Your overview before you apply
The calculation is based on your answers. It is illustrative: the lender decides whether to lend and at what rate.
Repayment at different rates
Interest rateMonthly repaymentTotal repayable
12.9 %––
18.9 %––
24.9 %––
Your spare budget
Left after costs and repayments
–
Highest amount at the chosen term and 18.9 %
–
Costs and current repayments
–
The repayment at 18.9 % fits your budget. Still keep a buffer for unexpected costs.
The repayment at 18.9 % is higher than what you have left. Try a smaller amount or a longer term.
After your costs and current repayments there is no room for a new repayment.
The loan type that suits your purpose
Vehicle financeWith vehicle finance the car usually secures the agreement, so the rate is often lower than for an unsecured personal loan.Read more → Home loan or personal loanFor a larger renovation, borrowing against your home usually has a lower rate. For smaller amounts a personal loan can make sense.Read more → Debt consolidation loanConsolidating pays off when the new rate is lower and the total cost of credit falls after all fees.Read more → A small short-term loanFor small amounts until payday, look mainly at the fees and the total cost, not just the instalment.Read more → NSFAS or a student loanCheck first whether you qualify for NSFAS funding before taking out a student loan.Read more → Personal loanYou can use the money for anything. Compare the total cost of credit with several lenders.Read more →What your credit history means
The best starting pointWith a clean credit record you can compare banks and other lenders and negotiate on the rate.
Paid debtEvery listing has an expiry date: adverse classifications stay for 1 year, defaults for 1 year after the account is settled and civil judgments for up to 5 years. Paid-up judgments must be removed from your record.
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Unpaid accountsRegistered credit providers must do an affordability assessment, and with unpaid defaults or judgments you will usually be declined. Be wary of offers that ask for a fee before paying out. If you are over-indebted, debt review with a registered debt counsellor is an option.
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Check your credit reportYou are entitled to one free credit report a year from each registered credit bureau. Check it before you apply so you know what lenders will see.
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