Use our free student loan calculator below for your affordability assessment.
South Africans use the calculator to check monthly installments, the interest rate charged, and overall debt.
It’s always wiser to calculate repayment before taking out a student loan, to better plan your monthly expenses like a pro.
The following calculator is easy to use and you’ll get a precise estimate on your loan repayment – very useful.
How to use our loan calculator
This calculator is very simple to use.
We’ve designed it to offer instant answers when you need them the most before making your loan application.
Update the amounts with the values you wish to go for, in terms of applying for the personal loan. As you update the values in the loan calculator, please take note of the totals as they change instantly as you type.
Understanding the loan results
Monthly Payment: This is your estimated monthly installments for the loan amount you’ve entered. If you were expecting a lower monthly installment, you might want to recalculate with a longer repayment term. But there’s a catch, the accrued total interests of your loan will also be higher.
Total Payment: This is the estimated total amount you’ll have to pay back, with interests.
Total Interest: Based on the information you provided on the calculator, this is the total interest you’re going to pay for the loan amount. Borrowers with a good credit score usually pay less interest than someone with bad credit.
