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Wonga Loans: 2024 Review | Apply Online

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Whether you need a short-term loan to cover an urgent bill or help you survive until your next paycheck, Wonga loans can be the fast solution you need.

The application process is relatively simple, and everything happens 100% online. Check out our complete Wonga loans review to understand how this lender works and if you should apply.

✅ How Much Do You Need?


This is an online lender of short-term loans. The company has one of the fastest application and approval processes. Wonga is slang for cash or money in the UK/London. The company itself has headquarters in the UK.


  • Short-term loans (3-6 months)
  • Loan amounts of up to R4000 for new customers and R8000 for existing customers
  • Maximum monthly interest rate of 5%
  • Additional fees include the initiation fee, service fees, and insurance


✔️ Simple, online application process

✔️ Flexible short-term loans

✔️ Early repayment is allowed

✔️ Fast application and approval


❌ High initiation and service fees

❌ Limited loan amounts

❌ Limited repayment periods


The lender uses innovative technology to simplify and speed up the borrowing process. That means you can apply for a Wonga loan online and enjoy the convenience of getting money in your bank within minutes when you really need it. The credit provider is also a responsible lender, so they will only give you credit you can afford after verifying your income.


This is one of the most popular lenders that offer flexible short-term loans online. Loan amounts range from R500 to R4000, payable over 4 days to 3 months. Existing customers can get up to R8000, payable over 6 months.


  • Want to borrow a smaller amount
  • Want the money as soon as possible
  • Have sufficient income that the lender can verify

Full Wonga Personal Loans Review

Learn more about how this lender works in detail.

Wonga Loans South Africa

Pros Explained 

The application process is simple and easy

Wonga is different from other online lenders because the application process is fully online, with zero paperwork and no need to visit a branch. As such, the company makes it highly convenient to borrow money in a tight spot.

Apply for short-term loans to suit your urgent needs

Wonga payday loans are flexible because you can choose how much cash you want and how many days you need to pay it back. The loans are designed to give you control when you need emergency cash for whatever reason.

You can save interest with early repayment

It’s possible to pay off your loan early if your budget allows. That means you can save on interest charges. However, the company does not make it clear whether it charges early repayment fees.

Get the money you need fast

This loan company differentiates itself from other internet lenders by ensuring a quick application process and promising a fast decision in minutes. In addition, you get cash paid directly into your account, allowing you to enjoy the convenience of Wonga same day loans.

Cons Explained 

Your loan can end up being expensive due to fees

For example, if you borrow R2000 over 30 days, you’ll be charged an initiation fee of R304.75, a monthly service fee of R69, and a loan insurance cost of R10.88. 

The interest rate, which is R113.66, brings the total cost to R498.29, meaning you would have to pay back R2498.29. This translates to an APR of almost 25%, which is quite high. The good news is that this lender is transparent, so you will always know the true cost of your loan before applying.

Your borrowing power is limited

The loans are suitable for people who need to borrow lower amounts, typically ranging from R500 to R4000, up to R8000 if you’re an existing customer. 

This type of loan doesn’t work if you need money for larger purchases or payments like a wedding, holiday trip, or home renovation. Wonga cash loans are also not suitable for debt consolidation.

No long-term loans are available

The loans are designed for people who need emergency cash, so you need to repay the money sooner. Generally, personal loans have repayment periods of up to seven years, but in this case, you need to pay back the money within three months or six months. The lender does not offer long term personal loans.

How Does Wonga Work?

Wonga is an internet or online lender (not a bank) co-founded by Errol Damelin and Jonty Hurwitz in October 2006. The company specializes in short term credit, essentially payday loans, and says they’re the first in the world to automate the lending process fully. 

The company uses advanced technology to assess applications quickly and fairly, thus making things easier and more convenient for borrowers. The requirements are straightforward compared to some banks, which require a lot of documents and waiting times and involve complicated processes.

Wonga is a responsible lender that’s only interested in giving loans to people who can afford them. As such, the lender verifies your income to determine if you qualify for the loan amount you want. 

This is for your own good because it ensures you don’t worsen your financial situation by borrowing more than you can afford. Instead, you can improve your credit score with timely, affordable payments. 

Is Wonga a Safe and Trusted Option?

Wonga Online (Pty) Ltd is a registered financial services provider regulated by the National Credit Regulator. The company is a responsible lender that performs credit checks on applicants and ensures everyone meets the lending and affordability criteria in line with legal requirements.

How to Apply for a Wonga Loan

What You Need to Qualify

  • A cellphone number
  • SA ID number
  • Bank account details
  • Most recent proof of income (payslip or bank statement)

Online Application Process

Step 1: Choose the amount and how long you need. Visit the lender’s homepage and move the sliders to select the loan amount and term. How much you qualify for depends on your trust rating and whether you’re a new or existing customer. Once you find the right balance, click “Apply Now.”

Step 2: Complete the application form. Fill in the online loan application form with the required details, including the following:

  • Name
  • ID
  • Email address
  • Employment details
  • Monthly income and expenses
  • Bank account information

Step 3: Wait for income verification. Once you complete the loan application form, you’ll get a response immediately. If the application is approved, the next step is for the lender to verify your income. You’ll need to submit your latest payslip or bank statement.

Step 4: Receive money in your bank account. After the lender verifies your income, the money is transferred to your bank. The next stage is for you to repay the loan, so make sure there are enough funds in your account on or before the due date.

Wonga Contact Details

📌 Telephone/Call: 0861 966 421 

📌 Email: 

📌 Address: 1st floor, 14 Kloof Street, Gardens, Cape Town, 8001, South Africa.

Other Loans Like Wonga

There are several alternatives you can compare.

  • Lime Loans – Lime24 also provides flexible, short term online loans ranging from R300 to R5400 with fast application processing.
  • FASTA Loans – FASTA offers 100% online loans that are easy, fast, and convenient. Get up to R8000 cash in your bank account, payable in up to 3 monthly instalments.
  • Boodle Loans – With Boodle, you can get R8000 payable in up to 6 months. The application process is all online, and you can get a Boodle loan within 10 minutes.

Frequently Asked Questions

What types of loans does Wonga offer?

The lender advertises short-term loans, personal loans, quick loans, and instant cash loans, but these are essentially the same financial products. 

Wonga is best described as an internet payday loan company that offers loans of up to R4000 with up to 3 months to repay for new customers. Existing customers can get credit of up to R8000 with 6 months to repay.

How many Wonga loans can I have?

You cannot get two Wonga loans at the same time, and there’s no Wonga top-up loan. Therefore, you’ll first need to repay your existing loan before applying for a new loan.

Does Wonga pay immediately?

The company says they can make a lending decision in minutes and transfer cash into your bank account within minutes of you applying.

How long does Wonga take to approve?

Wonga can approve your application in seconds. After that, they’ll verify your income, and it’s possible to receive the money in your bank account within minutes of applying.

Are there Wonga personal loans for the blacklisted?

Wonga is a responsible lender. If you’re blacklisted, you may still be able to qualify for the loan. The most important thing is that you can afford to pay it back, which is why the lender performs a credit check and verifies your income.

Watch: Wonga Flexible Loans

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.