A personal loan can help you fund exciting opportunities, from launching side hustles to covering important expenses. But before you apply, it’s important to plan smart

That’s where Capfin’s personal loan repayment calculator comes in. It’s a quick and easy way to get a clear picture of your estimated repayments and how the loan could fit into your budget.

Here’s how it works and why it’s a helpful step in your financial planning! 

A personal loan repayment calculator is an online tool that helps you see what your monthly instalment might be. The results are based on factors like the loan amount, interest rate, and repayment term.

Capfin’s calculator gives you a simple way to understand the potential costs of a loan, helping you make informed financial decisions. Here’s how it can support your planning:

A repayment calculator gives you a clear idea of your estimated monthly instalments, helping you see if you can comfortably afford the loan.

Not sure what your budget should be? Our step-by-step guide can help you create an effective one-page budget to help you take the first step towards financial wellness.

The Capfin calculator allows you to adjust the repayment period and see how shorter and longer loan terms can impact your estimated monthly instalments.

A shorter term means higher monthly payments but lower overall interest, while a longer term has lower instalments but a higher total overall with interest.

The calculator can guide you in deciding how much to borrow by showing how different loan amounts affect your monthly repayments. This helps you choose a loan amount that aligns with your income and expenses

To get an accurate estimate by using our calculator, you’ll need to enter a few important details such as:

●       The loan amount that you plan to borrow.

●       The loan repayment period and how that influences your estimated monthly loan instalment

Once entered, the calculator will generate your estimated monthly repayment, total loan cost, and interest, giving you confidence and clarity before you apply.

Using our loan repayment calculator is simple and easy. Here’s a step-by-step guide to help you:

Go to the Capfin website homepage and find the loan calculator on the homepage or login into your Capfin account

Use the slider to get to the amount you’re considering for your loan.

Select how long you’d like to take to repay the loan (e.g. 6 or 12 months).

The calculator will instantly show your estimated monthly instalment, along with the total repayment amount and interest.

Play around with different loan amounts or terms to see what fits your budget best.

Once you’re happy with your estimate, you can click "Apply Now" to begin your application directly from the calculator page.

Having this information makes it easier to pick a personal loan that works for your budget.

Once you’ve entered your loan details into the calculator, you’ll receive a few numbers that are key for understanding the cost of your loan. Here’s what each result means:

This is the estimated amount you’ll need to repay each month. If you're looking for lower monthly payments, try extending the repayment period or adjusting the loan amount.

This number indicates the full amount you’ll repay over the loan period and includes the original loan amount plus interest, other fees and charges. view our 6 months & 12 month loan examples under Frequently asked questions (FAQs)

You can compare this number with different loan terms to see how much interest you’ll pay if you choose different repayment lengths.

This shows how much of your total repayment amount is interest. A longer repayment term means smaller monthly payments, but you'll pay more in interest overall.

To minimise interest costs, you can opt for a shorter loan term if you can afford slightly higher monthly payments.

At Capfin, you’re more than just a loan. Whether you’re striving towards financial wellness or want to achieve one of your goals, a Capfin loan can help you make it happen.

Get a Capfin loan of up to R50 000 with repayment terms of 6, 12, or 24 months. Our simple application process means you can access funding quickly and easily. Take the first step towards achieving financial wellness. Apply online at www.capfin.co.za, via SMS to 33005, or by visiting any PEP or Ackerman’s store.