Loan Affordability Calculator
Your might be able to qualify for a Loan amount of
This loan affordability calculator will calculate the amount you can borrow from your financial provider given the amount you can or are willing to pay every month during your loan term.
It is simple just follow the steps below
- Enter the amount you can afford to repay every month.
- Enter the interest rate your will be charged.
- Enter the loan term in months
- Enter the monthly fees (see note below)
Note on fees :(The maximum monthly fee banks or loan providers can charge are currently R68,40 inclusive of VAT) You can leave this blank or 0 but for a more accurate indication of the amount you might be able to loan it is strongly advised to complete this. We have defaulted the amount to R68,40 already. Any amount above R0.00 will be deducted from the amount you can pay. If you are not worried about the fees just make it R0.00
Some loans may have insurance and other costs as well.
Just a reminder what you think you can afford might not be what your financial provider thinks you can afford, so be realistic.
Loans come with various initiation fees & costs as well. Sometimes the banks are willing to finance these costs and sometimes they have to be paid separately.
When taking loan affordability into account one has to be aware that the monthly repayments are not the only cost in keeping, running and maintaining an asset.
Property and Cars require maintenance, Rates & Taxes have to be paid. Insurance cost must be taken into account