Remember, only borrow what you NEED and aim to repay as quickly as possible. Enter this amount into our calculator and it’ll tell you how much you can afford to borrow. Have a bank account into which your income is paid. Always base your borrowing on what you can comfortably afford to repay (preferably after doing a budget), as borrowing too much can cause debts to spiral out of control. Interest rates are usually fixed which means what you pay will always be the same throughout the term of the loan. To apply for a personal loan over 12 months or more, you need to: Earn a regular monthly income of at least R2 000 per month.Most loan terms run from one year up to five years - the longer your loan, the more interest costs you will pay overall so having a shorter term is better for you financially.But if you later default on the loan, you could lose your property. Some lenders require security, others do not - generally, interest rates will be lower if you can provide security. Personal loans usually have a maximum amount you can borrow, typically around $20,000.If youre looking for a loan, check out the best-buy rates below.

You can adjust the loan amount, term, interest rate, and payment frequency to find the best option for you. Use the slider controls to change your monthly payment, loan amount, interest rate or term. It can also tell you how much a loan would cost you. Use this calculator to see the monthly payments and total cost of a personal loan with different loan details and origination fees. Use this calculator to look at a variety of possible loans. Simply plug in the best-buy rates below and how much you can comfortably afford each month. But be aware that personal loans often can be costly, and you will need to know exactly what you're signing up for. Find out with our unique Personal Loan Calculator.Unless you have a decent level of savings, a personal loan is the only way to get the financing in place to buy what you want.Many New Zealanders apply for personal loans to pay for a large purchase, usually a car, home improvements, a wedding or even a holiday.If you have security over your loan, if you do not keep up with repayments, your security will be repossessed - this could mean losing your car, boat or another asset. Know this: Missing a payment on a personal loan will have severe consequences on your credit history and will likely make borrowing in the future far more difficult

Personal loan calculator