Skip to Content
WesBank CashPower Personal Loan South Africa: 2024 Review

How much do you need?

Tell us the details in the online application form below:

A WesBank CashPower loan offers plenty of flexibility. Learn more or apply below.

cash loans SA

✅ How Much Do You Need?


WesBank is a division of FirstRand Bank Ltd, one of the largest financial services groups in South Africa. The company has been operating in South Africa for more than 40 years. The company is mainly a vehicle and asset finance provider, but it also offers unsecured personal loans.


  • Loan Amount: R5000 to R300 000
  • Loan Terms: 2, 3, 4, 5, or 6 years per annum
  • Interest Rates: 19.25% – 29.25%
  • Loan Type: Unsecured personal loan


If you borrow R60 000 over 72 months (6 years) at an interest rate of 24.50%, the total cost of the loan will be R137,754.32. This represents a fixed Annual Percentage Rate (APR) of 32.76%. 

Total cost includes a once-off initiation fee of R1 207.50 and a monthly service fee of R69. Keep in mind that the true cost of your loan can only be confirmed after submitting a formal application.


✔️ Convenient online application

✔️ Flexible repayment terms

✔️ Hassle-free loan management

✔️ Payment arrangements accepted


❌ Short term financing is not available


WesBank is a jack-of-all-trades in the lending market. The company can be a one-stop shop for borrowers in need of personal loans, vehicle finance, specialised finance, debt cover, and more.


A simple and straightforward unsecured personal loan that offers a lot of borrowing power and long repayment terms.


  • Are looking for a long term loan (2 years minimum)
  • Want to borrow a large amount
  • Don’t mind the fact that this is essentially a personal loan from Direct Axis

Full WesBank Personal Loans Review

Weigh the advantages and disadvantages of applying with this lender and learn more about the online application process.

Wesbank CashPower Loan South Africa

Pros Explained

Easy and Hassle-Free Online Application

With this credit provider, you can enjoy a simple and straightforward application process. You can complete the application within minutes from any smart device.

The process is faster and easier because the lender can retrieve your bank statements via email directly from your bank or banking app. So, you don’t have to upload documents or handle paperwork. 

Long Repayment Terms for Affordable Instalments

Repayment terms range from 2 years to 6 years, That means you can borrow for long term financial needs or projects, such as home renovations, asset purchases, debt consolidation, and education expenses. 

You can spread out costs and stay on top of your finances with affordable monthly payments. The good news is that interest rates are fixed, so your monthly repayment will never change.

Convenient Online Loan Management

This lender offers a convenient online platform to help you manage your account. For example, you can view your balance, statement, or settlement quote from anywhere. 

Some lenders require you to visit the nearest branch or call representatives to access this information, which can be a big hassle.

Payment Arrangement Functionality To Help You Manage Your Debt

This option can provide relief if your finances are not stable at some moment, whether because of a salary reduction, maternity leave, job loss, or unforeseen expenses. 

The lender is willing to approve a payment arrangement to ensure you can settle your accounts within a reasonable period. So if you have missed a payment, there’s no need to stress. Simply contact the lender and request a payment arrangement.

Cons Explained 

Not Suitable for Short Term Needs

The minimum repayment term for a WesBank CashPower loan is 2 years. This limits borrowers’ options. 

For example, it’s probably best not to take out a 2 year loan if you need to cover an emergency expense. Hence, this loan might not be right for you if you need a small, short term loan.

How Do WesBank Loans Work?

One important thing to know is that WesBank CashPower Loans are available through Direct Axis, another division of FirstRand Bank Ltd. Here’s a quick breakdown of this lender’s financial products.

CashPower Loan

This option gives you access to an unsecured personal loan with flexible repayment terms, fixed repayments. 

It also includes a customer protection plan (loan insurance) in the event that you can’t pay for your loan due to unforeseen circumstances. Loan amounts range from R5000 up to R300 000 with loan terms from 48 to 72 months.

Vehicle Finance

A car loan from this lender gives you the opportunity to get a new set of wheels from a dealership, private seller, or auction house. 

The company has a trusted virtual dealership for used cars with options from over 100 approved dealers. You can check affordability and get pre-approved vehicle finance before committing to anything.

Other Financial Products

There’s the Credit Card Account and Credit Facility with personalised credit limits and built-in rewards. 

The company also offers insurance and cover as well as specialised finance (Islamic finance, motorcycle finance, leisure finance, etc.) Additional products include solar finance, balloon refinance, and business asset finance.

Interest and Charges

WesBank personal loan interest rates typically vary between 19.25% and 29.25% according to the rules and regulations of the National Credit Regulator (NCR). 

The rate you get depends on your personal circumstances and financial profile (monthly income, credit score etc.). Each new loan will incur a once-off initiation fee, plus a recurring monthly service fee.

Is WesBank a Safe and Trusted Option?

Yes. WesBank loans are legit. The company is run by FirstRand Bank Ltd, a registered bank and an authorised financial services and registered credit provider. The company is part of a group of well-known established brands, such as FNB and Direct Axis. 

But even when dealing with a licensed lender, it’s advisable to do your own due diligence. For example, you can read WesBank loans reviews online. Avoid scammers by only applying for a loan through official channels. Borrowers looking for online personal loans must visit wesbank co za to apply.

How to Apply for a WesBank CashPower Loan

Learn more about WesBank loan requirements and the application process regarding this lender.

What You Need to Qualify

  • Regular monthly income of at least R5000
  • Proof of income – Up to 3 month’s latest bank statements (bank generated PDFs) or payslips
  • Clear copy of your ID document
  • Proof of address
  • Borrowers married in community of property or according to customary/foreign law must have consent from their spouse

Online Application Process 

You can apply for a WesBank CashPower loan by visiting the lender’s online secure website. The first step is to enter your name, ID number, cellphone number, and email address. 

You’ll be asked about your monthly income. It’s important to be accurate, as you’ll need to provide proof of income documents to verify your financial information. 

You must also give consent so that the lender can run a credit check. The lender will also perform an affordability check and if approved, the next step is to sign a loan contract to get money in your bank account.

WesBank Personal Loans Contact Details

📌Contact number: 0861 288 272

📌Email address:

Other Loans Like WesBank

Check out similar options below:

  • DirectAxis Loans: Like DirectAxis is also a business unit of FirstRand Bank. DirectAxis administers and manages WesBank loans. That means WesBank loans are virtually identical to Direct Axis loan.
  • FNB Loans: FNB is also part of the FirstRand Group. It offers large personal loans of up to R360 000 with flexible repayment periods of up to 72 months.
  • Sanlam Loans: This lender offers personal loans of up to R300 000 with repayments of 12 months to six years.

Frequently Asked Questions

Are there WesBank loans for blacklisted people?

This lender does not offer a specific product for borrowers with bad credit. You might qualify if you meet the minimum credit requirements. However, borrowers with poor credit are likely to get higher interest rates and limited borrowing power.

Can I apply for a WesBank debt consolidation loan?

This lender does not offer a specific product for debt consolidation. However, you can use a CashPower personal loan to consolidate debt or in any way you see fit.

How can I view my WesBank CashPower loan settlement quote?

You can use the Quick Account Actions available on the secure online site to get a settlement quote. Alternatively, download the WesBank App or contact representatives via 0861 288 272.

Watch Video: WesBank Cashpower Personal Loan Review

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.