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Use a lender’s quote, or explore an example.
The initiation fee is added to the loan. Insurance is a fixed monthly example. Your lender may charge insurance on a reducing balance.
For 24 months at 20% annual interest
- Amount borrowed
- R 25 000,00
- Interest
- R 5 804,94
- Initiation & service fees
- R 2 863,50
- Insurance
- R 1 800,00
- Total you repay
- R 35 468,44
That’s R 10 468,44 above the amount you borrow.
Explore lenders Illustration only. This is not a quote or an approval decision.Your numbers stay in this browser tab. We do not send them to lenders.
How this calculation works
The example uses a fixed annual nominal rate divided into monthly periods and equal monthly principal-and-interest payments. The initiation fee is financed and attracts interest. A fixed service fee and fixed insurance amount are then added each month.
The initial numbers are an editable illustration, not an offer from a lender. The result excludes late fees, changes in rate and daily-interest differences. Actual insurance may decrease with the outstanding balance. Displayed amounts are rounded to cents; the schedule uses unrounded calculations.
Try a shorter and longer term with the same rate and fees. Then use our budget check to see how a repayment fits into your month.