What is an Online Loan?

Put simply, an online loan is money that’s borrowed from a lender who operates and typically services the loan online too.

At Fair Money, we handle all our loans online, from initial application to final repayment. If your application is approved, the money is paid directly into your bank account, and repayments are taken automatically via the agreed monthly debit order payments from your account. Though we do also have a dedicated call centre too to assist with any queries you may have.

Try our loan repayment calculator

Before you apply for an online loan, it helps to work out exactly how much you can afford to borrow and on what terms you can make repayments.

The Fair Money loan calculator allows you to do exactly that – enter the amount you need to borrow, along with the length of the repayment period and it will show you what the total payments and costs would be.

Use the sliders to look at the costs and repayments for different loans over different periods to find the best solution for you.

Loan Application: Do I qualify for a Loan?

Once you know how much you need to borrow and over how long, you can check before you apply.

Using this you can discover whether you are likely to be approved a loan before you apply. However, you’re not obliged to take out a loan with us.

If you’re accepted, you’ll then need to give us some more information so we can run a full credit search before transferring the agreed amount to your account.

Why choose Fair Money?

If you’re looking to get a loan online, Fair Money could help. We offer short term loans which can be repaid over a period of 1 to 6 months, meaning you can spread the cost instead of paying back in one lump sum. If approved, you can borrow between R2,000 and R8,000, subject to affordability through our online process.

We can even give you a decision and you may have the funds in your account on the same day.

We don’t charge any late payment fees or early settlement fees, though we do charge an interest rate on the money you borrow as well as an initiation fee and monthly admin fees. However, we will never place any unexpected extra fees, only what was agreed upfront.

Fair Money Online Loans Instant Approval

Dependent on what your circumstances may be, applying for a short term loan with Fair Money South Africa could be a useful solution. Below, we’ve outlined different scenarios in which we may be able to help you.

Applying for a loan if you have good credit

If you have a history of good credit and paying back your loan on time, this would be deemed highly favourable when applying for an online loan. At Fair Money we will reward you with lower interest rates. When assessing your loan application, we consider your annual incomings and outgoings, along with any financial commitments you may have.

Applying for an quick online loan

If you’re looking for a same day online loan, Fair Money could offer you a 60 second eligibility decision via our eligibility checker tool. 

Applying for a short term online loan

A short term loan is one that is taken out for a relatively small amount of money and then scheduled to be repaid in less than 6 months. Fair Money short term loans are available for borrowing between R2000 and R8000, subject to affordability, and are managed online from application to final payment. Fair Money do also have a dedicated contact centre too should you need to speak to someone.

Using our loan calculator, you can decide whether a short repayment would be the best option for you, given the amount of the monthly payment. After using the calculator, you can check before you apply to see if you’re eligible for a Satsuma short term loan.

In all instances, in order to further validate your income, we may ask you for 3 months’ worth of payslips.

Fair Money’s approach to online loans

We pride ourselves on being a responsible lender, which means we’re always open about what we charge. Find out more at our charges explained page. If accepted, we’ll then run a full credit check to give you a decision on how much you can borrow and the full repayment terms.

(FAQ) Common questions about Online Loans

Do I need a credit check for online loans?

Yes. An application does require a full credit check which does leave an imprint on your credit history.

Can I get a loan online with bad credit?

Unfortunately, at this stage, Fair Money is only approving loans for good credit history clients Approval for loan is based on affordability checks and credit scores which indicate who is a good credit profile and who isn’t.

What is the lending period for online loans?

This can vary from one lender to another. However, Fair Money short term online loans must be repaid within 1 to 6 months, and repayments are made monthly.

How much can I borrow with an online loan?

This can vary from one lender to another and is usually subject to their own affordability checks. With an online loan from Fair Money however, you can borrow between R2000 and R8000 subject to affordability.

How Does It Work?

Apply today with these four simple steps.


Fill in our free and easy online application form. You will need a ID, bank statement and monthly payslip.

Eligibility Check

We will automatically assess your  eligibility against our credit history and affordability criteria.

Approval and Funding

Sign and send back your loan agreement which will be sent to you via email subject to approval. Funds deposited into your account within 24 hours.

Debt Free

Feel satisfied with the feeling of paying off your loan and being debt free