About Boodle
Boodle is a popular South African online lender offering short-term payday loans. Known for its simple, fast application process, Boodle caters to borrowers who need small amounts of cash quickly. First-time borrowers can access up to R4,000, with the limit increasing to R8,000 for returning clients with a good repayment history.
Loan Details
- Loan amounts: R100 – R4,000 (first-time) / up to R8,000 (returning)
- Loan terms: 2 days to 6 months
- Interest rate: 0.17% per day (approximately 60% per annum)
- Payout time: Same day — often within minutes
- NCR registration: NCRCP11920
Requirements
- South African citizen or permanent resident
- At least 18 years old
- Valid SA ID
- Regular income (employed or receiving grants/pension)
- Active South African bank account
- Working cellphone number
Fees
Boodle charges an initiation fee of R165 + 10% of the loan amount (plus VAT), and a monthly service fee of R60 + VAT. These fees are compliant with the National Credit Act limits.
Pros and Cons
Pros
- Very fast approval and payout
- Low minimum loan amount (R100)
- Fully online — no paperwork
- Increasing limits for loyal borrowers
Cons
- High daily interest rate
- Low initial limit (R4,000)
- Not suitable for long-term borrowing
