RCS loans can be your go-to option if you’re looking for extra cash to cover education costs, car repairs, fund a big project, or meet other financial needs. 

Here, you’ll find all the essential details about this lender. Our RCS loans review will help you compare this lender with other lenders to determine if the company is right for you.

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WHO IS RCS?

The RCS Group is a credit and financial services provider. The financial institution offers consumers various products, including loans, store cards, credit cards, and insurance. 

The company is owned by BNP Paribas Personal Finance, whose parent organization is the BNP Paribas Group, a European and international banking establishment headquartered in Paris, France. 

KEY FEATURES

• Cash loans from R2 000 up to R250 000
• Repayment options from 12 to 60 months (personal loans)
• Interest rate starting from 15%
• Customer Protection Insurance

ILLUSTRATIVE EXAMPLE

If you get an RCS loan of R10,000 at an interest rate of 29.25% over 24 months, you’ll have to pay an initiation fee of R1,207 and a monthly service fee of R69. Your monthly instalment would be R720. Overall, you would have to pay back a total amount of R17 269,60.

PROS

✔️Wide range of loans and services

✔️Flexible payment periods and amounts

✔️Easy online application process

✔️Get funds quickly

CONS

❌Personal loans under R2000 are not available

WHY WE LIKE IT

The lender offers a wide range of flexible products and services, including credit cards, personal loans, and insurance. There’s a high chance you’ll find a loan that suits your needs.

SUMMARY

The loan company offers innovative credit and insurance solutions, mainly personal loans ranging from R2000 to R250 000, and repayment terms of one year to five years.

RCS LOANS ARE BEST FOR YOU IF YOU:

• Need a larger loan.
• Need a long time to repay the money.
• Want credit to shop online.

Full RCS Personal Loans Review

Knowing more about this lender allows you to compare your options effectively, increasing your chances of making the right decision.

Pros Explained

Large loan amounts

Loan amounts range from R2000 up to R250 000. The maximum amount can cover many popular uses, such as debt consolidation, home improvements, a holiday, or any large purchase.

Long repayment periods

This lender offers flexible repayment options of 12 to 60 months for personal loans. However, it’s good to remember that the longer your repayment period, the more interest you have to pay. So, it’s best to choose an optimal term that suits your budget to reduce the total cost of the loan.

Online convenience

The loan company offers a simple and easy online application. You don’t have to visit a branch or stand in a queue since you can upload your documents online. In addition, RCS cards enable you to shop online (buy now, pay later).

Fast processing

The lender promises to provide a quick response during the early stages of the application process. Once you complete your application and upload the required documents, the funds will be deposited in your bank account within 24 hours.

Cons Explained 

Smaller personal loans are unavailable

RCS is better than most lenders in that the minimum loan amount is R2000. Other South African lenders offer loans starting from R5000. Still, some borrowers might be disappointed that they can’t apply for a smaller loan. 

Smaller loans are suitable for emergencies and short-term cash-flow gaps. Having access to smaller loans starting from R100 also ensures you don’t end up borrowing more than you need.

How Do RCS Loans Work?

You have three options to choose from:

• Store Card: This store card lets you shop on credit at over 30 000 stores. Loan amounts range from R1,000 to R50,000, depending on your individual circumstances. You can purchase from popular brands such as Pick N Pay, Edgars, Makro, Checkers, Clicks, Shoprite, and wherever the RCS logo is displayed. This option comes with budget repayment plans for purchases of R600 or more.
• Credit Card: You can use this credit card wherever the Mastercard is accepted (the card is internationally recognized). You can also withdraw cash from the ATM with your card. Revolving budget repayment options for 6, 12, 18, 24, and 36 months are available for purchases above a certain amount. You can also enjoy 55 days of interest-free credit after shopping online. 
• Personal Loans: The RCS cash loan ranges from R2000 – R250 000 over 12 to 60 months, with a fixed interest rate as low as 15% based on your credit profile.

Is RCS a Safe and Trusted Option?

It’s always a good idea to check RCS loan reviews to see what other customers say about this lender. For a good start, this lender is a registered credit and financial services provider. This means the company is under obligation to provide credit responsibly and act in the best interests of borrowers.

How Do I Apply for an RCS Loan?

The loan application process is simple and straightforward:

Apply for an RCS Store Card

Step 1: Begin your application online on the lender’s website by clicking ‘Apply Now.’ You can also apply for a store card at selected retailers, like Game or Makro country-wide. Complete a simple form, and you should get a response within seconds.

Step 2: If provisionally approved, you must complete the application process and provide your proof of income documents.

Step 3: The last step is collecting your card. Go to the nearest Makro/Game shop, or store where you applied. Present your South African ID to get your card and start shopping.

Apply for an RCS Credit Card

Step 1: Click ‘Apply Now.’ Answer a few questions and complete the form provided. You should get a response in seconds and be able to move on to the next step after the initial approval.

Step 2: Complete the application form and submit payslips or bank statements as proof of income.

Step 3: Wait for your card to be delivered by courier. Once it arrives, contact the company to activate the card and set your PIN. You’ll then be able to start shopping using the card.

Apply for an RCS Personal Loan

Step 1: Start your application process online by answering a few questions to get provisional approval.

Step 2: If you’re initially approved, complete the application process and upload your proof of income documents.

Step 3: Once your application is approved, the lender should deposit the money in your bank account within 24 hours.

What You Need to Qualify

Here are the RCS loans requirements in South Africa:

• Be 18 years and older
• Have a South African ID or driving licence
• Have a South African bank account
• Be employed and earn R2,000 or more per month for personal loans. You only need to earn at least R1,000 monthly to qualify for a card.
• Provide proof of income documentation (latest payslips or bank statements)

RCS Contact Details

📌Telephone: 0861 729 727

📌Email address: loanscustomerservice@rcsgroup.co.za

📌Address: HEAD OFFICE: Golf Park 6, Raapenberg Road Mowbray, 7700, South Africa

GOODWOOD OFFICE: Liberty Grande Building, Voortrekker Rd & Jakes Gerwel Dr, Cape Town, 7460, South Africa

POSTAL ADDRESS: PO Box 111, Goodwood, 7459

Other Loans Like RCS

You have several options if you’re looking for similar options:

• Sanlam Loans. You can also apply for a Sanlam loan online. Offers range from R5,000 to R300,000 over 12 months to 6 years.
• Direct Axis Loans. Direct Axis is a similar option in that you may be eligible for large loan amounts of up to R300 000. In addition, you can apply for Direct Axis personal loans via an online form.
• FASTA. FASTA also offers credit to online shoppers via the FASTA Card and FASTA Checkout option.

Frequently Asked Questions

Watch: RCS Personal Loans Explained

Our Research Expert

Gracie Makowe

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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.