Loans Without Payslip ¿How to Get Them in South Africa?
Whenever a South African applies for a loan, he or she must satisfy certain requirements. Before anything else, any lender will want to check the borrower will give the money back and pay for the service properly. In order to do so, most lending companies ask for pays lips and bank statements to check on the applicant monthly income. After all, that’s one of the main factors considering when deciding on a loan approval. Next, I’ll delve into loans available to citizens without pays lips and how can you get them
Is it possible to get a loan without pays lips and bank statements?
Although they are more difficult to find, there are useful loans that can be issued without presenting pays lips. Actually, you might find several loan proposals easy to get and with no paperwork, but not all of them are trustful. For this reason, I advise you to read along this article so you can recognize what loans can you trust on. You can get them online or in person, depending on which one you choose.
Can I get a loan without having to provide 3 bank statements?
There are workers that get salary slips when they’re paid, but they get the money on their hand. This means, they don’t own a bank account, so their pay isn’t deposited in it. As bank statements show a lender not only how much you earn but also how you spend that money, banks almost always ask for them. However, you might find some smaller but trustful lending companies accepting just your SA ID and salary slip.
Another group of workers taking advantage of this are those who have just started working. Banks will tell you to wait 3 months before applying to get those 3 bank statements. Although you should always try to wait until you are financially stable, if you need to, some companies are willing to accept just 2 bank statements or just your proof of income.
As you can see, it’s not impossible to get a loan without bank statements in South Africa.
What kind of Loan can an unemployed person in South Africa take?
Being unemployed and looking for a loan is a situation hard to deal with. As you’re asked to prove you have a permanent income, banks reject you from start. Yet, there is a type of loan who is granted without needing to present documents to verify your income. I’m talking about collateral loans. But not any loan accepting a collateral will do, just Pawn Loans. Why? Because they work like this: you reach to the pawn shop to ask for your loan but you must have a valuable object to present as security. Then, the lender will study the object to calculate and compare the monetary value and tell you how much money can you take in exchange.
Of course, you need your South African ID and maybe a proof of address, but how much money you earn is not under the radar for pawn loans. Once you get the cash, you leave your possession and that’s it! When time passes by, you pay the instalments back to cancel the loan. Once it’s completely paid out, you’ll have your object back.
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Although this is an easy option for unemployed South Africans, you must be sure of having the money to repay it in order to avoid losing your possessions because if the loan is not cancelled, the lender becomes the owner of it.
Is it recommended that unemployed South Africans get Emergency Cash Loans?
I have told you about pawn loans, which is a way to get an easy cash loan to pay less with no job. All the same, I wouldn’t recommend you to go into a loan contract if you don’t have an income of some sort. No matter what happens, you will have to pay the loan back on due time. Sometimes, applicants only focus on getting a loan offering same day payout and don’t stop to think carefully about how to cancel it later.
Who grants loans to start a business for unemployed citizens?
If you don’t have a job and you have always dreamed of starting your own company, you must be wondering how to get a bank lending you money to accomplish your goal. Despite everything, as I told you, banks will never grant a loan without checking the applicant’s source of income. As a result, it might be difficult to get a loan to start a business unless you can present enough possession or savings as collateral. All the same, the loan approval will be deeply studying by the entity.
How can an unemployed get Loans with Low Interest?
If getting a loan when you’re unemployed is not a piece of cake, getting a low interest rate loan it’s almost impossible. If you find a lender willing to trust on you, he or she will charge a higher rate to compensate for the risk he or she is taking. The only way you can get a fair rate is by restoring to collateral loans, which I’ve explained later.
4 tips to get an Instant Loan without proof of income
Basically, you have very few options of loans without having to prove your income in South Africa, but you have to take care of checking who is lending you money. I’ll summarize on this list, 4 tips you shouldn’t forget before asking for a loan if you can’t present pays lips:
1) Check all your options.
2) Make sure you have funds to repay the loan.
3) Ask for a small amount of money that you know you’re able of repaying it.
4) The most important detail of all, verify your lender is working on legal terms. Remember, many lenders accepting to grant you a loan without documents, tend to issue loan sharks, which we all know they charge ridiculously high rates.
Getting a loan with no job verification in South Africa is not easy business. Luckily for you, I have detailed few options for you to analyze. Besides, you can check the list I showed you before making any decision to avoid unfortunate situation with your loan. If you want to know more about collateral loans, you might read about Cash Converters.
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Questions and answers
I have some valuable artwork that I wish to use as a collateral for a personal loan. Do I need to have the work evaluated? And where do I go to in order to obtain such a loan?
If you have some valuable artwork to be used as a collateral for a personal loan, there is one place in South Africa in which you will be able to resort to. For instance, consider the financial entity Lamma. The amount of the loan will depend on the value of your artwork and will be determined by the company.
If you're renting, have no house or car, have valuable household appliances that cost not so much as you want, and you have proof of a job that is going to pay half the amount, is it still possible to get the approval?
