Below is an example of the interest overpayment on a R2,000 loan. Actual credit costs may be higher if permitted fees are charged.
|
Loan term |
3% per month |
5% per month |
|
10 days |
R20.00 |
R33.33 |
|
30 days |
R60.00 |
R100.00 |
|
60 days |
R120.00 |
R200.00 |
|
90 days |
R180.00 |
R300.00 |