Loans up to R125,000, repayable over 12, 24 or 36 months.
Interest rates from 28% to 28.25% a year, capped by the National Credit Act. In addition to interest, you pay a once-off initiation fee and a monthly service fee, both also capped by the Act. Some lenders also require credit life insurance. Because of these extra costs, the total you repay will be more than the interest alone.
This is a service to find and compare loans and credit. The final conditions of your loan will depend on the financial company, the product, the amount and the loan duration.
Representative example: for a loan of R50,000 over 36 months at an interest rate of 28.25% a year, with a once-off initiation fee of R1,207.50 added to the loan amount and a monthly service fee of R69 included in the instalment, the monthly instalment is R2,194.05 and the total amount repayable is R78,985.80, of which R28,985.80 is the total cost of credit.
