Updated 23.01.2023

Wonga Loans

What is Wonga Loans?

Wonga Loans is an online lending company that aims to provide cash to those who have urgent expenses and can’t wait for a bank to process their loan application. They use a complex risk and decision algorithm that enables them to swiftly assess loan applications. 

Wonga loans

How to get a Wonga Loan

On the website, you’ll find a tool that lets you determine how much you want to borrow and how much time you need to repay. All the details about the loan, including the interest, fees, and repayment amount, are displayed on the tool so it’ll be easier for you to decide whether to proceed with the application or not.

Wonga can lend you from R500 up to R4 000. Existing customers who have a good credit record are allowed to borrow money up to R8 000.

The loan period for the loan is 4 days up to 6 months. Other short-term micro-lenders only allow up to a month before they ask you for repayments. Moreover, when you choose a loan period of 2 months or more, you can divide your repayments into several installments to make it easier to pay on your end.

You have to provide personal information in order for Wonga to properly assess your capability to pay the loan. You will have to upload your payslips and provide details on your monthly income to get approved. Once approved, the money will be deposited to your bank account within the day.

Interest & Fees

The maximum monthly interest rate of Wonga loans is 3%. That’s 0.1% per day which is lesser compared to those offered by other lending companies.

For the first R1 000, Wonga charges an initiation fee of 16.5% on the amount. Any amount in excess of R1 000 will incur a 10% cost. Initiation fee computed in this way should not exceed R1 000.

Wonga requires a service fee of R69 per month which is pro-rated for the first month.

All fees and charges already have the 15% VAT included in them.

Repayment Schedule

Repayments are automatically debited from the bank account where you regularly receive your income.

Wonga allows early repayments if you want to save on accruing interest. Other lenders charge early payment fees but not Wonga.

If you can’t pay your loan on time, it’s best to talk with Wonga about your problem. They can help find a solution to make it easier for you to repay your debt. They’re flexibility in dealing with different situations make them one of the favorite micro-lenders in South Africa.


Wonga will require you to submit a copy of the following documents and other personal information to confirm your identity and ability to repay the loan on time. 

  • Your SA ID number
  • Bank account details
  • Mobile phone number
  • Latest payslips or bank statements where your salary is deposited regularly

Wonga is very open to freelancers and consultants who apply for personal loans. If you’re one of them, you just have to provide proof that you’re getting paid regularly and your savings can cover the loan you’re applying for.

Wonga Loans Contact Details

For questions and concerns, you can reach Wonga through any of the following methods:

You can also access their chat widget on the website and leave a message. They’ll respond to you as soon as a Wonga agent is online to attend to your needs.

Wonga’s business hours are as scheduled below:

  • Mondays – Fridays: 7:00 AM to 7:00 PM
  • Saturdays: 8:00 AM to 1:00 PM

They only process transactions and queries during business hours.