Choosing a loan

Shop around

Whenever there’s choice in life, it’s never a good idea to commit to anything without at least researching some of the alternatives, especially a financial commitment. There are services on the internet which can help you find an online loan. Wonga offers very flexible short term loans of up to R8000. (R4000 for first time customers)

Can you afford it?

It’s vital you think carefully about whether or not you can comfortably afford to repay the loan you are considering. If you have any doubts, don’t take the loan in the first place.

Loan duration

The repayments might be smaller with longer deals, because you are spreading the repayments more thinly, but the total amount you have to repay may be higher because you’re paying interest over a longer period. Always look at the full cost of a loan as well as the amount of any individual repayments.


Some deals come with additional fees, such as arrangement fees. They could be worth paying if the overall cost of the loan is still appealing, but make sure any such cost is taken into account.


You might not always have much choice, but it can pay to have flexibility, especially with a longer-term loan. It could mean you can pay more or less than usual some months, or take a repayment holiday. Wonga offers very flexible short term loans of up to R8000.


Ensure you have a good understanding of what’s being offered - any advice you are given should be clear and, if you don’t understand something or feel you are being bamboozled by jargon, don’t be afraid to ask for clarification.