Getting a loan without a payslip

You can still apply without a payslip if you can prove a regular income another way. Most lenders will accept 3 to 6 months of bank statements showing consistent deposits, and self-employed applicants can add a SARS assessment, invoices or a contract. What lenders cannot do is lend without any proof of income — that would be reckless lending under the National Credit Act.

What lenders check

• Regular deposits on your bank statements
• How stable your income has been over several months
• Your existing debt repayments

Documents you'll need

• ID document
• 3 to 6 months' bank statements
• SARS ITA34 assessment or tax return (self-employed)
• Contract, invoices or a letter from your client/employer
• Proof of address

Watch out for

• Be wary of lenders that ask for no documents at all.
• Cash income that never goes through a bank is very hard to prove — start depositing it.
• Smaller amounts are more likely to be approved first.

Will bank statements alone be enough?

For smaller loans, often yes, if they show regular income for at least three months.

Can freelancers get a loan?

Yes. Show consistent income, ideally with tax returns and client invoices.

Is income from side jobs counted?

If it arrives regularly in your account, most lenders will consider it.

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