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Tsheleka cash loans are one option to consider if you need a small loan. Learn more or apply online below.
Read this in-depth Tsheleka cash loans review from RandWallet to get answers to all the important questions and make an educated decision.
✅ How Much Do You Need?
WHO IS TSHELEKA?
Tsheleka Finance is a legitimate credit provider in South Africa run as a family-owned business. The microfinance company was founded in 2000 by Eddie Meyer with a mission to provide a low-cost microloan solution to cash-strapped South Africans.
The lender has branches nationwide and has also established Tsheleka Credit, which enables businesses to promote employee well-being by offering low-interest loan solutions.
KEY FEATURES
- Loan amounts: Up to R8 000
- Loan terms: Up to 6 months
- Interest rate: 3–5% monthly interest rate
- Loan types: Short term loans; small loans
ILLUSTRATIVE EXAMPLE
If you were to borrow R1000 for 3 months at a monthly interest rate of 5%, your total interest and fees would be roughly R68 and R371, respectively. Fees include an initiation fee and monthly service fees. Your monthly instalment would be an estimated R480. So, the total repayment amount would be approx. R1 439.
PROS
✔️ Easy online application from your phone
✔️ Same-day payouts into your bank account
✔️ In-person applications available
CONS
❌ The lender only offers small loans
WHY WE LIKE IT
Tsheleka Finance is one of those innovative microlenders that are moving with the times by developing a convenient online loan facility for borrowers. This helps ensure that microloans are more accessible in the everyday life of South Africans and eliminates the inconvenience of having to step foot inside a branch.
SUMMARY
This lender offers short term credit (microloans) of up to R8 000 over 6 months. Consumers can apply online or in person at the nearest branch.
TSHELEKA LOANS ARE BEST FOR YOU IF YOU:
- Are looking for a well-established microlender with online facilities
- Need a small short-term loan
- Are struggling to get approval from traditional banks
Full Tsheleka Cash Loans Review
Get more need-to-know details about this lender before you apply.
Pros Explained
Fast and paperless online application
You can easily apply for a small loan online in 10 minutes from your phone or computer. The loan process is 100% electronic, and you don’t have to print any paperwork.
Payout on the same day of approval
After loan approval, you can receive cash in your bank account on the same day. This can be a lifesaver when you need a small loan amount urgently.
You can also visit a branch to apply
The company is not strictly an online lender. You can also visit any of its physical branches to apply for a loan in person, especially if you appreciate lending with a personal touch. You’ll get the funds via e-wallet to stay cashless, which could also be a safer option.
Cons Explained
It’s not a great option if you’re looking to make a large purchase
The lender only offers small loans. So, this may not be the right lender for you if you’re looking for a larger sum for debt consolidation or to make a large purchase. Although the company says it offers low interest rates, you’ll likely get a similar rate from other payday lenders. This makes a loan from this lender more suitable for short term financial needs.
How Do Tsheleka Cash Loans Work?
The company is essentially a payday lender offering short term loans for small amounts. These loans typically have a higher interest rate, so it’s best to use the funds for unexpected expenses and emergencies, like an urgent medical bill or a high-priority car repair.
The lender has three departments as follows:
- Tsheleka Online. This is where you apply for microloans online from start to finish. You’ll receive the money in your bank account.
- Tsheleka Finance. This option involves visiting the nearest branch to apply for short term loans in person. It’s a cashless option because the money is sent to an e-wallet.
- Tsheleka Credit. This option is specifically designed for business owners interested in outsourced payroll loans for their staff members. The company provides the funding and handles all the regulatory compliance and associated costs.
So, you can apply for a loan online OR at any of the over 13 branches across KZN and the Free State. Here’s a list of the brick-and-mortar locations:
- Tsheleka Cash Loans Empangeni. Looking for payday loans in Empangeni? Visit Shop 12, NBS Building, Cnr of Maxwell and Commercial Rd, Empangeni, 3880.
- Tsheleka Cash Loans Greytown. This microlender also has offices in Greytown at Shop 4, RA Centre, 65 Maitland St, Greytown, 3250.
- Tsheleka Cash Loans Ladysmith. You can easily apply for a small loan in Ladysmith by visiting Shop 8, Alexandra Mall, 36 Alexandra St, Ladysmith, 3370.
