Our Lenders Are Registered with the National Credit Regulator

Our lenders are National Credit Regulator (NCR) registered, a crucial aspect of what makes a trustworthy lender. The National Credit Regulator holds lenders accountable, ensuring they follow ethical, non-predatory lending practices. The NCR is an organisation mandated by the National Credit Act that regulates lenders, PDAs, and debt counsellors.

Since we’re National Credit Regulator regulated, it’s safe to say that we’re completely legitimate. You can trust our team, who have years of experience helping South Africans everywhere with quick and easy online loans. Our application form is 100% confidential, keeping your information safe and private. Get a quick loan now.

How the National Credit Regulator Holds Lenders Accountable

Under the National Credit Act, the National Credit Regulator has a maximum interest rate threshold. Interest rates are determined by the prime (repo) rate, which goes up or down depending on the Monetary Policy Committee (MPC), which meets six times a year to discuss the repo rate. Usually, this is determined by global policy, especially US monetary policy.

Over the past decade, the repo rate has fluctuated between a low of around 3.50% and a high of over 8%. The prime rate is determined by the South African Reserve Bank and influences the final rate banks and lenders may charge. As of February 2025, lenders may charge a maximum interest rate of 27,75%.

How Does the Application Process Work?

To apply for Speedy Loans, you must fill in our application form. We’ll ask for:

1. Your name, surname, and ID: to verify your identity
2. Your cell number and email address: to contact you
3. Your net pay: the amount you receive after taxes and other deductions are taken from gross pay.
4. Your loan amount: how much you would like to borrow from us.
5. Why you need the loan: so we can personalise the loan to your circumstances.
6. The total amount you owe on all of your debt: so we can assess how much you can afford to repay each month and how high of a default risk you are.
7. The total monthly payments you make, despite whether you pay them: so we can tailor your monthly repayments
8. If you pay all your accounts each month: this is so we can figure out whether you need debt help.
9. Whether you pay your instalments in full.
10. If you have a house and vehicle on credit: this way, we can ascertain how large your total outstanding debts are
11. If you have credit report problems that have previously prevented you from taking out a loan: our partners can help you clear your credit report.
12. Whether you’re under debt review, administration, or sequestration: legally, we can’t lend you money if you’re receiving debt help.

After you’ve filled out our application form, we’ll get to work on your loan agreement.

Why Speedy Loans?

Speedy Loan’s experts have years of experience helping people just like you get the loans they need, whether that’s personal loans, online loans, large loans, short-term loans, payday loans, or consolidation loans. Let us help you get a quick and affordable loan online. Apply today.