Questions, answered

It depends on the loan option you choose and your affordability. Cash Advances range from R1,000 to R8,000 and are repayable over 1 to 3 months. Short-Term Loans range from R8,001 to R50,000 and can be repaid over 6 to 12 months. Long-Term Loans range from R50,001 to R250,000 and are repayable over 12 to 24 months. The amount and repayment term you qualify for will depend on a responsible affordability assessment.

No. There are no upfront fees. Every cost is disclosed in your pre-agreement before you accept the offer, and all fees are regulated by the National Credit Regulator.

To apply, you'll need to be 18 or older and have a valid South African ID, proof of residence dated within the last 3 months, your latest 3 months' payslips, and your latest 3 months' bank statements. You'll also need to provide a selfie for ID verification.

Yes. You'll need to provide 3 months' recent bank statements that clearly show your source of income. We may ask for additional supporting documents during the assessment.

No. As a responsible, NCR-registered credit provider we cannot grant credit to anyone who is currently under debt review.

Yes. As a responsible, NCR-registered credit provider we run credit and affordability assessments on every application, to make sure the loan is suitable and affordable for you.

Once we have received all the required documents, your application is reviewed and, if approved, you can expect a decision within 48 hours.

Yes. DebiCheck authorisation is required before your loan can be approved and paid out. It protects both you and us by making sure your debit order is securely authorised.

Yes, you can settle your loan at any time. You'll pay the unpaid balance plus interest and charges up to the settlement date, and you only pay a pro-rata share of interest for the time you had the money.

Yes. Presto Loans is a registered credit provider with the National Credit Regulator (NCR), registration number NCRCP19612. We lend responsibly and in full compliance with the National Credit Act.

Our Cash for Gold & Valuables service gives you the option to turn gold coins, Krugerrands and other valuable coins into cash at market value. We also offer finance against designer jewellery, watches and other luxury valuables, subject to our requirements and the necessary documentation. To get started, simply WhatsApp us a clear photo of your item on 072 013 1943. We'll assess it to see if it meets our requirements. If suitable, you'll bring the item in for an in-person inspection and valuation. Once assessed, we'll provide a quote and, where applicable, arrange payment by EFT. For certain valuables, you may need to provide a serial number, certificate of authenticity and/or valuation certificate.

You can call us on 010 880 8120, WhatsApp us on 060 012 9922, or email info@prestoloans.co.za. Our team is available Monday to Friday, 08:00 – 17:00.

If your vehicle is fully paid off, you may be able to use it as security to access short-term finance without selling it. To get started, WhatsApp us a clear photo of your vehicle. You'll need to provide your Natis RC1 and proof of insurance, after which we'll assess the vehicle. If it meets our requirements, you'll receive a quote and can access cash against your vehicle, subject to affordability and approval.

RentPay is the third-party payment provider we use to collect your monthly loan repayments by debit order. When you apply for a loan, you'll authorise a RentPay debit order mandate. This allows your agreed fixed monthly instalment to be collected automatically from your bank account on the scheduled payment date. If a debit order is unsuccessful, the payment may be re-presented for an amount of up to 1.5 times your regular instalment, in line with the applicable debit order process.

No. Credit Life Insurance (CLI) is not compulsory for loans. However, we recommend that credit life insurance be offered and encouraged because it provides valuable protection in certain unforeseen circumstances. In particular, it can assist in protecting the outstanding capital in qualifying events such as death, disability or retrenchment, subject to the terms, conditions, exclusions and cover provided by the applicable insurance policy.

All applications go through a pre-vetting, credit and affordability assessment before a final decision is made. You may be unlikely to qualify if your credit profile shows high-risk credit behaviour, such as multiple accounts with significant arrears, accounts that have been in arrears for several months, or if you are currently under debt review. Passing the pre-vetting checks does not guarantee approval. Your final loan offer will depend on your credit profile, affordability and our lending criteria.