EXEL Finance
Debt Counselling · 22 reviews
#17
Rank
5.1/10
Our Score
How we rate
Each lender is scored out of 10 across five weighted factors: customer reviews (35%), loan terms & cost (25%), transparency (15%), NCR registration (15%), and customer support (10%). We are independent and never accept payment for higher rankings. Read full methodology →
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We believe every South African should be able to make borrowing decisions with confidence. While we don't cover every credit provider in South Africa, we work hard to feature a wide range of NCR-registered lenders and provide objective editorial comparisons you can trust.
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However, these factors do not influence our editors' opinions or our scores. Every rating is calculated using the same independent methodology applied to every lender, partner or not. Our partners cannot pay us to guarantee favourable reviews, hide negative customer feedback, or alter their score. If a partner performs poorly on customer reviews or NCR compliance, their rating reflects that.
Debt Counselling Terms
Min Debt
Any amount
Process Length
36–60 months
Initial Fee
NCR-regulated
Monthly Fee
NCR-regulated
NCR Number
Not listed
Services Offered
- ✓Debt Counselling
- ✓Debt Restructuring
- ✓Debt Review
Top Loans from Our Experts
Pros & Cons
Advantages
- ✓ Interest rate of 35% per annum is at the lower end compared to many short-term lenders
- ✓ Loan terms go up to 180 days, which gives you more breathing room than typical 30-day payday products
- ✓ Smaller loan amounts from R500 mean you don't have to overborrow
- ✓ Debt counselling focus means some clients may get structured relief rather than just another loan
Disadvantages
- ✗ No website makes the application process unnecessarily difficult and opaque
- ✗ Only 16 customer reviews collected, which is far too few to form a confident picture of their service
- ✗ Trust score of 3.7 out of 10 based on those reviews is poor
- ✗ Ranked 29th out of 37 lenders, which puts them firmly in the bottom third of what we've tested
- ✗ Lack of transparency around payout timelines and online process is a real problem in 2026
About EXEL Finance
If you're behind on debt payments and someone mentioned EXEL Finance as a way out, stop and read this first. EXEL Finance is not a personal loan provider in the traditional sense. It's a debt counselling operation, which means it's aimed at people who are already struggling to manage what they owe, not people looking to borrow fresh money for an emergency. That's a meaningful distinction that their marketing doesn't always make obvious.
The loan range sits between R500 and R9,000, with terms running from one day up to 180 days. The interest rate is listed at 35% per annum, which sounds reasonable until you start doing the actual rand amounts. And if you're already in financial trouble, taking on new credit through a debt counsellor is a conversation that needs to happen carefully.
We scored EXEL Finance 3.8 out of 10, ranking them 29th out of 37 lenders we reviewed. Customer reviews we collected gave them a trust score of 3.7 out of 10 from 16 reviews. That's a thin base of feedback and none of it is particularly glowing. Approach with caution.
How Does EXEL Finance Work?
1. Contact EXEL Finance directly, as they currently have no active website, which means phone or walk-in is your most likely route.
2. A consultant will assess your financial situation, including your income, existing debt, and monthly expenses, before recommending a product.
3. If you qualify, you'll be presented with loan or debt counselling terms to review and sign.
4. Once paperwork is completed and approved, funds are transferred to your bank account, though timelines are unclear given the lack of an online process.
5. Repayments are structured over your agreed term, from as short as one day up to six months.
How to Apply for a EXEL Finance Loan
Visit the EXEL Finance website at https://exelfinance.co.za and complete the online enquiry or application form with your personal and financial details.
A consultant from EXEL Finance will contact you to discuss your current debt situation, income, and monthly expenses in detail.
EXEL Finance will conduct a full assessment of your finances to determine whether debt counselling is the right solution for you.
If you qualify and choose to proceed, EXEL Finance registers you under debt review with the National Credit Regulator and notifies your creditors.
Your dedicated portfolio manager will negotiate reduced interest rates and extended repayment terms with your creditors on your behalf.
A restructured, affordable monthly payment plan is drawn up and presented to you for review and acceptance.
You begin making a single consolidated monthly payment, which EXEL Finance distributes to your creditors according to the agreed plan.
