Terms of Use

Short-term Loans

We don’t want you to get caught in the debt trap. PayDay Loans offers you short-term, unsecured loans for up to a month. This means, you’ll have to repay your loan on a date of your choosing 5 to 35 days after getting the cash.

We don’t offer increases on existing balances because this will just trap you in a nightmarish debt spiral. The earlier you can pay off your loan, the less interest you pay, the sooner you get out of debt! So, it really pays to repay your loan ASAP!

Just as you can trust PayDay Loans to be a responsible lender, we hope we too can trust you to be a responsible borrower by paying back the loan on the date you promise to. That’s why we urge you to consider your financial situation very carefully before taking out a loan.


It’s important to take your living costs into account and to budget for your repayments. Your cash flow will be tighter during the next month– you need to be realistic about this.  If in doubt, don’t apply.

Repaying your loan on time means you won’t have to worry about interest piling up high. Our annual interest rate is 60%. That said, just remember you have to repay PayDay Loans within 5 – 35 days.

Costs include 14% VAT and a monthly service fee of R57, enabling us to use cutting-edge technology allowing for super-fast approvals and deposits. You don’t need to worry about hidden or extra costs cropping up.

At PayDay Loans, we lay all fees out on the table from the get-go, so you can crunch the numbers to see if taking out a loan is within your means, before you make any promises.

Failure to Repay

PayDay Loans has an automatic collection system for effortless repayment. This means we collect the owed amount from your bank account on the agreed date. Hence, you will need to make certain that you have sufficient funds in your account when the time comes.

If our collection attempt is declined by your bank due to insufficient funds, we will be in contact until the situation is resolved. Just remember, your bank may charge you for this. Meanwhile, interest and service fees will continue to rack up for up to 90 days.

If we are unable to contact you or to collect the money from you after a reasonable number of attempts, we will have to hand the matter over to a professional collections firm.

We really don’t want it to come to this, so please instead phone us at once, if your circumstances suddenly change and you feel you won’t be able to afford your repayments. Only then will we be able to put our heads together and figure out a more realistic, manageable arrangement.

Your Credit Score

Bear in mind, failing to repay the loan will be recorded by the credit bureaus for years on end, whether you eventually settle or default. This will in turn damage your credit score and creditworthiness. You can then expect to endure a whole lot of rejection from credit providers, wherever you apply for credit.

Finally, you won’t be able to borrow from PayDay Loans again, which makes us very sad. So, please, if you have any doubts whatsoever, don’t put yourself through the ordeal of falling into debt! No amount of money is worth the trouble. Borrow responsibly!