Short term loans in South Africa are great when you need cash for an unexpected expense or grudge purchases you haven’t budgeted for, but they’re not always easy or quick to get. Wonga offers short term loans that are easy to apply for and quick to receive.

Sometimes you just need a quick loan. The problem is that most short term loans and a lot of unsecured loans from banks will only let you borrow set amounts and penalise you for paying it back quickly. But now there’s a totally new way of borrowing cash – introducing Wonga.com.

Why are some short term loans so expensive?

A lot of credit providers don’t do a credit check, which is an excellent loophole for people with bad credit, but if you do have fair or good credit it means you’re effectively being penalised. In order to get a short term loan, you’ll have to pass our credit check, which usually only takes a few seconds.

Whatever you choose to spend it on, you don’t have to justify it to your lender, although they do advise that their short term loans should only be used when you are faced with an unexpected expense you haven’t budgeted for. All they ask is that you only borrow what you can afford to repay within a month. Just think of it as a cash advance before your money comes in.

With so many financial organisations offering short-term loans, or any kind of loan for that matter, you’re faced with the dilemma of figuring out which one is right for you: which loan will suit your financial state and lifestyle.

It’s important to know beforehand that short-term loan providers have set a few criteria for an applicant to qualify for a payday loan. You need to be a citizen of South Africa and older than 18. You must be employed and earn a regular salary and hold a valid bank account.