Our personal loan calculator is easy to use and will help you understand loan applications.
Use it to estimate your total loan repayment with interest rates.
How the Calculator Works
- Enter the loan amount you wish to apply for. Personal loans typically range between R1,000 to R300,000.
- Enter the maximum interest as indicated by the lender or credit provider of your choice.
- Enter the repayment terms (in months) you want for the loan. Loan terms range from 12 to 60 months.
- Click calculate to see the results.
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Understanding the Personal Loan Calculator results
Monthly Payment: This is your estimated monthly installments for the loan amount you’ve entered. If you were expecting a lower monthly installment, you might want to recalculate with a longer repayment term. But there’s a catch, the accrued total interest of your loan will also be higher.
Total Payment: This is the estimated total amount you’ll have to pay back, with interest.
Total Interest: Based on the information you provided on the calculator, this is the total interest you’re going to pay for the loan amount. Borrowers with a good credit score usually pay less interest than someone with bad credit.