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Al Baraka Bank Personal Loan Repayment Calculator

Our Albaraka Bank loan calculator will aid you in comparing possible loan options. It easily calculates an estimate of your monthly repayment given a set loan amount and term.

After you input the loan amount, simply adjust the loan term and then click calculate. You will then see what the likely monthly repayment will be. This way you can make a better financial plan for your Albaraka Bank personal loan.

Calculate repayments

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A cash loan from R2 000 up to R250 000. Fast, paperless application process. Decision in seconds. Cash in your account within 24 hours. Flexible repayment options; choose from 12 to 60 months. Free monthly statement via email or SMS. Customer Protection Insurance. Interest from as low as 15%.

Overview

Minimum loan amountR2,000

Maximum loan amountR250,000

Minimum term (months)12 months

Maximum term (months)60 months

Personal loan interest rates (base)15.00%

Personal loan APR15.00%

Monthly repayments (approx)R796

Total repayments (approx)R28,656

Total interest repayments (approx)R8,656

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR936.50

Minimum monthly incomeR2,000

GO TO RCS

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0861 729 727

Data accurate as of18.01.2020

GO TO RCS

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Get up to R250 000 over 1 – 84 months. Choose between the amount you want, the monthly installment that suits your pocket, or the option that gives you the lowest interest rate. Credit is approved in minutes and the money is available immediately. Pay fixed monthly repayments.

Overview

Minimum loan amountR50,000

Maximum loan amountR100,000

Minimum term (months)1 month

Maximum term (months)84 months

Personal loan interest rates (base)14.20%

Personal loan APR14.20%

Monthly repayments (approx)R797

Total repayments (approx)R28,692

Total interest repayments (approx)R8,692

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR3,000

GO TO Capitec Bank

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0860 66 77 89

Data accurate as of12.07.2020

GO TO Capitec Bank

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Loans up to R250,000. Terms between 7 months and 72 months.

Overview

Minimum loan amountR10,000

Maximum loan amountR250,000

Minimum term (months)7 months

Maximum term (months)72 months

Personal loan interest rates (base)15.00%

Personal loan APR15.00%

Monthly repayments (approx)R805

Total repayments (approx)R28,980

Total interest repayments (approx)R8,980

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR2,000

GO TO African Bank

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityNo

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?No

Sponsored No

Telephone0861 111 011

Data accurate as of18.01.2020

GO TO African Bank

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Tired of those expensive repayments? Then switch your personal loans to Absa. It’s easy and with our guaranteed lowest interest rate, you will start saving money immediately. We can switch your personal loans of up to R350 000 and pay your creditors directly.

Overview

Minimum loan amountR15,000

Maximum loan amountR350,000

Minimum term (months)12 months

Maximum term (months)84 months

Personal loan interest rates (base)18.82%

Personal loan APR18.82%

Monthly repayments (approx)R845

Total repayments (approx)R30,420

Total interest repayments (approx)R10,420

Rate typeFixed or Variable

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR2,000

GO TO Absa

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityNo

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feen/a

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0860 100 372

Data accurate as of12.06.2020

GO TO Absa

Hide info -

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CompareLoans.co.za provides factual information in relation to financial products. While CompareLoans.co.za attempts to make a wide range of products and providers available, it may not cover all the options available to you. Moreover, we cannot be responsible for changes made to this information by product providers and/or inaccurate information obtained from a product provider. All product information comes from the product provider or publicly available information and to the best of our knowledge is correct at the time of publishing. The information published on CompareLoans.co.za is general in nature only and does not consider your personal objectives, financial situation or particular needs and is not recommending any particular product to you. If you decide to apply for a product you will be dealing directly with that provider and not with CompareLoans.co.za. CompareLoans.co.za recommends that you read the relevant product disclosure statement or product guide before taking up any financial product offer. For more information please see CompareLoans.co.za's Terms of Use and Services Guide.

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.

What type of loan are you looking for?

Albaraka loan calculator – Calculate your monthly costs

It’s a good idea to use the right loan calculator when shopping for a Shari’ah-compliant loan from Albaraka Bank in South Africa. At CompareLoans, we have created the Albaraka loan calculator to help you make an informed decision before applying for your Albaraka loan.

How does the Albaraka loan calculator work?

In simple terms, our calculator shows you how much you can afford to pay every month once you receive funds from Albaraka. Here’s how you can work out your monthly repayments:

  1. Choose a loan amount. Your loan amount depends on what you want to use the loan for. Typically, loan amounts can go up to R300 000 in South Africa, so use the first slider to enter a suitable number you have in mind.
  2. Choose a loan term. There are different loan terms for home finance and vehicle finance. Use the second slider to enter the number of repayment months you need based on your option.
  3. Click, “Calculate Repayment.” Results are immediately available for the featured lenders in the comparison tables above.
  4. Repeat the process. There’s no guarantee you’ll find the perfect monthly instalment for your budget on the first try. You’re free to adjust the sliders until you get the best result.

Understanding the results from the loan calculator

The Albaraka loan calculator can answer important questions for you so you can understand the cost of borrowing. The following questions help you to choose the best monthly payment option for you:

  • How much do I have to pay every month? – This is a big question because it might potentially affect your financial situation for the next few years.
  • Can I afford it? – Once you get a monthly payment result, look at your budget to see if it fits in with other monthly expenses.
  • What is the total cost of the loan? – For a quick estimate, simply multiply the amount you have to pay every month with the number of months in your loan term.
  • How can I reduce the cost of my loan? – While the interest rate does not apply in Islamic banking, you might get charged fewer fees if you borrow a smaller amount and if you choose a shorter loan term.

Albaraka loan calculator for vehicle finance

The Albaraka loan calculator also works as a car finance calculator because you can use it to estimate your monthly payments. This, in turn, enables you to figure out a safe amount to spend on your car. When using the calculator keep in mind that loan terms for Albaraka car loans go up to 72 months (6 years) so there’s plenty of room for affordable payments.

Albaraka loan calculator for your home loan

The Albaraka loan calculator also estimates the monthly payments for your home loan, which is another financial product offered by this Islamic Bank. A house is a big purchase, and because Albaraka gives you up to 240 months to pay off the loan, it’s crucial to use the calculator so you can choose a repayment option that keeps your budget as stable as possible.

Advantages of the Albaraka loan calculator

  • Budget planning. You can easily plan for your vehicle or home purchase with, hopefully, fewer unexpected expenses and more peace of mind when you start paying off the loan.
  • Informed decision-making. When it comes to borrowing, it’s recommended that you enter into a loan agreement knowing all the facts involved. Your monthly payments are one of the biggest factors to consider when applying for an Albaraka Bank loan.
  • Saves you time. It’s easy to see what you can or can’t afford. That means you don’t waste time applying for the wrong loan option.
  • Free and easy-to-use. The calculator not only has a quick and straightforward function, but you’re also free to use it at zero cost.

Take the next step and apply for your Albaraka loan

To apply for a loan with Albaraka Bank, you’ll need the following:

  • Proof of income
  • Salary confirmation for the last 3 months; or
  • Financial Statements / Income Tax Return;
  • 3 months latest bank statements;
  • Signed statement of personal Income and Expenditure;
  • Signed statement of personal Assets and Liabilities;
  • Valid South African ID; and
  • Proof of residence.

Find out more about Albaraka Bank and their Shariah-compliant loans.

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