Loan Repayment Calculator South Africa
Calculate your monthly repayment, total interest and see the full amortisation schedule.
Monthly Payment
R473
Total Repayment
R5 674
Total Interest
R674
Borrowing R5 000 at 24% per annum over 12 months, you will pay R473 per month. Total cost: R5 674 (interest: R674).
Amortisation Schedule
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | R473 | R373 | R100 | R4 627 |
| 2 | R473 | R380 | R93 | R4 247 |
| 3 | R473 | R388 | R85 | R3 859 |
| 4 | R473 | R396 | R77 | R3 463 |
| 5 | R473 | R404 | R69 | R3 060 |
| 6 | R473 | R412 | R61 | R2 648 |
| 7 | R473 | R420 | R53 | R2 229 |
| 8 | R473 | R428 | R45 | R1 800 |
| 9 | R473 | R437 | R36 | R1 363 |
| 10 | R473 | R446 | R27 | R918 |
| 11 | R473 | R454 | R18 | R464 |
| 12 | R473 | R464 | R9 | R0 |
How to Use This Calculator
Use the sliders above to adjust your desired loan amount, repayment term and interest rate. The calculator instantly shows your estimated monthly payment, total repayment amount and total interest you will pay over the loan term. The amortisation schedule below breaks down each monthly payment into principal and interest portions.
Understanding Loan Costs in South Africa
Under the National Credit Act (NCA), lenders in South Africa can charge an initiation fee (up to R1,207.50), a monthly service fee (up to R69), and credit life insurance. These fees are in addition to the interest rate shown in this calculator. The maximum interest rate for unsecured credit agreements is currently capped by the NCA.
Tips to Lower Your Monthly Payment
- Choose a longer repayment term (but note this increases total interest)
- Improve your credit score before applying to qualify for lower rates
- Compare multiple lenders — rates vary significantly
- Consider making extra payments to pay off your loan faster
- Ask about fee waivers or loyalty discounts
Disclaimer: This calculator provides estimates only and does not constitute a loan offer. Actual repayment amounts may differ based on fees, insurance and the lender's terms. Always review the full loan agreement before signing.