Finpug

Verdict: Finpug is handy for browsing: pick an amount and see which lenders advertise it, including some promotional first loans. It is a starting point, not an adviser. The rate, the fees and the yes-or-no all come from the lender you click through to, so compare at least two quotations before you sign.

Strengths

• Shows larger amounts than most catalogues — up to R50 000
• Choose a preset amount or type your own
• No fee and no obligation
• Lists promotional first-loan offers in one place

Weaknesses

• Not a lender: it cannot approve you or set your rate
• Its "0 R" and "0.01% per day" examples describe promotions, not typical costs
• Operator abroad with no local helpline
• Takes no responsibility for the lenders it lists

Reading the promotional figures

Finpug's example of R1 000 over 67 days costing R0 and the headline "from 0.01% per day" refer to introductory first loans some lenders offer. Regular short-term loans in South Africa add an initiation fee and a monthly service fee to the interest — for instance, LendPlus' published R1 000-over-90-days example totals R1 331. Treat a free first loan as a one-off, not the price of borrowing.

When to use something else

• If you know the lender you want, go to it directly.
• For R20 000 and more over several years, a comparison service that submits one application to many lenders, such as Arcadia Finance, saves time.