Loans for Blacklisted in South Africa

The world of finance can be daunting, but if you are one of the South Africans who are blacklisted, accessing finance and credit can be even more difficult. It can have a serious impact on your prospects. So, where does that leave you? Don’t despair. Blacklisted loans are available in South Africa. In this guide, you will find the answers to all the questions you might have about blacklisted loans, from what it means to be blacklisted to how to manage your blacklisted loan and protect or rebuild your credit record.
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R 2100.19
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R 26011.17
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R 126011.17
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*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. Swift Banker 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 applicants' credit score and other factors at the lender's discretion.

Loan amount R100 - R250,000. Repayment terms can range from 3 - 72 months. Minimum APR is 5% and maximum APR is 60%.

What Does It Mean to Be Blacklisted?

Being ‘blacklisted’ is a term widely used in South Africa to describe people with bad credit registers, where lenders list the names of defaulters. This happens when you miss payments, pay late, default on accounts or if a court judgment has been raised against you. If you are blacklisted, lenders will regard you as a high-risk borrower and will deny you loans or other forms of credit. Blacklisting can affect various aspects of your financial life including the ability to rent property, get a mortgage, or get a job in some sectors.

Because of the stigma attached to this status and its limitations, it pays to stay on top of your credit behavior – to pay on time, use credit sparingly, and avoid excessive debt. If you are blacklisted, it is possible to get yourself unlisted by negotiating payment arrangements with your creditors and disputing any errors that show up in your credit report.

How to Check if You Are Blacklisted

Before looking at the various loan possibilities, it is important to check if you have a blacklisting. Here is how:

Credit Reports

Go to the top three credit bureaus in South Africa: TransUnion, Experian or Compuscan and get a copy of your credit report. Check your credit status regularly so that you are aware of any changes in your credit status and any discrepancies that could indicate you have been blacklisted.

Free online tools

Many websites now allow you to check your credit score for free and investigate whether you are blacklisted. They provide you with an almost instant check on your credit status.

Bank Warnings

On rare occasions, your bank will contact you directly (even in person) or issue a special warning letter or a special warning in a statement to inform you that you’ve been blacklisted. If your bank contacts you about anything that seems unusual or out of character, ensure that you pay close attention.

Short-term Loans for People with Bad Credit

If a person has bad credit, short-term loans are an excellent option. Usually, this type of loan comes with a significantly higher interest rate, but due to its quick approvals and, sometimes, short repayment terms (usually a month), cash-strapped individuals may find it convenient to go this route. Though short-term loans might not be a perfect fit, this solution can save you a lot when you urgently need some money and have nowhere else to turn.

Get a Short-term Loan For Blacklisted

Several financial institutions are your best shot to get short-term loans for blacklisted people. First of all, locate lenders who mainly advertise loans for blacklisted people. Try to provide some assets for collateral because it will be more convenient if you own something the lender can take on should you fail to repay your loan. Secondly, have a co-signer with a good credit score, as it helps by making your loan look more credible or less risky than it is. With these strategies, you will get a loan even if you are blacklisted.

Short-term Loans for Blacklisted in South Africa

Several lenders in South Africa are aware that a blacklisted status will affect the financial freedom of an individual and customize their lending packages for those seeking short-term loans. These companies include Wonga, Lime24 and Boodle, among others, and process loan approval much faster and with more flexibility than the conventional banking process.

Reasons You Might Be Declined for a Loan

Even specialized lenders can decline your loan application for various reasons:
  • Extremely High Debt-to-Income Ratio: if your current debts are too high in relation to your income, you are likely deemed too risky.
  • Incomplete Applications: Ensure all your documentation is complete and accurate.
  • Insufficient Collateral: Lenders may require collateral, and lack of it can lead to rejection.

High-risk Lenders Offering Blacklist Loans

High-risk lenders assume the financial risk of lending to people with negative credit histories. While they serve an important purpose, they are not risk-free. These loans for black listed often come with high interest rates to cover the risk. Furthermore, very tight repayment terms often accompany them, and failure to adhere to those terms can have severe consequences. Nevertheless, high-risk lenders may be a crucial resource for those who are struggling financially.

Government Support for People Who Need Blacklisted Loans South Africa

Thankfully, the South African government offers a lot of assistance in the form of programs and systems for those people with bad credit. They can enroll in what is known as Debt Review, a legal process that assists people in paying off debts more effectively. 

The National Credit Act offers legal protection to customers against acts of lenders, providing them with assistance to ensure fair treatment in repaying loans and debts. Government grants can be obtained to give people a helping hand and support them back onto their feet.

Alternative Ways to Get Short-term Blacklisted Loans

Lack the credit history or collateral to take out a shorter-term loan? Peer-to-peer lending sites such as RainFin let you borrow from individuals if you need loan but blacklisted. Community organizations often offer microloans, which tend to be smaller and carry less stringent repayment obligations. There are crowdfunding sites, such as GoFundMe, that can allow you to raise money from the public. Additionally, friends and family can offer loans that may be easier to access and certainly easier to negotiate terms with than formal financial institutions.

How to Manage Your New Loan When Blacklisted and Rebuild Your Credit Record

If you get a loan for the blacklisted, then you should take care of it to return to respectability: 
  • Timely Payments: Always make your loan payments on time.
  • Budget: Make a budget so you can stay on top of your expenses and make sure you can manage your repayments.
  • Monitor Your Credit: Regularly check your credit report to track your progress.
  • Low Balances: Keep your credit card balances as low as possible to avoid higher interest rates and additional debt.
  • Do Not Incur New Debt: Do not take on any new debt whilst repaying your loan. 
  • Save Money: Establish an emergency fund to cover unexpected expenses and prevent missed payments.
  • Get Some Help: Go to a financial advisor for help in developing a solid repayment plan.


Being blacklisted does not spell doom for your financial future. Short-term loans and a variety of other options and tools could help you get out of your present tight spot and work on improving your credit. South Africa has a number of short-term loan options. With disciplined management, you could eventually get those blacklisting records expunged.

If you are ready to take that first step, contact Swift Banker today and ask about loans for blacklisted persons. Swift Banker is ready to help you. 

Need assistance or have questions? Contact Swift Banker at for personalized support.

Frequently Asked Questions

Sure, blacklisted persons can still borrow, but their choices might be limited. There are lenders who specialize in offering loans to customers with poor credit, often at high interest rates
As long as you pay off your debts, negotiate settlements, and make your payments on time, you can begin to redeem yourself with the credit bureaus and remove yourself from the blacklist.
To get off the blacklist, pay off all debts, resolve all disputes, settle all your financial obligations, and check your credit report often to ensure that it is accurate and reflects your efforts.
The duration can vary. Depending on how much money you originally owed and how consistently you make timely payments, you might require several months to a few years.
The main risk with a secured loan is that you may lose the collateral—e.g., the house or the car—if you can’t make the repayments. Secondly, secured loans for blacklisted carry a higher interest rate and fee.
Consider interest rates, fees and terms of repayment. Assess your ability to pay on time so you don’t worsen a bad credit situation. Consider options such as borrowing from friends or family.

In South Africa, you can choose between micro-lenders, specialist financial institutions and some peer-to-peer lending platforms. Do your homework before borrowing to make sure you understand the lender and the terms.

With awareness of those options and some foresight on your part, you can ease your way back to creditworthiness and a more promising financial future.