Flexible loan

Flexible loan

Looking for a truly flexible loan? A lot of so called flexible loans aren't that flexible at all. They come with all sorts of complicated terms and conditions. Even most payday loans usually work on the basis that you'll pay the loan back after a month and you need to borrow a set amount. But a Wonga loan is different.

How flexible are loans from Wonga?

Depending on your trust rating, we're completely flexible with how much you borrow from us – whether it’s R500 or R3000. Unlike banks, which don't generally do loans of under R1000, with Wonga you can borrow between R500 and R8000. Select how much you would like to borrow and the exact date you promise to pay it back and Wonga calculates how much the repayment will be before you apply. So take it over fewer days, or reduce the amount you need down to the exact cent, and you’ll pay less. It’s a small, flexible loan that’s in your control.

Repaying early

You can even pay back your Wonga loan early with no additional fee. With many bank loans, you can be penalised for paying off your loan early, as they won't make enough interest from you otherwise. But at Wonga, we're not about making your loan harder to pay off; we're more about lending you small amounts over short periods. Your lifestyle doesn't have to suffer on those occasional months you start running out of money before payday.

Is your loan flexible with late payments?

If for some reason you think you might be late with your payment, you can let us know. We know that sometimes these things happen and we are flexible enough with our cash loans to consider extending it for you. You should be aware that if we do agree to extend it, we will require a part payment of the current balance. This of course lowers the remaining balance on which you’ll continue to accrue interest, during the extension period. Unlike some lenders we won’t give you endless extensions without reducing the balance, which can lead to a cycle of debt and unrealistic monthly repayments.

How can you spend your flexible loan from Wonga?

We don't need to know the reason for your loan, all we ask is that you only borrow what you can afford to pay back.

You don’t have to suffer on those months when you just can't stretch your money any further. When there's too much month at the end of your money, get a short term loan that's flexible, fast and affordable with Wonga. We’ve worked hard to create a range of repayment options that offer affordable loans while also improving the flexibility our customers have to choose a repayment plan that works for them.