Think. Calculate. Compare. Borrow
Before applying for a personal loan it is important to think through the decision, calculate the costs of the loan, compare various loan offerings and once you are satisfied you can then go ahead and apply for the loan. The Rateweb Personal Loan Calculator is there to assist you with estimated costs of the personal loan.
FNB Personal Loan
Fnb offers up to R300 000 for personal expenses. You can use the money for anything you personally decide. You can pay it off between 1 – 60 months. Your repayment amounts are the same on a monthly basis because come on a fixed interest rate.
*FNB has a personal loan calculator on their website you can use it for much more accurate estimates on how much their personal loan will cost you.
ABSA Personal Loan
Absa offers a loan slightly higher than fnb, they offer up to R350 000 for personal expenses. You can repay the loan between 12 – 84 months. Absa has a Personalised Annual Percentage Interest Rate of up to the maximum of prime +17,5%. Take note: the Prime lending Rate in South Africa is 9.75. This means the maximum you can pay for an Absa personal loan is 27,25% per annum.
*Absa has a personal loan calculator on their website you can use it for much more accurate estimates on how much their personal loan will cost you.
Nedbank Personal Loan
Nedbank offers a loan between R2 000 – R300 000 for personal expenses. You can repay the loan between 6 – 72 months. However, if you take out a Nedbank Personal Loan it is a must to take out Nedbank Personal Loan Protection Insurance. For this loan you need to have a minimum monthly income of R3 500, you must be employed or self employed.
*Nedbank has a personal loan calculator on their website you can use it for much more accurate estimates on how much their personal loan will cost you.
Standard Bank Personal Loan
Standard Personal Loan offers up to R300 000 for personal expenses. You can use the money for anything you personally decide. You can pay it off between 12 – 72 months. Your repayment amounts are the same on a monthly basis because come on a fixed interest rate.
*Standard Bank has a personal loan calculator on their website you can use it for much more accurate estimates on how much their personal loan will cost you.
Capitec Bank Personal Loan
Capitec Bank Personal Loan offers a loan between R2 000 – R250 000 for personal expenses. You can repay the loan between 1 – 84 months. However, if you take out a Nedbank Personal Loan it is a must to take out Nedbank Personal Loan Protection Insurance. For this loan you can get interest rates from 12.9%
*Capitec bank has a personal loan calculator on their website you can use it for much more accurate estimates on how much their personal loan will cost you.
