Before you take out any loan, its a good idea to understand how much it will cost and especially how much your monthly loan repayments will be! Please us our handy loan calculator below to to help you work out how long it will take to pay it off or how much you’ll need to repay each month. You can also compare different loan rates and lengths and find the balance that works best for you!
This calculator is for illustrative purposes only and exact payments terms should be agreed with a lender before taking out a loan. Please ignore the $ signs – we’re working on a local version, please bear with us;)
How To Use The Loan Calculator
We tried to keep it quick and simple, so you conly have to fill out 3 fields in our loan calculator to get the results you need!
Determine how much you will pay each month on different size loans with different interest rates by filling in the boxes above.
Loan Amount: The total amount, in Rands, that you wish to borrow, i.e. for R 10 000 enter 10000.
Length of Loan (in Months): The period you want the loan repayments to go over. You can enter decimals here, i.e. for 2 weeks – or half a month – enter 0.5.
APR: APR stands for annual percentage rate, and is essentially the interest rate of your loan. Make sure you enter the annual rate here – a lot of payday loan providers don’t quote this (i.e. they quote a per day rate). Enter the rate as percentage, i.e. for 5% enter 5.
We hope you found the above calculator useful – once you know what loan you can afford, why not check out our list of top short term loan providers in South Africa and get up R15 000 in minutes!