| Parameter | Value |
|---|---|
| Minimum loan amount | R500 |
| Maximum loan amount | R250,000 |
| Minimum loan term | 61 days |
| Maximum loan term | 60 months (5 years) |
| Minimum APR | 0% (introductory offers from select lenders) |
| Maximum APR | 36% per annum |
| Platform fee | R0 (Finpug is free to use) |
| Funds disbursement time | 15–30 minutes after lender approval |
| Application time | Approximately 2 minutes |
| Currency | ZAR (South African Rand) |
Loan Categories Available Through Finpug
Quick Loans (short-term)
- Amount: up to R8,000
- Term: 1 month – 2 years
- Disbursement: within 5 minutes for major SA bank account holders
Personal Loans
- Amount: up to R100,000
- Term: 1 – 4 years
- Suitable for: debt consolidation, home improvement, large purchases
Long-Term Loans
- Amount: up to R250,000
- Term: 25 – 60 months
- Suitable for: major planned expenditure with structured monthly repayments
Borrower Requirements
To be eligible for loan offers through the Finpug platform, applicants are generally required to meet the following criteria (individual lenders may apply additional requirements):
| Requirement | Standard Criteria |
|---|---|
| Nationality | South African citizen or permanent resident |
| Age | 21 – 70 years |
| ID | Valid South African ID document or Smart ID card |
| Income | Stable, verifiable income (payslip or bank statements) |
| Banking | Active South African bank account with internet banking |
| Credit record | Assessed per individual lender's criteria |
Total Cost of Credit — Worked Example
To illustrate how costs are structured for a loan accessed through Finpug's network:
Example: R5,000 personal loan over 6 months at 24% APR
| Component | Amount |
|---|---|
| Principal | R5,000.00 |
| Annual interest rate | 24% |
| Monthly repayment (approx.) | R906.00 |
| Total repayable | R5,436.00 |
| Total interest paid | R436.00 |
Note: Actual figures depend on the specific lender's pricing, initiation fee, monthly service fee, and credit life insurance premium. These components will be itemised in the NCA pre-agreement statement and quotation before you sign.
NCA Maximum Prescribed Rates (for reference)
Under the National Credit Act, credit providers in South Africa may not charge more than the following:
- Short-term loans (up to R8,000, up to 6 months): interest 5% per month; initiation fee 15% of first R1,000 + 10% of balance; monthly service fee R60
- Personal loans (unsecured): interest 21% per annum + repo rate; initiation fee limited per NCA schedule; monthly service fee R68.40
Lenders on Finpug's platform are bound by these caps.
Risk Warning
Borrowing is a financial obligation. All loans facilitated through Finpug must be repaid in full according to the agreed schedule. Late payments incur penalty interest and fees. Repeated missed payments may result in legal action and negative credit bureau listings, which can affect your ability to obtain credit, housing, or employment in the future. Never borrow more than you can afford to repay. If you are experiencing financial difficulty, contact the NCR Debt Helpline on 0861 662 837 or seek a registered debt counsellor.
FAQ — Terms and Conditions
Is there a minimum credit score to use Finpug? Finpug itself does not set a minimum score — each lender in the network sets its own credit criteria. Some participating lenders cater to borrowers with below-average credit scores.
Are there penalties for early repayment? Under the National Credit Act, borrowers have the right to settle a credit agreement early at any time without a penalty fee. Confirm the settlement procedure with your specific lender.
What fees does Finpug charge? Finpug charges borrowers nothing. All fees (initiation, service, and interest) are charged by the individual lender and are disclosed upfront in the pre-agreement statement.
Can I borrow in a currency other than ZAR? No. All loans available through Finpug South Africa are denominated in South African Rand (ZAR).