Short-term loan
One repayment, about a month after payout.
- Amount
- R500–R3 000
- First loan up to
- R2 000
- Term
- 1 month
- Example, R1 500 over 1 month
- R1 640.00 total
Short-term, instalment and personal loans
Borrow R500 to R20 000 and repay in one month or over up to twelve. The price list is the same on every loan, so the only real choice is amount and term.
Three loans, one price list
Every loan has the same 2% monthly interest rate, the same initiation fee formula and the same R40 service fee. Pick by amount and by how many months you want to repay.
Instalment loan
Two to six equal monthly instalments.
- Amount
- R1 000–R8 000
- First loan up to
- R5 000
- Term
- 2–6 months
- Example, R3 000 over 3 months
- R3 370.79 total
Personal loan
Seven to twelve equal monthly instalments.
- Amount
- R5 000–R20 000
- First loan up to
- R10 000
- Term
- 7–12 months
- Example, R8 000 over 9 months
- R9 511.12 total
Limits and terms
| Loan | Amount | First loan up to | Term | Repayments |
|---|---|---|---|---|
| Short-term loan | R500–R3 000 | R2 000 | 1 month | One |
| Instalment loan | R1 000–R8 000 | R5 000 | 2–6 months | Equal monthly instalments |
| Personal loan | R5 000–R20 000 | R10 000 | 7–12 months | Equal monthly instalments |
R3 000 three ways
The shorter the loan, the lower the total. The figures below use our published pricing and assume the same amount every time.
| Loan and term | Each repayment | Total to repay | Cost of credit |
|---|---|---|---|
| Short-term loan, 1 month | R3 230.00 | R3 230.00 | R230.00 |
| Instalment loan, 3 months | R1 123.59 (last R1 123.61) | R3 370.79 | R370.79 |
| Instalment loan, 6 months | R597.24 (last R597.27) | R3 583.47 | R583.47 |
What stays the same, and what we don’t do
Always
- A written quote with the exact total before you sign anything
- Repayments collected by DebiCheck on a date matched to your payday
- Early settlement at any time without a penalty
- A full affordability and credit assessment, first loan or tenth
Never
- Fees taken off the money paid to you
- Credit life insurance or other extras added to the price
- Roll-overs, top-ups or a second loan running alongside the first
- Lending to someone under debt review
Choosing a loan
Which loan costs the least?
For the same amount, the one with the fewest months. Interest and the monthly service fee build up with time, so a shorter term always costs less in total, as long as you can afford the repayment.
Can I have two RandLeaf loans at once?
No. One loan at a time keeps your repayments predictable. When it is repaid, you can apply again.
Do returning customers get a lower rate?
No, the rate is the same for everyone. Returning customers can apply for higher amounts, and the proposed RandLeaf Roots programme would reduce the initiation fee by R30. Returning customers.
Do you offer loans for SASSA grant recipients or the unemployed?
No. Our loans need a regular income that can support the repayment. Lending without that would put you at risk of falling behind.
Know the full cost before you decide.
Pick an amount and a term. The calculator shows every rand of interest and fees, and the date order of your repayments.