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Springboard Into 2021 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

Overdraft facility explained

Having your card transaction declined when you are making a purchase can be embarrassing. Being penalised for having insufficient funds in your account is even worse. However, banks...
Posted in Borrow, Credit Card, Payday Loan | 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

Do’s and don’ts when you’re over-indebted

Having too much debt can keep you from reaching your financial goals. This is why you need to manage your money wisely to ensure that this does not...
Posted in Borrow, Debt Counselling | Leave a comment

What should you do if you get a final Letter Of Demand?

Stick up your hand if you have a few credit agreements in place? Now stick up your other hand if you’ve fallen behind with some of your debt...
Posted in Borrow | Leave a comment
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The question for 2021 is “What if?”

Living with your family 24/7 for a good few months last year was interesting, wasn't it? Within the confounds of our shelters, we all hunkered down stockpiled and...
Posted in Critical Illness cover, Disability Cover, Funeral Plans, Health Insurance, Income Insurance, Insurance, Medical Aid, Money, Unemployment Insurance | 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

No Discovery Health medical aid increases for the first six months of 2021!

No Discovery Health medical aid increases for the first six months of 2021! If you belong to a South African medical scheme, the odds are you have a...
Posted in Health Insurance, Insurance | Leave a comment

MoneyShop Youth Month Survey

June was Youth Month. And so we took a look at how a parents finances affect their children. Some key items to take away: More than half of...
Posted in Borrow, Education Savings Accounts, Insurance, Life Insurance, Medical Aid, Money, Surveys | Leave a comment

MoneyShop Savings Survey

Spring is in the air! It is a new month, it is a new season!  Please complete our survey so we can better understand how you save, and...
Posted in Borrow, Education Savings Accounts, Insurance, Money, Surveys | Leave a comment
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Retiring well means making the best savings descisions. Choose wisely. Start here.

Read our Latest Investment Articles

Use your TFSA to take care of all those 2021 savings goals

"Roy?" "Yes?" Roy replies as he puts down the Sunday newspaper and peers at his wife over his spectacles. "Don't you think our bathroom is starting to look...
Posted in Banking, Invest, Money, Money Tip, Tax Free Savings Accounts | 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

MoneyShop Youth Month Survey

June was Youth Month. And so we took a look at how a parents finances affect their children. Some key items to take away: More than half of...
Posted in Borrow, Education Savings Accounts, Insurance, Life Insurance, Medical Aid, Money, Surveys | Leave a comment

All you need to know about a Tax Free Saving Account

So you’ve heard the adverts on the radio, but is it true?  Can you really save money and then withdraw it tax-free? Are you eligible? If you are, how...
Posted in Invest, Money, Money Tip, Savings Accounts, Tax Free Savings Accounts | Leave a comment

MoneyShop Savings Survey

Spring is in the air! It is a new month, it is a new season!  Please complete our survey so we can better understand how you save, and...
Posted in Borrow, Education Savings Accounts, Insurance, Money, Surveys | 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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072-994-1518

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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.