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Apply for a R10 000 Loan Online

Apply for a R10 000 Loan Online

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✔ Many personal loan lenders offer R10 000 loans in South Africa.

✔ Getting a R10,000 personal loan is easy when you apply online with RandWallet.

✔ You could receive multiple loan offers within seconds after applying.

✔ Learn how to get a R10,000 loan and improve your chances of approval before committing.

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✅ Do You Need a R10 000 Loan?

Where to Find Personal Loans for R10,000

If you need a personal loan for R10000 there are several options available. The best option is to apply with an online lender since it’s faster and more convenient. Here’s a short list of top online lenders that offer R10000 cash loans in South Africa.

  • Sanlam Loans: Sanlam is a top, established online lender offering personal loans for R10 000 and beyond with 1–6 years to pay. You can apply online via the website or by phone.
  • Direct Axis Loans: You can get a Direct Axis loan of up to R300 000 from 24 months up to 6 years. Apply via the online form or contact Direct Axis directly.
  • RCS Loans: Fill in the RCS personal loan application form to apply for a R10 000 loan. Repayment terms range from 12 to 60 months.
  • Capfin Loan: You can apply for a Capfin loan of up to R50 000 over 12–24 months. The loan application is quick and easy.
  • African Bank Loan: An African Bank loan offers R2000 to R350 000 with fixed repayments over 7 to 72 months. You can apply online in 5 easy steps and qualify for some of the lowest rates available.

Alternatively, apply via a loan marketplace where you can easily shop for and find the best available R10 000 loan in South Africa. Examples include MyLoan, Fincheck, Arcadia Finance, and Qwiekfin

What Can I Use a R10 000 Loan For?

A R10 000 personal loan could give you the extra cash you need to pay for various expenses. The biggest advantage of getting such a lump sum is that you can cover necessary expenses sooner instead of waiting to save. 

Essentially, you’re spreading out the cost of these expenses by paying the lender back in instalments. With this loan amount, you can fund the following:

  • House-related expenses. The list includes renovating your house, buying appliances, building a new extension, and paying for home repairs.
  • Car expenses. R10 000 could help buy a new or used car. It can also cover car repairs and other vehicle expenses.
  • Special events. Whether you want to fund your wedding, throw a graduation party, or facilitate a traditional ceremony, a R10000 loan helps ensure that things go smoothly.
  • Education. Investing in your or someone else’s future can be a worthwhile goal. A R1000 personal loan can cover various education expenses, such as tuition, books, accommodation, transportation, and a laptop.
  • Personal consumption. Loans up to R10000 help improve your cash flow so you can do the things you want to do, including buying airtime, fixing a broken cellphone, buying a new gadget, and paying for groceries.
  • Medical emergency or bills. Medical costs are often non-negotiable and unavoidable, and a R10000 loan may be the lifesaver you need.
  • Funerals. A R10 000 loan can be a small consolation during such an emotionally tough time. Being able to cover funeral expenses, such as the casket, transportation, burial costs, a memorial package, funeral home costs, and catering may help make things less stressful.
  • Debt consolidation. Borrowing 10 000 rand can help you consolidate many smaller debts so that you’re only left with one debt and one monthly repayment. It’s best to use a low interest loan for debt consolidation to avoid high borrowing costs.

How To Get a R10,000 Loan With Bad Credit

How to get a R10 000 loan with bad credit

If you have a low credit score you may be looking for options for easy R10 000 loans. A low credit score likely means missed or late payments in your credit history. This can make it difficult to get a loan for R10 000. 

The good news is that it’s possible to qualify for R10 000 loans. Specialist lenders in South Africa offer loans for bad credit, depending on how low your credit score is. The catch is that you must pass the affordability check. 

In addition, you’ll probably get a personalised rate higher than what a good credit borrower would get. Some lenders may approve bad credit applications but limit how much you can borrow. There are several things you can do to boost your chances of getting a better deal.

  • Get a secured loan. Secured loans require you to offer a valuable asset, like your car or home, as security. This lowers the lender’s risk and even enables you to borrow larger sums. Remember, there’s always the risk you could lose your asset if you default.
  • Improve your credit score. You can easily subscribe to a free credit monitoring service. If you don’t need the money urgently, you can improve your score before you apply for a loan. Boost your credit score by paying down debts, paying bills on time, and disputing credit report errors.
  • Avoid too many loan applications in a short time. When you apply for multiple loans in a short period, each application triggers a hard credit check that temporarily lowers your credit score. Lenders that view your credit history might also think you’re desperate for money, which makes you a risky borrower.
  • Shop around for the right lender.  Look for alternative lenders with flexible credit score requirements. These lenders don’t just consider your credit score alone, they also look at your income and expenses to see what you can afford. Also check with your bank. If you have an existing relationship, your bank might be willing to overlook a bad credit score.

