Last updated 22 September 2026 · Built by Kgothatso Moleke · A guide, not a quote
Before you sign for a loan, see what it actually costs. Enter the amount, the rate you have been quoted and the term, and this shows the monthly repayment, the total you would hand over, and how much of that is interest rather than the money you borrowed.
You would repay
R0
every month
Total you repay
R0
Interest and fees
R0
Cost per R100 borrowed
R0
How this is worked out
- Standard amortising loan: every payment covers the month’s interest first, and the rest reduces what you owe.
- The monthly service fee is added to each payment and counted in the total cost, because you pay it either way.
- Not included: initiation fees (often added to the loan at the start, so you pay interest on them too), credit life insurance, or any once-off charges.
- Assumes a fixed rate. On a linked or variable rate your repayment changes whenever prime moves.
- The National Credit Act caps what registered lenders may charge, and the cap differs by loan type. A quote well above what you see elsewhere is worth questioning.
The number that matters is the total, not the monthly
Lenders advertise the monthly repayment, because it is the smallest, friendliest number available. Stretching a loan over a longer term always makes that number look better, and always makes the loan cost more.
Try it above. Put in a loan amount and rate, then move the term from 24 months to 60. The monthly payment drops. The total cost climbs. That is the whole trick, and it is why “how much a month?” is the wrong first question.