Loan Repayment Calculator (South Africa)
Work out your monthly instalment and the true total cost of a loan — including the NCA initiation fee and monthly service fee most calculators leave out.
Illustrative estimate only — actual pricing is set by the credit provider in your quote, within National Credit Act limits. Credit life insurance (if required) is not included.
Happy with the numbers?
Get matched with NCR-registered lenders — free, in 2 minutes.
How this calculator works
For short-term loans (R8 000 or less, up to 6 months) we use simple monthly interest as capped by the NCA — 5% per month on a first loan, 3% on repeat loans in the same year. For personal loans we use the standard amortisation formula with your annual rate compounded monthly — the same method banks use for instalment quotes.
When "Include NCA fees" is on, we add the once-off initiation fee (R165 + 10% of the amount above R1 000, capped at R1 050) financed into the loan, plus the monthly service fee of R69 (R60 + VAT).
Understanding your result
- Monthly instalment — what leaves your account each month.
- Total repayment — instalment × months: everything you'll pay back.
- Total cost of credit — total repayment minus the amount you borrowed: the real price of the loan. Comparing this number across offers is the smartest way to choose.
Before you apply, also check how much you can afford and read up on the legal maximums lenders may charge.
Worked example
Say you borrow R5 000 over 12 months on a personal-loan rate of 28% per year, with NCA fees included:
- Initiation fee: R165 + 10% of R4 000 = R565 (financed into the loan)
- Monthly service fee: R69 × 12
- Estimated monthly instalment: ≈ R610
- Total repayment: ≈ R7 320 — a total cost of credit of about R2 320 on your R5 000.
Change the amount, term or rate above to see how each one moves your instalment. As a rule: a longer term lowers the monthly payment but raises the total cost, while a shorter term does the opposite.
Frequently asked questions
Is this loan calculator accurate?
It gives a close estimate using the same methods lenders use — simple monthly interest for short-term loans and standard amortisation for personal loans, plus NCA initiation and service fees. Your actual quote is set by the lender and may differ slightly based on your credit profile and credit life insurance.
Does the calculator include all fees?
It includes the once-off initiation fee and the monthly service fee (R69 incl. VAT). It does not include optional credit life insurance, which some lenders require — that is disclosed in your pre-agreement quote.
What is "total cost of credit"?
It's the total you repay minus the amount you borrowed — in other words, the real price of the loan. Comparing this single number across offers is the smartest way to find the cheapest loan.