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  • Personal Loans up to R120,000
  • Low-interest starting from 21%
  • Repayment up to 60 months

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Woolworths homepage
Author Woolworths. Screenshot of Woolworths website.
[Accessed May 5, 2023]

About Woolworths

Woolworths doesn’t only offer a personal loan facility. They offer a black and gold credit card as well as a store card. These products are made available by Woolies financial services division.

Woolworth Financial Services (WFS) is a division of Woolworths and are slowly growing its market share and offering more and more useful financial services.

Delivering quality since 1931

Established in Cape Town in 1931 by Max Sonnenberg, Woolworths quality expanded to Durban and PE and is, today, one of the country’s most loved brands.

They’re not only known for their superior quality but for their innovative principles and different way of approaching business.

They were the first company to offer medical aid, pensions, and maternity benefits to employees. They were also the first to make use of an electronic merchandise system in the seventies, and incredibly, were the first to post sell-by dates on their products.

Woolworths is truly making a difference

From supporting sustainable farming initiatives to the ethical sourcing of produce, Woolies is truly dedicated to doing things the right way. Apart from their outstanding quality, this is one of the reasons that they are such a respected brand.

They support local communities and take part in various initiatives to improve food security, take care of the environment, and look after the people of South Africa.

Competitive financial services department

Woolworths are a registered credit provider and their store cards, credit card offerings, and reloving personal loan facility have been increasing in popularity.

As their financial services division has expanded they’ve been able to bring in better offers, more flexibility, lower rates, and help you stay on top of it all with the help of the latest technology.

If you’re looking for a personal loan that offers more flexibility, this is it. You’re offered a Woolworths loan amount based on your affordability and you get to repay and reuse this as needed.

Woolworths Services

While Woolworths is known for its high-quality consumer goods and quality groceries, few know that they offer a competitive personal loan facility.

You can access a revolving Woolworths loan of up to R120,000 from their financial services division, referred to as WFS. They offer this facility at a flexible interest rate with 12 to 60 months to repay.

What’s more, is that you can access any sum already repaid on your loan when you need it! This is why their personal loans are referred to as revolving credit facilities and not just a term loan.

Woolworths loan repayment terms

WFS have five repayment terms available, ranging from one to five years. You have to choose one of these options when you make your initial application.

Your interest rate will be personalised to your credit profile and will be disclosed in your pre-agreement and is a variable annual rate. This means that it will fluctuate according to the Repo rate.

Additional loan costs

  • The flexible interest rate is charged on your outstanding balance daily
  • You must pay an initiation fee at the start of the agreement
  • You also pay a monthly service fee

When any of the two recurring charges change, Woolworth will provide you with notice. This ensures that you know exactly what has changed and why.

Add comprehensive balance protection cover

You can choose to add insurance to your Woolies revolving personal loan. This insurance product will pay your outstanding loan in the event that you pass away, suffer from a critical illness, or become permanently disabled.

It also covers your loan repayments for up to a year if you are temporarily disabled or are retrenched. In both cases, the insurance is limited to R100,000 and in order for the insurance to pay out your account must be current.

Woolies have partnered with Absa

Woolworths have a partnership with ABSA that underwrite all their balance protection policies on personal loans.

Woolworths – Personal Loan

  • Loan Type Personal Loans
  • Interest Rate from 21%
  • Loan Amount up to R120,000
  • Repayment 160 days to 60 months

Benefits of Woolworths

  • Affordable loan terms
  • Flexibility to increase your limit

Personal Loan calculator

The interest rate of a loan will vary based on your credit score and risk profile.
This personal loan calculator is for illustration purposes only.
The use of this loan calculator is subject to our terms of use.

Get your Woolworths loan of up to R120,000 today

To apply for a Woolworths loan you can complete the simple online application, visit a store, or use the app and follow the prompts. Your loan should be approved and paid out within 48 hours.

Do you qualify for a Woolworths loan?

  • You’re 18 years or older
  • Have a South African identity number
  • Be able to provide proof of income in the form of payslips or bank statements
  • Have a South African account
  • Earn R2,000 or more per month

9-step online loan application process

  1. Pre-check that allows you to find out whether you have an existing application active
  2. Affordability check
  3. Select your loan amount and preferred repayment term
  4. Your marketing preferences
  5. Contact details of friends and relatives
  6. Provide proof of income
  7. Verify your information
  8. Application is processed

Keeping track of your WFS loan

Woolies will send you a statement at the end of every month. This will specify how much you borrowed initially, what your outstanding balance is as of the statement issue date, the current interest you’re being charged, and the date and amount of your next repayment.

You’ll receive this statement via email but it is also available via the Woolies app. All repayments on your loan will be automatically debited from your bank account.

Repay your Woolworths loan early

You may repay your loan early at no extra cost. This means that you can make extra payments towards your outstanding balance or settle the loan in full.

Here’s how to pay your loan early

  • You can use EFT
  • Pay instore
  • Make a deposit at any ABSA branch
man holding thumbs up

Woolworths is a trusted & reliable provider of personal loans

In our review, Woolworths adheres to the compliance criteria in accordance with the National Credit Act, where the granting the loan will not cause financial distress to the consumer.

✅ Woolworths is a registered credit provider in South Africa: NCRCP 49

Woolworths Contact

Physical Address

  • Adderley St & Strand Street, Cape Town City Centre Cape Town Western Cape 8001 South Africa
  • Get Directions

Opening Hours

  • Monday 07:00 – 18:00
  • Tuesday 07:00 – 18:00
  • Wednesday 07:00 – 18:00
  • Thursday 07:00 – 18:00
  • Friday 07:00 – 18:00
  • Saturday 09:00 – 17:00
  • Sunday – Closed