Processing Time & Payout
As a debt counselling service, EXEL Finance does not process loan payouts but rather works with your creditors to restructure your existing debt obligations. The onboarding process, including your initial assessment and the submission of your debt review application to credit bureaus and creditors, typically takes a few business days after your paperwork is submitted and verified. Once your debt review plan is in place, your restructured payment arrangement becomes active and you begin making a single monthly payment.
Fees & Charges
Requirements
- Must be 18 years or older with a valid South African ID
- Proof of regular income, such as a recent payslip or 3 months of bank statements
- A South African bank account in your own name
- Proof of residence not older than 3 months
- An active South African mobile number
- If applying for debt counselling, a full list of current creditors and outstanding balances
Who Is EXEL Finance Best For?
EXEL Finance is most relevant to someone already juggling multiple debts and looking for a structured way out, or someone who needs a small short-term loan between R500 and R9,000 and is comfortable dealing without an online application process. It is not the right fit if you want a fast digital experience or need money within hours.
Is EXEL Finance Safe & Legit?
EXEL Finance operates under the National Credit Act, which governs all registered credit providers and debt counsellors in South Africa. Registered debt counsellors must be listed with the National Credit Regulator. Before signing anything, you have the right to ask for their NCR registration number and verify it on the NCR website. If you enter formal debt counselling, you gain legal protection from creditors, but you also take on obligations. Read every document before you commit.
Registered Credit Provider (NCR)
Where to Find EXEL Finance
EXEL Finance is based in Cape Town and serves clients across South Africa, with much of the onboarding and ongoing communication handled remotely via phone and email. Clients from various provinces have been assisted by the team, making it accessible to South Africans regardless of their location.
Our Full Review
Let's be honest about what EXEL Finance is and isn't. It's not a slick fintech with an app and instant payouts. It's a debt counselling and small loan provider that, as of our review, has no functioning website. That alone is a red flag in 2026, when every legitimate lender should have at minimum a basic digital presence. You can't apply online, you can't check rates online, and you can't see their full fee schedule without making contact.
So what does 35% per annum actually cost you? On a R5,000 loan over 90 days, you're looking at interest of roughly R437. Over the full 180-day term, that climbs to around R875 in interest alone, before any initiation fees or monthly service fees which, to be clear, we could not independently verify because there is no website to check. Under the NCA, lenders are capped on what they can charge, but the total cost of credit depends on those additional fees, and EXEL hasn't made that easy to confirm.
The rate itself, 35% per annum, is actually one of the more competitive figures in the short-term lending space. Many lenders charge the maximum allowed under NCA regulations, so if that 35% figure is accurate and inclusive, it's a point in their favour. But that's a big if.
Customer reviews we collected paint a mixed picture. With only 16 reviews and a trust score of 3.7 out of 10, there's not enough data to say confidently that most clients walk away happy. What reviews do exist suggest inconsistent communication and slow processes.
Is EXEL Finance worth your time? If you're specifically looking for debt counselling and can't access bigger, more established providers, maybe. But as a straight loan option, there are 28 lenders ranked above them on our site with better scores, clearer processes, and working websites. That's where we'd start.
User Reviews (22)
Average rating: 2.4/5
Happy client
Excellent service from Exel Finance I am seeing the difference, you just need to make sure that you honor your commitment as outlined. I some times get friendly call from the team just to make sure that I am not being harassed by creditors. Great job guys keep it up
GREAT SERVICE
I recently joined EXEL FINANCE last year December right after I received my bonus, I wanted to save more from the money I had at that time. I made a good decision because I also have a lot of savings now after paying my accounts month end. I would suggest that you join this company, you will also see a big difference with your finances.
Good customer service
Exel Finance , is the heaven for the needy, they are professional, understanding our needs, they give us feedback. loyalty is their principle.
Happy Client
I joined Exel finance last year around June I was under another company I do not want to disclose the name I thought the company was going to assist me me since they promise me heaven and earth ,So exel Finance called me and told me about the Rehabilitation program ever since I joined them I saw the different to my account . Now to everyone out there who need assistance I believe Exel Finance is the best you won't regret it .
Credit Active Again!
