Short-term loan
R500–R3 000, one repayment after about a month.
What does a R1 000 loan cost?
Borrowing R1 000 costs between a little over R100 and a few hundred rand, depending mainly on the term. Here is each option in full, before you apply.
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.
- 1 month: R1 110.00 total
- Instalments: 2–6 months
- 2% a month
- You receive the full R1 000
Every way to borrow R1 000, priced in full
R1 000 fits two RandLeaf loans: a short-term loan repaid once after a month, or an instalment loan over 2 to 6 months. Here is the total for each, worked out with our published pricing.
| Loan and term | Each repayment | Interest | Fees | Total to repay |
|---|---|---|---|---|
| Short-term loan, 1 month | R1 110.00 | R20.00 | R90.00 | R1 110.00 |
| Instalment loan, 2 months | R580.05 | R30.10 | R130.00 | R1 160.10 |
| Instalment loan, 3 months | R403.41, last R403.45 | R40.27 | R170.00 | R1 210.27 |
| Instalment loan, 4 months | R315.12, last R315.14 | R50.50 | R210.00 | R1 260.50 |
| Instalment loan, 5 months | R262.16 | R60.80 | R250.00 | R1 310.80 |
| Instalment loan, 6 months | R226.86 | R71.16 | R290.00 | R1 361.16 |
The one-month loan costs R110.00 in total. Spreading the same R1 000 over six months costs R361.16, which is R251.16 more, for a smaller repayment of R226.86 a month.
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.
R1 000 over three months
The three-month instalment loan in full. The principal and interest part is level each month, the initiation fee is split across the three repayments and the R40 service fee is added every month.
| Period | Balance owed | Principal | Interest | Fees | Repayment |
|---|---|---|---|---|---|
| Month 1 | R1 000.00 | R326.75 | R20.00 | R56.66 | R403.41 |
| Month 2 | R673.25 | R333.28 | R13.47 | R56.66 | R403.41 |
| Month 3 | R339.97 | R339.97 | R6.80 | R56.68 | R403.45 |
| Total | R1 000.00 | R40.27 | R170.00 | R1 210.27 |
On a small loan, the fees are most of the price
Interest on R1 000 is small: R20.00 for one month at 2%. The R50.00 initiation fee and the R40.00 service fee are fixed amounts, so they make up 82% of the cost of a one-month R1 000 loan.
Over six months the service fee is charged six times, and fees are still 80% of the cost. That is why the term matters more than the rate on a loan this size.
The fixed fees also mean a smaller loan isn’t much cheaper. Borrowing R500 for a month costs R100.00, only R10.00 less than R1 000. That isn’t a reason to borrow more: you still repay every rand you borrow. A lower percentage on a bigger loan is not a saving.
Need a little more than R1 000? Amounts go up in R100 steps. R1 200 for one month comes to R1 322.00.
Check that R1 000 fits your month
- Write down what comes in and every essential going out. The free budget planner does this on one page.
- Compare what is left with the repayment: R1 110.00 in one go, or R403.41 a month over three months.
- Leave a margin for a bad month. If the repayment uses up everything that is left, borrow less or wait.
First loan?
R1 000 is within the first-loan limit of both products: up to R2 000 on a short-term loan and up to R5 000 on an instalment loan. Personal loans start at R5 000, so they don’t apply to R1 000.
Change the term and see the total move
The calculator starts at R1 000 for one month. Switch to an instalment loan to spread it out, and watch the total change with each extra month.
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: R1 000 over 1 month, first loan
Total to repay
R1 110.00
One repayment of R1 110.00 about a month after payout.
See every cost
- You receive
- R1 000.00
- Interest at 2% a month
- R20.00
- Initiation fee, once
- R50.00
- Service fee, R40.00 × 1
- R40.00
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.
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.
R1 000 loan questions
Can I get R1 000 on my first RandLeaf loan?
Yes. Both the short-term loan and the instalment loan allow R1 000 on a first loan. Whether you are approved, and for how much, depends on the affordability assessment.
Do you take the fees off the R1 000?
No. You receive the full R1 000. The initiation and service fees are part of your repayments.
Why does six months cost so much more than one?
Because the R40 service fee is charged every month and interest runs for longer. Over six months that adds R251.16 to the cost of R1 000.
Is there a cheaper way to borrow R1 000?
With RandLeaf, the shortest term you can comfortably afford costs the least. If you are comparing with another lender, line up the total to repay for the same amount and term. How to compare two offers.
Can I repay early if I get paid sooner?
Yes, with no penalty. You pay what is owed up to that day. Early settlement.
Related pages
Instalment loan
R1 000–R8 000 in 2 to 6 equal monthly instalments.
Loan calculator
See the total, every repayment and each fee.
