Short-term loan cost calculator
The legal maximum for a short-term loan, split into the parts that matter.
What R2 000 is legally allowed to cost
Legal maximum · NCA caps- Loan
- R2 000
- Interest (5%/mo)
- R100.00
- Fees incl. VAT
- R373.75
- Total to repay
- R2 473.75
Fees: initiation R304.75 (R165 + 10% above R1 000, capped at R1 050, plus VAT) and service fees R69.00 (R60 plus VAT per month). Interest is the small part of a short loan; fees are the part to compare.
Caps per NCA regulations effective 6 May 2016; repo rate 7.00% since 28 May 2026. Last checked 25 August 2026.
By term, for one amount
| Term | Cap | Monthly instalment | Interest | Fees incl. VAT | Total repayable |
|---|---|---|---|---|---|
| 1 month | 5% / month | R2 473.75 | R100.00 | R373.75 | R2 473.75 |
| 2 months | 5% / month | R1 296.98 | R151.22 | R442.75 | R2 593.97 |
| 3 months | 5% / month | R905.00 | R203.25 | R511.75 | R2 715.00 |
| 4 months | 5% / month | R709.21 | R256.09 | R580.75 | R2 836.84 |
| 6 months | 5% / month | R513.83 | R364.21 | R718.75 | R3 082.96 |
Who covers R2 000
Legal maximum for R2 000 over 3 months: R2 715.00 to repay — the NCA cap, not a lender's price. A quotation below it is competing on price.
Binixo4.5Matching service · not a lenderFeatured partnerOne form, passed to a panel of registered lenders. The loan agreement is with the lender.
The widest single form on this list: R1 000 to R50 000 across a named partner panel, free to use.
- Advertised
- R1 000 – R50 000
- Term
- 3 months – 6 months
- Payout
- Set by the lender you choose; the site says same day
- For: One form covers R1 000–R50 000, the widest range here
- Against: Partners overlap with other entries here, so some options repeat
Letocredit3.0Matching service · not a lenderOne form, passed to a panel of registered lenders. The loan agreement is with the lender.
A quick way to see several small-loan lenders at once; ignore the 'no credit check' line on its homepage.
- Advertised
- R500 – R15 000
- Term
- 2 months – 12 months
- Payout
- Same day for most partner lenders; often 15–30 minutes after confirmation
- For: Free, and explicit that it is not a lender
- Against: 'No credit history check' claim contradicts the affordability assessment every registered lender must run
NCR NCRCP22362Fast, small and clearly registered; ask for the quotation before you count on the amount.
- Amount
- R500 – R5 000
- Payout
- Decision in 10–25 minutes; transfers typically post within 5 minutes, same or next business day at the latest
- For: Transfers post within minutes at the major banks
- Against: First loans start small
Featured partners pay us a commission when you apply through them; that decides the position, not the star rating. Matching services are not lenders — your agreement is with the lender that accepts you, and every lender must assess affordability.
Reading the result
Three numbers make up a short-term loan: interest (capped per month), the initiation fee (once per loan) and the service fee (monthly). VAT applies to the fees. The strip shows all three for the amount and repayment you choose; the table shows the same amount over one to six months so you can see what the term does to the total.
If the lender's quotation is close to this figure, it is pricing at the cap. If it is well below, it is competing on price. Either way, the number to compare is the total repayable, not the interest rate.
Questions people ask
›Is this what a lender will charge me?
No. It is the most a registered lender is allowed to charge under the National Credit Act. Lenders may charge less; compare their pre-agreement quotation against this figure.
›Why does a 30-day loan show such high fees?
The initiation fee is charged once regardless of term, so on a short loan it dominates the cost. Interest is the small part.
›What is the 3% rate?
Short-term interest is capped at 5% per month on your first short-term loan in a calendar year and 3% per month on any further short-term loans that year.
›Does this include credit life insurance?
The strip excludes it; the table includes a separate column where relevant. Credit life is capped at R4.50 per R1 000 owed per month and lenders may require it.