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Frequently asked questions
Everything you need to know before you apply. Can't find your answer? Get in touch.
Our panel of lenders offers personal loans from R5,000 up to R150,000, with repayment terms between 12 and 60 months, depending on your affordability.
No. There are no upfront fees. You only pay once your application has been processed and funds have been paid into your account. We'll confirm your details via Debicheck before proceeding.
You need to be between 18 and 65 years old, a permanent South African resident, permanently employed with your salary paid into your bank account, and able to provide a recent payslip, proof of address (under 3 months old), and your last 3 months' bank statements.
Your rate depends on the loan amount, the term you choose, and your personal credit profile, up to a maximum APR of 32% per annum. Representative example: loan amount R100,000, APR 28%, monthly service fee R68.40, monthly repayment R4,558.
Most applications are matched against our lender panel within one to two business days, though timing can vary depending on how quickly supporting documents are provided.
No. MegaFin is a brokerage, not a lender. We submit your application to a panel of NCR-registered lenders and help match you with an offer suited to your profile.
It's still worth applying. Each lender on our panel assesses affordability and credit history differently, so a lower score with one lender doesn't rule out approval with another.
Yes. Your details are only shared with lenders on our panel for the purpose of assessing your application, in line with our Privacy Policy and the Protection of Personal Information Act (POPIA).
Your lender will try to contact you to resolve the issue. If it can't be resolved, the matter may be handed to collections, which can increase fees and interest and harm your credit score — so it's best to notify your lender immediately if you expect to miss a payment.