Loan Repayment Calculator
Calculate your monthly repayment, total interest, and total cost of credit for any South African loan — free and instant.
Enter Loan Details
SA prime rate is currently ~11.75%. Personal loans: 18–29.25%
Enter your loan details
Fill in the amount, interest rate, and term, then click Calculate.
How is the loan repayment calculated?
This calculator uses the standard reducing-balance PMT formula used by South African banks and credit providers:
Monthly Payment = P × [r(1+r)ⁿ] / [(1+r)ⁿ − 1]
Where P is the principal loan amount, r is the monthly interest rate (annual rate ÷ 12), and n is the total number of monthly payments.
Note that actual loan costs from a South African lender will also include initiation fees (capped at R1,207.50 under the NCA), a monthly service fee (up to R69), and optional credit life insurance premiums.
What interest rates apply in South Africa?
The maximum prescribed interest rate under the National Credit Act (NCA) for unsecured personal loans is prime × 2.2 + 10% per year. At a prime of 11.75%, this gives a maximum of approximately 35.85% p.a. Business loans may have different terms negotiated directly with the lender.
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Rates are indicative and subject to change without notice. Finance EzyFind is a free comparison and matching service — not a lender or credit provider. All lending is subject to the National Credit Act (NCA). Please borrow responsibly.
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