Apply for a loan online in South Africa
See all 9 lendersHighest amount on the list: up to R8 000
- Amount
- up to R8 000from R500
See terms
- Source of the terms
- kredio.co.za · 27 Oct 2026
- Registration
- NCRCP24149 · NCR register
- Application and payout
- decision in 15 min or less · applications 24/7, according to the lender
- Amount
- up to R5 000from R500
- Term
- up to 61 daysfrom 7 days
See terms
- Source of the terms
- creditbar.co.za · 25 Oct 2026
- Registration
- NCRCP23238 · NCR register
- Application and payout
- applications 24/7, according to the lender
JabulaniMoney
How we work out the cost
The National Credit Act does not set one annual rate for the full cost of a loan. Section 101 lists what a lender may charge: the initiation fee, a monthly service fee, interest, credit insurance, and default and collection costs. To compare loans of different lengths, we turn the total you pay into an APR. The APR is the annual rate X at which what you receive (C) and what you pay back (D) balance, with the times t and s in years. It is the standard formula, the same one the EU uses for consumer credit:
∑ Ck(1+X)−tk = ∑ Dl(1+X)−sl
We count a year as 365 days, 52 weeks or 12 months, and show the result to one decimal place.
We assume you receive the whole amount on day one and that the interest and fees are paid with the loan: in the single payment, or split equally between the instalments. If a fee is taken off the amount you receive, your real APR is higher than the one shown here.
Before you sign, the lender must give you a pre-agreement statement and quotation (section 92 of the Act). It shows the interest rate, every fee and the total you will repay. Use those figures in this calculator.
- National Credit Act 34 of 2005, section 101: cost of credit (Acts Online)
- National Credit Act 34 of 2005, section 92: pre-agreement disclosure (Acts Online)
- Directive 2008/48/EC on credit agreements for consumers, annex I: APR formula (EUR-Lex)
An estimate based on the figures you enter: not an offer or financial advice. The cost of your loan is the one in the quotation and the credit agreement the lender gives you.
What to look at before you sign
The calculator shows the APR, the total you repay, each instalment and what every R100 you borrow costs. The APR lets you compare loans of different lengths on one scale. The total and the cost per R100 show how much really leaves your pocket.
Illustrative example, not an offer: a R5 000 loan repaid in 12 monthly instalments, with R600 in interest and fees in total. You repay R5 600, each instalment is R466,67, and every R100 you borrow costs you R12.
On a loan of a few days or weeks the APR comes out very high even when the cost in rand is small, because the formula stretches it over a whole year. For short loans look at the total you repay and the cost per R100.
How to pay less for a loan
- Compare quotes for the same amount and the same term. One APR can only be compared with another if you borrow the same amount for the same time.
- Count every charge. Interest, the initiation fee, the monthly service fee and credit life insurance all go together in the “Interest and fees” field.
- Ask for the quotation before you sign. It shows the interest rate, every fee and the total you will repay.
- Borrow only what you need and settle sooner if you can. A smaller amount or a shorter term usually means less interest, if the rate does not change.
Once you have the APR for two or three quotes, compare loans and check the monthly instalment and repayment schedule in the loan repayment calculator.
Questions about the APR
What does the APR on a loan mean?
The APR is the total cost of a loan (interest, fees and insurance you pay) shown as one yearly rate. It lets you compare loans of different sizes and lengths. Your lender may quote a monthly interest rate instead, and that rate covers the interest only.
Why is the APR here different from the rate my lender quotes?
Short-term lenders in South Africa must disclose their interest rate per month. That rate leaves out the initiation fee, the service fees and credit life insurance. The APR adds them in and converts everything to a year, so it comes out higher than the monthly rate suggests.
Why is the APR of a one-month loan so high?
Because the APR shows the cost over a year. If you pay R15 for every R100 over one month, the formula treats that cost as if it repeated across the whole year. You will not pay that much in a year, but the loan is expensive for its length. To decide, compare the total you repay.
Where do I find the real cost of my loan?
In the quotation and the credit agreement the lender gives you. Our result can differ a little, because we count a year as 365 days and assume equal payments. The figures in your quotation and agreement are the ones that count.
Sources
Important information
The National Credit Act limits interest, the initiation fee and the service fee separately instead of capping one total annual rate. Section 101 lists what a credit provider may charge (initiation fee, service fee, interest, credit insurance, default charges and collection costs). The APR on this page is our own calculation for comparing loans, using the standard formula in annex I of Directive 2008/48/EC. Before you sign, the credit provider must give you a pre-agreement statement and quotation (section 92).
Maximum prescribed interest (regulation 42, Table A, as amended by Notice 1080 of 6 November 2015; Acts Online, checked 22 October 2026): short-term credit transactions 5% per month on the first loan and 3% per month on subsequent loans within a calendar year; unsecured credit transactions the repo rate plus 21% a year. Short-term interest must be disclosed as a monthly rate. Limits on the initiation fee and service fee are set separately: check the current amounts with the National Credit Regulator.
The calculator gives an estimate based on the figures you enter: it is not an offer or financial advice.
- Kredio: terms from the lender’s website, as of 27 Oct 2026