Tools
Loan Repayment Calculator
Calculate your monthly repayment on any loan — personal, business, furniture, or payday. Enter the loan amount, interest rate, and term to get your full breakdown.
Your Results
Monthly Repayment
R0
This is an estimate based on a standard amortising loan. Actual repayments may vary depending on your lender's fees, admin charges, and credit profile. Always read the full loan agreement before signing.
Types of Loans in South Africa
Personal loans are the most common — offered by banks and lenders like African Bank, Capitec, FNB, Nedbank, and Standard Bank. Interest rates typically range from 15% to 29.25% (the legal maximum under the National Credit Act) depending on your credit score.
Furniture loans through retailers like Lewis, JD Group, and others often carry higher rates. Payday loans are short-term, high-interest loans meant to bridge you to your next salary — they should only be used in emergencies due to their cost.
The National Credit Act & Maximum Rates
South Africa's National Credit Act caps the interest rate lenders can charge. For personal loans, the maximum is the repo rate plus 21% — currently around 29.25% per year. Always check that your lender is registered with the National Credit Regulator (NCR).
Tips to Reduce Your Loan Cost
- Borrow only what you need — the less you borrow, the less interest you pay.
- Choose the shortest repayment term you can afford — it dramatically reduces total interest.
- Shop around — different lenders offer very different rates based on your credit profile.
- Improve your credit score before applying — a better score means a lower interest rate.
- Make extra payments when you can — most lenders allow early settlement without penalties.