Student Loan Calculator South Africa

Our loan calculator is easy to use and will help you understand your student loan application.

Use it to estimate your total loan repayment with interest rates.

How it Works:

  1. Enter the loan amount of your student loan.
  2. Enter the interest charged as indicated by the student loan provider.
  3. Enter the loan repayment terms (in months) for the loan.
  4. Click calculate to see the results.

Repayment Calculator

Choose your perfect loan

Lender Offer Get started
BFS Loans BFS Loans R500.00 - R10,000.00
Est. Interest: 60%
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Unifi Credit Loans Unifi Credit Loans R2,000.00 - R8,000.00
Est. Interest: 3%
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Pep Loans Pep Loans R1,000.00 - R8,000.00
Est. Interest: 24.5%
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FNB Temporary Loan FNB Temporary Loan R100.00 - R10,000.00
Est. Interest: %
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Builders Cash Loan Builders Cash Loan R1,000.00 - R25,000.00
Est. Interest: 17.5%
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Yebo Cash Loans Yebo Cash Loans R500.00 - R8,000.00
Est. Interest: 5%
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LittleLoans Reviews LittleLoans Reviews R500.00 - R8,000.00
Est. Interest: 5%
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Fasta Instant Credit Fasta Instant Credit R500.00 - R8,000.00
Est. Interest: 5%
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Mr Cash Loans Mr Cash Loans R1,000.00 - R200,000.00
Est. Interest: 28%
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1st for Women Personal Loans 1st for Women Personal Loans R1,000.00 - R250,000.00
Est. Interest: 26.25%
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Understanding the loan results

The calculator results exclude any charges the lender might charge such as the loan setup and monthly fees.

  1. 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 interests of your loan will also be higher.
  2. Total Payment: This is the estimated total amount you'll have to pay back, with interests.
  3. Total Interest: Based on the information you provided on the calculator, this will be the total interest you need to pay for the loan amount. The interest will be calculated each month, based on the principal debt.

What is a Student Loan?

A student loan is money borrowed specifically to pay for study-associated fees such as tuition, stationery, and accommodation.

Because the potential student isn't working yet, the parent or guardian is required as surety to secure the loan.

The funds are not for personal use but will be paid directly into the institution's bank account.

Yes, these are secured loans and it works like this:

The parent with an income will pay the interest of the loan, while you're still studying. While the student is required to repay the principal debt after graduation and finding work.

It's always a very difficult decision to make when applying for a student loan.

In my experience, I ended up paying the full loan for my sister's studies because unemployment is so high in the country, that she can't even get a learnership.

How to Qualify for the Student Loan?

The most important factor when applying for a loan is your parent's credit score rating.

Your surety must have a good credit history so that you'll be able to qualify for the student loan.

In addition, the following documents will be needed by the lender or banks.

  • Certified copy of your ID
  • Proof of income
  • Banking statements