Quick Facts

• Dola Money: Anyone with fixed salary can apply (R5,500+ per month)
• Kaelo Money: Only for employees of partner companies
• Both are registered credit providers
• Both offer fast approval and payment

Quick Overview: What Are These Services?

Dola Money

Dola Money is an online loan company. They give short-term loans to anyone with a fixed salary. You apply online and get money fast if approved. They have been operating since 2013.

Kaelo Money

Kaelo Money is part of the Kaelo Lifestyle programme. It offers emergency loans and early salary access. But you can only use it if your employer has signed up for this benefit. It is not available to everyone.

Main Differences at a Glance

Loan Amounts & Repayment Terms

Dola Money

• New clients: R1,000 to R3,000
• Existing clients: Up to R5,000 (after repaying 3 loans of R3,000)
• Repayment period: 61 to 180 days (2 to 6 months)
• Interest for new clients: 5% per month
• Interest for existing clients: 3% per month

Kaelo Money

• Emergency Wallet: R1,000 to R15,000
• Maximum amount: Up to 45% of your gross monthly salary
• Repayment period: Up to 3 months
• Interest rate: 18% per year (about 1.5% per month)
• Earned Wage Access: Get part of your earned salary early (no interest)

⚠️ All Fees & Costs Explained

Dola Money Fees

• Initiation fee: 15% on first R1,000, then 10% on amount above R1,000 (maximum R1,000 + 15% VAT)
• Monthly service fee: R69 plus 15% VAT (about R79.35)
• Interest: 0.17% per day (maximum 5% per month)
• Early repayment: No penalty – you can pay back early for free

Kaelo Money Fees

• Registration: Free to register
• Interest rate: 18% per year on loans
• Fees: Depend on your reward status (Bronze, Silver, or Gold)
• Rewards programme: Earn points to reduce fees
• Earned Wage Access: Small fee (reduced with rewards points)

Example Cost Comparison

If you borrow R1,000 for 1 month:

Who Can Apply? Requirements Explained

Dola Money Requirements

• Age: 18 to 65 years old
• Valid South African ID or passport
• Personal bank account (not joint or business account)
• Bank must be: Capitec, FNB, ABSA, Nedbank, Standard Bank, TymeBank, or African Bank
• Fixed monthly salary: At least R5,500
• Salary must be paid on roughly the same date each month
• NOT self-employed
• NOT under debt review
• No recent unpaid debit orders

Kaelo Money Requirements

• Most important: Your employer must be a Kaelo Lifestyle partner
• South African ID
• Age: 18 years or older
• Active cellphone number
• Valid South African bank account
• Last 3 months’ bank statements
• Proof of employment
• Online banking access for verification
• Minimum credit score: 620

How to Apply

Dola Money Application (5 Steps)

1. Visit website: Go to www.dola.co.za
2. Choose loan amount: Select how much you need (R1,000 – R3,000 for first loan)
3. Choose repayment term: Pick 1-6 months
4. Fill in details: Provide your ID, bank details, and salary information
5. Wait for DebiCheck: Your bank will send you a USSD message to confirm. You have 2 minutes to reply!

Money arrives: Within 10 minutes after DebiCheck confirmation (during banking hours 8am-8pm)

Kaelo Money Application (4 Steps)

1. Check eligibility: Ask your HR department if your company offers Kaelo Money
2. Register: If available, complete registration form (you will receive SMS and email invitation)
3. Upload documents: ID, proof of address, and bank statements
4. Apply for loan: Once registered, you can apply for Emergency Wallet or Earned Wage Access

Money arrives: Usually within 1 hour of approval (can be paid to bank or collected at Standard Bank ATM)

✅ Advantages & Disadvantages

Dola Money

Advantages:

• Available to anyone with fixed salary (not just partner companies)
• Very fast approval and payment (10 minutes)
• Clear costs shown upfront – no hidden fees
• No penalty for early repayment
• Simple application – only asks necessary information
• Operates 7 days a week, 8am-8pm
• Operating since 2013 – established company

Disadvantages:

