Guaranteed approval loans for bad credit provide our customers with the freedom and flexibility to borrow the money they need, without over-burdening them on their next payday as long as they are used correctly. Money Wisely  provide customers short term loans that work on the same principle as guaranteed approval loans for bad credit with pre-scheduled repayment terms, spread over 3 months.

What Are Guaranteed approval loans for bad credit?

A guaranteed approval loans for bad credit is exactly what the name says it is. They are a loan that can be repaid over a period of time, rather than all in one lump sum. This means customers can spread the cost of their loan. Everything from a mortgage to a payday loan can be a type of loans for bad credit.

The kind of loans Money Wisely  provide is a way for customers to get access to a financial boost when they are struggling to meet their unexpected urgent financial commitments before their next cheque comes in. Guaranteed approval loans for bad credit also typically have a fixed interest rate.

Guaranteed approval loans for bad credit Vs. Revolving Credit

Revolving credit is a financial service, like a credit card. You are given a limit on how much you can spend, but there is no lump sum borrowed. There is a lot of flexibility and you can use this kind of credit on an as-and-when basis; it is called revolving credit because you can pay off however much you’ve used, and start over again, whereas with a loan you are tied into one amount and will have to source alternative credit or financing if you need access to money again.

An guaranteed approval loans for bad credit does mean that you will have a set payment plan at the time you agree to the loan. This could make budgeting easier and more dependable. In fact, many people use guaranteed approval loans direct lender to pay off revolving credit debt.

The kind of guaranteed approval loans for bad credit we offer are not suitable for ongoing to escalating debt problems, but are instead a one off solution. This is because we offer high cost, short term credit. Our loans are available between R1000 – R30 000 and are designed to help customers through a genuine emergency, whereas revolving credit might be used more regularly, for smaller costs.

We do encourage our customers to borrow responsibly, but we are a compliant and ethical lender. This means that we will run affordability checks to ensure you are suitable for a payday loans from us. If we are unable to fulfill your request, we may be able to connect you with another, trusted consumer credit company or financial service that is suitable for your situation.

What is guaranteed approval loans for bad credit?

Guaranteed approval loans for bad credit refer to a category of loans where lenders promise to approve loan applications regardless of the borrower’s credit history. These loans are targeted at people with poor or no credit, and those who have been denied loans traditional lenders due to their creditworthiness.

What is the Key features of guaranteed approval loans for bad credit?

  • No Credit Check: Our lender do not perform a traditional credit check, which means they don’t assess the borrower’s credit score or credit history during the application process.
  • High Interest Rates: These loans often come with higher interest rates compared to loans offered to borrowers with good credit. Lenders charge higher rates to offset the risk associated with lending to individuals with poor credit.
  • Short-Term: Many guaranteed approval loans are short-term loans, with repayment periods ranging from a 2 weeks to 6 months.
  • Smaller Loan Amounts: The loan amounts for guaranteed approval loans are usually smaller, ranging from a few hundred to a R30, 000.
  • Quick Approval: These loans are known for their no credit check loans guaranteed approval South Africa, often providing borrowers with access to funds within a short period, sometimes even within hours.

When Are Guaranteed approval loans for bad credit A Good Idea?

Data shows that 47% of South Africa adults are not confident when making decisions about financial products and services, as reported in a 2021 survey. Reports from the year before, as lack of financial education and confidence about financial products means consumers are using credit cards when a guaranteed approval loans for bad credit might be a better option. Depending on the individual circumstances, a guaranteed approval loans for bad credit might be considered more manageable to pay back, but it should still not be taken out at whim.

We are not able to restrict how customers spend their loans. However, we work to strict a lending criterion that helps us to protect customers from borrowing money that they cannot afford to repay. We will assess who is eligible for a guaranteed approval loans for bad credit based on several factors, but we never want to put our customer’s long-term financial future at risk because of their current situation. Our loans are high cost, short term credit. This kind of loan is defined by its high interest (over 1000%) and short repayment period.

How Does a Guaranteed approval loans for bad credit Work from Money Wisely?

With a guaranteed approval loans for bad credit you can borrow anywhere between R200 and R30, 000 when you choose to borrow from Money Wisely. These small loans are designed to provide enough money to manage an emergency situation; the funds we lend to customers are enough money to cover the costs of car repairs, boiler breakdowns and some emergency medical expenses. Urgent loans at Money Wisely are structure into a 6-month loan.

Repayment periods are scheduled at the time of approval. We will also send our customers reminders to help make sure they have the necessary funds in their account ready for each payment.

Who is eligible for a guaranteed approval loans for bad credit?

  • Be 18 years old
  • Be a legal South Africa resident
  • Be able to show R4000 earnings per month, after taxes

We are dedicated to explaining things clearly and concisely; customers should be comfortable with their guaranteed approval loans for bad credit agreement and fully understand the cost and the repayment terms before they borrow. You can find out more about how our payday loans work on our website. We also offer financial insights and tips for managing your outgoings on our blog. is a payday loan direct lender.

This means if you have a successful loan application with us we will communicate and lend directly to you. In the event that we are not able to help you, we are also a broker and we will link you to panel of consumer credit companies who might be able to offer you: loan products, with loan terms from 1 to 6 months, loan comparison websites to give you access to the comparison of loan products or credit reports companies to help you understand credit ratings and make informed credit decisions.

Related FAQs

Can You Get Guaranteed Approval Loans For Poor Credit In South Africa?

There’s no guarantee of approval for loans, including those for people with poor credit, there are lenders in Canada that specialize in providing loans to people with less-than-perfect credit histories. These are often referred to as bad credit loans. However, it’s important to note that these loans typically come with higher interest rates and less favorable terms than loans offered to people with good credit.

Will bad credit affect my loan approval?

Yes, bad credit can significantly impact your loan approval, and it largely depends on the type of lender you approach. Here:
Traditional Banks and Prime Lenders
Alternative Lenders
Bad Credit-Specific Lenders

Why Do People Needs Guaranteed Approval Loans For Poor Credit In South Africa?

People may seek guaranteed approval loans for poor credit in South Africa for various reasons, and two common factors include:

Poor Credit History: People with low credit scores often face challenges when trying to secure traditional loans from mainstream lenders. Guaranteed approval loans are appealing to those with poor credit because they imply a higher likelihood of obtaining the loan, even with a less-than-ideal credit history.

While these loans may provide access to funds, it’s important to be cautious of high-interest rates and unfavorable terms that often accompany such approvals.

Avoidance of Credit Checks: Some individuals with poor credit may be reluctant to undergo a credit check due to concerns about further impacting their credit score. Lenders offering guaranteed approval loans may market themselves as not requiring credit checks, making them attractive to those who want to access funds without undergoing a traditional credit assessment.

However, it’s crucial to carefully review the terms of such loans, as they may come with higher costs and potentially unfavorable conditions.