How do you use this calculator?
Set the amount you need and choose 15, 21, 30 or 35 days. The estimated total updates as you change either one, and “Your cost breakdown” opens the itemised view: interest, the initiation fee, the service fee and the VAT already inside those fees. The first-loan and repeat-borrower scenarios use different interest rates, so switching between them shows what a second loan in the same calendar year would cost. Everything runs in your browser: nothing is submitted, no credit bureau is contacted and no registration is needed. “Download example” saves the figures as a text file you can compare with any real quotation you are offered.
How much does the term change the total?
Interest and the service fee both scale with the number of days, while the initiation fee does not. These rows hold the amount at R2 000 in the first-loan scenario and vary only the term, so the difference between the rows is what the extra days add. Interest and the service fee grow with the days; the initiation fee of R304.75 is the same in every row.
| Term | Total cost of credit | One repayment |
|---|---|---|
| 15 days | R389.25 | R2 389.25 |
| 21 days | R423.05 | R2 423.05 |
| 30 days | R473.75 | R2 473.75 |
| 35 days | R501.92 | R2 501.92 |
Between the shortest and longest term the cost of credit differs by R112.67 on the same R2 000. A longer term lowers nothing: it lands the repayment further away and costs more. What each charge pays for, and what these figures leave out, is set out on the costs page.
Is this a quotation or an approval?
Neither. It applies the Lendumi Everyday rates to the amount and term you choose, so it is not an offer, not a settlement amount for an existing loan and not a decision about you. A personal quotation follows the credit and affordability assessment: it states the agreed amount, cost and repayment date, and you receive it before you sign. The “Continue to partner” button opens our partner’s application, and the partner confirms eligibility, price and terms.
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