I was honestly at the point of cancelling my contract because I did not fully understand the process and felt uncertain. After speaking with Onke, everything was explained clearly and patiently, which completely changed my perspective. Today I am grateful that I did not walk away. The guidance and support I received helped me regain control of my finances, and I am now credit-active and debt-free again.
Exel Finance
WOW Exel finance Indincedile shame ***hulu ematyaleni wan ngoba ngoku umntu uyawubona umahluko ematyaleni wakhe ngoku ndandibatalangokwam ndandinga boni nto kodwa ngoku umahluko mkhulu gqiti
Debt Rehabilitation
I would to extend my gratitude to Exel Finance and my Portfolio manager Aubrey for assisting with their program I was being overcharged, now my interest rates are fixed and reduced and I can see a difference with my balances. I will definitely refer others.
wonderful service
wooooow thank Exel finance you are assisting to remove my name under debt review and boost my credit score now I am willing to use my accounts again
Exel finance are Tops
Exel Finance has really helped me and I am almost done with all my payments. The people I have dealt with has been absolutely friendly and professional. I will gladly refer and advise anyone to use them. Well done Exel Finance you are absolute stars.
Exel finance bad appalling service and abuse
Exel finance is not a good debt review company, I have experienced the worst service from poor communication and the bank trying to repossess my vehicle twice from June 2025. Currently I am in arrears with MFC and continously get messages about my arrears and possible repossession of my car, i have requested cancelation of their service since December 2025 but they are refusing to transfer the current agreement and continue to debit my account. I have contacted NCR out of desperation, don't join this company if you don't want to ignored and abused
EXEL FINANCE ****MERS
****mers. They have ****med me more than R30000 in the name of paying my creditors but since joining EXEL FINANCE in September they haven't paid a dime. Creditors are now at my back. Beware of EXEL FINANCE
exel finance a **** run by Zimbabwean to milk gullible South Africans their last remaining cents.
It has been 4 months since they deduct my money and never delivering, I am 3 months in area and the company makes sure that you can't pay the debt yourself. they go to court to make sure they milk you thoroughly, I am now trying to find out what is needed for me to do to get out of this hell. also their address is a lie, I was there today on 03/10/2025 and they don't exist there. 6 Hans Strijdom, Ave Tulbagh Center Office no. 806, 8th Floor, Cape Town, 8001
DISSATISFACTION AND WANT TO CANCELL
POOR SERVICE AND LACK OF SERVICE. NOT TO BE TRUSTED AND BAD COMMUNICATION. I AM TRYING TO CANCELL BUT THEY GIVE ME THE EMAIL THAT DOES NOT HELP AT ALL. I REGRET JOINING THIS COMAPNY
Not happy with service
Not happy with service. No feedback. On my request to be removed from debt review.
EXEL FINANCE ****
I WOULD LIKE TO WARN ANYONE THINKING OF TAKING ANY DEAL GIVEN BY EXEL FINANCE. THEY HAVE BEEN DEDUCTING MONEY FROM MY ACCOUNT, AND TO THIS DAY, NO COMMUNICATION. THEIR NUMBERS STOPPED WORKING, THEIR WHATSAPP NUMBER IS NOW SILENT ALL OF A SUDDEN, AND THEY STILL MANAGE TO CALL ME TO GIVE ME A NEW DEAL, BUT WHEN I TRY TO ASK ABOUT THE CURRENT ONE, I END UP ON A DROPPED CALL.
Do Not Trust this company!
It’s been 3 months, no communication has been issued from this company regarding removing the flag , no updates no statements what kinds of a company states they will help people then fails to communicate with them even when concerns are raised? Their office number doesn’t go through but when then initiate the process they will call you everyday they do not allow you to even cancel their services all they do is communicate with you via WhatsApp and keep deducting money your creditors sent pay you get handed over to lawyers while under their program they’ve messed my my credit status even further!
EXEL FINANCE
<div>I am very upset with this company. I received a text stating that I consented to the request for my credit report, which I did not do. An agent called me in the morning, and I informed him that I was not interested in what he was offering. He then said he would have his supervisor call me. The next thing I know, I receive a text confirming that I gave consent.</div>
****mers
They are ****ing ****mers. They took my money, without any signed documents or even my debt file. They are refusing to pay my ****ing money back. Instead of helping with my financial situation, they just ****ed it up and made it worse. Please don't trust this company, it's a *****...
