RCS — loans online in South Africa

RCS Personal Loan is an unsecured cash loan from RCS (RCS Cards Proprietary Limited), a registered credit provider in South Africa (NCRCP38). 

It offers loans from R2,000 up to R300,000 with fixed interest and flexible repayment terms of 12–60 months. Funds are deposited into your bank account within 24 hours of approval.

Loan terms

• Loan amount: from R2,000 to R300,000, based on individual assessment
• Repayment term: from 12 to 60 months
• Interest rate: from as low as 15%, fixed for the term; the rate will never exceed the NCA maximum of 27.75% per year
• Initiation fee: shown as R1,207 for a R10,000 loan in the representative example
• Monthly service fee: R69

Requirements

You can apply if you:

• Are 18 years and older
• Have a South African ID or driver’s license
• Have a South African bank account
• Are employed and earn R3,000 or more per month
• Can provide proof of income documentation

Documents from you:

• A South African ID or driver's License
• Latest pay slip or bank statements

How to apply and get a loan

1. Apply online: answer a few simple questions and get a provisional response within seconds.
2. If provisionally approved, complete the full online application and submit your proof of income documents.
3. Once approved, the loan is deposited into your bank account within 24 hours.

Repayment and payment methods

Your monthly instalment is automatically debited from your bank account on the date you selected at application (debit order).

You must pay by debit order; you authorise RCS to deduct the monthly payment and any arrears via debit order.

You can pay more than the minimum due, but this reduces the balance and does not let you skip a payment.

Electronic fund transfers are allowed; use your account number as the payment reference.

Other terms

Early repayment: you can settle the account in full by contacting RCS to obtain a settlement amount; settling does not automatically close the account.

Arrears and late payment: if you go into arrears, you will be charged default administration and debt collection costs; adverse information will be reported to credit bureaus; the loan may be suspended or handed to debt collectors.

Default interest: if in arrears, additional interest is charged on overdue amounts at the same rate as the agreement.

Customer Protection Insurance (CPI): required where you have an approved loan and a balance owing; covers death/permanent disability (outstanding balance), and loss of income/temporary disability (up to 12 months’ instalments). You may waive RCS’s CPI and substitute an equivalent policy ceded to RCS.

Insurance premiums are billed to your account and collected as part of your instalment; cover applies only if the account is not in arrears.

Interest is calculated daily and compounded monthly; the rate is linked to the repo rate and fixed for the agreement period.

Features

• Fixed interest rate for the term (never exceeds 27.75% p.a.).
• Cash in your account within 24 hours of approval.
• 12–60 month flexible repayment options.
• Paperless, online application with provisional answer in minutes.
• Customer Protection Insurance available (optional substitute allowed).
• No collateral required (unsecured personal loan).

Representative Example If Lerato borrows R10 000.00 and selects a repayment term of 24 months. She will pay a once-off initiation fee of R1 207.00 and a monthly service fee of R69.00. An illustrative example of a loan at an interest rate of 27.75% would be: Loan amount of R10 000 borrowed for 24 months. Annual Interest Rate: 27.75%. Initiation fee: R1207. Monthly service fee: R69 Total Amount payable: R17 085.68. Monthly instalment amount: R711.90.