spread the cost of your project with a clear view of what you'll pay each month from the start – Find out more.

Can we help you today? Whether it’s a question or you just need support, we’re here to help.Get in touch