Important disclosure

Sanlam Personal Loan Calculator

The Sanlam personal loan repayment calculator will help you calculate the total cost of financing for your proposed personal loan. It calculates the likely monthly loan repayment of a certain loan amount over a stipulated period of time.

This will help you compare loan options among South African lenders. Once you have decided on a loan amount, all you have to do is to input the loan amount, adjust the loan term then click calculate. It’s that simple.

Calculate repayments

Sanlam Personal Loans

Sanlam
24 months
to 72 months
R5,000
to R200,000
21.90%
APR
Whether you need money for unexpected expenses, a medical emergency, or to fund a specific project, Sanlam can offer you a fixed-rate personal loan according to your needs and circumstances. You can apply for any amount, from R5,000 to R200,000. You can tailor your repayment term to suit your budget (from 24 months to 6 years). Repayments are fixed for your full loan term, so that you can budget ahead easily. Sanlam will always take your current financial circumstances into consideration and never lend you more than you can comfortably afford to repay
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 monthly incomeR4,000

Minimum term (months)1 month

Interest rate12.90%

Personal loan APR12.90%

EST monthly repayment (approx)R783

Total repayment amount (approx)R28,188

Total interest & fees paid (approx)R8,188

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

GO TO Capitec Bank

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 of12.07.2020

GO TO Capitec Bank

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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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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 monthly incomeR4,000

Minimum term (months)1 month

Interest rate16.30%

Personal loan APR16.30%

EST monthly repayment (approx)R819

Total repayment amount (approx)R29,484

Total interest & fees paid (approx)R9,484

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

GO TO Capitec Bank

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 of12.07.2020

GO TO Capitec Bank

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.

Find your monthly payments with our Sanlam loan calculator

Taking out a credit with Sanlam may help you solve your financial problems, but at what cost? To answer this question, CompareLoans has created an easy-to-use Sanlam online calculator. We strongly recommend that you use this convenient tool before you borrow money. In addition, Sanlam is a licensed financial services provider, and will lend you money responsibly.

How do you benefit from using our Sanlam personal loan calculator?

  • You know the approximate monthly repayment amount in advance.
  • It allows you to choose the best repayment term.
  • You will be able to compare your options and get the one that is best for you.
  • It lets you know if you’ll be able to afford the credit you want.
  • Getting a loan that you can afford can help you to pay it back quickly and hence improve your credit score.
  • The Sanlam calculator is simple and straightforward to use.
  • It only takes a few minutes for you to make an informed decision.

How to make use of the Sanlam loan affordability calculator

The tool is very easy to use:

  1. It has two sliders that allow you to choose the term (or duration) and the amount of money you want to borrow. To do this, move the sliders either left or right.
  2. After you select your amount and repayment duration, you can click “Calculate Repayment.”
  3. The monthly repayment result will be displayed within a few seconds.
  4. You should know, however, that the monthly instalment suggested here is only an estimate and the actual figure from Sanlam might be a little different. The tool only serves to give you an idea of how much the payment might be so that you can plan ahead.

How to use the Sanlam loan calculator to get the total cost of your credit

To calculate the total cost of your debt, you need to know the monthly instalment and the number of months in your repayment period. Below is an example of how you can calculate the cost of your Sanlam loan:

  • Total credit amount: R1000
  • Repayment period: 5 months
  • Monthly repayment: R250

To obtain the total repayment amount, multiply the number of months (repayment period) with the monthly repayment amount. Using the example above, the calculation goes like this:

  • R250 x 5 = R1250
  • That means it will cost you R1250 to borrow R1000 over 5 months. If you want to use the money for investment, you can check if what you want to do is profitable by looking at this total cost.

How does using the loan calculator improve your credit score?

The tool will help you to know your monthly instalment amount. This number is very important because you can use it to find out whether a credit fits into your budget. It will help you avoid taking out loans that are more than what you can afford. That means:

  • If you stick to borrowing money you can afford to repay easily, you’ll not have a problem to pay it back. Paying your monthly instalments is one of the crucial things you can do to improve your credit score long term. Lenders use credit scores as a risk management tool.
  • If you take out a credit without knowing whether you can afford it or not, you might end up struggling to make repayments which can negatively affect your credit score.

Using the Sanlam personal loan calculator to consolidate your debt

Sometimes you can take out so much credit that payments start to overwhelm you. If you have too many, it may be difficult to keep track of all these payments. Sometimes the deductions can leave you with little to spend at the end of the month. Luckily, a Sanlam loan can help you consolidate your debt:

  • You can use the Sanlam loan calculator to choose the best debt consolidation loan for you.
  • This credit will then cover your existing debt and combine all of your monthly instalments into one.
  • The Sanlam consolidation loan calculator will show you your monthly payment.
  • That means you’ll be able to see if this move will help you save money and make the repayment process more comfortable.
  • If the Sanlam loan offers better terms and a more affordable monthly payment, you can go ahead with the debt consolidation process.

A quick overview of Sanlam personal loans

How much can you borrow? – Amounts range from R5000 up to R200 000. Sanlam will perform a credit check to ensure you’re only approved for an amount you can afford.

What is the length of the credit? – Repayment term range between 1 and 6 years.

What are the main features of Sanlam personal loans? – Firstly, they are unsecured and have a fixed interest rate of 24.50% maximum. Secondly, they come with credit life insurance, and there is a loyalty program called Sanlam Reality that gives you some of your cash back when you make repayments on time. The institution also offers a short term insurance cover, should you need it.

What to do after using the Sanlam personal loan calculator – After you use the Sanlam loan repayment calculator, you can apply online for your personal loan. Scroll up this page to the comparison tables where you’ll find the “Go to Site” link for Sanlam’s website. There, you’ll be able to fill in an application form and upload the required documents.

What are the other requirements for Sanlam online loan application?

  • A clear copy of your green, barcoded South African ID book or Smart ID card;
  • Your previous 3 months’ consecutive bank statements or payslips; and
  • Your personal bank account details (where your salary is paid).

More about Sanlam in this short video

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