Loans from R500 to R18,000, repayable from 3 to 24 months. What you pay is capped by the National Credit Act: on short-term credit the interest is up to 5% per month on a first loan and 3% per month thereafter, while longer personal loans are offered from around 27.75% a year. A once-off initiation fee and a monthly service fee, both also capped by the Act, are charged on top. Representative example of a personal loan: R10,000 over 12 months at 27.75% a year is R963.84 a month, so the total repayable is R11,566.05. This is a service to find and compare loans and credit. The conditions depend on the financial company, product, amount and loan duration.
