Boodle Support - Understanding Boodle lingo


Boodle lingo

We try our best to steer away from complicated financial jargon, but if there are any of the terms we use that you don’t understand, you’re likely to find an explanation here. If, after reading this section, you’re still in doubt about what something means feel free to email us on or call us on 0861 BOODLE (266 353).

  • Active Status

    If your Boodle loan status reads Active, it means that your application was successful and that your Boodle loan has been paid into your bank account.

  • Additional Income

    This is any income that is not monthly and you don’t anticipate. It could be anything from an incentive bonus to that extra bit of money you make from a hobby of yours. Every little bit helps!

  • Application Date

    This is the date that you started applying for your Boodle Loan.

  • Approved Status

    If your Boodle Loan status reads Approved, it means that your Boodle is on its way to your bank account. As soon as the money lands in your account, we will send you a SMS and an email to let you know that your Boodle has arrived safe and sound.

  • Boodle SmileDial

    The Boodle SmileDial has been designed to put you in control. You choose how much Boodle you want to borrow and for how long (maximum of 32 days). You can also calculate all interest for the chosen duration and fees upfront so that you know exactly how much your Repayment Amount is from the word go!

  • Boodle SmileRank®

    As a new customer we’ll let you take a cash loan of up to R3 000. Pay back your loan on time, we’ll reward you and up your SmileRank®. As a result, we’ll increase the amount we’re happy to loan you. Your Boodle SmileRank® is made up of smiles: one smile allows you to borrow R2 500, but build up your ranking to five smiles and we’ll grant a Boodle loan of up to R8 000. 

  • Cancelled status

    If your Boodle Loan status reads cancelled, it means that for some reason, you have changed your mind and decided not to complete your Boodle loan application. If you opted out because of unanswered questions, please visit our FAQ section, call us on 0861 BOODLE (266 353) or email us at

  • Closed status

    If your Boodle loan status reads closed, it means that you have paid back your Boodle loan in full. It also means that having repaid your Boodle loan on time, which has a positive effect on your SmileRank®.

  • Credit Bureau

    A credit bureau is a company that collects information from various sources on your debt obligations, borrowing and debt paying habits. It then provides this information to organisations that require it to make certain decisions.

  • Credit profile

    Your credit profile details your credit history. It lists what types of credit you use and your debt obligations, how long your accounts have been open, and whether you pay your bills on time.

  • Credit status

    Your credit status is what we check when you apply for a loan. It tells us whether you are blacklisted, a risk, or if you excel when it comes to paying back money.

  • Debt obligations

    Your debt obligations are the total value of your monthly financial obligations to credit providers i.e. your clothing accounts, credit cards.

  • Declined status

    If your Boodle loan status reads declined, it means that your Boodle loan application was unsuccessful. However, you are more than welcome to reapply in 30 days time.

  • Incomplete status

    If your Boodle loan status reads incomplete, it means that you have not completed your Boodle loan application. You’ll need to go back and complete it if you still want to take a Boodle loan.  

  • Interest and Fees

    All interest and fees on your Boodle Loan are calculated based on the Regulations set out in Chapter 5 of the National Credit Act 34 of 2005.

    Here are the facts:

    Service Fee: 
    R60 per month plus 15% VAT

    Initiation Fee:
    R165 plus 10% on the loan value above R1 000.00 plus 15% VAT. Fee capped at 15% of the loan value plus 15% VAT.

    Interest Rate: 
    0.17% per day

    Annual Interest Rate / APR:

    A Pre-Agreement Statement and Quotation will be generated if your Loan application has been approved and will set out the details in respect of interest and fees in relation to the value of loan and duration of loan requested.

  • Loan Amount

    This is the amount of money you would like to borrow. As a first time borrower, you will be able to borrow from R100 up to R3 000. When taking out your second Boodle loan, you may be able to borrow as much as R8 000 depending on your Boodle SmileRank®.

  • Loan Number

    For every single loan you apply for, we issue you with a unique Loan Number. This number is very important as it enables us to identify your loan with ease. When calling us on 0861 BOODLE (266 353), please have your Loan Number handy so that you can easily refer to it.

  • Loan Term

    This is the duration of your Boodle loan as selected by you. The minimum you can take out a Boodle loan for is 1 day. The maximum you can take out a Boodle Loan for is 32 days.

  • MFSA

    Micro Finance South Africa (MFSA) is a representative body of registered and legal micro finance credit providers in South Africa.

  • Monthly Expenses

    This refers to total monthly living expenses. These are expenses that you are responsible for on a monthly basis and include things like rent, groceries, school fees, your gautrain tickets i.e. all expenses that YOU are responsible for excluding monthly repayments to credit providers.

  • Monthly Income

    This amount is your average total monthly income earned for the past 3 months from the date on which you make your application. This includes all commission, overtime and any other income earned less statutory (tax, UIF etc) deductions.  In a nutshell, this is the amount that is deposited into your bank account on a monthly basis.

  • NCR

    The National Credit Regulator (NCR) was established as the regulator under the National Credit Act 34 of 2005 (the Act) and is responsible for the regulation of the South African credit industry.

  • OTP

    Your OTP is your Boodle Pin.

    For your security, we’ll send you a one-time pin every time you update your profile or apply for a Boodle Loan.

  • Overdue status

    If your Boodle Loan status reads overdue it means that your Boodle loan is in arrears. It also means that you would have spoken to our collections department and arranged a part payment and extension in order to assist you in repaying your Boodle Loan in full ASAP.

  • Pending Status

    This means that we are in the process of finalising your Boodle Loan application.

  • Quotation

    Once you have completed the Boodle Application and confirmed how much you would like to borrow and for how long, we will present you with an official Quotation (Also knows as a Pre-agreement, Statement and Quotation). The Quotation is binding document that presents you with your Boodle Loan in detail for your acceptance. Your Quotation is valid for 5 working days, which means that you have 5 working days to accept your Boodle Quotation. Once expired, you would need to go through the application process again and reapply.

  • Repayment Amount

    This is the total amount you will need to pay on the Repayment Date selected by you and includes all interest and fees up until that date.

  • Repayment Date

    This is the date that you select to repay your Boodle Loan. On this date, we will deduct the Repayment Amount from your bank account via Debit Order. This date however cannot be a Sunday or a Public Holiday,

    Note that the Debit Order will run in the early hours of the morning on this date, so please make sure you have the available funds in order for your repayment to be successful and avoid unnecessary bank charges.

  • Short-Term Loan

    A Short-Term Loan is borrowed money (to a maximum of R8 000) that needs to be paid back over no more than 6 months. A Boodle Loan is an example of a Short-Term Loan as it has a maximum duration of 32 days.

  • Start Date

    This is the date that your Boodle was paid into your bank account and the official start date of your Boodle Loan.

  • Unsecured loans

    A Boodle Loan is an unsecured loan. An unsecured loan is a loan that doesn’t need any of your personal assets or a third party as surety for repayment. Remember that non-payment of your loan still has implications, it will negatively affect your Credit Profile as well as your Boodle SmileRank® and you may be blacklisted at the Credit Bureau.