Instalment loan: R1 000 to R8 000 over 2 to 6 months

Spread a bigger cost over a few months with a fixed instalment on the same date each month. The total is shown before you apply.

R1 000–R8 000
2–6 months
2% a month
First loan up to R5 000

Calculate the cost Requirements

A stem with a few leaves: several monthly instalments

A bigger amount, in equal monthly steps

An instalment loan is for a cost you’d rather not carry in one month: school uniforms, a deposit, a car repair. Every instalment is the same amount, except that the last one may differ by a few cents because of rounding.

Amount: R1 000 to R8 000, in steps of R100
First RandLeaf loan: Up to R5 000
Term: 2–6 months, repaid in equal monthly instalments
Interest: 2% a month (24% a year), charged only on the part of the loan you still owe
Initiation fee: R50 plus 4% of the amount above R1 000, charged once and never earning interest
Service fee: R40 a month
Insurance: None charged
Settling early: Allowed at any time, with no penalty
Loans at once: One RandLeaf loan at a time; no top-ups or roll-overs
Type of credit: Short-term credit transaction under the National Credit Act

The same R3 000 over 3 and over 6 months

A longer term lowers each instalment but raises the total, because you owe money for longer and pay the service fee every month.

Instalment loan: R3 000 over 3 months, first loan

Worked example · pricing RL-PRICE-2026-10

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.

Instalment loan: R3 000 over 6 months, first loan

Worked example · pricing RL-PRICE-2026-10

You receive: R3 000.00
Interest at 2% a month: R213.47
Initiation fee, once: R130.00
Service fee, R40.00 × 6: R240.00
Cost of credit: R583.47
Total to repay: R3 583.47

5 × R597.24, then a final R597.27.

Over 6 months you pay R212.68 more

The instalment drops from R1 123.59 to R597.24. Choose the shortest term you can comfortably afford.

Every repayment: R5 000 instalment loan over 4 months, first loanMonths are counted from payout. Fees are the initiation fee share plus the monthly service fee. Pricing version RL-PRICE-2026-10.
Period	Balance owed	Principal	Interest	Fees	Repayment
Month 1	R5 000.00	R1 213.12	R100.00	R92.50	R1 405.62
Month 2	R3 786.88	R1 237.38	R75.74	R92.50	R1 405.62
Month 3	R2 549.50	R1 262.13	R50.99	R92.50	R1 405.62
Month 4	R1 287.37	R1 287.37	R25.75	R92.50	R1 405.62
Total		R5 000.00	R252.48	R370.00	R5 622.48

Estimate a instalment loan

Move the amount and the term. The total, every repayment and each fee update as you go. Nothing you enter is saved or sent anywhere.

Open the full calculator with the repayment schedule

Estimate your repayments

See an estimate of your repayments before you continue. Your final offer depends on the lender’s assessment.

Estimate · not a quote

Example: R3 000 over 3 months, first loan

Total to repay

R3 370.79

2 × R1 123.59, then a final R1 123.61.

See every cost

You receive: R3 000.00
Interest at 2% a month: R120.79
Initiation fee, once: R130.00
Service fee, R40.00 × 3: R120.00

This is an estimate, not a loan approval. All applications are subject to credit and affordability checks. Pricing version RL-PRICE-2026-10, reviewed 30 October 2026.

See the full schedule Apply online

Paid partner link. RandLeaf’s own applications aren’t open yet, so this goes to a partner’s application. The partner’s amounts, rates and fees can differ from the RandLeaf examples here. How this works.

Interest falls as the balance falls

Each month, interest is 2% of the principal you still owe. Part of every instalment pays that interest and the rest pays down the loan, so the interest share shrinks each month while the instalment stays level.

The initiation fee is split evenly over your instalments and is never added to the interest-earning balance. The R40 service fee is part of every instalment.

In the 4-month example above, interest is R100.00 in the first month and R25.75 in the last. Read the full pricing rules, including how we round to the cent.

When instalments help, and when they don’t

It can fit when

You need between R1 000 and R8 000 for a planned or urgent cost
A fixed amount each month is easier to budget than one big repayment
The instalment fits your budget for the whole term, not only the first month

Think again when

You could repay in one month: a short-term loan costs less in total
You’re choosing the longest term only to make the instalment look small
Other debt repayments are already hard to keep up with

How you apply

RandLeaf’s own online application service isn’t open yet. Until it is, the Apply online button takes you to a partner’s application through the LeadGid affiliate network. How the partner route works.

You’ll be asked for your ID number, income, expenses and bank details there, and every application is assessed before an offer is made. A previous loan does not guarantee approval.

Apply online

See the four steps Check the requirements

Instalment loan questions

Why is the last instalment slightly different?

We round each month’s interest to the cent. The last instalment absorbs those cents so that the total you repay is exact. The difference is shown in the calculator and in your quote.

Can I pay an instalment early or pay extra?

Yes. Paying extra reduces the principal, so you pay less interest afterwards. Contact us first so the payment is allocated correctly. Paying extra.

Can I settle the loan before the end?

Yes, at any time and with no penalty. You pay the principal still owed plus interest and fees up to that day. Early settlement.

Can I borrow more halfway through?

No. We don’t top up an existing loan. Once your loan is repaid you can apply again, and a new application is assessed from the start.

How is the instalment date chosen?

You choose a date that matches your payday during the application. It is the same date every month and appears in your DebiCheck request.

Loans and costs

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