How It Works

1) Benefits

  • With a bonus loan, you get some of your bonus now! It's a bridging loan on your bonus!
  • Simply pay the loan back on your bonus month as a once-off payment – nice and easy.
  • A bonus loan has no affect whatsoever on your monthly budget.

2) Who can apply for a bonus loan?

Government employees can apply for a bonus loan during any month, presuming it is 2 months (60 days) before their bonus month.

For any NON GOVERNMENT employees YOU hHAVE TO BONUS IN NOVEMBER OR DECEMBER of every year. This means you can apply during October presuming it is 2 months (60 days) before your bonus.

Below are the basic requirements you need to meet in order to qualify for a bonus loan:

3) Government employees

  • If employed for longer than 2 years, you may apply within 2 months (60 days) of your bonus month (birthday month)
  • As your bonus is equal to your gross salary we DO NOT need any further supporting documents

4) Year-end bonuses (Non government employees)

  • You must be receiving your bonus within the next 2 months (60 days)
  • You need to be contributing towards a provident, pension or retirement fund
  • You must be working at your current company for more than 2 years
  • You may not be under debt review/counselling or administration.

5) How to calculate your expected bonus amount

a) Government employees

You may use your gross salary amount on your payslip and apply for a maximum of 20%(or R5 000) thereof.

b) Year-end bonuses

You need to calculate 20% of your your expected bonus. If the result is between R2 000 – R5 000, you may apply for that amount. Maximum amount is R5 000.

The amount that you apply for may not exceed 20%(or R5 000) of your expected bonus. This is your bonus amount only and does not include your normal salary on the bonus date.

For example: If your salary is R15 000 and your bonus is R15 000, you must calculate 20% of R15 000 and not R30 000.This means you can apply for a maximum of R3000.

How to apply

  • Make sure that you meet the basic requirements under "Who may apply for a bonus loan?"
  • Simply click on the "Apply Now” button, answer the easy questions, choose "Continue" again at the bottom, choose your bonus date and amount, fill in the rest of the application form, attach your documents. As easy as that!
  • Once processed, if approved you will get an email requesting you to sign the attached loan agreement and debit order. These signed documents can then be returned back
  • If your application is declined, you will also receive an email with the reason.

For any assistance please contact us on +27 (0) 41 922 8843.