Costs & repayment
Costs and repayment
Three charges, each within the maximums set under the National Credit Act. Nothing else is added if you repay on time.
Initiation fee
Once per loan.
R165
Service fee
R60 a month at most. Charged only for the days you use.
R2 a day
Interest
On the amount borrowed, charged per day. 3% a month for any later loan in the same calendar year.
5% a month
Everything else
No insurance, application fee or early-settlement penalty.
R0
- Paid into your account
- R500.00
- Initiation fee (once-off)
- R165.00
- Service fee (17 days)
- R34.00
- Interest (5% per month, 17 days)
- R13.97
Total to repay on Wed 25 November
Cost of credit R212.97
R712.97
First-loan pricing. Subject to approval.
Repaid after 30 days · first loan of the year
| Borrow | Fees | Interest | Cost of credit | You repay |
|---|---|---|---|---|
| R300 | R225.00 | R14.79 | R239.79 (79.9%) | R539.79 |
| R500 | R225.00 | R24.66 | R249.66 (49.9%) | R749.66 |
| R750 | R225.00 | R36.99 | R261.99 (34.9%) | R1,011.99 |
| R1,000 | R225.00 | R49.32 | R274.32 (27.4%) | R1,274.32 |
Repaid after 14 days · first loan of the year
| Borrow | Fees | Interest | Cost of credit | You repay |
|---|---|---|---|---|
| R300 | R193.00 | R6.90 | R199.90 (66.6%) | R499.90 |
| R500 | R193.00 | R11.51 | R204.51 (40.9%) | R704.51 |
| R750 | R193.00 | R17.26 | R210.26 (28.0%) | R960.26 |
| R1,000 | R193.00 | R23.01 | R216.01 (21.6%) | R1,216.01 |
Fees are the initiation fee plus the service fee for the days shown. The percentage is the cost of credit as a share of the amount borrowed; smaller loans cost more as a share because the initiation fee is fixed. Your exact total depends on the day we pay you and is confirmed in your pre-agreement statement before you sign.
What you must repay
On your repayment date
The full total in your agreement, in one payment, collected by a DebiCheck debit order you approve with your bank. There are no instalments.
If you settle early
You pay the amount borrowed, the initiation fee, and interest and service fee only for the days you had the money. No early-settlement penalty.
If you pay late
Interest keeps running at the same daily rate on the amount borrowed. There are no penalty fees, and what builds up while you’re in default can never exceed the unpaid balance at that time. Missed payments may be reported to credit bureaus after we give you written notice.