- Tsheleka Cash Loans Mtubatuba. Quick fast loans are not too far away if you live in Mtubatuba. The address you need to visit is Shop 2, Wycliffe Building, Cnr Jakaranda and St. Lucia St, Mtubatuba, 3935.
- Tsheleka Cash Loans Msunduzi. Wondering how to get a cash loan in Msunduzi? This lender is located at 428 Langalibalele St, Pietermaritzburg, 3201.
- Tsheleka Cash Loans Newcastle. Get a convenient short term loan in Newcastle at this location: Shop 20, 21 Kirkland St, Newcastle, 2940.
- Tsheleka Cash Loans Phoenix. Are you a resident of Phoenix? Apply for fast cash loans by visiting Target Level Shop 35-38, The Acropolis, 91 Parthenon St, Phoenix, 4068.
- Tsheleka Cash Loans Pinetown. Easy cash loans are available from this microlender when you visit 12 NBS Building, 39 Hill St, Pinetown, 3610.
- Tsheleka Cash Loans Pietermaritzburg. Discover quick easy short term loans when you visit Shop 1, Theatre Ln, Pietermaritzburg, 3201.
- Tsheleka Cash Loans Port Shepstone. Looking for a payday loan near you in Shepstone? You may find the right option at Ground Floor, 46 Aiken St, Port Shepstone, 4240.
- Tsheleka Cash Loans Qwaqwa. To apply for a loan in Qwaqwa, the address you need to visit is Office 102, Old Mutual Building, Moluang St, Phuthaditijhaba, 9869.
- Tsheleka Cash Loans Stanger. This lender also has branches in Stanger at Shop 19b, Stanger Market Plaza, Cato St, Stanger, 4449.
- Tsheleka Cash Loans Tongaat. You can kickstart your loan application in Tongaat by visiting Shop 5/6, Ashanti Centre, Arbee Dr, Tongaat, 4399.
Is Tsheleka a Safe and Trusted Option?
Tsheleka Finance and Credit are registered credit providers in South Africa. So, this lender is likely a safer option than unregistered lenders charging extremely high interest rates of up to 50%.
Please note that Tsheleka ONLINE does not have agents or brokers on the Internet. Do not make a payment or give your personal documents to fake agents who promise to apply for a loan on your behalf. As always, you should do your due diligence to avoid scams.
Be sure to check out the online reviews, if available, to get a better perspective on this lender.
How to Apply for a Tsheleka Loan
Check if you qualify and complete the three-step online application process.
What You Need to Qualify
- A smartphone or a computer
- A valid South African ID
- Your latest 3 months’ bank statement
- Your latest payslip
Online Application Process
» Step 1: Application – Fill in the application form with the required details. You’ll need to confirm your banking details and upload and attach documents to support your loan application.
» Step 2: Review Process – The lender will review the application and paperwork and carry out the necessary credit and affordability checks. If the loan amount you requested is approved, you’ll receive a quotation, which you can accept or decline.
» Step 3: Payout – If you accept the quote, the lender will process the funds, usually on the same day.
You can also apply for a quick and easy loan with RandWallet. Complete the online loan application form within minutes and start getting offers from multiple lenders immediately. Compare loan offers and choose the best lender for your needs. You’ll receive cash in your bank account once you finalise the deal and sign your loan contract.
Tsheleka Cash Loans Contact Details
📌Contact number: 033 503 1393 / 072 722 5486 / 082 621 9388
📌Email address: info@tsheleka.co.za / applications@tsheleka.co.za
📌Physical address: Head office – 400 Old Howick Road, Hilton, KZN, 3245
Other Loans Like Tsheleka
Explore your options by considering similar providers.
- BFS Loans – If you are an existing customer, you can apply for BFS loans via your phone. Otherwise, you can apply at the nearest branch, countrywide.
- Letsatsi Loans – Get up to R7 000 for 1–6 months. Online and branch applications are both available.
- Supreme Finance Loans – Apply for a loan online or at a branch (R500 to R20 000).
Frequently Asked Questions
The first loan you apply for will have an interest rate of 5% per month. After that, any top-up loans or a second loan will have a lower rate of 3% per month.
The money is often processed on the same day of approval. Once you accept the DebiCheck, expect the funds to reflect in your bank account after 5 hours.
You cannot qualify for a loan if you’re under debt review. However, you might qualify if your credit is not so bad.
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.