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See what a loan could cost you each month and in total, in Rand. Figures use the maximum charges allowed under the National Credit Act, so your real offer may be lower.
The legal cap is 5% a month on a first loan and 3% a month on later loans in the same year.
Set to the legal maximum. If a lender quotes you a lower rate, move the slider to match.
An estimate only. It assumes equal monthly instalments, interest charged on the amount borrowed and the initiation fee spread across the term. Your lender’s quote will show the exact figures.
The National Credit Act sets a ceiling on what lenders can charge. This calculator uses those ceilings so you can see the most a loan could cost:
| Short-term loan | Personal loan (unsecured) | |
|---|---|---|
| Amount and term | Up to R8,000, repaid within 6 months | Larger amounts over longer terms |
| Maximum interest | 5% a month (first loan in a year), 3% a month after that | Repo rate plus 21% a year, currently |
| Maximum initiation fee | R165 plus 10% of the amount above R1,000, up to R1,050 | |
| Maximum service fee | R60 a month | |
Many lenders charge less than the maximum. Before you sign, your lender must give you a quote showing every charge. Not sure the repayment fits? Try our budget planner, or read the loan guide for more on how short-term loans work.
Based on NCA regulations and a repo rate of 7.25% (October 2026). Fees may be subject to VAT. Instant Loans SA is a credit broker, not a lender.