Yes, it is possible to obtain approval of a personal loan if you do not have a house or car and have valuable household appliances that cost not so much. Nonetheless, the approval process will depend on the lender's requirements. Some of the companies may require collateral, but the fact of having a permanent job helps a lot.
I'm self-employed, and I am a landlord of 11 rooms. I need a loan to help me pay my bills because I'm struggling. Furthermore, I will give half of my rooms to pay your credit until finish. I need 20k, please.
As a self-employed person, a landlord of 11 rooms, who is looking for 20K to pay bills, you should consider that that is a great amount of money. You will need to contact the customer service department of Cash Crusaders, so they can evaluate if they can give you money in exchange for half of the rooms you own.
Hi, I would like to take a loan out. I do work, have bank statement and a payslip, but they do not take payslips, can I still get a loan?
In your case, as you have a permanent job with a bank statement and a payslip, the best recommendation is to resort to a bank where you can obtain the money you are looking for. Otherwise, you can consult a pawning company like Cash Crusaders in which they offer money in exchange for a personal item of value.
I have bank statements but no payslips. I get 14,400 rand per month.
Usually, financial companies, in order to lend money, ask for payslips or proof of income as they need to make sure that clients will be able to repay the loan afterwards. In your case in which you only have bank statements, no payslips and receive 14,400 rand per month, you can resort to Cash Crusaders, which is a company that accepts personal objects of value in exchange for money.
I am a homeowner. The property is fully paid. I get rental money for granny flat and Wendy house, but I don't bank the money, where can I apply for a loan?
As a homeowner that receives money from renting, but you do not have a bank account, the only possible option may be borrowing money from a pawning objects. In other words, you may resort to Cash Crusaders, which for example lends money in exchange for a personal item of value. This company does not require payslips or proof of income.
I want to apply for a loan.
If you wish to apply for a personal loan, and you do not have a payslip, then it may be a little bit difficult to obtain money from a traditional bank, for instance, as this type of institution will ask for proof of income. One possible option then is to resort to a pawn loan, where you leave a personal object of value in exchange for money.
I have a clean credit score but want my loan to be paid in Tymebank.
Tymebank is a financial entity that offers different types of services including banking and savings products like fixed deposit accounts. If you apply for a loan and wish the money to be deposited in a Tymebank account, you should contact the lender and find out if there is any type of agreement between both financial institutions so that the transaction can be possible.
Can I apply for loan using my title deed?
Yes, definitely. In South Africa, you may find some financial companies that offer loans if clients provide a title deed as a back-up. For example, you can apply for a secured loan which is reinforced by a collateral. In this case, you can use a title deed, which can help obtain low interest rates and convenient payment terms. You can resort to, for example, African Bank.
I just need a loan of R40,000 to start my business again. I don't have papers, but can someone please just help me?
If you need a loan of about 40,000 rand to start your business, you can resort to the financial company Pawn Loans, with which you will be able to obtain some money in exchange for pawning an object of value. This is one of the most convenient options in case you do not have any papers to hand in.
I work at an ECD centre and most of my salary is paid in cash, however about R2000 of my salary is transferred into my bank account, is it possible to get a loan? I do have a good credit score.
If you work at an ECD centre and most of your salary is paid in cash, you can resort to the private company Binixo. This company lends money to clients who are not able to present proof of income. The maximum amount of money you can obtain is 9,000 rand to be repaid in 65 days.
Hi, I want to know if I can get a loan for R100,000. I’m not working, I am running my own business.
In order to obtain a personal loan of about 100,000 rand without presenting your payslip as you are not working, you can resort to Pawn Loans. This company accepts a great variety of assets as a guarantee to lend money in exchange. If you are self-employed (as you are running your own business) and do have evidence of regular income, then you can turn to a bank like African Bank.
Hi, is it possible to get a loan if you're not working, but getting wife allowance every month?
There exist some possibilities for applicants like you who are seeking a personal loan without having a payslip. For example, you can resort to Pawn Loans, which is a company that accepts items of value in exchange for money. There is no need to show that you receive an allowance every month.
I need a loan. Can I get a loan with a title and a deed of house that is in my name?
Usually, in order to obtain a personal loan without presenting a payslip is to resort to Pawn Loans. In general, this company accepts items of value and lends money in exchange. However, you will have to confirm if you can leave the title and deed of your property as a guarantee.
Can I borrow money from you to settle my account?
Of course, you can. The only way you can borrow money to settle your account without presenting a payslip as a main requirement is to resort to the private company Pawn Loans. If you present items of value, you can obtain money as exchange. Another possibility is to try with Binixo, which allows clients to access a maximum of 9,000 rand.
I work in retail and get paid weekly. No payslip.
If you work in retail, are paid on a weekly basis and are looking for a personal loan with any organization, then you can try obtaining money through pawning a personal asset. For instance, Pawn Loans is a good possibility as you do not require to present payslips since your personal item functions as a guarantee.
