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BFS Loans South Africa: 2024 Review

BFS Loans South Africa: 2024 Review

Arcadia Finance RandWallet


Do you need extra cash for a short while? Barko Financial Services loans are one option to consider in South Africa. You can apply for BFS loans and unlock more borrowing power as a returning customer. Read our full BFS loans review below to decide if Barko Finance is the right lender for you. 


Barko Finance is a micro-finance institution in South Africa, established in 1996. There are numerous BFS branches in nearly all South African provinces where borrowers can apply. 

In addition to quick loans, BFS also offers funeral cover. Barko Loans has expanded rapidly in past years with innovative and ethical credit solutions for qualifying South Africans from low-income households. Barko Financial Services’s headquarters is in Gauteng, Pretoria.


  • Loan amounts of up to R8000
  • Get a personal loan for 30 days
  • Apply at the nearest BFS branch
  • Existing clients can apply via cellphone


✔️ Quick and easy application process

✔️ Fast approval

✔️ Blacklisted clients can apply


❌ Limited options


Barko Financial Services Loans offer efficient and affordable access to cash for all your short-term needs. Barko Finance differentiates itself from other lenders by offering small loans to its target market of formally employed, hard-working South Africans with low incomes.


You can apply for Barko Financial Services loan(s) at any BFS branch, countrywide. Barko Finance offers 30-day loans of up to R8000, payable in one instalment.


  • Are formally employed (e.g. government employees, mining industry employees and private sector employees)
  • Have a modest income
  • Are blacklisted or if your credit score is not 100% perfect
Arcadia Finance RandWallet


Full BFS Personal Loans Review

Learn more about BFS cash loans to make an informed decision.

Pros Explained

Convenient in-person application. Finding the nearest BFS branch near you is hassle-free since you can use the branch locator on the lender’s website. Existing clients can also apply remotely as BFS has a digital banking platform that can originate loans via cell phone.

Fast funding. Once you qualify for a BFS loan, you can quickly get the cash you need. It only takes a few minutes to be approved for a Barko Finance loan since there are no technical issues to consider. On average, it can take 15 minutes to onboard and originate loans for new clients and as little as 4 minutes for existing clients. 

Flexible requirements. BFS has flexible requirements compared to other lenders. For example, you can apply for BFS loans for blacklisted borrowers if your credit history is not 100% clean. You can also apply for a BFS loan as a foreigner, as long as you have a valid passport. Lastly, Barko Finance assists clients who get paid on a weekly or fortnight basis.

Cons Explained

Limited options. BFS does not have a lot of options for borrowers. For example, the lender only offers 30-day loans, and there are no BFS long term loans. In addition, new clients can only borrow up to R3000. What’s more, in most cases, you have to visit a branch to apply. However, Barko Loans does offer remote loans for existing clients.

How Do Barko Loans Work?

Barko Finance offers quick loans that must be repaid in full in one repayment in 30 days. New customers qualify for up to R3000 while existing clients can get a maximum of R8000. Barko Loans are therefore designed to help you cope with end of month expenses with a quick cash flow injection. There are currently no BFS long term loans.

The BFS Loans interest rates are not disclosed on the website, so it’s important to read the terms of your contract carefully before applying. However, you should note that, like most microlenders, BFS Loans will likely charge higher interest rates than banks.

Existing clients can apply for BFS cash loans without visiting a branch. The lender can originate loans for customers remotely via mobile. 

Is Barko Finance a Safe and Trusted Option?

Barko Financial Services is an authorised financial services provider and a registered credit provider with an established track record. The company is transparent about its regulatory compliance. 

In addition, unlike strictly online lenders, the company has physical branches you can visit, so you know you’re dealing with real people. However, you should be aware of ongoing online scams perpetrated by people falsely claiming to represent Barko Financial Services on Facebook and WhatsApp. 

Your best option is to visit the lender’s website directly at and use the branch locator to find the nearest BFS branch. You can also contact the Customer Care team on 080 777 3777 to verify that you’re speaking to a legitimate Barko Financial Services employee. 

You should always be aware that registered credit providers like Barko Financial Services will never ask you to pay money before approving your loan. Barko Loans will also never ask you to reveal your bank card details and security code (CVV). Lastly, be sure to check Barko Loans reviews to get a trustworthy idea of whether applying with this lender is the right move.

How to Apply for a BFS Loan

Please note that you can’t submit a BFS Loans online application as a new client. Instead, visit a branch near you to see if you qualify for a loan application.

BFS Loans Requirements

  • Must be formally employed
  • South African ID number or valid passport
  • Recent bank statements for the last 3 months
  • Most recent proof of income – payslips
  • Bank card

Barko Loans Application Process 

To apply for Barko Loans, the first step is to visit the lender’s website and use a branch locator to find the nearest BFS branch. For example, if you’re looking for BFS Loans Johannesburg or BFS Loans Pretoria, you’ll be shown the most convenient physical address you can visit. 

When visiting a BFS branch, you need to bring your three-month bank statement, your latest payslip from your employer, and a valid ID book or passport. You also need to bring your bank card, which is connected to the bank account where you receive your salary. 

This is used to verify your information, and you’ll be asked to swipe your card so that BFS can load a successful debit. If you want to apply online, simply contact BFS using the details below, and you’ll get instructions on which steps to take.

BFS Loans Contact Details

📌BFS Loans Contact Number: Toll-Free: 080-777-3777 / HQ Office: 087-980-5002

📌WhatsApp Number: WhatsApp ‘Hi’ to 078 298 9139

📌Physical Address: Head Office: Barko Financial Services (Pty) Ltd. Menlyn Woods Office Park, Block B-GF, 291 Sprite Avenue, Faerie Glen, Pretoria 0081

📌E-mail Address: /

Other Loans Like BFS Loans

Here are some top options if you’re looking for loans like Barko Financial Services loans:

  • Lime Loans. Lime24 is a strictly online lender that offers loans from R500 to R8,000 with a maximum repayment period of 37 days.
  • Letsatsi Loans. Letsatsi Finance and Loan could be a better option for you because not only does the lender allow online applications via its website, but you can also apply at a branch near you. Letsatsi loans offer loans from R500 to R7000 with repayment terms of up to 6 months.
  • Tsheleka Cash Loans. Tsheleka Finance is another microlender that lets you apply for finance on your phone or in-store at the nearest Tsheleka Finance branch. Tsheleka cash loans offer up to R8000 over 3 months.


How does BFS loans work?

Barko Financial Services offers personal 30-day loans, which must be repaid in one instalment. If you’re a new client, you can apply for R3000, while existing clients can qualify for up to R8000.

How to apply for BFS loans on a cellphone?

SMS “Query” to 43991, and a representative will contact you.

Can I apply for BFS cash loans online?

Existing clients can apply for a BFS cash loan via mobile. Currently, new clients don’t have access to online BFS loans. Apply online with RandWallet if you’re looking for a quick and convenient loan application that unlocks multiple loan offers in seconds.

What are the BFS Loans working hours?

Barko Loans business hours are from 07:30 AM to 5 PM, Monday to Friday. On Saturday and Sunday, Barko Loans opens at 07:30 AM and closes at 1 PM. You can contact BFS during business hours at the toll-free line: 080 777 3777.

Watch Video: Barko Quick Loans | Get Up To R8,000 Fast And Easy

Our Research Expert

Gracie Makowe is a full-time personal finance writer with 10 years of experience and a Bachelor of Commerce in Financial Management from UNISA. Learn more.