Supasmartloans.co.za is not a direct lender, we are a broker that offers a loan finding service. Loan terms, conditions and policies vary by lender and applicant qualifications. Late or missed loan payments may be subject to increased fees and interest rates charged by the lender. Not all lending partners offer up to R200,000 loans, and not all applicants will be approved for their requested loan amounts. Loan repayment periods vary by lender also. Lenders may use collection services for non-payment of loans. All finance options are subject to relevant credit checks and personal circumstances. To apply, you must be 18 years or older. Please carefully read the terms and conditions before applying.
Our simple example below will help you see how your loan application and repayment will work.
The following example is completely figurative and is used as an illustration to help you see how
your loan and repayment structure will work. Case study Example: A lender (or any other
creditor) gives someone Loan X of R1,000 at an interest rate of 5% per year with the agreement
it should be repaid over 2 years using 2 annual payments.
In our case study agreement, it states you need to settle the debt according to the above-
mentioned terms and conditions, using 2 annual payments of R537.80. The total is a repayment
amount of R1075.60 (R537.80x2).
But let's say you can earn extra money and want to repay Loan ABC within one year at the same
interest rate. Using a loan calculator, you will see one payment of R1050 is required for that
year. This means your total repayment of Loan ABC over a one year repayment period will be
R25.60 less in comparison to repaying over a 2-year repayment period.
Please note, the above examples use very low rates and unrealistic repayment periods, but we're
keeping it simple so you can understand the basics. Now that you understand a bit more about
loans, we would like to share a simple way for you to apply for a loan.
Working Example
Loan Amount Repayment Term Monthly Repayment Total Repayment Maximum Interest
Minimum Interest
R30,000 12 Months R3,313 R39,756 28% 16%
