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RCS Personal Loan Repayment Calculator

Our RCS personal loan calculator below will help you determine the total cost of financing your RCS personal loan. It calculates the likely monthly loan repayment of a certain loan amount over a stated period of time.

This will help you to better compare loan options among South African lenders. All you have to do is to input the loan amount, adjust the loan term then click calculate. It’s that simple. Try it!

Calculate repayments

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%. Apply via MoneyShop, they will help to ensure you're matched the best lender suited to you.

Overview

Minimum monthly incomeR2,000

Minimum term (months)12 months

Interest rate15.00%

Personal loan APR15.00%

EST monthly repayment (approx)R796

Total repayment amount (approx)R28,656

Total interest & fees paid (approx)R8,656

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR936.50

GO TO RCS

Other Fees & Information

Monthly feeR69.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored Yes

Data accurate as of18.01.2020

GO TO RCS

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MoneyShop find the best loan suited to your profile with SA’s top loan providers. They have partnered with SA’s top personal loan providers to make your online application process quick and easy! Have a regular income of more than R4,000, bank statements and your SA ID? Apply online today.

Overview

Minimum monthly incomeR4,000

Minimum term (months)12 months

Interest rate15.00%

Personal loan APR12.90%

EST monthly repayment (approx)R805

Total repayment amount (approx)R28,980

Total interest & fees paid (approx)R8,980

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

GO TO MoneyShop

Other Fees & Information

Monthly feeR69.00

Other feesR0.00

Redraw facilityn/a

Repayment scheduleMonthly

Early repayments allowedYes

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored Yes

Data accurate as of26.10.2020

GO TO MoneyShop

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Go through Fincheck's online application to get matched with personal loan provider that's best suited to your credit score and personal circumstances. Easy online application.

Overview

Minimum monthly incomeR4,000

Minimum term (months)12 months

Interest rate16.00%

Personal loan APR16.00%

EST monthly repayment (approx)R815

Total repayment amount (approx)R29,340

Total interest & fees paid (approx)R9,340

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

GO TO Fincheck

Other Fees & Information

Monthly feeR69.00

Other feesR0.00

Redraw facilityn/a

Repayment scheduleMonthly

Early repayments allowedYes

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored Yes

Data accurate as of26.10.2020

GO TO Fincheck

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?

Use the RCS loans calculator for your personal loan budget

At CompareLoans, we have created this RCS loan repayment calculator for your convenience. You can use it as a free and matching tool for your RCS personal loan in South Africa.

The online calculator is designed to give you a quick estimate of your monthly repayments which depends on the amount and term you choose. We strongly recommend that you spare a few minutes to find out how the calculator works before making your application with RCS.

Why is using this loan calculator a smart move?

RCS is a reputable and responsible lender that fully supports you as a responsible borrower. Above everything, that means choosing and applying for finance you can afford to pay back. It might be exciting to receive your lump sum of cash. However, when the repayments are due, you should also be fully prepared to fit them into your monthly budget.

The RCS credit calculator helps you to do this, plus more.

How to use the RCS loans repayment calculator

In order to calculate your monthly repayment amount, two values are needed. The first is the amount of money you wish to borrow which is also the amount. The second piece of information is the amount of time you will need to make repayments. This is the term, or duration. With this information on hand, here’s what to do next:

  • Use the first sliding tool on the calculator to choose your desired amount.
  • Select the number of months using the second sliding tool.
  • Click “Calculate Repayment.”
  • Check out the instant result in the repayment table. If you want a better result, change your values and repeat the process.
  • Please note that the results given by the loan calculator might not be the exact ones you will get on your RCS offer. They’re a close estimate designed to give you an idea of what to expect when repaying your debt. Other factors, like a personalised interest rate, can create small differences.

Advantages of the RCS loans calculator

  • Available online – That means you can access the calculator any time and from anywhere as long as your phone or PC can connect to the internet.
  • Free to use – You will not be charged for using this convenient service.
  • Easy to use – The calculator has a simple function that makes it user-friendly.
  • Fast results – You can find the result you’re looking for in as little as seconds.
  • Unlimited use – You might not always get the perfect result on your first try, but it has unlimited use, so play around with the numbers and keep trying.

What are the benefits of knowing your monthly repayments?

There are several reasons why you should know your repayments before borrowing. Some of them include:

  • You can decide if the credit fits into your monthly budget by looking at your current expenses;
  • Knowing your monthly instalment amounts also lets you compare products and decide which one is best for your budget;
  • All in all, it helps you to keep control of your finances. By choosing a monthly payment that works, you’re less likely to come across cash flow problems.

The RCS loan calculator can help estimate the total cost of your credit

If you know how much you are supposed to pay monthly, it will be easier to find out whether the loan is expensive or affordable, overall. To get a good idea of the total cost of your credit, simply multiply the monthly repayment amount with the number of months it will take for you to finish the repayment. Below is an example:

  • Loan amount: R7 500
  • Loan term: 24 months
  • Monthly instalment: R542

In this example, the total cost is calculated by multiplying your monthly instalment (R542) with the number of months (24): R542 x 24= R13 008. For this instance, the interest rate is 24.5%, while the monthly service fee is R69.

Both these charges are included in the monthly payment result from the calculator. However, there is also an initiation fee of R1207 which is paid upfront for the same loan. That means you might need to add all upfront fees to the overall costs to get a more accurate estimate.

The RCS loan calculator and your credit score

Knowing monthly instalments beforehand will prepare you for the loan repayments. This helps to ensure that you pay back your debt on time. Making your payment on time will, in turn, help to improve your credit score as time goes on. This is because you’ll be building a positive track record that shows lenders how trustworthy you are.

Additionally, you can enjoy even more benefits such as lower interest rates and easy approval on any future credit requests.

Important tips to remember when using the calculator

While the loan calculator will give you valuable information, you should make use of that information properly for best results:

  • Ensure that you only choose a amount you need. Even if you can afford the monthly repayments, debt comes at a cost, some of which may be unnecessary.
  • Lower monthly payments don’t always mean cheaper finance. Choose the highest monthly repayment amount you can afford. You’ll be able to pay off your personal loan quicker, which can save you from paying a lot of interest.

How to make your credit application after using the RCS loan repayment calculator

In the repayment table above, click the “Go to Site” button. Once you’re on the RCS website, you can begin the online application process, which also has the following general requirements:

  • Be 18 years and older;
  • Have a valid government-issued South African ID;
  • Your monthly salary should be above R2000;
  • Valid South African bank account; and
  • Proof of income – latest payslips and bank statements.

About RCS banking app

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