When you decide to take out a Sanlam Personal Loan*, our consultants will determine your interest rate and initiation fee according to your personal risk profile. Your loan repayment term can range from 12 months to 6 years, and the interest rate is between 16% and 29.25% per annum (compounded monthly).

Let’s look at an illustrative example of a loan at an interest rate of 24.5% per annum: The loan amount is R50 000 plus a once-off initiation fee of R1 207.50 and a monthly admin fee of R69, over 6 years. This means that the total cost of the loan will be R102 085.93, which is a maximum Annual Percentage Rate (APR) of 27.29%.

*Loans are subject to the National Credit Act, No 34 of 2005.Registered Credit Provider (NCRCP272)

Use the handy calculator below to get an indication of what your monthly repayments could be: