Debt repayment calculator
A debt repayment calculator helps you calculate when you will be debt free based on how much you still owe, the interest rate charged and your current monthly payment. By changing your monthly repayments, you could be free of debt sooner.Disclaimer
Whilst the debt calculator intends to cater for multiple scenarios and every effort has been made to ensure the accuracy of this calculator, the results should be used as an indication only. This calculator may not be suitable for persons with a more complex debt scenario.
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Customers use the online calculator at their own discretion and accept that calculations are estimates. Old Mutual Finance gives no warranty, express or implied, regarding the accuracy of such estimates and does not accept any liability for loss or damage of any kind whatsoever, which may result from the use and/or reliance of estimates provided by the calculator. All loans are subject to a full credit assessment.
Old Mutual loan offerings are made available through Old Mutual Finance (Pty) Ltd, a Licensed Financial Services and Registered Credit Provider (NCRCP35). Terms and conditions apply.
Payment options range from 3 to 72 months. Interest calculated monthly. A once-off initiation and admin fees apply. The maximum interest rate is 28% annually. Representative Example: Credit of R5 000 borrowed for 3 months. Total interest payable over loan period: R348.16. Once off initiation fee: R649.75. Monthly admin fee R69. Total Amount Payable: R6 204.91.
*Extending your loan term lowers your monthly instalments, but it also results in you paying more interest and fees over the life of your loan. Use the online debt calculator to calculate the total cost of your loan.