The same loan. R30 less in fees.
A R2,000, one-full-month returning-customer example, using proposed prices.
| Cost | Without benefit | With Together |
|---|---|---|
| Amount received | R2,000.00 | R2,000.00 |
| Interest (3% for the month) | R60.00 | R60.00 |
| Initiation fee, incl. VAT | R200.00 | R170.00 |
| Service fee, incl. VAT | R45.00 | R45.00 |
| Total to repay | R2,305.00 | R2,275.00 |
Ordinary returning-customer price compared with Together
Amount received
- Without benefit
- R2,000.00
- With Together
- R2,000.00
Interest (3% for the month)
- Without benefit
- R60.00
- With Together
- R60.00
Initiation fee, incl. VAT
- Without benefit
- R200.00
- With Together
- R170.00
Service fee, incl. VAT
- Without benefit
- R45.00
- With Together
- R45.00
Total to repay
- Without benefit
- R2,305.00
- With Together
- R2,275.00
No insurance in either example. Fresh assessment required. Previous ClearRand loan fully repaid within 24 months; reduction capped at the initiation fee. Not yet active. Read all conditions.
Interest: 3% per month
The planning model uses 3% per full month on the outstanding principal. As principal is repaid, the interest amount falls. It does not charge interest on the initiation or service fees. This is a monthly rate, not an annual rate.
An actual agreement must specify daily interest and dates. We do not present a proposed tariff as a current legal ceiling or an approved offer.
Initiation and service fees
The once-off initiation fee is 10% of the amount borrowed, inclusive of applicable VAT. It is R200 on a R2,000 loan. It is not paid upfront to “release” a loan. The planned service fee is R45 per full calendar month, inclusive of VAT. A partial calendar month requires a proportionate charge in the final quote.
The amount borrowed reaches the customer in full in this model. Fees are repaid with the loan and are not capitalised for interest. No compulsory insurance premium is included in this proposed product. Understand the insurance assumptions and limits.
Late payment and early settlement
The calculator does not invent collection costs, late-payment charges or a settlement quote. Any applicable charges and their legal basis must be disclosed in the agreement. Ask the creditor for an up-to-date settlement figure before paying a loan off early.
If a payment looks difficult, seek help before it is due. A missed payment can affect your credit record; the outcome depends on the agreement and actual reporting.