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Vecto Finance Personal Loan Calculator & Product Overview

A Vecto Finance personal loan could be the option that helps you to reach your next goal in life. Our loan calculator will give you an estimate of your monthly payment so that you can decide which is the better lender for you.

Go ahead and input the loan amount, then adjust the filter to your desired loan term and click calculate. Your estimated monthly payment will be populated.

Calculate 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.

Make a loan application for Vecto Finance loans today

Vecto Finance is an Employee Benefit Solutions Provider that has been in business in South Africa since 1999. So, what makes Vecto Finance the right solution for your financial needs? When you apply for Vecto loans, you can enjoy the following benefits:

  • Reputable financial products from a registered credit provider that is regulated by the National Credit Act;
  • Excellent customer service;
  • Transparency in all your loan deals; and
  • Easy and affordable personal loans.

In this article, shows you what you need and how to make a Vector Finance loan application. Read all the details about how Vecto Finance personal loans work.

A quick overview of Vecto Finance loans

  • You can’t apply for a loan as an individual, only through your employer;
  • The company offers unsecured personal loans;
  • Loan amounts range from R500 to R15 000;
  • Loan terms are available for 6, 12, or 18 months;
  • For more short-term loans you can also get month-end loans (payday loans);
  • Interest rate is 26.2% per annum;
  • Other fees also include a once-off initiation fee and monthly service fees; and
  • You can use these fast, short term funds to renovate your home, buy a car, consolidate your debt, and to cover other financial needs.

How do Vecto Finance loans work?

Vecto Finance personal loans are limited only to Vecto Finance Listed Employers, and the company doesn’t offer any business loans. To access Vector Finance loans, you need to be employed at an approved company for at least 4 months. Vecto Finance works with responsible employers and has created a program where these employers help their workers to get the extra, affordable credit they need to cover a variety of personal needs.

Details of Vecto loans for 6, 12, and 18 months

  • For a 6 months/13 fortnights/26 weeks loan you can choose a loan amount between R500 and R5000. You can also choose a monthly, or weekly or fortnightly instalment, which includes the interest and initiation fee.
  • For a 12 months/26 fortnights/52 weeks loan you can borrow between R500 and R15 000. You can also choose a monthly, weekly, or fortnightly instalment and the total repayment includes interest and other charges.
  • For an 18 months/39 fortnights/78 weeks you can only borrow between R5000 and R15 000.

Details of Vecto payday loans

You can borrow between R500 and R3000, and the initiation fee depends on the amount you borrow. There are no monthly service fees for Vecto month-end loans. In addition, the loan repayment is deducted from your account in one lump sum when your salary comes in. Therefore, month-end loans are not paid off through instalments.

How to use the Vecto Finance loans calculator

The Vecto Finance loans repayment calculator is a comparison tool you can use to pick the most affordable loan. When you enter your loan amount and loan term and then click “Calculate Repayment” the calculator immediately shows you how much your monthly repayments will be. You can get several results from the calculator and compare them to find the loan which best suits your individual needs and budget.

Please Note: The results from the calculator are only an estimation. The interest is charged on your daily balance which gets capitalised at month-end according to the National Credit Act. If you wish to pay less interest, you can pay off your loan quickly. To get a clear idea of repayment instalments, you can look through the Vector Finance repayment tables here (for 6,12, and 18-month term loans) and here (for month-end loans).

What do you need to make a Vecto Finance loan application?

  • Proof of residence – utility bill with your name and address;
  • Valid South African ID or documents for permanent residency;
  • Be 18 years or older;
  • A good credit score, a positive credit history, and an acceptable personal risk profile; and
  • You should be permanently employed for at least 4 months.

How to apply for Vecto Finance loans

If you’re employed by an approved company you can follow these steps to get a Vecto Finance loan:

  1. Ask your Payroll or HR department for a Vecto Finance application form.
  2. Fill in the required information, including your ID number and bank account details.
  3. Also, include a copy of your ID and latest payslip.
  4. Sign the form and submit to HR personnel for them to also sign.
  5. Your application is forwarded to Vecto Finance, and they’ll carry out a credit risk assessment before making a loan offer.
  6. After your loan approval, Vecto Finance will transfer the loan into your bank account in the next 24 hours.
  7. When you pay back the loan, the instalments will be deducted from your salary by your employer and then paid to Vecto Finance.

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