I'm paid in cash. I need a loan.
If you are paid in cash and are looking for a personal loan, there are some possibilities for you to obtain money in the financial market. Although it may seem difficult to apply for a loan, you can resort to Pawn Loans, for example. In this way, you can access to money in exchange for a valuable asset as a guarantee.
Hey, I'm currently looking for a 6,000 rand loan I'm not working, but I receive R1,000 from my boyfriend + R940 Sassa grant for my kids. Also, I'm an entrepreneur and I get like R1200 profit monthly. Can I possibly have a loan?
If you are an entrepreneur and are looking for a personal loan of about 6,000 rand, but you do not count with a payslip, maybe you should consider the private company Pawn Loans. In this way, you can obtain a personal loan by pawning an object of value. The object will work as a guarantee, and you will obtain the money easily. When you finish paying the loan completely, you will get the item back.
I need finance to buy a vehicle, which I will use to make money to repay the loan monthly.
Usually, in South Africa, it is quite complicated to obtain a personal loan without payslips. However, you can consider the option to use Pawn Loans, which is a company that lends money in exchange for a personal asset. That is to say, the asset will function as a guarantee that you will pay the loan back. So if you wish to buy a vehicle, you could use this possibility.
Can I take a loan only with my bank statements?
Usually, most of the lending companies that offer personal loans traditionally require their clients to present a valid ID and recent payslips plus bank statements. However, there are other companies like Pawn Loans which accepts as a main requirement personal assets such as computers, musical instruments, appliances, etc as a security, and then they give applicants money in exchange.
I want a loan of 1,000 rand to buy stock, so I can sell cakes. Currently, people are making orders from me, but I don't have stock. Where can I find that loan?
If you need a personal loan of 1,000 rand to buy stock for your cake business, then you can consult in Pawn Loans. This company offers loans without the need to present payslips. The only compulsory requirement is to leave an item of value as a guarantee and then according to its value, you will be offered certain amount of money.
Hi, I am a domestic worker. I've got a bank account, but my problem is that my employer is used to paying me in cash. I haven't got the salary slips. Do you think that if I can produce the letter from the employer, that can help?
If you are a domestic worker, you have a bank account, but you do not have payslips as your employer pays your salary in cash, then the suggestion is to visit the bank where you have an account. There, you can ask if you can present a letter of your employer as a proof of income. Otherwise, you can resort to Pawn Loans where you leave an item in exchange for money.
I'm working at Nissan, but I don't get payslips. Is it possible that I can get a loan?
As a Nissan employee, you can obtain a personal loan without presenting payslips if you can refer to Pawn Loans, for example. This company accepts an item of value as a security and instead, you will receive money. An assessor will analyse the item and will calculate its value in the market. Then, you will be given a final offer.
Can I take a loan up to R100,000? My monthly income is R400, and I am running a business, selling bunny chow?
If you are selling bunny chow and need a personal loan of about 100,000 rand with a monthly income of 400 rand, you can try, for example, a collateral loan provider like Pawn Loans. This company can receive a personal asset as a guarantee and provide money in exchange when the applicant does not have proof of income. Now, if you have 3 consecutive salary payslips, you may resort to a bank, for example, African Bank.
Good day, I wanted to ask if is it possible to get a loan while not working but getting money every month as a beneficiary of my child from pension funds.
It is a little bit difficult to apply for a loan when the recipient is a child social grant beneficiary. However, there are some private companies like Moneyline that offer the possibility to apply for a loan for SASSA cardholders. In any case, you need to make sure you have enough money to afford the instalments afterwards.
I do work, but the payslips I have are from the previous company. I now work for a new company, only 3 weeks. Where can I get a loan?
If you are currently working in a new company and your payslips are from your previous job, you can choose to apply for a loan from a private company, for instance, Pawn Loans. The most important requirement is to leave an object of value as a guarantee. The company will make an offer depending on the condition of the object.
Good day, I need a loan of 5,000 rand, but I will be able to pay after five weeks.
If you need a loan of about 5,000 rand, but you will be able to start paying after five days, you can check, for example, in the private financial company called Wonga. This entity offers the possibility to obtain a quick short term loan with a six-month repayment period. There is a simple online application available for customers.
I am a Swazi citizen working in South Africa as a security officer, I need a loan. They do not offer payslips at my workplace.
If you are a Swazi citizen and are currently working as a security officer in South Africa, you can apply for a loan from Pawn Loans. This company does not require its clients to present proof of income, as you can leave an object of value as a guarantee and obtain money in exchange.
Good day, I am working, earning 2,500 rand a month. I need loan of 50,000 rand to pay lawyers, I don't get payslips.
If you do not get payslips and are looking for a loan of about 50,000 rand to pay lawyers, you can apply for money, for example, from the financial company, Pawn Loans. This entity lends money by pawning an object of value. Normally, for the required amount of money, you will need to present proof of income (2,500 rand) in any bank.
