Short Term Loans are also known as (short term cash loans, short term loans online)
We've all experienced temporary cash flow problems. As much as it is an unpleasant situation, you need to act fast. Our online loan service is fast and confidential, offering access to cash when you need it most, by connecting borrowers with lenders.
At Mr Cash Loans we provide Short-term loans as a quick solution for temporary cash flow problems. The process of applying for a short-term loan is designed to be easy and fast. Once you submit an application, we present it to our lending partners, helping you find a lender most likely to approve your loan.
Qualifying for final approval depends on several factors, including your credit rating, affordability, and employment status.
Our short term online loan service is free and confidential, providing customers access to cash when they need it most, matching prospective borrowers with prospective lenders for short-term loans.
For Longer term loans you can have a look at our personal loans
What is better a short-term or long-term loan?
Our Short Term Loan Offerings
Short-term Cash Loans
Short monthly terms, can be repaid over three, four, five, six monthly installments, without the need for a single lump-sum payment on payday.
- 1 - 6 month repayment period
- Loan Amounts R500 - R8 000
Payday Cash Loans
Payday loans, which are repaid in one lump sum on your next payday, and cash advances that are repaid within a short period, often based on your income.
- 1 month repayment period
- Loan Amounts R500 - R4 000
How can I apply for a short term loan?
You can apply for a short-term loan online, by filling out our online application.
What you need to apply for a short term loan?
- South African ID book or ID Smart Card
- Latest Payslip
- Latest 3 month Internet Bank statements
How much does a short-term loan cost?
South African short loan installment consists of the following costs:
- Interest: The maximum interest rate for a first loan in a calendar year is 5% per month and 3% for repeat loans during the same calendar year
- Monthly service fee: Standard monthly service fee of R69 (including VAT) is applied to all loan accounts.
- Credit life premium: Credit life premium is charged monthly. This premium is based on the Rand value of your loan at the time of application.
- Initiation fee: Once-off initiation fee is applied to new loans. This is R165 plus 10% of the loan amount in excess of R1,000 (capped at R1,050 excluding VAT).
Short-term loans offer a quick and confidential way to access cash when you need it most, with various repayment options to suit your financial needs.
Please note our Basic Criteria and Required documents for a short term loan. Responsible borrowing and lending is a point of focus in the credit act, and is something you should consider two, focus on not borrowing more that you can afford to pay back, remember to keep your current expenses in mind when requesting a loan amount.