TymeBank

TymeBank is South Africa's first fully digital bank, launched in 2019 with the mission of making banking affordable and accessible to all South Africans. Backed by African Rainbow Capital (Patrice Motsepe's investment firm) and the Commonwealth Development Corporation, TymeBank has grown to over 10 million customers in just five years — making it one of the fastest-growing banks on the continent.

What makes TymeBank different is its branchless model. Instead of traditional bank branches, TymeBank operates through kiosks at Pick n Pay and Boxer stores nationwide, where you can open an account in under 5 minutes using biometric verification. The bank has no monthly fees on its EveryDay account, making it the cheapest banking option in South Africa for basic transactions.

Loan Products

MoreTyme — Buy Now, Pay Later

MoreTyme is TymeBank's flagship credit product — a buy-now-pay-later (BNPL) service that allows you to split any purchase into 3 equal payments over 2 months at 0% interest. You pay the first third at checkout, the second a month later, and the final instalment in month two. There are no interest charges, no fees — it is completely free if you pay on time.

MoreTyme is accepted at over 30,000 participating retailers both in-store and online, including major brands. Late payment fees apply if you miss an instalment, but the core product is genuinely interest-free.

MoreTyme Plus

An extension of MoreTyme that allows you to split larger purchases into up to 12 monthly instalments. Unlike standard MoreTyme, this product carries interest, but the rates are competitive compared to traditional credit cards and store accounts.

TymeBank Personal Loan

TymeBank has expanded into personal loans, offering up to R150,000 for qualifying clients with repayment terms of up to 60 months. This product is still scaling and may not be available to all customers — check the TymeBank app for your personalised offer.

Interest Rates and Fees

• MoreTyme: 0% interest, 0 fees (if paid on time)
• MoreTyme Plus: Interest applies, rates depend on term length
• Personal Loan: Competitive rates, personalised based on risk profile
• Late payment fee (MoreTyme): R75 per missed instalment
• Bank account: R0 monthly fee on EveryDay account

TymeBank's value proposition is not about having the lowest loan rates — it's about the zero-fee banking ecosystem and the genuinely free MoreTyme BNPL product. For consumers who currently pay 20%+ interest on store cards for retail purchases, switching to MoreTyme at 0% represents a massive saving.

Application Process

1. TymeBank App: Download the app and open an account in minutes. MoreTyme can be activated directly in the app.
2. Pick n Pay / Boxer Kiosk: Visit any kiosk to open your account in under 5 minutes using your SA ID and fingerprint
3. Online: Start at tymebank.co.za

Account opening is instant. MoreTyme approval is automatic for qualifying TymeBank clients. Personal loan approval depends on your credit profile and income verification.

Eligibility Requirements

• South African citizen or permanent resident
• At least 18 years old
• Valid South African ID (with biometric verification)
• TymeBank account (free, takes 5 minutes to open)
• For MoreTyme: active TymeBank account with transaction history
• For Personal Loan: proof of income and qualifying credit profile

Who Is TymeBank Best For?

TymeBank is perfect for cost-conscious consumers who want zero-fee banking and interest-free retail credit. If you frequently shop at participating retailers and currently use credit cards or store accounts, switching to MoreTyme can save you thousands in annual interest. The bank is also ideal for younger, digitally-savvy consumers who prefer managing everything from their phone.

For larger loan needs (R50,000+), the Big Four banks or African Bank may offer more established personal loan products with a wider range of terms and amounts.

Pros

• Fully digital — no branch visits needed
• MoreTyme: genuine 0% interest BNPL at 30,000+ retailers
• Free bank account — R0 monthly fees
• Open an account in 5 minutes at Pick n Pay or Boxer
• Over 10 million clients — proven and growing
• Low fees across all products

Cons

• Smaller personal loan amounts than Big Four banks
• MoreTyme limited to participating retailers
• Personal loan product still expanding — may not be available to all
• No physical branches for complex queries
• Late payment fees on MoreTyme (R75 per missed instalment)

Regulatory Information

TymeBank Limited is a registered bank and credit provider with the National Credit Regulator. NCR registration number: NCRCP10649. TymeBank is regulated by the South African Reserve Bank and the Financial Sector Conduct Authority. All credit products comply with the National Credit Act 34 of 2005.