The complete price
Interest is 3% per full month on the outstanding principal. The once-off initiation fee is R60.00 and the service fee is R30.00 per full month. Fees include any applicable VAT; no tax is added to the displayed total. There is no compulsory credit life insurance. Partial-month charges and actual repayment dates are set out in your final quotation.
| Charge | Lendeka price | How it works |
|---|---|---|
| Interest | 3% per full month | Calculated on the outstanding principal. No interest is charged on fees in this estimate. |
| Initiation fee | R60.00 once per new loan | Included in the first repayment. An eligible Together benefit reduces this to R30.00. |
| Service fee | R30.00 per full month | Covers administration of the loan. Part-month charges are pro rata in the final quotation. |
| Credit life insurance | R0.00 | Not compulsory and not charged in this product. |
| Application / membership fee | R0.00 | No fee to use this site or take part in Together. |
First-loan example
| Cost | Amount |
|---|---|
| Amount paid to you | R1 500.00 |
| Interest: 3% for one full month | R45.00 |
| Initiation fee | R60.00 |
| Service fee: one full month | R30.00 |
| Credit life insurance | Not charged |
| Total to repay | R1 635.00 |
The cost of borrowing is R135.00: R45.00 interest plus R90.00 in fees. You receive the full R1 500.00. No fee is paid to release the loan.
Returning with Together
| Cost | Amount |
|---|---|
| Amount paid to you | R1 500.00 |
| Interest: 3% for one full month | R45.00 |
| Initiation fee after R30 Together benefit | R30.00 |
| Service fee: one full month | R30.00 |
| Credit life insurance | Not charged |
| Total to repay | R1 605.00 |
The R30 benefit reduces the initiation fee only. Interest and service fees stay the same. Eligibility and programme conditions apply.
How the estimate is calculated
The calculator divides the principal into equal portions across the chosen number of months. The last principal portion takes any remaining cent. Interest is calculated at 3% of each period’s opening principal balance and rounded to the nearest cent. The initiation fee is paid in the first period; a service fee is included for each full period.
It uses full monthly periods rather than calendar dates. Your quotation will show the actual dates, day-count method and any partial-month adjustments. Ask for an updated quotation if an amount or payment date changes.
If a repayment is late
A late payment can affect your credit record and leave a balance outstanding. Any permitted default-administration or collection charges must have a lawful basis and be explained in your agreement. They are not included in an on-time repayment estimate. Do not assume a missed payment is automatically deferred.
Read what to do if you may miss a payment. To pay off a loan ahead of schedule, ask for a dated settlement figure.
Compare the whole term
| Full monthly periods | Repayments in order | Interest | All fees | Total to repay |
|---|---|---|---|---|
| 1 | R1 635.00 | R45.00 | R90.00 | R1 635.00 |
| 2 | R885.00 · R802.50 | R67.50 | R120.00 | R1 687.50 |
| 3 | R635.00 · R560.00 · R545.00 | R90.00 | R150.00 | R1 740.00 |
The same R1 500 first loan across three repayment terms
1 month
Total to repayR1 635.00
- Month 1 repayment
- R1 635.00
- Total interest
- R45.00
- All fees
- R90.00
2 months
Total to repayR1 687.50
- Month 1 repayment
- R885.00
- Month 2 repayment
- R802.50
- Total interest
- R67.50
- All fees
- R120.00
3 months
Total to repayR1 740.00
- Month 1 repayment
- R635.00
- Month 2 repayment
- R560.00
- Month 3 repayment
- R545.00
- Total interest
- R90.00
- All fees
- R150.00
Lendeka first-loan model: R1 500 paid to you, 3% per full month on the outstanding principal, R60 initiation fee, R30 service fee per full month. Fees include applicable VAT. No insurance premium or Together benefit. Repayments made on time. Actual dates and partial periods are set out in your quotation.
Read why the first payment is higher. If a term is unfamiliar, use the plain-language loan glossary.
Sources and further reading
Sources checked on 28 October 2026. This page explains general information; your agreement and applicable law govern your loan.