Boodle Loan Review 2023

boodle loan

Boodle loan is an emergency loan that provides loans that ranges between R100.00 to R8,000.00. Customers get to choose to repay the loan in 2 days or up to 6 months. . Boodle charges a service fee of R60.00 plus VAT, an initiation fee of R165.00 plus 10% of the loan amount plus VAT, and daily interest of 0.74%.

Loans of up to R4000.00 are available to first-time loan applicants. Individuals can borrow up to R8,000.00 from Boodle by obtaining additional loans. The loan amount R6,000.00 is the next step up from the lowest maximum loan amount. SmileRank, which represents how high your loan becomes over time, is responsible for the increase in loan amount.

The Boodle loan has more to offer, which is discussed further below.

Eligible applicants for Boodle Loans:

  • Have an Identity Document of the Republic of South Africa
  • Be over 18 years old
  • Have a South African bank account and access to the internet
  • Must have a regular income

Boodle Loan Application

1. Select your desired amount

Their website’s home page greets you with a unique loan calculator shaped like a smiley face, hence the name SmileDial button. The SmileDial button has two levers that you must slide in order to set the loan amount and the loan term. The interest on your loan is displayed just below the button as you slide the amount and time span levers. This informs you of the amount of interest Boodle will charge you before you proceed with the application.

2. Sign up an account

You should then create an online profile with your contacts and personal information. After about 5 minutes, you will receive your account verification email. Your pay stubs or bank statements should be included as part of the information you provide. Boodle conducts an income verification to determine your ability to meet the loan terms.

3. Credit checks

Boodle will run a quick credit check after you complete and confirm the online application. The more precise and accurate your information, the faster the credit check process.

If Boodle believes you are creditworthy, your loan application will be accepted and paid out in less than 10 minutes. However, if their system flags you as a risky person to lend money to, Boodle will present you with an offer that they believe is appropriate to lend to you. Your application will be rejected in the worst-case scenario.

4. Accept your quote

After you accept your quote, your Boodle loan will be deposited into your bank account within 10 minutes. If you choose not to have the process completed automatically, the manual route will take you about 2 hours, which is still a reasonable time frame.

Loan amount limits

You can get up to R4 000 in loan amounts as a new client. Returning customers with a track record of on-time payments are eligible for loans of up to R8 000. Boodle has five smiley ranks that can be adjusted for loan amounts.

As a new client, your only option is the first rank, with a maximum loan amount of R4 000. The better you manage your debt, the more ranks become available to you. When all smiley ranks are unlocked, the total amount is R8 000.

Repayment of the loan

To repay the loan, log into your account, click the “repay” button, and then follow the instructions. Otherwise, Boodle uses an automated system to collect the money on the due date.

Boodle loan fees

When you slide the SmileDial button during the application phase, the total cost of borrowing is calculated and displayed on the screen. The cost shown to you includes the total amount of interest and fees charged on the loan. Moreover, the cost is determined by the amount borrowed and the number of days you require the loan. Aside from these, you will not be charged any other fees.

Competitive advantages of the Boodle loan

  • The Boodle online lending platform is one of the fasted and easy loan application processes. The system is able to collect, assess and deposit the loan to your account in less than 10 minutes.
  • The application process is entirely paperless and there are no hassles since the platform is user friendly and there is a live chat should you wish to speak to their representatives before completing the application.
  • There is transparency. Boodle discloses all your borrowing costs before you even accept the quote.

Competitive Disadvantages of the Boodle loan

  • The interest and fees charged are higher compared to what a traditional bank would offer you
  • Boodle is a payday lender hence short repayment periods which will not allow you to breath before paying back the loan


Even though the cost of servicing a payday loan is prohibitively expensive, we all have times when we desperately need financial assistance. Taking out this type of loan will necessitate you honoring your loan obligations in order to maintain your credit score.



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