I need a loan for at most 5 hours, I am in Pretoria. Where can I get it?
If you are looking for an instant loan or an emergency loan, there are some alternatives for you. For example, you can choose Wonga, a private financial company with which you can obtain a minimum amount of 500 rand. Also, you can choose a repayment period up to six months. The process, which can be done online, is quite simple and easy.
Will I qualify for a loan of 9,000 rand without landline and payslip?
Most of the financial companies, even banks, will ask potential clients to provide proof of income by showing their recent payslips and bank statements. However, if you do not have a way to demonstrate your salary, the recommendation is to resort for example to Pawn Loans. To obtain some money, you need to leave an item of value as a guarantee.
I need a loan of 4000, my monthly income is 2500.
For a personal loan of about 4,000 rand with a monthly income of 2,500 rand, you can first apply for it in the bank where your salary is deposited. Usually, the entity will analyse your credit history and ask you for your three recent payslips. Otherwise, you can choose Pawn Loan, which is a financial company that lends money by pawning.
I want to apply for a loan of 9,000 rand. I'm self-employed.
In order to apply for a loan of 9,000 rand if you are self-employed, you can opt for Pawn Loans. With this company, you can leave an item of value in exchange for money. That item will function as a guarantee that you will have enough money to pay back the entire loan.
I need a loan amount of R9.000. My monthly income is R2.700.
If you need a personal loan of about 9.000 rand and your monthly income is 2.700 rand, you can resort to a bank providing that you show proof of income and have a favourable credit profile. However, if you cannot show your recent payslips, you can turn to Pawn Loans where you leave an item of value as a guarantee in exchange for money.
I want to find a place that will borrow R20 000. I have bank statements with constant cash flow but no salary slips.
Normally, for a loan with that amount, 20.000 rand, it is necessary to present payslips and bank statements at any bank as the financial companies need to make sure you have enough money to pay back. However, you can opt for Pawn Loans where you leave an item of value as a guarantee. The lender will analyse the condition of the object and will calculate how much money you can obtain.
I have started a business in December 2021. I need 1.000.000 loan to support myself and my business. I get a government pension and income from my business as well as from my partner who supports me. I have an unbonded house. Is there anyone that can assist me in obtaining this loan?
To obtain a loan of about 1000000 rand to support yourself and your business, you will have to resort to the bank where you deposit your funds. Usually, banks will require the applicant to submit some paperwork and analyse their economic situation as well as their credit history to decide if their can obtain such amount of money.
Which company can give me a loan with bank statements?
There are lots of banks that will require clients to provide bank statements so as to be able to apply for a loan, for example African Bank. Also, these financial companies will ask their clients to show proof of income through payslips. Usually, this is the procedure with any bank. However, you can also resort to pawning a valuable object with just showing your ID and proof of address.
How can I found a loan with my cell phone?
To be able to apply for a loan without the need of showing your payslips, what you can do is to resort to companies that receive an item of value. In other words, you can pawn a valuable asset which will function as a guarantee of the money you borrow. For example, Pawn Loan has an online application form that you can complete by using your smartphone.
I have my own turk shop how can I get loans
If you are an owner of a small business, you can resort to a bank for a loan. Usually, the company will ask you to present proof of income and your last 3 bank statements. This paperwork is necessary as to determine whether you will be able to afford the instalments. If you have ways to show the profits from your business, then it will be easier for you to apply for a line of credit.
I'm unemployed I don't have payslip but I can bring 3 months to 4 bank statements I'm receiving an income every month by my husband. Can I be able to have a loan of up to R20 000 for my debts. I'm earning R5000 per month for how long will it take the period of paying it.
In general terms, banks will ask you to present proof of income and also your last 3 bank statements.There is some paperwork that these companies request their clients to hand over in order to decide whether the money can be granted. If you wish to apply for a loan of about 20.000 rand, the bank will carry out an assessment on your credit history and affordability capacity. Based on a positive outcome, you can receive the loan and the information regarding the peiod of repayment.
I am starting a job on the 1st March and my offer of employment. Can I get a loan?
Usually, banks will request employees to wait for 3 months to get bank statements and payslips as they are the main requirements to be able to apply for a loan. However, there are small financial companies that can lend money based on pawning valuable objects, for instance, electronic devices. The lender has to assess the condition of the item to decide the amount of money to be granted.
How do I get a loan if I pay weekly by the hand?
Although it is rather difficult to apply for a loan without payslips as you are paid by hand, you can resort, for example, to the option of pawning a valuable object. The are small financial companies that can lend you money according to the value of the item in the market. Usually, either expensive pieces of jewellery or electronic devices work well in these cases.
I am self-employed, an Internal Auditor by profession. I help companies with their finance books and also tutor school children. I need a loan urgently for a medical condition. Can you assist me with a loan company that doesn't require a payslip, I can produce my bank statement as my solid proof.
