Important disclosure

Mercantile Bank Personal Loan Calculator

Mercantile Bank is a South African commercial bank, founded in 1965. The bank provides products and services in retail banking, corporate finance, asset management, equity brokerage and security. Mercantile Bank personal loans let you pay for unexpected expenses, holidays or debt consolidation and much more.

To help you compare your loan options, simply input the loan amount and use the toggle to adjust the loan term. Once you click calculate, you will see how much the loan will cost you overall. Go ahead and give it a try!

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Loan Amount



3 months

Mercantile Bank

Mercantile Bank Personal Loans & Vehicle Finance

Estimated Month Repayments
Interest Rate
Repayment Period
12 months
to 240 months
Loan Amounts
to R250,000
Get a principal decision within 24 hours if all necessary documents have been provided. provides factual information in relation to financial products. While 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 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 recommends that you read the relevant product disclosure statement or product guide before taking up any financial product offer. For more information please see's Terms of Use.

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.

Mercantile Bank loan: finance your personal needs today

If you’re looking for a one-time funding solution to cover your expenses, Mercantile Bank offers you a wide range of personalised loan products. Mercantile Bank loan rates are very competitive and flexible to suit your individual needs.

You may be searching for a small amount of quick, extra cash. Or, perhaps you want to finance a large asset such as a car. We look at what this South African commercial bank provides and how you can benefit from their loans. Read on for more Mercantile personal loan details.

Types of loans offered at Mercantile Bank

While Mercantile Bank can help you grow your business through their business loans, they also have several borrowing private banking options at your disposal. These include the following:


This option is available for existing clients of the bank. You are allowed to withdraw more money than your bank balance and repay at a later date. The overdraft features a prime linked interest rate that can change from time to time. You can either use the overdraft facility via cheques, internet banking, or debit card.

Below are some other features of the Mercantile Bank overdraft option:

  • Revolving facility:  You can use the overdraft facility again after each repayment. The facility is reviewed annually.
  • Instant access:  You get instant access to extra funds whenever you need additional cash.
  • Tailored limits:  You can discuss your requirements with the bank’s business manager to determine favourable borrowing limits for yourself.
  • Interest: The interest is calculated daily and charged on your account monthly.
  • Cash flow:  You can access extra working capital if and when you need it.
  • Attractive interest rate: You will only pay interest on the amount you used.

Term loan

The bank offers personal loans that you can use for several purposes, like paying school fees or even paying for a holiday. You can also get a Mercantile Bank debt consolidation loan. The term loan allows you to borrow a specific amount of money that is paid off using an agreed schedule.

Asset finance

You can choose from several options to cover vehicle, fleet, and capital equipment expenses. The bank offers highly competitive rates. The vehicle finance option allows you to buy a car through a private sale or a dealership.

Property finance

Mercantile Bank offers property finance options that are tailored to meet your unique needs. There are several property finance packages that you can use to build your house or real estate project.

If you are a private borrower and are interested in building or buying a home, Mercantile Bank has you covered. The bank offers up to 100% finance if you wish to acquire a home. There is also an insurance option available with the property finance package.

Features of Mercantile Bank personal loans

  • You can borrow from R500 to R200 000;
  • Mercantile Bank Interest rates range from 10,5% to 28;
  • The bank offers flexible financing periods with a maximum of 72 months repayment period; and
  • You can get a decision within a day if you manage to supply all the required details for the loan application.

The Mercantile Bank loan calculator

CompareLoans provides you with a loan calculator. The calculator comes in quite handy when it comes to helping you find out how your repayment will be structured. To make use of the calculator, you have to enter the following details:

  • The amount you want to borrow
  • The length of the repayment period

It is advisable to first use the calculator before applying for a Mercantile Bank loan to get an idea of the overall loan costs involved. Please note that the calculator only gives approximate numbers, which might differ from the bank’s actual terms.

Is Mercantile Bank trustworthy?

If you go through the internet, it is quite clear that Mercantile Bank enjoys a clean reputation. By all means, the bank strives to address every customer’s needs as personally as possible, starting from the application process. They boast a kind service record and attention to detail.

The bank is a legally registered credit provider with highly competitive interest rates as well.

Understanding Mercantile Bank loan charges

The bank offers several loans, but general charges that may apply are listed as follows:

  • Monthly Service Fee: R 69.00
  • Overdraft fee: R 69.00

An initiation fee might also apply. Mercantile Bank also partners with CommRisk Insurance Brokers to offer insurance for your home, car, and personal loan at an additional fee.

How to apply for a loan at Mercantile in South Africa

The loan application process at Mercantile Bank is quite different from other banks. The bank aims to provide specialized services that suit your unique requirements. As a result, the loan application is structured so that all you have to do is leave your contact details online. The bank will then assign a staff member who will guide you every step of the way.

To begin the application process, all you have to do is click the “Go to Site” button on the comparison tables above. Next, fill in a simple online form with your personal details. When you are done, you can wait for the bank to call you or visit them.

Advantages of Mercantile Bank loans

Flexible terms: You can discuss favourable borrowing terms with a Mercantile Bank business manager to manage your loan repayments without struggling.

Competitive interest rates: The bank offers competitive interest rate for all your loan needs.

Peace of mind: With Mercantile Bank, you will know your interest rates and repayment terms before borrowing. This allows you to plan and avoid unnecessary surprises in the future.

Loans that meet your individual needs: When it comes to loans, Mercantile Bank has a good understanding of business and your unique needs. The bank will design perfect business or personal loan terms for you.

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