How it works

Applying is simple because our unique service is online from start to finish. 

 

Get Started

Step 1:

Decide how much money you need and when you want to repay it.
Move the sliders on the homepage and decide exactly how much cash you need and after how many days you’d like to repay us. We'll show the full cost of your loan in real-time and once you're happy click the ‘apply now’ button.



Step 2:

Complete our secure online application form.
You will need to provide us with your personal information on our online application form so that we can determine if you qualify for the loan you want. You will need to provide us your ID number, employment details, monthly income and expenses as well as your bank account information.  We will provide you with a decision immediately.



Step 3:

We verify your income.
Once your loan has been approved, we will need to verify your income. You will need to provide us with three of your most recent payslips or bank statements which clearly show your personal details as well as your income for the last 3 months.



Step 4:  

The money is transferred to your bank account.
We will be hard at work behind the scenes to verify your income and transfer the cash to your bank account. We will collect repayment from your bank account on the due date, so you just need to ensure the required funds are available.

 

Short term credit

We don’t want to keep you in debt. That may sound odd coming from any lender, but Wonga provides fast cash advances for a few days or weeks. We’ll only lend you money for up to a month and you are always free to pay us back early with no hidden fees.

Unlike some lenders or credit card providers, we won’t keep extending your existing balance or encourage you to make minimum repayments. So please think very carefully before you apply, because we expect you to repay us when you promise to. If you have any doubts or are unsure you'll be able to do that comfortably, please don’t apply in the first place.

 

Transparency

We'll always tell you upfront what the cost of your cash advance will be. There are no catches or extra costs to worry about, providing you stick to your side of the deal. Our service has an annual interest rate of 36%, but bear in mind that a Wonga loan is only for between one day and a month. Only looking at the annual interest rate when considering a Wonga cash advance is a bit like trying to plan a weekend away at a fancy hotel, using the theoretical cost if you were to stay all year! We also show you an example of the cost of an average loan to show you a clear breakdown of interest and fees. Included in this is our R68,40 per month service fee that helps cover the cost of our super-fast cash deposit system - the quickest cash transfers on the web. All of this is shown upfront so you can judge the cost of a loan before you apply. Fees include 14% VAT.

 

Failure to stick to your side of the deal

The only way costs will mount beyond our initial calculation is if you don’t keep your promise. In other words, if you ask us to change your repayment date, or don’t ensure sufficient funds are available for automatic collection. If our early morning collection attempt is declined by your bank - because you haven't made sure there are enough funds available - we will do our best to contact you throughout the day. We always hope to resolve the situation that day but your bank may charge you for not having sufficient funds available in your account.

We will then make further attempts to collect the money from your account and our professional collections team will also keep trying to contact you to discuss the situation. If your circumstances have changed significantly, they will do their best to offer a solution and come to an arrangement that helps you get back on your feet, which is always our goal.

We don’t believe in hitting you with ongoing and multiple charges, like most traditional lenders, but interest and service fees will continue to mount on your balance for up to 90 days if we can’t reach a fair agreement in the meantime. If you don't work with us and we can't recover the money over a reasonable period, your account may be passed to an external collections partner.

Continued failure to repay a loan will also mean credit bureaus will record the outstanding debt. Records remain on file for a number of years after they are closed, whether settled by you or defaulted.

Finally, your Wonga trust rating will take a knock and you probably won't be able to borrow from us again.

None of these things are worth the risk, so if you have doubts about whether you'll be able to comfortably repay a loan, please don't apply in the first place.