One of the easiest ways of getting a loan without a payslip is pawning a valuable item. For instance, you could pawn an electronic device such as cellphone or piece of jewelry. The amount that you will be able to ask for will depend on the market value of the item.
Hi! I am looking for a loan, I don't have a payslip. Are there options for me?
If you need a loan, but you do not have a payslip, there are indeed fewer options available for you. However, what you could try is pawning a valuable item at a trustworthy pawn house. For instance, you can pawn a piece of jewelry, an electronic device, furniture, even cars.
I am looking for a loan, but I don't have payslip what do I do.
An option for people who do not have payslips and need loans is to ask for a loan at a pawn shop. At these companies, you will leave a valuable item, such as a TV set, a jewelry or your phone in exchange for a loan. Once you pay off the loan you get your item back.
I need loan, and I'm working, but I'm not getting payslip, but I have bank statement.
For those people who are not able to prove their income since they do not receive payslips, pawn shops can be an option. You can use a valuable such as a piece of jewelry or an electronic device to ask for a loan. The downside of this is that these loans are short-termed and tend to have higher interest rates.
Can l apply for a loan using my bank statement?
Most financial institutions will ask for both your payslips and/or bank statements when asking for a loan. If you do not have a payslip to prove that you have a regular income, you might try asking for a loan at pawn companies where you will not be asked for these documents.
I have a bank account and I work for a church, but I have no payslip. I would like to have a short term loan of r3000. Is it possible to get one.
If you do not have a payslip, your options for loans are smaller. However, you might want to consider pawn houses where you can bring a valuable item, such as a jewelry or an electronic device, like your smartphone, for instance. If you want to ask for R3,000, you should take to the pawn house an item that is worth that same amount or more.
Can I get a loan without a payslip and three months bank statement? When I get paid cash?
An option for those people who need loans that don't need payslips is to ask for a loan at pawn shops such as Cash Crusaders, for instance. Here you will not be asked to provide payslips or your bank statements. All you need is an item of value such as an electronic device, for instance.
I need loan about 1000, how much I will pay for 6 months?
Loans that don't need payments usually have higher interest rates than the ones offered by traditional institutions such as banks. So, for a loan of R1,000 for 6 months, you should think of interest rates starting at 24%. In this case, you would have to pay instalments of approximately 240 rand.
I need a loan for 10000 will I be able to pay for it in 6 months?
If you do not have a payslip, you can consider asking for loans at pawn shops. There you take a valuable item to use it as warranty of payment. You will only know if you can request R10000 when they see your items. However, if for instance you asked for R3000 over six months, you would have to pay instalments of R620.
Do I qualify for a loan without a payslip?
The easiest way of getting a loan without a payslip is pawning your valuable items. These can be your jewellery or an electronic device, for instance. All you need to qualify for these loans is your ID and the item to use as security for the loan. Two excellent pawn shops are Cash Crusaders and Cash Converters.
I am looking for a loan without needing to give payslips as I haven't received my payslips because of the lockdown.
If you are looking for a loan and you do not have a payslip to account for your income, you could consider loans at pawn shops. Cash Converters is an excellent option since they are registered with the NCR. With them, you can use a valuable item such as your phone or a piece of jewelry to ask for a loan.
I'm self-employed but due to COVID-19 and the levels we on unfortunately there is no income coming in for last 3 months but will be able to repay a loan bac. Am I able to do so?
What you can do during these times of uncertainty is asking for a loan at a pawn shop, for instance. You can bring a valuable, such as jewelry or an electronic device in exchange for a loan. Then, you can pay the loan back once you start earning money again.
I need a personal loan of R5000 for 4 months will you be able to help me?
If you are looking for a loan of R5,000 without payslip you could consider asking for a loan at pawn shop such as Cash Converters, for example. Also, you could try borrowing money through a P2P platform like Rainfin. At Cash Converters you can ask for a cash advance against your valuables: no payslips needed.
I'm unemployed, but receiving money every month in my account which I would be able to pay the loan every month but i don't qualify even to the 2 banks that I'm using i don't qualify, but they can see money I have every month, so I don't understand why I don't qualify.
I can see why you feel frustrated. Unfortunately, this is the way it works with most financial organizations. Most of these companies prefer to lend money to people who are permanently employed and that receive a payslip that can prove this. If you have been rejected at most banks, you could try borrowing money at pawn shops or P2P platforms.
I was working as a domestic worker and the job ended, but I'm a person who work as a prophetess. So what can I do to get the loan?
You could try the financial company Binixo. This company lends money to people who cannot prove their income with a payslip. They let you borrow a maximum amount of R9,000 and you can pay the loan in up to 65 days. The process is done through the internet and you will get a response immediately.
My husband works but his name is not so good. My name is very good. 703 credit score. I dont work but want to take out a loan that my husband will be paying. Where can i go for a loan like that?
