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Required information for personal loans
Minimum period for repayment of loan:
60 days
Maximum period for repayment of loan:
5 years
Maximum annual percentage rate of loan (APR):
24%
Representative example of loan structure with total cost and all fees:
Loan Amount: R8,000. The specific amount is determined by the application evaluation.
Loan Term: 90 days
Loan Interest rate: 24%.
Transaction fee: zero
Example: The principal amount is R5000 and the interest rate is 24%, Then the full amount to be paid is: R6100.
This is calculated by multiplying the loan amount of R5,000 with the interest rate of 24%, then adding the two amounts, R5000 and R1200. R5000* 22% + 5,000 = R6,200. Total cost of loan is R1200 over 90 days.
Required information for personal loans
Minimum period for repayment of loan:
60 days
Maximum period for repayment of loan:
5 years
Maximum annual percentage rate of loan (APR):
24%
Representative example of loan structure with total cost and all fees:
Loan Amount: R8,000. The specific amount is determined by the application evaluation.
Loan Term: 90 days
Loan Interest rate: 24%.
Transaction fee: zero
Example: The principal amount is R5000 and the interest rate is 24%, Then the full amount to be paid is: R6100.
This is calculated by multiplying the loan amount of R5,000 with the interest rate of 24%, then adding the two amounts, R5000 and R1200. R5000* 22% + 5,000 = R6,200. Total cost of loan is R1200 over 90 days.
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