Quick Facts About Hippo

• Hippo is a comparison website, NOT a direct lender
• Using Hippo.co.za is 100% free – no charges to you
• Compare loans from R500 to R350,000
• Founded in 2007 – operating for 18 years
• FSP registered: FSP 16357

What Is Hippo Loans?

Very Important: Hippo is NOT a loan company. Hippo does not give you money.

Hippo.co.za is a comparison website. Think of it like a shopping mall for loans.

Instead of visiting 10 different banks, you tell Hippo what you need. Hippo then shows you loan offers from many lenders at once.

What Hippo Does

Hippo connects you with loan companies. You apply once. Multiple lenders see your information and offer you loans.

You then choose which loan suits you best.

What Hippo Does NOT Do

Hippo does NOT:

• Give you money directly
• Approve or reject your loan
• Decide your interest rate
• Collect loan repayments

How Hippo Works

Understanding how Hippo makes money helps you use it safely.

Is Hippo Free to Use?

Yes, completely free. You never pay Hippo anything.

Hippo makes money from the loan companies. When you choose a lender through Hippo, that lender pays Hippo a commission.

This commission does NOT increase your costs. You pay the same price as going directly to the lender.

The Process Step-by-Step

Requirements to Use Hippo and Get a Loan

To compare loans on Hippo, you need:

Basic Requirements

Requirement	Details
Age	18 years or older
Citizenship	South African citizen only
Employment	Must have regular income (employed or self-employed)
Bank Account	Valid South African bank account in your name
ID Document	Valid green barcoded SA ID

Documents You Need

When applying through Hippo (for lenders to review), prepare:

• Copy of your SA ID (both sides)
• Proof of residence (not older than 3 months)
• Latest payslip
• Last 3 months’ bank statements

Who Can Use Hippo?

Anyone can browse Hippo. You don’t need documents just to look at quotes.

You only need documents when you click “I’m interested” and the lender contacts you.

✅ Step-by-Step: How to Use Hippo Safely

Before You Start

Know how much you need and can afford to repay monthly.

Step 1: Visit the Official Website

ONLY use: www.hippo.co.za

Do NOT click on loan offers from SMS, email, or social media. Type the address yourself.

Step 2: Fill in the Form

Hippo will ask for:

• Your ID number
• How much you want to borrow
• Your monthly income
• Your contact details

Step 3: Review Your Loan Offers

You’ll see a list of offers. Each shows:

• Lender name
• Loan amount offered
• Interest rate
• Monthly repayment
• Loan term (how many months)

Step 4: Compare the Offers Carefully

Don’t just look at the monthly payment. Check:

What to Check	Why It Matters
Total Amount to Repay	Lower monthly payment might mean you pay MORE in total
Interest Rate	Lower rate = less money wasted on interest
Loan Term	Longer term = lower monthly payment BUT more interest total
Initiation Fee	One-time fee when loan starts (usually R1,000-R1,500)

Step 5: Check the Lender is NCR Registered

Before clicking “I’m interested”, verify the lender:

Step 6: Click “I’m Interested”

When you find the best offer, click the button. Hippo will send your details to that lender.

Step 7: Wait for the Lender to Contact You

The loan company will phone you within 24-48 hours. They will:

• Confirm your details
• Request documents
• Do a credit check
• Tell you if you’re approved

Step 8: Read Everything Before Signing

When the lender sends you the contract:

• Read EVERY page
• Check the total amount to repay
• Confirm the interest rate matches what you saw
• Look for any hidden fees
• Ask questions if anything is unclear

Costs, Interest Rates, and What You’ll Pay

Is Hippo Free?

Yes. Using Hippo costs R0.

You pay nothing to compare loans. You pay nothing to get quotes. You pay nothing to Hippo ever.