Unfortunately financial companies don't lend money to a person and receive payslips from another person. What you can do is to pawn a valuable, for example. There are many pawn shops in South Africa where you can use your car, jewelry, electronic devices and the like to ask for a loan. However, these loans must be repaid in short periods.
I need 50000 so where can I apply for the loan if I don't have a payslip?
There are many options for people like you who don't have payslips. One of these options is the company Loancity. This company allows you to ask for a loan without payslip, and they will only ask you for a stamped letter from your employee saying that you work for them.
Working as a driver at funeral parlor, I don't have a payslip my credit score is lower.
One of the things you can try is asking a loan against a valuable at a pawn shop, such as Cash Converters, for instance. All you have to do is bring an item such as jewelry or a furniture, for example. The pawn shop will evaluate the asset and make you an offer.
Can I get R30000 loan I am not working I have tenants. I get R7500 per month.
There are alternatives to loans for those who do not have payslips to prove their income. One of these options is Binixo, an online platform where you can borrow money without the need to provide payslips. However, these loans can be of up to R9,000 and are short-termed in nature.
I need a loan for my household, only for 3 months, repayment of R5000 loan. Can you help me?
If you apply, for instance, for a personal loan at Binixo you will not have to provide the company with a pay slip, like in the case of Standard Bank. For a period of three months and a R5000 amount, your total repayment would be of R5000 which means that there are no initiation fees charged.
Hi I need a loan of R50.000, can you help me?
The amount that you desire can be difficult to find in South Africa, especially if you are looking for a loan that does not need pay slips. An agency that provides these kinds of loans is Binixo, but it lends loans of a maximum of R9000.It offers terms of up to sixty five days.
I am working but it's a contract that's going to take 5 years, can I get loan?
As long as you have some necessary valid documents established by the company that you pick, you will be able to apply for a loan without any trouble. A company that offers a loan without payslips or even bank statements is FNB Bank. This only applies for temporary loans. It does have some qualifying criteria, but no requirements.
I need a loan 30000, do I have to pay before having the funds?
When you start the process to be granted the loan, you start by just informing the bank about your credit affordability. Only when the bank confirms your request, will you start the official procedure. There, you will be notified about the fees and rates you must pay for the credit. There’s an initiation fee charged but, it is paid with your instalment, not before you get the money. So, be sure you’re dealing with a trustful entity to avoid be victim of fraud.
I need loan but I don't have payslip and I don’t deposit my money in the bank. However, I have bank account. I sell justine products and, I want the loan to start my on business. Do you thing I can get a loan?
As you have clarified you need the loan to start a company, you would probably get better chances looking for business loans. These credits have special terms and methods to repay the funds that fit with what starting a company demands. The only detail is that you must submit documents supporting a regular source of income. As you don’t have your earnings deposited in a bank account, it may get difficult for you to get through that requirement.
I do money from my salon so, I don’t have payslip. I need a loan and, I can pay all of it within a month. Can I apply?
Of course you can! But, in your case, you will need a bank that grants loans to grow a business, as they know what your needs are. Sanlam can be a fine solution as they offer a lot of products to take care of your business. Thanks to their experience, they’re ready to meet your needs and help you.
Where can I get these loans?
If you’re asking about RCS Group, there are many branches in South Africa where their assistance will help you. Some of them are in Cape Town, for example. Even so, you can also contact them over the phone or sending them an email, if you don’t want to waste time on going to the office.
How and where can I apply for a loan without a payslip?
If you go over Cash Converters options, you’ll find they issue loans against an object of value. This option is called Cash Advance and, you can ask up to R20000. In this particular case, as this company works with short term loans, you would need to give the money and interest back within 30 days. So, you have to really think about being capable of cancelling the loan, unless you want to risk losing the valuable you use as guarantee. It’s a viable alternative but, you must be sure to cancel it on time.
Hi I am working but I don’t get payslip from work. I only get my money via bank account and i just started working this year January, can I still get the loan?
Yes! You still have a chance to get financial help but, it will mainly depend on the type of loan you need. For example, payday loans usually have some basic requirements and, you don’t need to be working for 6 months to be approved. You will surely find an entity willing to help you.
Does every loan need a payslip. How can I do if I want to start a business and I’m not working now?
Even though there are some types of loan that don’t need payslips, they all need to have some sort of financial backup. If you intend to build up a company, you have to think about issues that are different from what a personal loan can offer you. This is why, you must try to apply with banks that have business loans. Some examples are, FNB and Nedbank.
When will I know the interest rate?
Once the application begins
My husband gets paid in cash but he has a bank account and a payslip. Can he still apply for a loan and just insure the money goes into the bank account?
Of course he can! When your husband applies for the loan, the bank will request him certain information about the bank account. Then, he can indicate the bank to transfer the money into his bank account to use it as you need it. Also, the payments can be debited from the same bank account and save a lot of time.
I’m working but I don't get payslip at work. I got cash by hands. Can I apply for a loan?
