Online loan applications surge 226% as South Africans battle rising living costs

Online loan applications from over-indebted South Africans surged by 226% during May and June 2026, according to National Debt Advisors, as households faced a perfect storm of job losses, higher debt repayments, rising fuel and electricity costs, inflation and winter-related expenses. The data suggests that many consumers are increasingly relying on credit to cover basic needs such as food, transport and electricity.

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