How to Apply for High Risk Loans Guaranteed Approval South Africa - italkloans

How to Apply for High Risk Loans Guaranteed Approval South Africa

High risk loans guaranteed approval south africa are a perfect option for people with a low credit score. Here’s a list of South African lenders to consider:

  • Kamela Quick Cash – Amounts of up to R5,000 
  • iThemba – Quick cash loans of around R8,000
  • Hoopla – Amount up to R250,000
  • EZI Finance – Approvals of up to R8,000
  • uBank – Offers ranging from R1,000 to R180,000
  • Binixo – Flexible offerings of as much as R9,000
  • Blink Finance – R4,000 emergency cash;
  • Mulah – No paper loan of around R4,000.

According to My Credit Status South Africa, more than half of adults in South Africa have a bad credit score. If you have a poor credit score, submitting your application to banks and other lending companies may not be fruitful.

Are you looking for a quick personal loan? Apply with us today to get multiple loan offers in minutes. Our select list of lenders offers the most affordable personal loans in South Africa.

Show more results

What Causes Bad Credit Scores Among South Africans?

Your credit score is a reflection of how you handle your finances. Most South Africans with bad credit scores would have failed to pay bills on time, defaulted on loan payments, or failed to settle credit card debt. 

high risk loans guaranteed approval south africa

If you have been struggling with money issues for a while, you can even end up being blacklisted. Being blacklisted simply means your name has been flagged by the credit bureau. 

Once you have been added to a blacklist, it will be very difficult for lenders to work with you in the future. You’ll also struggle to get access to financial products like debt consolidation loans and basic services. 

Did you know that being blacklisted can make it difficult for you to find a house or flat to rent? Fortunately, that won’t stop you from getting help.

What are High Risk Loans Guaranteed Approval South Africa?

The word risky, in this instance, refers to you, the borrower. But what makes you a risky borrower? Here are a few things:

  • You are blacklisted
  • There’s nothing to use as collateral
  • You have a poor credit score
  • Asking for a huge amount
  • You are currently failing to refund the money you owe
  • There is an eviction notice for rentals on your record
  • You don’t have proof of income
  • The lender hasn’t worked with you in the past
  • You are asking for a lot of money;
  • Banks and other lenders have declined your application.

A lender who specializes in high risk loans guaranteed approval in South Africa may still give you money even if there’s a possibility you may not return it. This means you need to find a way to convince them somehow. 

Why Would Any Lender Give Out Bad Credit Loans?

A lender will only consider your application if they see proof of steady income. Please keep in mind that proof of steady income is not proof of employment. It’s just proof that you earn money regularly and are able to make repayments.

Some lenders will also consider giving you money if you give them something to hold on to. For instance. Read Loan Against Car Papers South Africa.

Backing up your application with an asset is a great way to convince the lender that you will pay back the money. After all, if you don’t pay they will just sell your assets and recover their money.

Collateral-based finance is the same as pawning your belongings for money. You can use a few items as collateral to increase your chances of getting high risk loans guaranteed approval South Africa.

Here are some personal belongings you can use as collateral:

  • A television set
  • Your car
  • Furniture
  • Appliances 
  • Gadgets
  • Fitness equipment

You must be very cautious when applying for secured loans. Getting application forms may be easy but these packages usually have high interest rates and difficult terms and conditions. 

Borrowing money from a lender who has stringent payment terms can be difficult to pay back. As such, you risk losing your belongings if you default. Therefore, be careful when working with lending companies.

Eligibity Requirements

  • Being over the age of 18
  • You should be a South African citizen
  • Have a valid ID or driver’s license
  • Proof of income

How to Apply

Most lenders who offer loans of this type accept both online and branch applications. However, most people prefer the online application option due to its convenience.

Loan application online

Places to Check for Bad Credit Lenders in South Africa

  • Social media
  • Ask colleagues, friends, and family
  • Check the local newspaper
  • Use Google Search to find types of loans and lenders
  • Check local shop noticeboards

South African Lenders to Consider

Here are your options when looking for high risk loans guaranteed approval South Africa:

Microfinance Businesses

According to MFSA, there are more than 1300 Microfinance Credit provider offices. Here are some you can consider.

iThemba: Fourth floor Flora Centre. Conrad St and Ontdekkers Rd, Roodepoort, Gauteng.

