RSA Loans · Personal Loans Guide
TymeBank Personal Loan 2025: Everything South Africans Need to Know
TymeBank is one of South Africa’s fastest-growing digital banks, now offering personal loans from R1,000 to R200,000. No branch visits, fast approvals, and personalised interest rates. Here is everything you need to know before you apply.
What Is a TymeBank Personal Loan?
TymeBank — now operating under the GoTyme brand — is a fully digital, NCR-registered South African bank founded in 2015 and backed by African Rainbow Capital, making it the first majority black-owned retail bank in the country. With over 9 million customers and kiosks in Pick n Pay, Boxer, and TFG stores nationwide, TymeBank has grown into one of the most accessible banking options for ordinary South Africans.
Its personal loan product is offered in partnership with TFG Money and is available to both existing TymeBank customers and non-customers. Loans are 100% digital — no paperwork, no queues, and no branch visits required. Funds can be in your account on the same day you are approved.
TymeBank is registered with the National Credit Regulator under NCRCP10774 and complies fully with the National Credit Act (NCA). This means all fees, rates, and affordability checks are legally regulated and transparent.
Loan Amounts, Terms & Interest Rates
TymeBank uses a personalised pricing model, which means your interest rate depends on your individual credit profile and affordability. Borrowers with strong credit scores and stable incomes tend to receive the most competitive rates.
NCR Registered · NCRCP10774
Minimum Loan
R1,000
Maximum Loan
R200,000
Min Term
3 months
Max Term
60 months
Interest Rate
18% – 27%
| Loan type | Unsecured personal loan (no collateral required) |
| Interest rate type | Fixed for the full loan term once approved |
| Rate basis | Personalised — based on credit profile, income & affordability |
| Repayment method | Automatic DebiCheck debit order from your bank account |
| Early settlement | Allowed at any time — no penalty fee |
| Credit insurance | Compulsory — covers death, disability, retrenchment |
| Application fee | None |
| Payout | Same day (TymeBank account) or 1–2 business days (external bank) |
A loan of R50,000 over 36 months at 20% APR results in a monthly repayment of approximately R1,860, with total interest paid of around R16,950. Your specific offer will vary depending on your credit assessment.
Interest rates are regulated by the National Credit Act and cannot exceed the NCA cap. All costs — including fees and insurance — must be disclosed upfront in a pre-agreement statement before you sign.
TymeBank Loan Fees & Costs Breakdown
Understanding the true cost of a loan means looking beyond the interest rate. TymeBank charges the following regulated fees on personal loans:
| Fee | Amount | When Charged | Notes |
|---|---|---|---|
| Initiation fee | Up to R1,207.50 | Once-off at loan start | Regulated by the National Credit Act |
| Monthly service fee | R60 per month | Each instalment | Added to every monthly repayment |
| Credit life insurance | Calculated per R100 outstanding | Monthly (part of instalment) | Mandatory — covers death, disability, retrenchment |
| Late payment fee | Up to R60 | Per missed instalment | Applies if DebiCheck payment fails |
| Application fee | R0 | — | No fee to apply |
| Early settlement fee | R0 | — | Pay off early with no penalty |
The Annual Percentage Rate (APR) or total repayable amount includes all fees and gives the most accurate picture of what you will actually pay. Always request and read the pre-agreement statement before signing any loan agreement.
TymeBank Loan Eligibility Requirements
TymeBank’s loan application is straightforward. Before applying, make sure you meet the following criteria:
Who Qualifies
- South African citizen with a valid green barcoded ID or smart ID card
- 18 years of age or older
- Regular, verifiable income (salaried or self-employed)
- Active South African mobile number and email address
- Proof of income: most recent payslip or last 3 months’ bank statements
- Proof of residence not older than 3 months (if required)
- Good credit score and clean credit history
- Must be able to demonstrate affordability (your income must comfortably cover repayments)
Who Does Not Qualify
- Applicants with a poor or bad credit history
- Applicants currently under debt review or debt counselling
- Applicants who are insolvent or have been sequestrated
- Non-South African citizens without the correct documentation
- Applicants under 18 years old
Non-TymeBank customers can apply via the official TymeBank website by uploading three months of bank statements from their existing bank. If approved, funds are disbursed to your nominated bank account.
