Important disclosure

1Life Personal Loans Calculator & Product Overview

1Life is South Africa’s first direct life insurer. Among regular life insurance products (disability, funeral, life insurance), 1Life also offers personal loans through RCS, a Registered Credit and Authorised Financial Services Provider.

Whether you need a personal loan for a holiday trip, to renovate your home or to consolidate your debts, 1Life has the right product for your needs.

To help you decide, our loan calculator can help you budget for your next loan. To see what your monthly payment will be like simply input the loan amount you are interested in, adjust the loan term and then click calculate. Give it a quick try.

Calculate your repayments

Loan Amount



3 months

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Minimum and maximum loan periods vary between 1 months and 10 years. Comparison interest rates vary between 6.55% and 60% p.a. Total interest repayments vary between R685.05 and R844.12 over the life of the loan. *Comparison rate is based on an unsecured loan of R20,000 for a term of 3 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. These rates can change without further notice. All rates quoted are per annum. For more information regarding fees click on "View fees & additional info +" for each product or contact the provider.

1life personal loan calculator

While it is true that there are a lot of available lenders in South Africa, finding a reputable one that offers favourable terms is not an easy task. You will be pleased to learn that 1life loans provide some of the most competitive interest rates and payment terms available on the market.

That means getting a 1life loan that will help improve your cash flow might be a good move for you. Therefore, in this article, you’ll read about the best and easy way to get a 1life personal loan.

Features of 1life personal loans

  • You can get a 1life loan of up to R250 000.
  • When you take a loan with 1life, you are guaranteed fixed loan repayment amounts each month. That means you will not be unpleasantly surprised by a higher payment than usual.
  • 1Life Personal loans are powered by a company called RCS, which is a registered financial services provider in South Africa.
  • When you apply for a loan, 1life will perform a credit check on you before they approve the loan. They do this to make sure that you can only get a loan that you’ll be able to pay back without much struggle.
  • This credit provider offers loans that you’re supposed to pay back within 12-60 months.
  • The maximum interest rate is set at 24.50%.
  • Before you get the loan, you’re also charged an initiation fee that will depend on your credit score.
  • The interest rate is also linked to your credit score; if your score is low, you might be charged a high-interest rate.

Example of a 1life personal loan repayment calculation

  • Interest rate: Fixed at 24.50%
  • Loan amount: R7 500
  • Loan term:  24 months
  • Initiation fee: R1207 that is charged upfront
  • Monthly service fee: R69
  • Monthly instalment: R542
  • The total amount payable for the loan: R13 005.72

1life loans: Personal protection plan

You might be wondering why you or anyone needs to be protected when you get a loan. The truth of the matter is that life can be unpredictable at times. While you might be confident that you’ll be able to make your loan payments until the loan is settled, things can change quite quickly.

A personal protection plan from 1life is an insurance plan which guarantees that your loan will still get paid off in the wake of unexpected events. This insurance will settle your debt in the event of your disability, retrenchment, sickness or death. You can also substitute 1life’s insurance policy with one of your own as long as it meets all the requirements.

What are the requirements for a 1life personal loan application?

  • 18years and above;
  • Be employed with a regular, monthly salary;
  • Your salary has to be R2000 and above;
  • A good credit score is an added advantage; and
  • An active South African bank account in your name.

What documents do you need for a 1life loan application?

  • A valid, government-issued South African identity document;
  • Your latest payslips or bank statements (usually for the last 3 months); and
  • Proof of residence in the form of some utility bills.

Factors to consider before applying for a one life personal loan

  • Make sure you’re getting a 1life loan you can afford to pay back.
  • Stick to borrowing only the amount that you need. Due to interest rates, loans can be quite expensive. Therefore, it is not advisable to use loan money for any unnecessary expenses.
  • Read all the terms and conditions and understand how this lender operates.

Find your monthly repayments when you use the 1life personal loan calculator

Knowing your monthly repayments is very crucial if you want to apply for a 1life loan you can afford. That’s why we have created the 1life loan repayment calculator. To get this important piece of information, use the sliding tools to enter first the loan amount and then the loan term. Click “Calculate Repayment” and get fast results that help you to choose the best loan for your monthly budget.

How to apply for a 1life personal loan

The loan application for a 1life personal loan is relatively easy when you start on this page. Simply click the “Go to Site” link for 1life. Once you arrive at their website, you can fill out an online application form. You will also have to upload the necessary documents for your application to be complete. When you finish the application, the next step is to wait for a response from 1life.

What are the interest rates like?

1life offers competitive and fixed interest rates. That means the rate you agreed to when you applied for the loan will not change. Even if interest rates fluctuate, yours will remain the same. In addition, the interest you pay will be a relatively low amount. This makes a 1life personal loan a safer and less expensive option.

How to pay back 1life loans

For your convenience 1life has a simplified loan repayment process. With your approval, this lender sets up a debit order when you apply for the loan. Your monthly instalment is then deducted from your account each month when your salary appears.

This can be quite convenient, and it will go a long way in helping to improve your credit score. All your monthly payments will be made on time as long as your salary gets in. Having an improved credit score and a clean credit record will also help you get approved for future loans.

Advantages of 1life personal loans

  • Flexible loan terms that range from 12 months to 72 months (5 years). You can choose a loan term that suits you depending on your loan amount and monthly budget.
  • The loans have a fixed interest rate. That means that you’ll not get affected by fluctuating interest rates. Every month you know what to expect, and there will be no surprises.
  • 1life performs credit checks before offering you a loan. They do this to ensure responsible borrowing on your part.

How to use a 1life personal loan

Once you get your loan approved and you receive the money, you can use it any way you want. You must, however, use money responsibly. You can use the funds to:

  • Pay for hospital bills;
  • Finance your home improvement;
  • Invest in a profitable venture; or
  • Go on a holiday or trip.

More about 1Life

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