Exel finance ****
They called me wanting to put me on debt rehabilitation. I considered it however i did not go through with it. They then debit my account yet i am not their client. You can not even get them their numbers do not work. These people are a **** do not trust them 1 bit.
EXEL IS A MESS
Good Afternoon If I can rate Exel Finance I can give the 0,00 members must stay as far as the can from them they will mislead you, rather take your money and be registered as a slow payer that wasting your money to them, and your own arrangements with your creditors. They are situated in Cape Town and honestly speaking they won't give you exact address and they using our South African sister to mislead you over the phone. At the end of the day they are misused to earn peanuts.
Showing 20 of 22 reviews
Contact EXEL Finance
Frequently Asked Questions
How much can I borrow from EXEL Finance?
EXEL Finance offers loans from R500 up to R9,000. These are small, short-term amounts, so don't expect this to cover major expenses. The exact amount you'll qualify for depends on your income and credit profile.
What interest rate does EXEL Finance charge?
The listed rate is 35% per annum. That's actually lower than what many short-term lenders charge, and sits below the maximum allowed under the National Credit Act. However, you'll want to confirm the total cost of credit including fees before signing, since we couldn't verify the full fee structure due to the absence of a working website.
How fast does EXEL Finance pay out?
We couldn't confirm a specific payout timeline. Without an online application process, approvals are likely to take at least a day or more. If you need money urgently, this is probably not your fastest option.
Is EXEL Finance registered with the NCR?
Debt counsellors and credit providers in South Africa must be registered with the National Credit Regulator. We recommend asking EXEL Finance directly for their NCR registration number and verifying it on the NCR's official website before proceeding.
Can I get a EXEL Finance loan with bad credit?
Given their focus on debt counselling, EXEL Finance likely works with clients who have impaired credit histories. But having bad credit doesn't guarantee approval, and taking on new credit when you're already overextended is something to think carefully about.
What documents do I need?
You'll typically need a valid South African ID, proof of income or 3 months of bank statements, proof of residence not older than 3 months, and an active bank account in your name. If you're applying for debt counselling specifically, bring a list of your current debts and creditors.
What is EXEL Finance and what services do they offer?
EXEL Finance is a registered debt counselling company based in Cape Town, South Africa. They help over-indebted South Africans restructure their debt by negotiating with creditors to reduce interest rates and create a single, affordable monthly repayment plan. They do not offer personal loans but rather help you manage and pay off existing debt more effectively.
Is EXEL Finance legitimate and can I trust them with my debt?
EXEL Finance operates as a debt counselling firm regulated under the National Credit Act and overseen by the National Credit Regulator. Customer feedback generally reflects positive experiences with professional consultants and improved financial outcomes for clients who commit to the programme. As with any financial service, it is recommended that you request your NCR registration details and ask for a clear fee and process breakdown before you begin.
What happens to my credit record when I go under debt review with EXEL Finance?
When you enter debt review, a flag is placed on your credit profile at the credit bureaus to indicate that you are undergoing the debt counselling process. This flag is removed once you have settled all your restructured debts and receive a clearance certificate, at which point your credit record begins to recover. Several clients have noted improvements to their credit standing and the ability to use their accounts again after completing the programme with EXEL Finance.
Can EXEL Finance stop legal action or repossession of my assets?
One of the key protections of the debt review process under the National Credit Act is that it can provide legal protection against creditor action, including repossession, while you are actively paying according to your restructured plan. However, this protection depends on staying up to date with your agreed monthly payments. If you fall into arrears during debt review, creditors may have grounds to take legal steps, so it is important to communicate with your portfolio manager immediately if you are struggling to make payments.
How do I contact EXEL Finance in Cape Town?
You can reach EXEL Finance by submitting an enquiry through their website at https://exelfinance.co.za, where a consultant will follow up with you directly. Their team is based in Cape Town but assists clients nationwide, with communication typically handled via phone and email throughout the debt counselling process.