• Higher interest rates (3-5% per month)
• Lower maximum loan amount (R5,000)
• Monthly service fee of R79.35
• Not available for self-employed people
• Minimum salary requirement of R5,500
• Only one active loan at a time
• Must have account at specific banks only

Kaelo Money

Advantages:

• Much lower interest rates (1.5% per month)
• Higher loan amounts available (up to R15,000)
• Earned Wage Access option (get paid early with no interest)
• Rewards programme to reduce fees
• Free financial coaching and wellness tools
• Access to marketplace with discounted essentials
• Can also use for savings with interest
• Includes counselling and legal advice services

Disadvantages:

• Only available if your employer signed up (biggest limitation)
• Cannot apply on your own
• Loan amount based on salary – lower earners get less
• Need minimum credit score of 620
• Shorter maximum repayment period (3 months vs 6 months)
• Missing payments affects your credit record

🚨 Important Warnings

Watch Out for Scams!

• Never pay upfront fees to get a loan. Both Dola Money and Kaelo Money do NOT ask for money before approving your loan
• Only apply on official websites: www.dola.co.za and www.kaelo.co.za
• Be careful of fake SMS messages claiming to be from these companies
• No legitimate lender will guarantee approval without checking your details first
• Report scams to SAFPS at 083 123 7226

Before You Borrow

• Only borrow what you really need
• Make sure you can afford the monthly repayments
• Read all costs before you agree to the loan
• Never take a loan to pay another loan
• Missing payments will damage your credit record

Check Registration

Both companies are registered with the National Credit Regulator (NCR):

• Dola Money: NCRCP14262
• Kaelo Money: NCRCP10398
• You can verify at www.ncr.org.za

Which Loan Should You Choose?

✅ Choose Kaelo Money If:

• Your employer offers it as a benefit (ask your HR department)
• You want the lowest interest rates
• You need a higher loan amount (up to R15,000)
• You want access to financial coaching and wellness tools
• You like earning rewards to reduce fees
• You have a credit score of 620 or higher

✅ Choose Dola Money If:

• Your employer does NOT offer Kaelo Money
• You need money very urgently (10-minute payout)
• You earn at least R5,500 per month with fixed salary
• You want a simple, straightforward application
• You need longer repayment period (up to 6 months)
• You want the option to pay back early with no penalty

Other Options to Consider

Before taking any loan, also consider these alternatives:

• Stokvels: Traditional savings clubs – no interest charged
• Ask family or friends: Often cheaper than formal loans
• Sell unused items: Quick way to raise cash without debt
• Bank overdraft: If you have good relationship with your bank
• African Bank: Offers personal loans with competitive rates
• Capitec Credit: Available to Capitec bank clients
• Delay the expense: If possible, wait until next payday

For free debt counselling, contact:

• National Credit Regulator: 0860 627 627
• National Debt Mediation Association: www.ndma.org.za

Contact Information

Dola Money

• Website: www.dola.co.za
• Registration: NCRCP14262
• Operating hours: 8am-8pm, 7 days a week

Kaelo Money

• Website: www.kaelo.co.za
• Email: support@kaelomoney.co.za
• Registration: NCRCP10398
• Address: 2nd Floor, East Wing, The Oval, Wanderers Office Park, 52 Corlett Drive, Illovo, 2196

For Complaints

• National Credit Regulator: 0860 627 627
• Financial Sector Conduct Authority (FSCA): 0800 110 443
• National Consumer Commission: 0860 003 600

Both Dola Money and Kaelo Money are registered credit providers that offer legitimate services. The best choice depends on your specific situation.

If your employer offers Kaelo Money: This is usually the better option. The interest rates are much lower (1.5% vs 5% per month), and you get extra benefits like financial coaching and a rewards programme.

If you don’t have access to Kaelo Money: Dola Money is a good alternative for emergency situations. The application is simple, approval is fast, and costs are transparent. Just remember the interest is higher.

Important reminders:

• Only borrow what you absolutely need
• Make sure you can afford the repayments
• Read all the costs before agreeing
• Never take a loan to pay another loan
• Consider free alternatives first (family, stokvels, selling items)

Remember: Short-term loans should only be used for genuine emergencies, not for regular expenses. Work on building an emergency savings fund so you don’t need to borrow in the future.