Kamela Quick Cash Loans Pretoria: 211 Robert Sobukwe/Esselen Street, Sunnyside

Read how to apply for credit from Kamela.

Finbond Micro Finance: Shop Number 35A Rea-Hola Comp, Botshabelo, Free State

S A Micro: 496 Louis Botha Avenue, Highlands North, Joburg

Citizen Cash: Ben Viljoen Street, Pretoria

Pawn Shops

Have you ever heard about pawn shops? A pawn shop gives out short-term collateral-based debt. One of the most popular pawn shops in South Africa is Cash Crusaders. 

If you need some money and can’t get your application approved by a bank, you can take some valuables and your ID to your local Cash Crusaders store. 

Each branch has financial consultants who will value your goods and tell you how much money you qualify for. They will also explain interest rates and other terms. 

When you apply for high risk loans guaranteed approval South Africa, it’s essential to ensure you keep up with your installments. If you fail to pay, you can lose your belongings.

Retail Stores That Lend Money in South Africa

You can also get a loan from one of the leading retail stores in South Africa. Shops that give have a credit facility include:

Registered Lenders

Several registered lenders give out money to people with less-than-stellar credit scores. Here are some you may want to consider.

  • Hoopla – R250,000.
  • Binixo – R9,000
  • uBank – R180,000
  • Blink Finance – R4,000
  • Mulah – R4,000
  • EC – R120,000
  • EZI Finance. – R8,000

How to Use Money From High Risk Loans

It’s not advisable to borrow money and use it for luxury purchases. You should only consider this option if you are in some sort of financial trouble. This is because debt is expensive. With most lenders, you will pay back significantly more than you borrowed. 

Here’s how you can use the money from a high risk loan:

  • To pay rent
  • For school fees
  • Medical bills;
  • Covering emergency travel expenses.

You can also take out credit from companies like Cash Crusaders to avoid missing installments. For instance, if you have a credit card bill to pay and don’t have money at the moment. 

Getting high risk loans guaranteed approval South Africa will help you make payments on time so that your credit score remains intact. Did you know that defaulting on payments will affect your credit score? 

If you keep failing to pay back your debts, lenders will report you to credit bureaus. This can affect your ability to get your applications approved in the future.

Advantages of High Risk Loans Guaranteed Approval

  1. Fast approvals
  2. No need for credit checks
  3. You get an amount that’s proportional to the value of your pawned goods
  4. No need for bank statements and payslips
  5. It’s easy to get money for emergencies
  6. Other Options to Get Money if You Don’t Have Collateral

Getting online loans for bad credit in South Africa can seem impossible if you have a bad credit score and no collateral.

Ready to Get Out of Financial Trouble?

Are you desperate for cash? Having money problems can be pretty stressful. You need to find a reliable lender who will not charge ridiculous interest rates.

The good news is that a bad credit rating is not the end of the world. Bad credit personal loans guaranteed approval in South Africa can be a solution to your problems. 

Additional Lenders to Consider

Here are other lenders who may be able to give you some money if you have a bad credit score and you can’t get money from banks:

FinChoice MobiMoney

You can get up to R4000 if you have a bad credit score. The repayment period is usually one to three months, with monthly payments of up to R1,682. Visit Finchoice to view their list of


This lender gives bad credit packages of up to R250,000, with a repayment period of up to 72 months and monthly interest of 5.00%.


This facility gives up R4000, with a one-month payment period and interest rates of 5.00%. Visit the site. 

High Risk Loans Guaranteed Approval Alternatives

If you can’t get money from the lenders listed above, here are other options to explore. You can:

  • Look for peer-to-peer credit online
  • Research no credit check payday lending
  • Talk to your employer, colleagues, friends, and family members
  • Talk to your church pastor

If you are having financial difficulties, getting money from a high-interest lender might not be a good idea. Getting money from a friend or family member will be a better option. After all, they are likely going to give you the money interest-free. 

Are you struggling to find personal loans in South Africa? Get in touch with us today. We may be able to find a lender who will give you money even if you have bad credit.

1 comments On How to Apply for High Risk Loans Guaranteed Approval South Africa

Leave a reply:

Your email address will not be published.

Sliding Sidebar