Loan calculator
Work out your repayment and the total cost of a loan in rand. Every figure is checked against the legal caps under the National Credit Act.
Start calculatingShort-term credit transaction
One repayment
–
| Interest | – |
|---|---|
| Initiation fee (incl. VAT) | – |
| Service fees (incl. VAT) | – |
| Cost of credit | – |
| Total you repay | – |
An estimate, not a quote. Months: equal monthly instalments, with the initiation fee spread evenly. Days: one repayment at the end, with interest worked out per 30 days. Lenders may also add credit life insurance.
Lenders for R2,000
These providers state a range that covers the amount you entered. NCR-registered lenders come first, then loan-matching services, in our commercial order.
None of the providers we list states a range that covers this amount.
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The legal caps on loan costs
The National Credit Regulations set the most a registered lender may charge. Regulations 42 to 44 set these limits.
| Cost | Legal maximum |
|---|---|
| Interest, short-term loan (R8,000 or less, up to 6 months) | 5% a month on your first one in a calendar year; 3% a month on later ones |
| Interest, other unsecured loans | Repo rate + 21% a year: 28.25% with the repo rate at 7.25% (since 24 September 2026) |
| Initiation fee | R165 + 10% of the amount above R1,000, at most R1,050, and never more than 15% of the loan |
| Service fee | R60 a month |
| VAT | 15% is added to the initiation and service fees, so R60 becomes R69 |
Two examples at the caps. R2,000 over 30 days: at most R2,473.75 in total. R30,000 over 24 months: at most R1,769.79 a month and R42,475.00 in total.
Sources: Regulation 42, Regulation 43 and the South African Reserve Bank repo rate.
How the calculator works
- Enter the amount and how long you want to borrow for.
- Tell us if this is your first short-term loan this calendar year. It changes the cap from 3% to 5% a month.
- Keep "Use the legal maximums" ticked to see the most the loan can legally cost.
- Untick it to enter the rate and fees from a real quote. We flag anything above the cap.
- Compare the total you repay, not only the instalment. A longer term lowers the instalment but raises the total.
Struggling with repayments already? Speak to a registered debt counsellor before you borrow more. See our debt consolidation guide and responsible lending page.
Loan calculator: frequently asked questions
How do I calculate my loan repayment?
Enter the amount, the term and the interest rate in the calculator. It adds the initiation fee and the monthly service fee, with 15% VAT on both. For terms in months it uses equal monthly instalments. For terms in days it assumes one repayment at the end.
What is the most interest a lender can charge in South Africa?
On a short-term loan of R8,000 or less, repaid within 6 months, the cap is 5% a month on your first such loan in a calendar year. Later short-term loans that year are capped at 3% a month. Other unsecured loans are capped at the repo rate plus 21%, which is 28.25% a year from 24 September 2026.
What fees can be added to a loan?
An initiation fee of at most R165 plus 10% of the amount above R1,000. It can never be more than R1,050 or 15% of the loan. A service fee of at most R60 a month may also be charged. VAT is added to both fees.
Why is my quote different from the calculator?
Lenders work out interest daily and may add credit life insurance. Some charge interest on the initiation fee too. Your pre-agreement quote is the figure that counts, so compare it with the total shown here.
Is a lender charging more than these caps acting illegally?
A registered credit provider may not charge more than the caps in the National Credit Regulations. If a quote is higher, ask the lender to explain it. You can complain to the National Credit Regulator on 0860 627 627.