Long Term Loans in South Africa
Long term loans let you spread repayment over several years, resulting in lower monthly instalments and the ability to borrow larger amounts. In South Africa, long term personal loans typically run from 24 to 84 months with amounts up to R350,000. They're ideal for major purchases, home improvements or debt consolidation. Compare your options below.
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.
Affiliate compensation is one of several factors that may affect which products we highlight or where partner lenders appear within promotional placements. Other factors include loan availability, NCR registration status, customer review volume, and the editorial relevance of a lender to a specific guide or comparison page.
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.
Top Providers (32)
| # | Loan Company | Score | Amount | Term | Rate | Age | |
|---|---|---|---|---|---|---|---|
| 1 | Creditum | 8.5 | R500 – R350 000 | 2 months – 6 years | 0.1% | 18+ | Get a Loan |
| 2 |  Creditomax | 8.4 | R500 – R15 000 | 1 day – 1 year | 0.01% | 18+ | Get a Loan |
| 3 |  Crezu | 8.2 | R500 – R350 000 | 2 months – 4 months | 0.03% | 18+ | Get a Loan |
| 4 |  LendPlus | 8.1 | R500 – R4 000 | 5 days – 1 month | 0.16% | 18+ | Get a Loan |
| 5 |  PrimeLoans | 7.9 | R500 – R4 000 | 5 days – 1 month | 0.08% | 18+ | Get a Loan |
| 6 |  Dengoo | 7.8 | R500 – R9 000 | 1 day – 6 months | 0% | 18+ | Get a Loan |
| 7 |  Finpug | 7.6 | R500 – R9 000 | 1 day – 6 months | 0% | 18+ | Get a Loan |
| 8 |  Letocredit | 7.5 | R500 – R9 000 | 1 day – 6 months | 0% | 18+ | Get a Loan |
| 9 | Century / CredItza | 7.3 | R500 – R8 000 | 5 days – 6 months | 0.1% | 18+ | Get a Loan |
| 10 |  Mafori Finance | 6.9 | — | — | — | 18+ | Get a Loan |
| 11 |  Green Door Home Loans | 6.7 | — | — | — | 18+ | Get a Loan |
| 12 |  Credit Salvage | 6.1 | — | — | — | 18+ | Get a Loan |
| 13 | Exclusive Loans | 6.1 | R500 – R250 000 | 1 month – 5 years | 0.05% | 18+ | Get a Loan |
| 14 |  Finance 365 | 6.1 | — | — | — | 18+ | Get a Loan |
| 15 | Showtime Finance | 5.8 | R1 000 – R250 000 | 6 months – 7 years | 0.07% | 18+ | Get a Loan |
| 16 |  Marquis Finance | 5.6 | — | — | — | 18+ | Get a Loan |
| 17 |  Myloan.co.za | 5.6 | — | — | — | 18+ | Get a Loan |
| 18 | EasyFin Loans | 5.5 | R500 – R150 000 | 1 year – 5 years | 0.08% | 18+ | Get a Loan |
| 19 | S SA Home Loans | 5.5 | — | — | — | 18+ | Get a Loan |
| 20 |  FeverTree Finance | 4.5 | — | — | — | 18+ | Get a Loan |
| 21 | S SA Home Loans Insurance | 4.5 | — | — | — | 18+ | Get a Loan |
| 22 | L LINS Finance | 4.4 | — | — | — | 18+ | Get a Loan |
| 23 | S Sa Taxi Finance | 4.4 | — | — | — | 18+ | Get a Loan |
| 24 |  EXEL Finance | 3.8 | — | — | — | 18+ | Get a Loan |
| 25 | B Bayport | 3.7 | — | — | — | 18+ | Get a Loan |
| 26 | M Makanda Finance | 3.7 | — | — | — | 18+ | Get a Loan |
| 27 |  The Finance Experts | 3.3 | — | — | — | 18+ | Get a Loan |
| 28 | S SA Credit Check | 3.2 | — | — | — | 18+ | Get a Loan |
| 29 |  Spotaloan | 3.2 | — | — | — | 18+ | Get a Loan |
| 30 | S Shackleton Credit | 3.1 | — | — | — | 18+ | Get a Loan |
| 31 | C Credit Intel | 2.9 | — | — | — | 18+ | Get a Loan |
| 32 |  Credit Matters | 2.6 | — | — | — | 18+ | Get a Loan |
🛡️ All lenders listed are NCR-registered credit providers.
Compare Top 5 Long Term Loans Providers
How Long Term Loans Work
A long term personal loan in South Africa allows you to borrow a lump sum, typically between R5,000 and R350,000, and repay it over a fixed period of 2 to 7 years through equal monthly instalments. Lenders registered with the National Credit Regulator (NCR) are legally required to conduct an affordability assessment before approving your application, ensuring your repayments fit within your monthly budget. Once approved, the loan amount is paid directly into your bank account, usually within 24 to 48 hours. Repayments are collected via DebiCheck, a secure debit order authentication system that requires you to confirm your repayment mandate through your bank. Interest rates are personalised based on your credit profile and are capped under the National Credit Act (NCA). The total cost of credit, including initiation fees, monthly service fees, and interest, must be disclosed to you in a pre-agreement quote before you sign anything.
Pros & Cons
Advantages
- ✓ Longer repayment terms of up to 7 years mean lower monthly instalments, making large loan amounts more manageable within a tight monthly budget.
- ✓ Fixed monthly repayments make it easy to budget accurately for the full duration of the loan.
- ✓ Loan amounts up to R350,000 are available, which is sufficient for major expenses such as home improvements, medical costs, or debt consolidation.