Unfortunately, even if you have a regular job, if you can’t prove your income, you probably won’t get a loan approval. If you own a bank account, on the other hand, and you can use your bank statements to show the company you how much is your monthly income, you may be accepted
Once my application is approved, when can I get money on my account?
It depends on the loan you requested and, the entity you work with. For payday loans, they tend to transfer the money within an hour from the approval thanks to the simple requirements. On the other hand, for personal loans, due to the complexity of such loan, you will have to wait few days until you have access to your money.
I haven't been working for a couple of months so I don’t have three months payslips, I have only started working again this month. What should I do?
To solve this problem, you have 3 options. One of them, the most responsible, is to wait few months until you can gather the three payslips. Another option is to think about a payday loan that can be cancelled in 30 days. And, finally, you can present a security as guarantee of the loan but, you must be completely sure you will pay off the loan in time in order not to lose that security.
Can I apply by phone?
Sure you can!
Do I have to sign a contract?
Yes you have, the lending agreement
Can I get it today?
It normally takes time to study each loan application and, for this reason, it’s not common loans are granted within the same day of application. There’s an exception but, the applicant needs to be an existing client of the bank they’re asking the loan to. In this case, as that bank is already on possession of the information required to grant a loan, they can decide right away and, transfer the money to the client’s bank account with almost no delay.
Do qualify for a loan of r100 000 if my salary is r2 500 per month and I get paid by cheque every month for one year now by the department of education? I can afford to pay back r1800 every month
When applicants request a loan, the entity sets the terms for such loan having in mind the applicant’s monthly income and expenses to make them capable of repaying the loan properly. To make sure of this, you can use an estimate calculator before applying. This tool will show you, taking into account your finances, how much money can you ask for.
Can I get a loan without payslip?
Sure you can! All you need to get a loan is to have a regular job and, receive the pay through a bank statement. So, even though you can’t present a pays lip, you can show your income through the bank statement for the bank to approve your loan application.
I am self-employed and am starting a small biltong business. I can give a business plan and cash flow forecast. I need cash for a biltong slicer and stock etc. But have no payslips. Can you help me?
A great company that can assist you on this is Nedbank. This lending entity provides their clients with a loan particularly thought for people who want to start up a company. This is a fine option as they can grant you the capital you need to acquire the necessary equipment for your company. Also, you can think about First National Bank and compare both entities. This will help you recognize the one that’s best for you.
I need a loan but I only have bank statements as a proof of payment, is it possible to get a loan?
It is possible with certain companies as, not all of them works without payslips. Two fine options for you are FNB and, Capfin. In the first case, FNB works with self employed workers and, in the second case, Capfin request payslips or bank statements to verify the client wage. Even though most banks ask for payslips, you can find some of them willing to help you without them. Here, we named two of them for you to choose the one you think is best.
Hello, can I get a loan without pay slip?
Hi! If you don’t receive pay slip form your job, there are some other options. One of them is through bank statements that evidence you get that monthly income and, the other may be through a pawn loan. This type of loan allows you to borrow money in exchange of a security. Which means, you leave an object of value and, get it back when you finish paying the instalments.
Do I need pay slip if I have bank statement to apply for a loan?
It depends on the type of loan you want to ask. If we’re talking about payday loans, you have more chances of not needing to present your payslips, as long as you present your bank statements. But, if you need, for example, a home loan, the requirements you’ll find may be more complicated because you’d probably ask for a higher amount. Remember, the bank will always check con are capable of cancelling the debt with your income.
Morning, I need a loan of r2100. I’m permanently working and I get paid on a commission
As you have a permanent job, being approved for a loan will be a little simpler for you. This, clearly, as long as there’s a steady income you get form your job. What I mean is that, any bank will verify you will be getting money for the period your loan lasts to be sure you won’t stop paying your debt. As you need just R2100, you can even repay it in 3 months or less.
What documents do you need if i want a personal loan
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Good day. My name is Nicoleen, can you help me, please? I'm unemployed but I get an income of r5000 every month. Can I take a loan?
Hello Nicoleen. If the bank can check you receive that amount every month legally and that you will continue receiving it, you may qualify for a loan if you have bank statements to present as proof of income. But, ultimately, it depends on the lending entity you choose to work with. Generally speaking, loans for a low amount tends to have simpler requirements so, there’s a chance for you to qualify and get the loan.
Hi, I’ve been working for about 3 years now, and I earn r3800 per month, no payslip but do have bank statement. I need a loan of at least r30000 to buy a car for my business. How much will be my monthly installment if I do get the loan?
I’ll name two options for you. Starting, FNB can help you with a business loan, as the purchase you need to make is aimed to improve your company. Then, Capfin can grant you a loan if you have bank statements. This last company states a term of one year to cancel the loan and, each payment may be around R3072, which leaves a total cost of R36867 approximately.
I need to pay school fees for my child and I can pay 500 every month. How can I make sure the cost of the loan won’t exceed my monthly income?
