Low Budget Loans offers a wide range of loan amounts and various repayment terms.
(All costs and interest is included, credit life excluded):
Total Repay = Borrowing + Costs & Interest Rate
Costs & Interest Rate, Installment and Total Repay are estimated values.
Interest is calculated on the monthly outstanding balance..
All the rates and fees fall within the prescribed “Short term Credit Transactions” as published in the National Credit Act 34 of 2005.
Interest Rates – The APR (Annual percentage rate for qualifying clients will be 28% per annum)
Initiation fees – This is the maximum initiation fee we are allowed to charge
R165.00 + VAT per credit agreement, plus 10% of the amount of the agreement in excess of R1000.00, but never to exceed R1050.00 This amount exclude VAT and must also be added to the fee.
Service fee – This is a monthly service fee
R60.00 + VAT (Pro Rata)