Loans from R500 to R18,000, repayable from 1 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 26.5% 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 short-term loan: R2,800 repaid over 27 days attracts interest and fees of R607.63, so the total repayable is R3,407.63. Representative example of a personal loan: R10,000 over 12 months at 26.5% a year is R957.74 a month, so the total repayable is R11,492.88. This is a service to find and compare loans and credit. The conditions depend on the financial company, product, amount and loan duration.