What You Pay the Lender

When you take a loan from one of Hippo’s partners, you pay normal loan costs:

Fee Type	Typical Cost	When You Pay
Initiation Fee	R1,000 – R1,500	Once, when loan starts
Monthly Service Fee	R50 – R80	Every month
Interest	Varies (see below)	Included in monthly payment

Personal Loan Interest Rates in South Africa (2025)

Your interest rate depends on:

• Your credit score (higher score = lower rate)
• Your income
• Loan amount
• Repayment period

Real Example: What a R20,000 Loan Costs

Loan Amounts Available Through Hippo

Loan Type	Amount Range
Small Personal Loans	R500 – R5,000
Medium Personal Loans	R5,000 – R50,000
Large Personal Loans	R50,000 – R350,000

Remember: The amount you qualify for depends on your income and credit score.

🚨 CRITICAL: Scam Warnings for Loan Seekers

Common Loan Scams in South Africa (2025)

Red Flags: How to Spot a Loan Scam

Red Flag	What It Means
Asks for upfront payment	100% SCAM – legitimate lenders deduct fees from loan amount
No NCR registration number	Illegal operation – avoid completely
Contact via SMS/WhatsApp only	Legitimate lenders have offices and landlines
Pressure to decide quickly	Scammers rush you so you don’t think
Email address from Gmail/Outlook	Real companies have @companyname.co.za emails
Asks for your banking PIN/password	NO ONE needs your PIN. This is identity theft.

What to Do If You’ve Been Scammed

Your Consumer Rights and How to Complain

South African law protects you when taking loans. Know your rights.

National Credit Act (NCA) Protects You

What Lenders Must Do

By law, every registered lender must:

• Be registered with the National Credit Regulator
• Display their NCR number on all documents
• Do an affordability assessment (check if you can repay)
• Give you a written contract
• Explain all costs in plain language
• Not practice reckless lending

Maximum Interest Rates (2025)

Loan Type	Maximum Interest Per Year
Mortgage (home loans)	19.5%
Credit facilities	21.5%
Other credit agreements	24.5%
Unsecured personal loans	28.5%

Important: If a lender charges MORE than 28.5% on an unsecured personal loan, they are breaking the law.

How to Check Your Credit Score

You are entitled to ONE free credit report per year from each credit bureau:

Credit Bureau	Contact
TransUnion	0861 886 466
Experian	0861 105 665
XDS	0860 937 000
Compuscan	0861 514 131

Where to Complain About Loan Problems

Alternatives to Using Hippo for Loan Comparison

Hippo is not your only option. Here are other ways to find and compare loans:

Option 1: Apply Directly to Banks

Major Banks That Offer Personal Loans:

• Capitec Bank: 0860 102 043
• African Bank: 0860 020 600
• Standard Bank: 0860 123 000
• FNB: 087 575 9405
• ABSA: 0860 008 600
• Nedbank: 0860 555 111

Option 2: Other Comparison Websites

Website	What They Offer
FinCheck.co.za	Personal loans, debt review, credit cards
JustMoney.co.za	Personal loans, balance transfers, financial education
LoanFinder.co.za	Personal loans comparison

Option 3: Credit Unions and Stokvels

For smaller amounts (R500 – R5,000), consider:

• Stokvels: Traditional savings clubs (no interest charged)
• Burial societies: May offer small loans to members
• Employer loans: Ask your HR department about salary advances

Option 4: Avoid Loans (Best Option!)

Hippo.co.za is a legitimate comparison tool that can save you time when looking for loans. It’s free to use and registered with the FSCA.

However, comparison is just the first step. You still need to:

• Verify every lender’s NCR registration
• Read all contracts carefully
• Calculate total costs, not just monthly payments
• Never pay money upfront
• Know your consumer rights

Remember: Hippo shows you options. YOU make the final decision. Choose wisely.

Most importantly: Only borrow what you can afford to repay. A loan that saves you today can ruin you tomorrow if you can’t pay it back.

Have questions? Need help? Contact the National Credit Regulator at 0860 627 627 for free, independent advice.