Is this loan offer fair?
Before you sign, check what a loan will really cost you and whether the lender is charging within the legal limits.
This loan will cost you
R 0
Enter the loan details to start.
- Paid back in total
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- Real yearly cost
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- Per R100 borrowed
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Is it within the legal limits?
Shorter or longer?
A longer term lowers the instalment but costs you more in total. Here's the same loan over different terms:
| Term | Each month | Total cost |
|---|
Can you afford it?
Before you sign
- Ask for a written quotation. It must show every fee and the total you'll pay.
- Check the lender is registered with the National Credit Regulator: their NCRCP number should be on the quote, and you can confirm it at www.ncr.org.za.
- Never hand over your bank card, PIN or ID book to a lender. Keeping them is illegal.
- No lender may charge you a fee before your loan is approved. An upfront "admin" or "insurance" payment is a common scam.
- You can use your own life cover instead of the lender's credit life insurance, if it gives the same cover.
Get your free loan check
A PDF with the true cost, the legal checks and questions to ask the lender. Take it with you before you sign. No sign-up needed.
Disclaimer
This checker is a free educational tool from Let's Talk Money. The results are estimates based on what you enter and are not financial or legal advice.
- A result that is over a limit is a reason to ask questions, not proof that a lender has broken the law. Quotes can be set out in different ways, and a missing or mistyped fee will change the result.
- Legal limits are set by regulations under the National Credit Act and can change. Interest limits move whenever the Reserve Bank changes the repo rate.
- Your information stays on your device. Nothing you type here is sent to or stored by Let's Talk Money.
If you think a lender has overcharged you, contact the lender first, then the National Credit Regulator (www.ncr.org.za, 0860 627 627). Let's Talk Money does not sell financial products and accepts no liability for decisions made using this tool.
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