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How you can apply for a personal loan via our website

An article in the Business Report section of www.iol.co.za, published on the 3rd December 2019, wrote that in the latest Consumer Default Index (CDI), released by Experian South...
Posted in Borrow, Past-Articles, Personal Loan | Leave a comment

Looking to buy a car this year? – Here are a few finance options worth considering

According to NAAMSA (National Association of Automobile Manufacturers of South Africa) there were 41 698 new vehicle sales across the country in December 2019 alone. That’s a lot...
Posted in Borrow, Car Insurance, Vehicle Finance | Leave a comment

Springboard Into A New Decade With These 28 Money Saving Strategies

Hopefully this article finds you chilling under a candy stripped umbrella somewhere on a sandy South African beach. And if that isn’t the way you are spending your...
Posted in Credit Report, Money, Money Tip | Leave a comment

Debt Trapped South Africans Have These 3 Options Available To Them

Even if you don’t buy into all the mainstream New Year’s resolution hype, you can’t deny the fact that there is a moment (sometimes just a fleeting moment)...
Posted in Borrow, Debt Consolidation, Debt Counselling | Leave a comment

How Much Of Your Salary Should Be Going Towards Paying Back Credit Agreements?

Receiving your salary into your bank account at the end of the month is like introducing an ice cream cake at a nursery school party. Let’s just say...
Posted in Borrow, Credit Report, Debt Consolidation | Leave a comment
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What’s the difference between a Medical Aid Plan and Medical Insurance?

Whichever way you look at it, you simply can’t afford not to have some form of medical cover in place if you live in South Africa. The state...
Posted in Health Insurance, Hospital Cover, Hospital Insurance, Insurance, Medical Aid | Leave a comment

What can you do if you are single parent and battling to get financial assistance from your Ex?

What can you do if you are single parent and battling to get financial assistance from your Ex? Are you a single parent due to a divorce or...
Posted in Insurance, Legal Insurance | Leave a comment

Looking to buy a car this year? – Here are a few finance options worth considering

According to NAAMSA (National Association of Automobile Manufacturers of South Africa) there were 41 698 new vehicle sales across the country in December 2019 alone. That’s a lot...
Posted in Borrow, Car Insurance, Vehicle Finance | Leave a comment

Will Any Insurer Be Prepared To Cover Your Household Goods Over The Christmas Period?

It’s almost holiday time and in a few weeks millions of South Africans will be off on their annual migration to different parts for our country for a...
Posted in Home Contents Insurance, Home Insurance, Insurance | Leave a comment

People Like You Are Seriously Considering Products Like These

What’s the first thing we do when we are considering buying a new book, taking a holiday or even enjoying a meal out at a new restaurant? We...
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Retiring well means making the best savings descisions. Choose wisely. Start here.

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Serious About Saving For Your Kid’s Education? – Here Are 3 Easy Steps To Follow

It costs a lot of money to send your kids to school. It costs even more to send them to University. But you know this already, so we’ve...
Posted in Education Savings Accounts, Invest | Leave a comment

4 Types Of Investment Funds You Can Start Thinking About This January

It sounds like a bit of a cliché, but times are still very tough for millions of people across our country. Presently, South African consumers owe a staggering...
Posted in Invest, Money | Leave a comment

Investing in Tax-Free Investments when returns seem flat

So, you’ve been investing in your tax-free investment for the past few years and it seems as if nothing is happening. The only growth you can see is...
Posted in Invest, Tax Free Savings Accounts | Leave a comment

Can you invest in a Retirement Annuity if you only have R300 a month to invest?

Picture it - no more need for that alarm clock, no rush hour traffic to deal with, no KPIs or deadlines to meet, and no boss to answer...
Posted in Invest, Retirement Annuities | Leave a comment

How much will I be taxed if I withdraw my pension fund monies?

It’s estimated that before you reach the age of forty, you might already be into your 10th job! By the time you contemplate retirement, that figure will probably...
Posted in Financial Planning, Money, Retirement Annuities | Leave a comment
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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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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.