Funeral loans in South Africa
Funeral costs arrive at the worst possible moment for careful decisions, which is exactly why they are worth a few minutes of checking first. A great many South African households already hold funeral cover, sometimes through several policies at once, and sometimes without the family knowing it exists.
If you do need credit — NCR-registered lenders
ordered by what each discloses · how we rank| Lender · NCR registration | Amount | Term | Interest | Basis | Details |
|---|---|---|---|---|---|
| Boodle NCRCP5361 | R500 – R8 000 | 1–6 months | Up to 5%/mo capped | ✓ Lender-confirmed | View details |
| Atlas Finance NCRCP3994 | R500 – R20 000 | 1–9 months | Up to 5%/mo capped | ✓ Lender-confirmed | View details |
| Letsatsi Finance NCRCP895 | R500 – R7 000 | 1–6 months | Up to 5%/mo capped | ✓ Lender-confirmed | View details |
| DirectAxis NCRCP20 | R5 000 – R350 000 | 24–72 months | Annual, risk-based | ✓ Lender-confirmed | View details |
| Wonga NCRCP12875 | Not disclosed | Not disclosed | Up to 5%/mo capped | ✓ Lender-confirmed | View details |
| Lime24 NCRCP8077 | Not disclosed | Not disclosed | Up to 5%/mo capped | ✓ Lender-confirmed | View details |
| FinChoice NCRCP8162 / NCRCP23514 | Not disclosed | Not disclosed | Up to 5%/mo capped | ✓ Lender-confirmed | View details |
| Barko NCRCP1764 | Not disclosed | Not disclosed | Up to 5%/mo capped | ✓ Lender-confirmed | View details |
| African Bank Not disclosed | R2 000 – R350 000 | 7–72 months | Annual, risk-based | Snapshot only | View details |
| Nedbank Not disclosed | R2 000 – R400 000 | 6–84 months | Annual, risk-based | Snapshot only | View details |
| Sanlam Not disclosed | R5 000 – R350 000 | 12–84 months | Annual, risk-based | Snapshot only | View details |
- Boodle✓ Lender-confirmedNCRCP5361
- Amount
- R500 – R8 000
- Term
- 1–6 months
- Interest
- Up to 5%/mo capped
- Provider
- Boodle (Pty) Ltd
- Atlas Finance✓ Lender-confirmedNCRCP3994
- Amount
- R500 – R20 000
- Term
- 1–9 months
- Interest
- Up to 5%/mo capped
- Provider
- Atlas Finance
- Letsatsi Finance✓ Lender-confirmedNCRCP895
- Amount
- R500 – R7 000
- Term
- 1–6 months
- Interest
- Up to 5%/mo capped
- Provider
- Letsatsi Finance and Loan (Pty) Ltd
- DirectAxis✓ Lender-confirmedNCRCP20
- Amount
- R5 000 – R350 000
- Term
- 24–72 months
- Interest
- Annual, risk-based
- Provider
- FirstRand Bank Limited
- Wonga✓ Lender-confirmedNCRCP12875
- Amount
- Not disclosed
- Term
- Not disclosed
- Interest
- Up to 5%/mo capped
- Provider
- Wonga Online (Pty) Ltd
- Lime24✓ Lender-confirmedNCRCP8077
- Amount
- Not disclosed
- Term
- Not disclosed
- Interest
- Up to 5%/mo capped
- Provider
- Lime Loans South Africa (Pty) Ltd
- FinChoice✓ Lender-confirmedNCRCP8162 / NCRCP23514
- Amount
- Not disclosed
- Term
- Not disclosed
- Interest
- Up to 5%/mo capped
- Provider
- FinChoice Africa Ltd / FinChoice Finance (Pty) Ltd
- Barko✓ Lender-confirmedNCRCP1764
- Amount
- Not disclosed
- Term
- Not disclosed
- Interest
- Up to 5%/mo capped
- Provider
- Barko Financial Services (Pty) Ltd
- African BankSnapshot onlyNot disclosed
- Amount
- R2 000 – R350 000
- Term
- 7–72 months
- Interest
- Annual, risk-based
- Provider
- African Bank Limited
- NedbankSnapshot onlyNot disclosed
- Amount
- R2 000 – R400 000
- Term
- 6–84 months
- Interest
- Annual, risk-based
- Provider
- Nedbank Limited
- SanlamSnapshot onlyNot disclosed
- Amount
- R5 000 – R350 000
- Term
- 12–84 months
- Interest
- Annual, risk-based
- Provider
- Sanlam group entity
Every figure is transcribed from the provider’s own published material. Where a provider does not disclose something, this table says so rather than estimating it. Last checked 10 August 2026. ZarCash may earn a commission when you apply through a partner — it never changes this order. Affiliate disclosure
What it costs — work it out
Set the amount and the term and see the instalment and the total repayable, with every fee the National Credit Act allows and VAT included. An estimate at the legal maximum — not a quote, and not an offer.
Rates and fees use the NCA caps for short-term credit agreements: interest 5%/month (3% repeat), initiation fee R165 + 10% of the amount over R1 000 (max R1 050), service fee R60/month, VAT 15% on fees.
| Principal — what you receive | R3 000 |
|---|---|
| Interest (5%/mo × 3 months) | R450 |
| Initiation fee | R365 |
| Service fee (3 × R60) | R180 |
| VAT on fees (15%) | R82 |
| Total cost of credit | R1 077 |
Check these before you borrow — each can cost less
- Burial society and stokvel payouts — often faster than an insurer.
- Employer death benefits, which many people never claim.
- Credit life cover on the deceased’s existing loans.
- The funeral policy attached to a bank account or retail account.
Check these three things before you sign — here or anywhere
- The lender’s NCRCP number is published on its own site, and it checks out in the National Credit Regulator’s register.
- The pre-agreement quote breaks out the total cost of credit: interest, initiation fee, service fee and VAT — as one figure you can compare.
- Nobody asks you for an upfront “release fee”. A registered credit provider never charges you before it pays out.
What R5 000 over 3 months actually costs
At the NCA maximum for a first short-term loan (5% a month). An illustration, not a quote.
| Line | Amount |
|---|---|
| Amount borrowed | R5 000 |
| Interest (5% × 3 months) | R750 |
| Initiation fee | R565 |
| Service fee (R60 × 3) | R180 |
| VAT on fees (15%) | R112 |
| Total you repay | R6 607 |
| Monthly instalment | R2 202 |
Cost of credit: R1 607 on R5 000 borrowed. Figures are calculated at the statutory maximum — your own quote may be cheaper, and must be shown to you in full before you sign.
What makes this different from ordinary borrowing
Check every policy before you borrow. Funeral cover is frequently attached to a bank account, a retail account, a union membership, a burial society or an employer benefit — none of which announces itself when you need it. Ask the employer and the bank directly rather than assuming.
Credit life insurance on existing loans may also pay out on death, and a policy on the deceased’s life may cover more than a funeral parlour’s package. These take days rather than hours, which is where a short-term loan can legitimately bridge the gap — borrowed against a payout you have confirmed, not one you hope exists.
Be careful of funeral parlours that offer credit themselves. If the credit is provided by an unregistered entity, none of the National Credit Act’s protections apply, and grief is not the moment to be negotiating an agreement you have not read.
Related
Sources and last checked
- National Credit Act 34 of 2005 and its regulations — Government, as at 10 August 2026.
- National Credit Regulator — register of credit providers — Regulator, as at 10 August 2026.
Page last checked 10 August 2026. Statutory caps and lender terms change — confirm anything you intend to rely on with the provider or the National Credit Regulator. Found something wrong? Tell us and we will correct it.