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Ways a personal loan can help

Personal loans are commonly used to cover unexpected expenses, but they also offer another benefit. You can use the loan proceeds to help keep more of your hard-earned...
Posted in Article, Borrow, Personal Loan | Leave a comment

Is debt review a wise choice?

Is debt review a wise choice? If you find you are in a suffocating financial situation, then this is a question more than likely in the back of...
Posted in Debt, Debt Counselling, Debt Review | Leave a comment

How to debunk debt review

How do you debunk debt review? Some interesting myths busted. It is Saturday afternoon, you and a couple of buddies are relaxing around the braai, enjoying a pint...
Posted in Debt, Debt Consolidation, Debt Counselling, Debt Review | Leave a comment

Is Credit Good or Bad?

To understand credit, we need to go back at least 5 000 years to a time when it never existed. It was around then that Mesopotamia introduced something...
Posted in Borrow, Money Tip | Leave a comment

Have you considered Debt Review

Consider debt review it is a good option. What if you simply do not have enough money at the end of the month to service your debt? What...
Posted in Debt, Debt Consolidation, Debt Counselling, Debt Review | Leave a comment
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Is it important to have funeral insurance?

Is it important to have funeral insurance? Although death is a reality for all of us, a funeral is typically not a planned event. If you would like...
Posted in Funeral Plans, Insurance | Leave a comment

What affects your home insurance?

Ever thought about what affects your home insurance? Home insurance is like your spare tyre. You could go without it, but is it wise? So, even thou you...
Posted in Home Insurance, Insurance | Leave a comment

MoneyShop RealSure Survey

Take part in our MoneyShop RealSure survey & win one of five R1000 Woolworths shopping vouchers. It should take no more than 3-4 minutes. There are no right...
Posted in Insurance, Money, Surveys | Leave a comment

Life insurance questions you should ask

You're in the market for life insurance, nobody really wants to talk about life insurance, it sounds expensive and brings to mind our own mortality. However, having the...
Posted in Insurance, Life Insurance | Leave a comment

Home insurance

A house brings with it a wealth of additional responsibilities, including practical matters such as maintenance and home insurance. There is no point in making this type of...
Posted in Home Insurance, Insurance | Leave a comment
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Retiring well means making the best savings descisions. Choose wisely. Start here.

Read our Latest Investment Articles

How to – Save for rainy days

Make savings part of your monthly budget So, you want to save for rainy days. If you wait to put money aside for when you consistently have enough...
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How to – Save correctly for retirement

Start saving asap One needs to save correctly for retirement. Not next week or when you get a raise or even only next year. Today. Because money you...
Posted in Invest, Money, Retirement Annuities | Leave a comment

How to: Get a retirement investment report from MoneyShop

Ever wondered how you can get a investment report from MoneyShop? Follow the how to steps below, it is simple, quick and easy. Investing is important for your...
Posted in Invest, Investment Reports | Leave a comment

Options for retirement

Pension fund, provident fund or retirement annuity. What are the different savings options for retirement, and which is right for you? Pension fund vs provident fund vs retirement annuity...
Posted in Retirement Annuities | Leave a comment

How to give your child the best education

Every parent wants to offer their child the best education possible, but school and university fees are extremely high meaning that you may not be able to afford...
Posted in Education Savings Accounts, Invest | Leave a comment
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Join thousands of South Africans

MoneyShop Numbers

Loan Value Disbursed
Loan Applications Per Month
Insurance Policies Sold
Insurance Quotes Per Month

* These numbers are accurate as of 30 January 2020. These numbers are combined numbers from the Olico Group who own and operate MoneyShop.

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010-010-0220

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010-010-0220

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How we work and what we do

MoneyShop is SA’s largest loan and insurance finding service, helping over 200,000 clients per month.

Using artificial intelligence, we match the right lending, insurance and investment products to the right people at the right time.

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Frequently asked questions

Interest and loan size will vary from provider to provider. Our loans are broadly categorised into:

 

Personal Loans

  • Typical terms: 12-72 Months
  • Typical interest rate (APR): Between prime and 27.5% per year
  • Typical loan sizes: R10,000-R250,000

Short term loans

  • Typical terms: 2-6 Months
  • Typical interest rate (APR): Between prime 3% and 5% per month (36-60%)
  • Typical loan sizes: R1,000-R8,000

If you are shopping for a loan you have 2 options:

  • Apply for a personal loan. We will do all the heavy lifting and find the right loan for you.
  • Get a free credit report. We do a full analysis of your risk profile and give you detailed information (based on your profile) of which lenders are likely to give you a loan and also what typical loan sizes people like you typically receive.

In order to qualify for a personal loan you will need to have the following:

  1. A South African ID
  2. A minimum income of R4,000 per month
  3. You will also need to pass a credit check.
  4. You must not be undergoing debt counselling

No, MoneyShop is not a loan provider. We simply find the best loan suited to your profile with SA’s top loan providers. We have partnered with SA’s top insurers and personal loan providers to make your online application process for financial services – such as loans, funeral plans, car and home insurance and hospital cover quick and easy! Best of all, our service is free!

Short answer: Maybe, but it depends on how ‘bad’ the blacklisting is.

 

Long answer: Technically there is no such thing as a ‘blacklisting’. It is a term that is used to cover a whole range of different negative indicators on your credit report. So lets break those down:

  • Missed a few payments / Bounced debit order. Missing a few payments on its own wouldn’t disqualify you from getting a loan.  But it would depend on the ‘badness’ of those missed payments.  For example, missing one or 2 payments for a month or 2 is not the end of the world and you will probably still be eligible for a loan – all be it at maybe a higher interest rate.
  • Going beyond 60-90 days on repayments. If you go heavily into arrears on the bulk of your account payments (especially if you are still in arrears). This could disqualify you from getting access to credit.
  • Judgements. A judgement is a where a court has declared you owe money to a company. Like with missed payments, having a judgement on it’s own is not necessarily going to disqualify you from getting a loan. It depends on the ‘badness’ of the judgement.  Which usually means if it is a large judgement (say more then R10,000)  or a recent judgement (say in the last 2 years) then you are unlikely to get credit. But small and/or old judgements usually will not disqualify you on their own.
  • Debt counseling. It is illegal to lend to someone who is going through debt counseling in South Africa.  As such, this will disqualify you from getting any more credit.

If you are unsure what you credit profile looks like we highly recommend you get a free credit report now.  This is your start to financial fitness.