Which Lender Easily Approves Loans?

easily approved loan
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Lenders that easily approve loans are generally short-term lenders that are able to disburse a loan during the same business day. However, the loan maximum loan amount is significantly lower than what traditional banks can offer.

The term “easy approval” can be subjective as it largely depends on your financial health. However, some online lenders have streamlined processes and relatively flexible lending criteria. Here are a few:

Mpowa Finance

Mpowa Finance

  • Loan amount: R500 - R8 000
  • Loan term: 30 - 45 days
  • Interest rate: 3% - 4.5% per month
  • Initiation Fee: R165 + VAT (up to R1 000), 10% + VAT (above R1 000)
  • Monthly Service Fee: R60


  • Loan amount: R500 - R4 000
  • Loan term: Up to 6 months
  • Monthly Interest Rate: 6%
  • Initiation fee: 13.3% - 17.2% of the loan amount
  • Monthly service fee: R13.8 - R211.6


  • Loan amount: R500 - R8 000
  • Loan term: 5 - 37 days
  • Monthly Interest Rate: 4.9%
  • Initiation fee: 10% - 16.5% of the loan amount
  • Monthly service fee: R69


  • Loan amount: R800 - R8 000
  • Loan term: 1 - 3 months
  • Monthly Interest Rate: 3%
  • Initiation fee: R172
  • Monthly service fee: R69


  • Loan amount: R100 - R8 000
  • Loan term: 2 days - 6 months
  • Monthly Interest Rate: 5.3%
  • Initiation fee: R165 + 10% of the loan amount
  • Monthly service fee: R60

What are the Criteria for Getting a Loan Easily Approved?

Approval for a loan largely depends on your credit history, income, employment status, and debt-to-income ratio. Lenders use these factors to calculate your ability to repay the loan. A robust credit score, stable income, and lower debt levels generally lead to easier loan approvals.

While these lenders may provide easier approval, they also typically offer smaller loan amounts compared to traditional banks.

What Should You Consider When Applying for a Loan?

While ease of approval is crucial, other factors need consideration:

  1. Interest Rates: Lower rates mean you pay less over time. Ensure to compare rates from different lenders.
  2. Repayment Terms: Are the monthly repayment amount and specified duration convenient for you? Remember, the faster you pay off the loan, the less you pay in loan costs.
  3. Fees: Understand all costs, including initiation and service fees, to know the total cost of the loan.

How Can You Improve Your Chances of Easy Loan Approval?

Enhancing your creditworthiness can increase the likelihood of loan approval:

  1. Improve Your Credit Score: A higher credit score increases your chances of loan approval and may secure a lower interest rate.
  2. Stable Income: Regular income assures lenders of your capacity to repay the loan.
  3. Lower Your Debt-to-Income Ratio: Reduce existing debts to improve this ratio, which can help your loan approval chances.

Understanding the Risks

Short-term online lenders offer convenience and easier approval, but they can also lead to a dangerous debt cycle if not managed responsibly. Therefore, loans should be considered as a last resort and only for necessary expenditures. Always ensure the loan suits your needs and financial situation before proceeding.

Get Pre-approved Loan Offers

*Representative example: Estimated repayments of a loan of R30 000 over 36 months at a maximum interest rate, including fees of 27.5% APR would be R1 232.82 per month. BetterLoans is an online loan broker and not a lender. Our service is free, and we work with NCR-licensed lenders in South Africa. Interest rates charged by lenders can start as low as 20% APR, including an initiation and service fee determined by the lender. The interest rate offered depends on the applicant’s credit score and other factors at the lender’s discretion. Loan amount R500 – R350 000. Repayment terms can range from 3 – 72 months. The minimum APR is 5%, and the maximum APR is 60%.

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