What is the Monthly Payment for the R10 000 Loan?

How much will a R10 000 loan cost? A R10 000 loan repayment depends on the interest rate you get, fees, and the length you choose. Interest on a R10 000 loan tends to be lower for good credit borrowers. 

Most personal loan lenders offer personalised interest rates based on your financial situation and credit profile. Usually, a longer loan term gets you smaller monthly repayments, but you’ll likely pay more interest overall. Here’s a quick comparison from various South African lenders so that you can get a better idea of how much your loan will cost you.

Compare R10 000 Personal Loans

Short Term Loan Medium Term LoanLong Term Loan
Repayment period6 months12 months24 months
Annual Interest rate18.25%Undisclosed29.25%
FeesInterest, fees and premiums: R2 713.28Interest and fees, plus credit life insurance: R4 214.59Once of initiation fee of R1 207.00 + monthly service fee of R69
Monthly repaymentR2 118.88R 1 184.55R720.00 
Total repayment amountR12 713.28R14 214.59R17 269.60

Requirements to Qualify for R10 000 Personal Loans

You’ll generally need the following to qualify for online loans up to R10 000:

  • Be a South African citizen with a valid ID
  • Be formally employed with a regular monthly income
  • Proof of income documents, usually payslips and bank statements for the last 3 months
  • Be 18 years or older

3 Steps to Get a R10 000 Personal Loan

RandWallet connects you with partners that offer online R10 000 loans for all credit types. You can apply for a loan online within minutes and receive personalised loan offers from our lender partners. Here’s how to get started:

» Step 1: Click ‘Apply’ and fill in the loan comparison form with the required details. The loan application form will ask for your details, such as your name, address, South African ID number, phone number, and email. You also need to provide your financial and employment details. Once you complete your online application, you could receive loan offers soon after from up to 11 different banks and lenders.

» Step 2: Compare the loan offers you receive to find the best option for you. When comparing personal loan lenders that offer R10,000 loans, consider the interest rates and fees and choose the most affordable offer. Consider how much time you need to pay the debt back, and choose a term that offers the most comfortable monthly repayments.

» Step 3: Once you accept a loan offer, you’ll need to finalise your application. This typically involves providing the required paperwork and reviewing and signing the loan contract. The lender then releases the funds into your bank account.

Consider Other Loan Amounts

R500 Loan 

R1 000 Loan

R2 000 Loan

R3 000 Loan

R4 000 Loan

R5 000 Loan

R8 000 Loan


How to get a loan for R10 000? 

If you need a loan of R10 000, you can apply online today. The application process depends on the lender, but you need proof of income, such as 3 months’ payslips or bank statements. 

Compare multiple lenders and apply with the right lender by filling in the online application form. Accept your quote if it’s favourable, and sign your loan contract to receive money in your bank account.

Can I get a R10 000 loan for blacklisted people?

The first thing is to check your credit score to determine how bad your credit score really is. If your credit score is not so bad, it’s possible to qualify for a R10 000 loan, though you may get a higher interest rate. 

You can apply to lenders who specialise in giving loans to people with bad credit. If you can afford to wait, it’s often better to work on improving your credit score, so that you can get better loan deals.

I need a loan of 10 000 urgently. Where do I get started?

Where to find a R10,000 loan? Online lenders are usually the best option. You could apply within minutes and receive funds after several business days, once approved. An advantage of online lenders is they tend to have less strict eligibility requirements, which could fast-track the approval process.

How much will I pay back on a R10000 loan?

How much you pay back on a R10 000 loan depends on the repayment period, interest rate, and fees. Your best bet is to choose a loan with the lowest interest rate and fees. 

You can also minimise the long term costs of your debts by choosing the shortest repayment term with the biggest monthly payment you can comfortably afford. 

Can I get a R10,000 loan without a credit check?

No, when you apply with a registered credit provider, they must carry out a credit check to ensure responsible lending. However, you could still qualify with bad credit if you pass the affordability check.

What is the minimum credit score for a R10K personal loan?

Minimum credit score requirements for R10K loans vary from personal lender to personal lender. Credit score ranges in South Africa generally look like this:

  • Under 300 – No credit
  • Poor credit – 300-579
  • Average credit – 580-669
  • Good credit – 670-739
  • Very good credit – 740-799
  • Excellent credit – 800-850

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.