R300,000 Personal Loan –
A R300,000 unsecured personal loan is one of the largest non-collateral facilities offered by South African banks, typically used for major home extensions or full debt consolidation.
- ✓Compare loan costs from R5,000 to R350,000 over 1–6 years
- ✓Full NCA fee breakdown (initiation & R69/mo service fees)
- ✓100% free & non-binding – no impact on your credit score
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Illustrative Monthly Repayments & Total Cost (NCA Example)
The table below illustrates how the repayment term affects your monthly instalment and total credit cost for this loan amount, based on our representative NCA interest rate and statutory fees.
| Term | Monthly Instalment | Illustrative APR | Total Interest & Fees | Total Repayment |
|---|---|---|---|---|
| 1 yr | R 27 609 | 21,35 % | R 32 511 | R 332 511 |
| 2 yr | R 15 082 | 20,92 % | R 63 187 | R 363 187 |
| 3 yr | R 10 952 | 20,74 % | R 95 493 | R 395 493 |
| 4 yr | R 8 921 | 20,65 % | R 129 402 | R 429 402 |
Calculated using a nominal interest rate of 18.25% p.a., R1,207 initiation fee, and R69/month service fee. Your actual quote will be issued by the lender following an NCA affordability assessment.
Large Agreement Rules Above R250,000
Under the National Credit Act, credit agreements above R250,000 are classified as large agreements. While statutory interest rate and fee caps still apply to unsecured credit, lenders may require up to 3 months’ notice (or charge up to 3 months’ interest in lieu of notice) if you settle a large agreement early.
Frequently Asked Questions
What is the maximum repayment term for a R300,000 personal loan?
Most South African banks offer maximum repayment terms of 60 to 72 months (5 to 6 years) on a R300,000 unsecured loan.