Updated 22.04.2021

Mulah PayDay Loans

What is Mulah Loans?

The aim of Mulah Loans is to provide quick-access personal loans to young professionals who need money on a short-term basis. They company wants to make the loan application much easier compared to banks by making the procedure available online.

Mulah Loans is composed of a team of analysts, entrepreneurs, and micro-finance specialists who understand what the people of Mzanzi needs. 

Mulah Loans offers quick, online cash to people who need money for urgent matters. They cut out the middlemen to reduce paperwork and the high fees associated with them. Instead, they use an algorithm which determines a client’s risk factor based on their salary and the loan amount they’re applying for.

Getting approved and receiving cash from Mulah Loans is much faster compared to a bank’s service period. In addition to this, the funds can be released by Mulah Loans to their client’s personal bank account wherever they are in South Africa.

The company is registered with the MFSA, so you’re sure they’re a legitimate business running within the bounds of the law.

Mulah Quick Cash Loans Online

Getting Your Loan

Mulah Loans makes it easy to apply for a personal loan by using the online calculator found on their website. The loan calculator quickly provides you with all the information you need without having to call anyone from the team for clarification. The interest and fees, the repayment amount, and the repayment deadline are all available on the loan calculator.

You can borrow as little as R400 up to as high as R4 000 from Mulah Loans. But if you’re a new client, the maximum loan amount they can approve is only R2 500.After submitting the requirements, Mulah Loans will conduct a quick review of your financial information. You’ll be notified through SMS and through email if ever your application gets approved. You’ll also receive a quote and contract for the loan. If you’re happy with the deal, you should sign and fax or email it back to Mulah Loans. Once done, all you have to do is wait for the money to be transferred to your bank account.

Interest & Fees

Mulah Loans collects a service fee of R50 per month.

The rates for the initiation fee varies, depending on the loan amount you entered. For loan amounts under R1 000, the initiation fee amounts to 15% of the loan value. On the other hand, the fee for loans exceeding R1 000 is at R150 plus 10% of the amount in excess of R1 000.

For the interest rate, it’s at 0.17% per day. It’s fixed and will stay the same for the full length of the loan agreement. 

So, for example, your loan amount is R2 000 which is to be repaid in 15 days. The total repayment value will be R2 379.31.

Repayment Schedule

All debts must be paid within 30 days from the release of funds. All repayments are collected through debit order. 

Failing to pay the loan on time will incur you a penalty fee of R60 and a 5% interest monthly. In addition to this, a potential legal action might be executed and your credit rating will be downgraded.


The online loan application form will require you to input basic information about yourself which you have to answer with all honesty. In addition to this, you’ll be required to submit a copy of the following documents either through fax or email.

  • Bank statement covering the last 3 months
  • Your South African ID Document

Mulah Loans conduct a quick credit check to ensure you’re capable of repaying the loan amount applied for. 

Contact Details

Business hours of Mulah Loans are every Monday to Friday, from 8:30 AM to 4:00 PM. They’re closed during weekends but you can still apply for a loan anytime. The approval and release of funds will resume on business hours.

If you have queries or concerns, you can contact them through any of the following channels:

  • Phone: +27 (87) 237 7010
  • Fax: +27 (86) 599 6280
  • Email (Info): services@virginmoneycard.co.za
  • Email (Accounts): accounts@mulah.co.za

They also have a chat option where you can leave a message. Mulah Loans agents will contact you right away once they get the chance to do so.