Borrowing money from Wonga.co.za. Flexible, fast loans. (2024)

FAQs

Is Wonga loan legit or not? ›

There is an increase in fraudsters using the names and logos of reputable lenders and banks in order to cheat you out of your hard-earned cash. Wonga is just one of the companies that these criminals are using to target consumers attempting to get your money.

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.

It's straightforward to submit an application and, if approved, you'll get the money in your bank account in a flash. For more info, check out How it works. New customers can apply for a Wonga cash advance of up to R4000, repayable from 6 days up to 3 months.

How much can I borrow with Wonga's urgent cash loans? We offer up to R4000 with up to 3 months to repay for new customers and up to R8000 with up to 6 months to repay for existing customers. Our application process is fast and intuitive and is designed to help you when you need an urgent online loan.

Not checking if people can afford loans is a widespread problem in the payday loan industry, says Citizens Advice. Today, Wonga has been ordered to write-off the loans of 330,000 people because they did not properly establish if they could repay.

What is the easiest loan to get approved for? The easiest types of loans to get approved for don't require a credit check and include payday loans, car title loans and pawnshop loans — but they're also highly predatory due to outrageously high interest rates and fees.

Instant loans online

Wonga offers loans from R500 to R8000, and for as little as 6 days up to a maximum of 6 months.

The closest competitor to wonga.co.za are letsatsifinance.co.za, sunshineloans.co.za and boodle.co.za.

How can I get an instant loan immediately? ›

EarnIn, Dave, Brigit, Chime and Current are the top cash advance apps if you need funds before your next paycheck and want to avoid pricier payday lenders. Key Takeaways: EarnIn is the top option for cash advance apps because it offers high advance amounts and doesn't charge mandatory fees.

Those who were mis-sold payday loans by Wonga before it collapsed will receive just 4.3% of the compensation they're owed, according to the firm's administrators. Around 360,000 former customers of the payday loan giant, which went into administration in 2018, are due money back.

Wonga, which collapsed in 2018, was once the UK's biggest payday lender but its practices attracted intense scrutiny. In 2014, the Financial Conduct Authority (FCA) found it had lent money to many who would never be able to repay, prompting a crackdown on the sector.

Wonga currently offers a payday loan, which is suitable for a new customer when you require finance for a shorter time period of a minimum of 4 days up to a maximum of three months. Personal loans are typically paid in instalments over the loan period.