What is Lending?
To let out (money) for temporary use on condition of repayment with interest.
Top Lending Companies In South Africa
Below are some of the Top Lending Companies.
ABSA
ABSA is a subsidiary company of the Barclays Africa Group. They offer retail and business banking products and wealth management services. Personal, express, and instant loans are also offered to those who need access to quick cash. They also have home and vehicle finance, student loans, and debt consolidation products.
Capitec Bank
Capitec is known for its innovative approaches to banking in South Africa. The way they utilize remote banking, cash at tills, and ATM transacting has brought great convenience to their customers.
FNB
FNB is one of the oldest and most established banks in South Africa. After more than a decade of existing as a sole company, they became part of the FirstRand Limited group.
African Bank
The African Bank is a local favorite that specifically caters to the financial needs of South African citizens. They provide financial services to retail customers through their loan, investment, credit, and insurance products.
DirectAxis
DirectAxis is a member of the FirstRand Group which is one of the largest banking institutions in Africa. They offer lending and insurance products to retail customers in the country.
RCS
RCS is a non-bank finance business offering a wide variety of retail products like credit cards, insurance, and loans.
Bayport Financial Services
Bayport is a non-bank entity that has been established in 2004. Even though they’re quite new in the local financial scene, they rapidly grew to be one of the biggest and best personal loan providers of unsecured credit in South Africa. They offer a variety of loan and insurance products accessible to clients wherever they are in the country.
Who are the unsecured lenders in South Africa?
Capitec Bank and African Bank are the biggest players in the South African unsecured lending market.
How do I know if a loan company is legitimate in South Africa?
The process you need to follow to check a lender
- Key in the lender name and registration number.
- Click on the search bar.
- Review the records to see if the lender matches the official records.