Small Loans

Small Loans | Little Loans From Wonga

What are small loans?

Small loans, or ‘little loans’, are designed to provide a limited sum of loaned credit to tide you over for a short emergency period. With Wonga South Africa, new customers can borrow up to R4000 for up to 3 months. Returning customers can borrow up to R8000 and repay up to 6 months.

When should you apply for a small loan?

You might consider applying for a mini loan when you are faced with a short-term financial emergency, such as the need to make repairs in your home, or to your car. Small loans are not suitable for paying off other debts, as here you would simply be exchanging one form of debt for another. You should also avoid taking out a little loan to meet regular expenditure as if your income isn’t sufficient to cover your expenditure this month, you need to draft a monthly expense budget which will help you live within your means and cut unnecessary costs.

Can I get a small loan if I'm unemployed?

We ask that all applicants have some form of regular income, so you may be able to obtain a loan if you are unemployed, or aren’t working full-time as long as you have a means of regular income that we can verify through your bank statement. Whatever your sources of income are, you need to be confident that you have the means to repay your small loan before you take it out.


Can I get small loans with bad credit?

You may be able to obtain a small loan from Wonga South Africa if you have adverse information listed within your credit history. Once you apply online for one of our loans we carry out an automated credit check and scoring process. Failing to make payments on a previous credit commitment will not automatically lead to your Wonga application being declined, as there are many factors we take into consideration when assessing applications for small loans. It is important to be totally honest and transparent when making your application, providing all of the information we ask for, whilst also making sure that the information is accurate.

What about loans for self-employed people?

If you are self-employed and looking for a loan then your bookkeeping, frequency of work and total earnings are important. To successfully apply for a Wonga loan when you are self-employed, your bank statement will need to show you receive a regular source of income. The longer the history of this steady income, the better - as we want to ensure our customers are in a position where they can comfortably repay their loan without incurring additional costs.


What to consider when applying for small loans?

Wonga South Africa will consider your application for a little loan if you have all of the following:

  • A cellphone number
  • Your SA ID number
  • A valid South African bank account
  • Some form of regular income, and you can provide proof of the amount of this income via a recent payslip or bank statement

Once you have applied, Wonga then will assess your application to ensure you are likely to be able to repay your small loan.

How do I apply for Wonga little loans?

Wonga South Africa offers small loans online. Visit our website and use the sliders to choose how much you want to borrow, and how long you want to borrow it for. As a new customer, you can borrow between R500 and R4000, for between 6 days and 6 months. You can see exactly how much the loan repayment amount will be upfront.

Once you have selected the loan amount and the term of your small loan, click the Apply Now button. This takes you to Wonga’s secure online application form, where you will be asked to enter your personal details, such as your ID number, employment details, monthly income and expenses and bank account details. Once you have provided this information, the automated checking process takes place, and we will provide an instant decision as to whether your online little loan application has been successful.

If you have been successful at this stage, there is one step you need to do. Wonga will need to see proof of your income, so you need to provide a recent payslip or bank statement clearly showing your income.

Once you have provided satisfactory proof of income, the funds are transferred to your bank account. This usually happens on the same day you are approved for a loan, or sometimes on the following business day. You can click here to read more about how our loans work.

What happens if I can't repay my little loan on time?

If you think you may be unable to pay back your loan on time please call us as soon as possible on 0861 966 421 to discuss repayment options available to you.

Failing to repay the loan on time will impact your credit score, and your chances of obtaining credit in the future, whether from Wonga or any other company, could be affected.

However, if your financial circumstances mean that you can’t pay the loan back on time, then our professional collections team will contact you and try to find a solution to the problem, such as agreeing a new repayment schedule.

If you can’t reach agreement with us, then interest and service fees will continue to be charged on your loan for up to 90 days. Late payment fees may also apply.