Costs and fees
Interest, initiation fee and service fee, each explained.
Loan calculator
Pick a loan, an amount and a term to see the total to repay and a month-by-month schedule. Nothing you enter is stored or sent.
Work out 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.
- 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
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.
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.
Printed estimate from randleaf.co.za. Not a quotation, credit agreement or approval. Pricing version RL-PRICE-2026-10.
| Period | Balance owed | Principal | Interest | Fees | Repayment |
|---|---|---|---|---|---|
| Month 1 | R3 000.00 | R980.26 | R60.00 | R83.33 | R1 123.59 |
| Month 2 | R2 019.74 | R999.87 | R40.39 | R83.33 | R1 123.59 |
| Month 3 | R1 019.87 | R1 019.87 | R20.40 | R83.34 | R1 123.61 |
| Total | R3 000.00 | R120.79 | R250.00 | R3 370.79 |
What this estimate is
This is an estimate, not a loan approval. All applications are subject to credit and affordability checks. Your real offer comes in a written quote, and it can be for a different amount, term or date.
How the estimate is calculated
Every figure comes from one public price list, version RL-PRICE-2026-10, reviewed on 30 October 2026.
- Interest for each month is 2% of the principal still owed at the start of that month, rounded to the nearest cent.
- For loans of two months or more, the principal and interest part of each instalment is a level amount, rounded to the cent. The last instalment repays whatever principal is left, so it can differ by a few cents.
- The initiation fee is R50 plus 4% of the amount above R1 000. It is split evenly across the repayments; any leftover cent goes on the last one. It never earns interest.
- The R40 service fee is added to every monthly repayment.
- The total to repay is the sum of every repayment, so it always matches the schedule to the cent.
Months are counted from payout. Your actual dates, and any small difference from a short first month, are set out in your quote and agreement.
What the calculator doesn’t know
It doesn’t know your income, credit record, payday or bank, and it doesn’t check whether you qualify. It never saves what you enter or sends it anywhere. Choosing “Returning customer” is only a way to see that example; it doesn’t confirm that you are one.
The starting example in full
If the calculator can’t run on your device, this is the example it starts with. Every other page uses the same pricing.
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.
Related pages
Compare two loan offers
A worksheet and a method for finding the cheaper of two written quotes.
Requirements
Age, ID, your own bank account, an income you can show and room in your budget.