This loan calculator will help you determine an estimate on monthly repayments for various loan amounts
Please note: Every person gets charged a different rate depending on your credit rating and whether you are a low or high risk
Minimum amount that you can enter is R3,000 and the maximum is R300,000
Minimum Months is 12 months and the maximum is 72 months
NB: This calculator will only give you an estimated installment.The correct installment will only be available to you on signing of the contract and it can be lower or higher than the estimated installment.
Cost of Credit:
Cost of credit consists of Interest, monthly admin fee, initiation fee and credit life insurance
Loan terms and cost of credit:
• Loans terms - we offer -
3 month loans up to 72 month loans
• Loans Available R3,000 up to R300,000
• The Annual Interest Rate is a maximum of 28% as prescribed and governed by the NCA (National Credit Act, 2005) for unsecured loans with a repayment period of 12 months or more.
A representative example of this is:
On a loan of R15 000 over 15 months at a maximum interest rate of 28%, maximum fees of R69 pm, credit life fees, maximum initiation fee of R1 197 inclusive of VAT comes to a total cost of R22 717 which equals an APR of 68%.Which means that your monthly installment will be R1514.47
The interest rate will depend on the loan amount, loan term and credit profile of the applicant.