When you get in contact with the bank, you will be requested to provide them with details about your salary, your expenses and, the amount of money you want to ask. Then, after they study all that information you submitted, they can assist you on the terms of the loan. This is when you have to make sure the monthly instalments they charge you are within your capacity to pay them before signing the contract.
I need a loan but I don’t have pay slip, what can I do?
First, you need to clarify what kind of worker are you. If we refer to self-employed, meaning that you work for yourself, you need a company that issues loans to independent workers. If you have your own business, you need a business loan. In this last option, you need to state the purpose for your loan: to begin your business, to get equipment, to have cash flow. Once you have that point clear, you’ll know which of the business loans will work for you. Two great banks working on this area are FNB and, Nedbank
Need a loan, I don’t have payslip as I am doing private jobs I get paid cash and, I do get a pension
on you to repay such service. The only way to do that is by presenting valid documentation that shows how much money you get per month, or per week. The thing is that, if you are paid cash and, there’s no document showing those payments, the bank can’t check your salary. An alternative to pasylips are bank statements so, if you don’t have a bank account, unfortunately, you find difficulty on being accepted for a loan.
I'm looking for a loan but I don't have a payslip. I do have a bank statement. Can I get one?
You can relax as there’re some companies that grant loans even if you don’t have payslips. RCS, for instance, will accept your application if you show them your bank statements from the past three months and, of course, you comply with the rest of the requirements: age majority, be South African, and earn at least 2 thousand rand per month.
Hi, I need a loan of 50 000. I just started working and I need the loan urgently
The majority of lending companies requests loan applicants to be working for certain time before asking for a loan. You need to prove your job is stable and, so it is your salary. So, if you’ve just started working, banks will sure ask you to wait three months at least to be issued a loan. Even though this may seem negative, you can use that time to organize your expenses and see how much money you spend on basic needs. Then, you’ll know what loan terms can you afford.
Greetings. I need a loan for a business that I'm running but I am not working. However, I have another income from different source. I need to know if I qualify to get a loan without payslip?
Hi! You have chances of finding the right bank for you but, there are certain points that you have to make clear. For example, there’re banks offering business loans that, thanks to their experience, they can assist you with the capital you need to start a business like, Nedbank. Another point is the source of income you have. If you get a pension, you have to search for entities offering loans to pensioner, like FNB. To conclude, you need to decide what type of loan you want and, on any circumstance, you’ll need to prove you have income so, this point will also be key to the loan you can get.
How can I get a loan? I dont have an email but I'm working
If you have a stable job and you can present the documents to verify your identity, you can start by asking for a quote to the bank. Then, if you don’t have an email account there are two options. One of them is using your cellphone to receive SMS and, the other, is to open an email account. You’ll see it’s super quick and, it won’t take much effort.
Hi there, I’m searching for a loan. I get paid weekly but in cash. I have payslips and, I have a bank account but my pay does not go in there. Can anyone help me only with my payslips? I will appreciate it
Of course! If you take out a payday loan, you just need to show your pays lips. Some of them, won’t even require payslips to apply for the money. Either way, I must clarify the quote available for these loans are around R 500 and R 3000 more or less, which means they work when you need money urgently but, not a high amount.
Hi! I'm looking for a loan, I don't have payslip. Are there options for me?
Although having access to a loan without getting monthly salary slips is in fact difficult, it is not impossible. The only detail is that you have to look for a lending entity that allows independent workers to get a loan. One alternative that can be of great help for you is FNB. You will have to present them with bank statements they’ll use to check your income and get your loan terms.
Hello I'm Abel Maponya and I need a personal loan. I don't get payslip but I have bank statement. I need to marry my girlfriend and I need to build a house for my family.
Hi Abel! Even though you don’t receive a payslip, if you meet the requirements, your bank statement is enough to get a personal loan. This is so because the bank statement will show how much you earn monthly and, thanks to that, the bank can decide if your salary will cover the payment of the loan.
Can I get help for a payday loan?
This kind of loan is popular because they are easy to get. You will have rather a short amount of money and, in most of them, you should cancel it in the next month. In some cases, you may find up to 6 instalments, meaning,6 months to cancel it. As the terms are simply and short, the requirements are also simple. That’s why payday loans are easy to get.
In need of a loan to pay off in monthly installments without payslips
I advise you to take a look at Capfin as, you can submit bank statements if you don’t get pays lips from your work. Another option can be FNB as, they work with self-employed South African citizens. In such bank, you also need to present bank statements. Bear in mind, those statements must be from 3 to 6 months previous to the date you request the loan.
I’m self-employed. Can I get a loan?
Yes! There are some financial companies that work with autonomous workers and, you can enjoy their benefits. For instance, FNB accepts self-employed clients if they can present bank statements. These statements have to be from the previous six months before applying for the personal loan. After that, of course, the final decision will be dependent on on your credit score and affordability check.