Updated 01.09.2022

Woolworths Personal Loan

Do you know that a known retail store like Woolworths also offers financial products to clients in South Africa? Read on to know more about what loans you can avail from them.

What is Woolworths Loans?

Woolworths started its retailer operations back in 1931 in Cape Town. The company dwelled into the retail industry and their operations have become synonymous with convenience ever since then. They now have a good number of retails outlets spread throughout the country.

Woolworths Loans

Woolworths has also expanded into the business of providing financial services to South Africans. Woolworths financial services is a registered credit provider which offers in-store credit cards, insurance coverage, and revolving personal loans to thousands of customers throughout the country. Woolworths is recognised as a reliable provider of quick cash to cover unforeseen expenses or if you are in financial distress.

Woolworths Loans

To get a Woolworths personal loan, just provide your personal details and fill out the online loan application form that can be found on their website. If you don’t want to use the online application form, you can also apply directly for the loan in person from one of their numerous stores nationwide.

You can get your loan approved and the extra cash deposited in your bank account within 2 days after they receive your request.

Woolworths provide an electronic statement of your loan so you can better track your status.

You can request Woolworths to increase the limit of the loanable amount in case you really need additional funds. This is available to every customer who frequently take their loan offers and repay them on time.

Woolworths personal loans also come with an optional Balance Protection. When you avail this extra service, your remaining balance will automatically be covered in case of death, critical illness, retrenchment, or permanent disability.

Interest & Fees

Woolworths loans have low initiation fees and monthly service fees. Woolworths personal loans have a variable interest rate, though, which means they may change from time to time, depending on the fluctuations in the market prime rate.

Their loan rates are bound by the regulations implemented under the National Credit Act. Rest assured you won’t be charged with rates exceeding the limits allowed by the law.

Repayment Schedule

Woolworths personal loans have flexible repayment terms. The repayment period can be set up to a maximum of 5 years to help you get a lower monthly repayment amount.

Repayments are automatically debited from the bank account where your salary is deposited regularly every month via a monthly debit.

Woolworths loans have flexible loan terms and can also be settled earlier than the agreed period so you can save more money. They also have a flexible repayment term, allowing for additional monthly repayments to be paid to hasten the completion of your debt obligation. This can be done as repayment without penalty, unlike loan offers from other lenders.

Use a personal loan calculator to help calculate what your payments would be. You can see an example of the loan repayment table below:

Woolworths Loans


To qualify for a Woolworths personal loan, you must satisfy the following basic requirements:

  • A South African of legal age (18 years old and above)
  • Have a South African ID book
  • Earning a monthly salary of at least R2 000 (proven with monthly statements)
  • Have a bank account under your name
  • You must be residing in South Africa
  • You have an SA phone number where Woolworths can contact you

When submitting your loan application form, include your payslips and bank statements for the past 3 months. They may check your credit profile before approving your application.

Woolworths Financial Services Contact Details

You can get in touch with Woolworths personnel by submitting a query using their online contact form. You can also get in touch with them through phone or email. They have separate email lines for queries and complaints.

Woolworths Financial Services Contact Number: 0861 50 20 20

Email (Queries): queries@wfs.co.za

Email (Complaints): complaints@wfs.co.za

The schedule of their operating hours is listed below. You can contact them during these times:

Weekdays: 8:00 AM to 9:00 PM

Weekends and Public Holidays: 7:30 AM to 9:00 PM