Minimum and Maximum Repayment Period: The minimum repayment period for personal loans presented on our platform is 91 days. The maximum repayment period is up to 12 months. We do not promote payday loans with repayment terms of 90 days or less.
Maximum Annual Percentage Rate (APR): The maximum APR is 27.5%. This rate includes interest, initiation fees, and monthly service fees as prescribed by the National Credit Act (NCA). Rates may vary based on your personal credit profile and the specific lender's assessment.
Representative Example: For a personal loan of R 5,000 taken over a period of 91 days (3 months) at an annual interest rate of 27.5%:
- Initiation fee: R 550
- Monthly service fee: R 69
- Total amount payable: R 5,984
- Monthly installment: R 1,994
*This is a representative example; actual rates, fees, and final amounts may vary depending on the lender and your credit score.
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