Secured Loans In South Africa: The Complete List

When banks and other lenders reject your loan application, it means only one thing:

You have bad credit and considered high risk

And that’s where secured loans come in, to give you access to cash when you need it the most.

Let me show you how secured loans work.

What are Secured Loans?

A secured loan is a type of loan that requires you to provide collateral or assets against the amount you want.

The lender will keep the asset until your secured personal loan is paid off.

Examples of assets you can put against your loan include:

  • A property/house
  • Money
  • Car
  • Laptops
  • Phones

And anything valuable, equivalent to the amount you wish to apply for as a cash loan.

You’re not selling your items, but instead securing the loan for the money you need urgently today.

Want to know the best part?

Secured loans in South Africa are usually offered at the lowest interest rate due to having possession of your collateral.

And you can use the money however you want.

Secured Loan Lenders in South Africa

In South Africa, there are many secured loan providers but here’s the best list with a proven track record.

1. Cash Crusaders Loan

Cash Crusaders secured cash loan offers amount from R1,000 to R15,000 when pawning your product. This includes small items as compared to securing the loan with your house.

The company offers payday loans which you can pay back within 30 days.

You can apply for Cash Crusaders loan online. Once approved, drop valuables off at your selected store and collect your cash.

And you’ll have 30 days to repay the loan, with all the charges such as interests and setup fees.

2. Cash Converters Advanced Cash

Cash Converters offer a one-month, payday online loan against your goods.

Simply submit your item at the store and a consultant will evaluate and offer you a loan amount.

Cash converters take most items – from phones to electronics, jewellery, power tools, microwaves, and many more.

Once approved, you’ll get the cash instantly, at the spot and you can spend it for your most needed financial obligations.

3. XCELSIOR Collateral / Secured Loans

XCELSIOR provides secured loans to people willing to pledge their assets or collateral.

The loan is easy to apply for since it’s not entirely dependent on the credit report. Your collateral will cover the costs of the loan should you fail to pay the loan off.

It’s that simple.

Blacklisted are welcome to apply for XCELSIOR loans because there will be no background and credit checks, the value of your items will determine everything about the loan.

Secured Loan Calculator

Before you apply for the collateral personal loan, use our free loan calculator to work out your affordability first.

Use the calculator to determine your monthly installments, the interest charged and the total repayment of your loan to get your collateral back at the end of the loan period.

Start your loan journey with peace of mind, knowing you’ll be able to afford the loan before a sales consultant tells you will.

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