Payday Loans Online

Payday Loans - Your 2024 Guide by Wonga South Africa

Understanding payday loans in South Africa

  • Online payday loans are a fairly new product to South Africa, as such we’ve provided the information below to help you fully understand the details of our payday loans alternative.
  • A payday loan allows you to borrow the amount of short term cash you need with a quick and easy online application. For example, as a first time Wonga customer you can apply for up to R4000 for a maximum of up to three months starting from the day you take out the loan. Existing customers can repay over up to 6 months. Payday loans can be paid back early to reduce the collective cost of the credit.
  • Payday loans in the past have sometimes been presented in a negative light. You may hear about "astronomical" interest rates and charges, and how they’ve left desperate people in ruins. Well, this is where the Wonga payday loans ‘alternative’ is different.
  • Firstly, Wonga is not a traditional ‘pay day loans provider’ because we don’t actually require customers to repay the loan on their pay day. We’ve improved on the traditional pay day loan product by offering many unique benefits. Wonga provides:

A Flexible Payday Loan

At Wonga, we understand that unexpected expenses require a quick response. It’s our goal to deliver a fast payday loan option when you need it most and not have you waiting for days. The Wonga application is quick and straight-forward and in most instances the decision is given instantly. You will then need to submit your documents showing proof of income via our online document uploader and once your application has final approval your funds will be transferred to you as an instant payday loan.

An Online Payday Loan

You can apply for our payday loans online over any device that connects to the internet, our entire process is 100% online from start to finish. We don’t ask you to fax us any documents or to come to our offices to collect your money. We want you to be able to access Wonga where it’s convenient for you, whether that be at home, work, the coffee shop or the library.

A Direct Payday Loan

There are two types of payday loan website; ‘brokers’ and ‘direct lenders’. Wonga is a direct lender, which means we offer payday loans directly to our customers through our own website. Going direct with Wonga means you avoid potential broker fees or middlemen. The direct approach also reduces the risk of miscommunication as the lending facts are presented clearly before you apply.

A Responsible Service

We take every precaution to ensure our customers can use our loans correctly and safely. Our goal is not only to help people obtain short term loans but to also help educate and inform our customers. That’s why we launched the Money Academy. There you’ll find all sorts of education videos on everything from debt management to budgeting and investment guidance. We’re here to help you.


Learn More with our Representative Loan Example

Borrowing a loan can be calculated as follows

  • Borrowing R3000 for 30 days:
  • Initiation fee: R419.75
  • Service fees: R69.00
  • Total interest: R168.65
  • Insurance R16.12
  • Total to repay: R3673.52


Loan Renewals

  • Loan renewals and extensions are not available from us. If you want to apply for more credit, you must first repay your current debt in full. Each Wonga loan is a fresh and distinct credit arrangement with its own set of affordability requirements.
  • Returning customers that have repaid their first loan within the agreed terms can take advantage of increased loan amounts (up to R8000) and more flexible repayment terms (up to 6 months in monthly instalment repayments).

Wonga’s Credit Selection Criteria

  • Wonga applies a soft credit check on your account as part of our automated decision-making process.
  • We use strict criteria to ensure we are protecting customers from entering into unsustainable credit agreements that would cause undue financial stress.

Wonga’s Collection Policy

  • We collect repayment via an automatic debit order on the morning of your repayment due date. If the funds are not available in your account this may result in additional charges from your bank
  • Late repayment of your loan will mean extra costs to you and may have a negative effect on your credit rating.

Are payday loans the right choice for you?

  • Wonga loans are only suitable for short term use, they may not be the cheapest credit option available to you.
  • Late repayment of your loan will mean extra costs to you and may have a negative effect on your credit rating.
  • We do not recommend using our loans to manage your existing debt. Learn more about debt management advice here.
  • If you need to take out loans regularly, Wonga may not be the right option for you.
  • You can compare loans online to find the best fit for you.
  • You must be 18 years or older and a South African resident with a bank account to apply for one of our loans. During your application, your credit score will be checked.

Are you still interested in a payday loan?

Then apply now here or learn more about how our loans work.