- ✓ NCR-registered lenders must cap interest rates under the NCA, protecting you from excessive charges.
- ✓ Funds are typically paid into your account within one to two business days after approval.
- ✓ You can use a long term personal loan for almost any legitimate purpose without needing to provide collateral.
Disadvantages
- ✗ The longer the repayment term, the more total interest you pay over the life of the loan, significantly increasing the overall cost.
- ✗ Applicants with poor credit records will likely receive higher personalised interest rates or be declined outright.
- ✗ Monthly service fees and initiation fees add to the total cost of credit and must be factored into your comparison.
- ✗ Missing repayments can lead to adverse listings on your credit report with credit bureaus such as TransUnion or Experian.
- ✗ Early settlement may incur an early termination fee, so always confirm the terms before signing.
- ✗ Committing to repayments for up to 7 years creates a long financial obligation that can affect your ability to qualify for other credit.
How to Apply
Start by using a comparison tool to review multiple NCR-registered lenders side by side, looking at interest rates, fees, and repayment terms. Once you have selected a lender, visit their website or branch and complete the online or in-branch application form with your personal details, employment information, and the loan amount you require. You will need to upload or submit your South African ID, your three most recent payslips or bank statements, and proof of your bank account details. The lender will run an affordability assessment and a credit bureau check as required under the NCA. If approved, you will receive a pre-agreement statement and quotation, which you must review carefully before signing. After signing, the lender will initiate a DebiCheck mandate, which you confirm through your bank. Once the mandate is authenticated, the funds are paid directly into your bank account, typically within one to two business days.
Requirements
- ✓ You must be a South African citizen or permanent resident with a valid green barcoded ID or smart ID card.
- ✓ You must be at least 18 years old at the time of application.
- ✓ You must have a clear and verifiable source of regular income, whether from employment or self-employment.
- ✓ You must provide your three most recent payslips or bank statements showing consistent income deposits.
- ✓ You must have an active South African bank account into which your salary is paid.
- ✓ Your total monthly debt obligations must not exceed a level that fails the lender's affordability assessment under the NCA.
- ✓ A valid South African mobile number and email address are required for communication and DebiCheck mandate confirmation.
Tips for Borrowers
Compared to Other Loan Types
When comparing long term personal loan providers in South Africa, focus on the Annual Percentage Rate (APR) rather than the nominal interest rate alone, as APR includes fees and gives you a true picture of the cost. Compare the initiation fee, which is capped under the NCA but varies by lender, and the monthly service fee applied throughout the loan term. Look at the total repayment amount shown on the pre-agreement quote rather than just the monthly instalment. Consider the lender's flexibility around early repayment and whether penalties apply. Also assess the speed of payout and the quality of customer support by checking verified customer reviews and our rating on loanrating.co.za. NCR registration status should be confirmed before you proceed with any lender.
Frequently Asked Questions
What is the maximum loan amount I can get on a long term personal loan in South Africa?
Most NCR-registered lenders offer personal loans of up to R350,000, though the amount you qualify for depends on your income, existing debt obligations, and credit profile. The NCA requires lenders to conduct an affordability assessment, so you will only be approved for an amount your income can sustainably support. Some lenders set lower internal caps, so it is worth comparing multiple providers.
How is interest calculated on a long term personal loan?
Interest on personal loans in South Africa is calculated on a reducing balance basis, meaning you pay interest only on the outstanding principal each month. The NCA caps the maximum interest rate a lender can charge, and your personalised rate is set based on your credit risk profile. This means borrowers with stronger credit histories typically receive lower interest rates.
Can I repay my loan early and will I be penalised?
The NCA permits you to settle your personal loan early at any time, and lenders are allowed to charge an early settlement fee. This fee is capped by the NCA, but you should confirm the exact amount before signing your agreement. Settling early can save you a significant amount in interest despite the fee.
What happens if I miss a monthly repayment?
Missing a repayment can result in penalty fees being added to your account and the missed payment being reported to credit bureaus such as TransUnion or Experian, which will negatively affect your credit score. Persistent missed payments can lead to your account being handed over to a debt collector or legal action being taken. If you are struggling, contact your lender immediately to discuss a payment arrangement before you fall into arrears.
What is DebiCheck and why does it matter for my loan repayment?
DebiCheck is a secure debit order system introduced in South Africa that requires you to authenticate your repayment mandate directly through your bank before deductions can begin. This protects you against unauthorised debit orders by ensuring only amounts you have confirmed can be collected. When your lender initiates a DebiCheck request, you will receive a notification from your bank and must approve the correct amount and date before your loan funds are released.
Will applying for a loan affect my credit score?
Yes, when a lender runs a full credit check as part of your application, this is recorded as a hard inquiry on your credit report and can slightly lower your credit score. Applying to multiple lenders in a short period compounds this effect, so it is advisable to compare offers using a comparison platform before submitting formal applications. Soft checks, such as those used for pre-qualification estimates, generally do not affect your score.
Do I need to provide collateral or a guarantor to qualify?
Long term personal loans in South Africa are unsecured, meaning you do not need to pledge any asset such as your home or vehicle as security. A guarantor is also not typically required, though some lenders may request one if your credit profile is borderline. Because these loans are unsecured, lenders rely heavily on your credit score and affordability assessment to determine eligibility.
How does POPIA affect my personal loan application?
Under the Protection of Personal Information Act (POPIA), lenders are legally required to protect your personal data and may only use it for the purposes for which you have given consent. You have the right to know what information is held about you and to request its correction. Reputable NCR-registered lenders will include a POPIA-compliant privacy notice in their application process.