Loan calculator
See the total, every repayment and each fee.
Loan costs and fees
One interest rate, one initiation fee formula and one monthly service fee, on every RandLeaf loan. Here is what each one is for and how to add them up yourself.
- 2% a month
- Initiation from R50
- Service R40/month
- No insurance charged
Four lines, nothing hidden
A RandLeaf loan has three charges on top of the amount you borrow. There is no fourth one waiting in the small print.
- Interest
2% a month (24% a year). Each month it is worked out on the principal you still owe at the start of that month, so the interest part shrinks as you repay. Same rate on every product. Same for new and returning customers. Interest carries no VAT.
- Initiation fee
R50 plus 4% of the amount above R1 000, once per loan. It pays for checking and setting up your application. Nothing comes off your payout. Instead the fee is split evenly across your repayments, and because it never joins the balance that earns interest, you pay no interest on it at all. RandLeaf Roots, once active, would take R30 off it for eligible returning customers.
- Service fee
R40 for each month of the loan. It covers running the loan: statements, debit orders, your questions. One month, one fee. A 12-month loan pays it twelve times, which is the main reason a long term costs noticeably more on a small amount.
- Total to repay
What you borrow plus every rand of interest and fees. Compare lenders on this number, not on the monthly instalment. It always equals the sum of your scheduled repayments, to the cent.
- Not charged
No application fee, no membership, no credit life insurance, no early settlement penalty and no fee deducted from the money paid to you.
- VAT
Our published fees are final amounts and already include any VAT that applies. Nothing is added on top.
Two loans, every line
Short-term loan: R1 500 over 1 month, first loan
- You receive
- R1 500.00
- Interest at 2% a month
- R30.00
- Initiation fee, once
- R70.00
- Service fee, R40.00 × 1
- R40.00
- Cost of credit
- R140.00
- Total to repay
- R1 640.00
One repayment of R1 640.00 about a month after payout.
Instalment loan: R3 000 over 3 months, first loan
- You receive
- R3 000.00
- Interest at 2% a month
- R120.79
- Initiation fee, once
- R130.00
- Service fee, R40.00 × 3
- R120.00
- Cost of credit
- R370.79
- Total to repay
- R3 370.79
2 × R1 123.59, then a final R1 123.61.
The same loan with and without RandLeaf Roots
Both columns use the same amount, term and returning-customer pricing. The only difference is the proposed R30 reduction in the initiation fee. The programme is not active yet.
Without loyalty benefit
Instalment loan, R3 000, 3 months
- You receive
- R3 000.00
- Interest at 2% a month
- R120.79
- Initiation fee, once
- R130.00
- Service fee, R40.00 × 3
- R120.00
- Total to repay
- R3 370.79
2 × R1 123.59, then a final R1 123.61.
With loyalty benefit
Instalment loan, R3 000, 3 months
- You receive
- R3 000.00
- Interest at 2% a month
- R120.79
- Initiation fee before benefit
- R130.00
- RandLeaf Roots benefit
- −R30.00
- Initiation fee charged
- R100.00
- Service fee, R40.00 × 3
- R120.00
- Total to repay
- R3 340.79
2 × R1 113.59, then a final R1 113.61.
Difference: R30.00 less to repay, because the initiation fee drops by R30.00. Interest and service fees are the same in both columns.
Our prices and the regulated ceilings
The National Credit Act regulations set the most a lender may charge. A ceiling is a limit, not a price, and being below it is a requirement, not a favour.
| Charge | RandLeaf | Regulated maximum |
|---|---|---|
| Interest | 2% a month on the outstanding principal, on every loan | Short-term credit: 5% a month on a first loan in a calendar year and 3% on later ones. Unsecured credit: the repo rate plus 21% a year, which is 28.25% a year while the repo rate is 7.25%. |
| Initiation fee | R50 + 4% above R1 000 (for example R210 on R5 000) | R165 plus 10% of the amount above R1 000, never more than R1 050 or 15% of the principal debt |
| Service fee | R40 a month, including any VAT | R60 a month plus VAT |
Source: Government Gazette 39379, GN 1080.
How a price change works
Prices are published as a numbered version with a review date. The current version is RL-PRICE-2026-10, reviewed on 30 October 2026, with the next review due by 31 January 2027. If the version changes, every example, the calculator and this page change together.
Your signed agreement fixes your price. A later change to the published price list doesn’t change a loan you already have.
If a repayment is missed
Interest keeps running on the principal still owed, at the agreed rate. Default administration charges and collection costs can only be charged as the National Credit Act allows and as your agreement states. The best way to avoid them is to talk to us early.
Cost questions
Why does a one-month loan look expensive as a percentage?
Because the initiation and service fees are fixed amounts. On R1 500 for one month they are R110.00 of the R140.00 cost. In rand, it is the total that matters.
Is the interest rate fixed?
Yes. The rate in your agreement stays the same for the whole loan.
Do you deduct fees from the payout?
No. You receive the full amount you borrow. Fees are part of your repayments.
What is the annual rate?
2% a month is 24% a year as a simple rate on the reducing balance. Your quote also shows the total cost of credit in rand, which is easier to compare.
Related pages
What a loan really costs
The parts of a loan’s price and how to add them up to the total you repay.
Credit life insurance
We don’t charge for credit life cover. What it is and what to check elsewhere.