How to Apply for a TymeBank Personal Loan
The entire application process is digital and can be completed in minutes. Here is how to apply:
- 1
Gather your documents. Have your valid SA ID, most recent payslip or last 3 months of bank statements, and your mobile number ready before you start.
- 2
Open the TymeBank SmartApp or visit the website. Existing customers navigate to “Personal Loan” in the app and tap “Apply Now.” Non-customers go to www.tymebank.co.za and select “Personal Loans.”
- 3
Choose your loan amount and repayment term. The app’s loan calculator lets you see your estimated monthly repayment before you commit to anything.
- 4
Complete the online application form. Fill in your personal details, income information, and monthly expenses. TymeBank uses this to assess affordability as required by the NCA.
- 5
Submit your documents. Upload your ID and income documents digitally. No printing or posting is required.
- 6
Receive your loan decision. For existing customers, decisions are usually automated and take under 10 minutes. You will receive a pre-agreement statement showing all costs.
- 7
Accept and authorise the DebiCheck mandate. Sign the loan agreement digitally and authorise the DebiCheck debit order for repayments.
- 8
Receive your funds. Approved funds are paid to your TymeBank account the same day, or to your external bank account within 1–2 business days.
TymeBank will never ask for your PIN, password, or OTP over the phone or via SMS. Only apply through the official TymeBank app or website at tymebank.co.za. If someone contacts you claiming to be TymeBank and asking for upfront fees, it is a scam — report it immediately.
TymeBank Contact Details
If you have questions about your loan application or existing loan, you can reach TymeBank through the following official channels:
Official TymeBank Contact Information
Customer support hours: 07:00 – 20:00, seven days a week including public holidays. Calls are free from any local South African number.
TymeBank has no physical branches. Banking is managed via the TymeBank SmartApp, their website, or at kiosks located in Pick n Pay, Boxer, and TFG stores across South Africa. Use the in-app live chat or the WhatsApp number above to speak to a consultant in real time.
Compare TymeBank With Other SA Personal Loan Lenders
TymeBank is an excellent option for digitally active South Africans, but it is worth comparing your options before applying. Below is a comparison of the leading personal loan providers in South Africa:
| Lender | Loan Amount | Repayment Term | Interest Rate | Best For |
|---|---|---|---|---|
| TymeBank | R1,000 – R200,000 | 3 – 60 months | 18% – 27% p.a. | 100% Digital |
| Capitec Bank | R1,000 – R500,000 | 1 – 84 months | 12.9% – 27.5% p.a. | Large Amounts |
| African Bank | R500 – R350,000 | 7 – 72 months | 15% – 27.5% p.a. | Flexible Terms |
| FNB (First National Bank) | R1,000 – R360,000 | 12 – 60 months | From 12.75% p.a. | Existing Clients |
| Nedbank | R2,000 – R300,000 | 6 – 72 months | From 12.75% p.a. | Existing Clients |
| Standard Bank | R3,000 – R300,000 | 12 – 72 months | From 12.75% p.a. | Branch Network |
| Absa Bank | R1,000 – R350,000 | 12 – 84 months | From 12.75% p.a. | Existing Clients |
| Finbond Mutual Bank | R500 – R8,000 | 1 – 6 months | Up to NCA cap | Short-Term Loans |
If you need a fully digital experience with no branch visits, TymeBank is ideal. If you need a larger amount (over R200,000) or a longer repayment term, consider Capitec or Absa. If you are an existing customer of one of the Big Four banks, check your bank’s personalised offer first — loyal customers often receive preferential rates.
Capitec Bank Personal Loan — Contact Details
Loan amount: R1,000 – R500,000 | Term: up to 84 months | Rate: personalised
Capitec Contact Information
African Bank Personal Loan — Contact Details
Loan amount: R500 – R350,000 | Term: up to 72 months | Rate: personalised
African Bank Contact Information
Absa Personal Loan — Contact Details
Loan amount: R1,000 – R350,000 | Term: up to 84 months | Rate: personalised
Absa Contact Information
Frequently Asked Questions
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