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Frequently Asked Questions (FAQ)

Find clear answers on how SimplyLoan works, how personal loans are regulated under South Africa’s National Credit Act (NCA), and what to check before signing a credit agreement.

About SimplyLoan South Africa

SimplyLoan.co.za is an independent comparison website operated by Afima ApS. We help South African consumers compare unsecured personal loans and debt consolidation products from registered credit providers.

Our service is completely free for consumers. We never charge brokerage or application fees, and using our calculator does not leave an inquiry footprint on your credit profile.

Regulation & Consumer Rights Under the NCA

All lenders featured on SimplyLoan South Africa hold active registration with the National Credit Regulator (NCR). Under the National Credit Act 34 of 2005, every borrower is entitled to a transparent Pre-Agreement Statement and Quotation, statutory caps on interest rates and fees, and protection against reckless lending.

Frequently Asked Questions

Does SimplyLoan charge any fees?

No. SimplyLoan is 100% free to use. We may receive a referral fee from a credit provider if you choose to proceed to their website and take out a loan.

How do I verify if a lender is registered with the NCR?

Every legal credit provider in South Africa has an NCR registration number starting with "NCRCP" (for example, NCRCP13 for Capitec Bank or NCRCP16 for Nedbank). You can verify any registrant on the official National Credit Regulator website (www.ncr.org.za).

What happens if I cannot afford my monthly loan repayments?

Contact your credit provider immediately to discuss restructuring options, or consult an NCR-registered Debt Counsellor for a formal assessment.

Compare Personal Loans in South Africa

Check indicative monthly repayments from R5,000 to R350,000 and compare NCR-registered lenders in minutes.

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Warning: Borrowing money costs money. Always verify that monthly repayments fit comfortably within your budget.

Representative Example: A R 50,000 personal loan over 3 years (36 monthly instalments) at a nominal interest rate of 18.25% p.a., once-off initiation fee of R 1,207 and monthly service fee of R 69 results in an estimated monthly repayment of R 1,882, total credit cost of R 18,959, total repayment of R 68,959, and an effective annual percentage rate (APR) of 22.4%. Final terms depend on affordability assessment.

In South Africa, unsecured personal loans are regulated under the National Credit Act (NCA) and overseen by the National Credit Regulator (NCR), with statutory caps on interest rates (repo rate + 21% p.a.), initiation fees, and monthly service fees (up to R69/month incl. VAT).

SimplyLoan.co.za is an independent financial comparison service operated by Afima ApS. We are not a registered credit provider or financial adviser, and we do not grant loans. When you click through to a partner lender, we may receive a referral commission at no additional cost to you.