Loan Costs & Fees — Exactly What a Short-Term Loan Costs
A short-term loan from eKasi Pay Credit has four cost components: a once-off initiation fee, a monthly service fee, interest, and a mandatory credit life insurance premium (capped at R4.50 per R1,000 of cover). Every charge is capped by the National Credit Act and disclosed in full in your personalised quote before you accept.
What makes up the cost of a loan?
A short-term loan from eKasi Pay Credit has four cost components. Every one is named, explained and capped by the National Credit Act — and every one is shown in Rands in your personalised quote before you accept.
Initiation fee
A once-off initiation fee covers the cost of setting up your loan agreement. It is charged once, on the amount you borrow, and is capped by the National Credit Act — never an open-ended or hidden charge.
Monthly service fee
A monthly service fee covers the ongoing administration of your loan for each month it is open. Because short-term loans run for about 30 days, this is typically charged for a single month and is also capped by the NCA.
Interest
Interest is the cost of borrowing, charged at a fixed rate over the days you actually use the credit. The rate falls within the National Credit Act maximum, and returning customers in good standing may qualify for a lower rate.
Credit life insurance premium
Credit life insurance is mandatory and settles your outstanding balance if you die, become disabled or are retrenched. The premium is capped by regulation at R4.50 per R1,000 of cover. You may use our approved insurer or substitute your own policy.
An illustrative cost example
To show how the components fit together, here is an illustrative example for borrowing R2,000 over 30 days. The numbers below are computed by our own loan calculator — they are illustrative only, and your exact cost is confirmed in your personalised quote.
| Cost component | Illustrative amount (incl. VAT) |
|---|---|
| Amount borrowed (principal) | R2 000,00 |
| Initiation fee | R345,00 |
| Monthly service fee | R69,00 |
| Interest (30 days) | R100,00 |
| Credit life insurance premium | Capped at R4.50 / R1,000 cover* |
| Total cost of credit (fees + interest) | R514,00 |
| Total repayable (excl. credit life) | R2 514,00 |
See your exact cost before you commit
Use our live loan calculator to enter your exact amount and date. Every fee, the interest and your credit life premium are calculated for you — no obligation, no hidden charges.
What affects your cost
Your exact cost is personal to you. Five things determine what you pay — which is why we calculate it from your application rather than advertise a single figure.
How much you borrow — between R500 and R4,000.
Your loan term — up to about 30 days until your repayment date.
Your credit life cover choice — our approved insurer (capped at R4.50 per R1,000) or your own existing policy.
Whether you are a first-time or returning customer — returning customers in good standing may qualify for a lower interest rate.
Whether you settle early — repaying before your due date reduces the interest you pay.
Understanding the total cost of credit
The total cost of credit is everything you repay on top of the amount you actually borrowed. It is the initiation fee, the monthly service fee, the interest and the credit life insurance premium added together. When you accept a loan, your agreement shows this total in Rands alongside the amount borrowed, so you always know the full picture before you sign.
Because a short-term loan is repaid quickly — usually in a single debit order within about 30 days — the total cost is kept proportionate to the brief period you borrow for. There are no compounding monthly instalments stretching over years, and there is nothing added after you sign.
All of these charges fall within the maximum limits set by the National Credit Act and its regulations, which is what being an NCR-registered credit provider (NCRCP16640) commits us to.
Pay off early with no penalty
You can settle your loan early at any time, and we charge no early-settlement penalty. Interest is charged for the time you actually use the credit, so paying off your loan ahead of your due date reduces your total cost of credit.
If your situation improves before your repayment date, settling early is always the cheaper option — and it is your right as a borrower under the National Credit Act.
No early-settlement penalty
Repay sooner, pay less.
Costs & fees — frequently asked questions
Straight answers about what a loan costs.
What fees do you charge on a loan?
There are four cost components: a once-off initiation fee, a monthly service fee, interest on the amount you borrow, and a mandatory credit life insurance premium (capped by law at R4.50 per R1,000 of cover). All four are capped by the National Credit Act and shown in full in your personalised quote before you accept.
How much is the credit life insurance premium?
Credit life insurance is mandatory and capped by regulation at R4.50 per R1,000 of cover. You may use our approved insurer or substitute your own existing policy. The exact premium for your loan is calculated and shown in your quote.
Is there a penalty for paying my loan off early?
No. You can settle your loan early at any time with no early-settlement penalty. Because interest is charged for the time you actually use the credit, repaying sooner reduces your total cost of credit.
What is the total cost of credit?
The total cost of credit is everything you repay on top of the amount you borrowed — the initiation fee, service fee, interest and credit life premium added together. Your personalised quote shows this total in Rands before you sign anything.
Are your fees within the legal limits?
Yes. eKasi Pay Credit is an NCR-registered credit provider (NCRCP16640). Our initiation fee, service fee and interest rate all fall within the maximum limits set by the National Credit Act and its regulations.
Why can't you just tell me the exact cost upfront?
Your exact cost depends on how much you borrow, the term you choose and your credit life cover. Rather than quote a misleading single figure, we calculate your precise costs from your application and show every line item in your personalised quote before you commit.
Do returning customers pay less?
Returning customers in good standing may qualify for a lower interest rate than first-time borrowers. The rate that applies to you is shown in your personalised quote.
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See every fee, the interest and your credit life premium for the exact amount and date you need — calculated for you, with no obligation.
EKASI PAY CREDIT (PTY) LTD is a registered credit provider with the National Credit Regulator (NCR), registration number NCRCP16640 (company registration 2022/590090/07). We lend responsibly in accordance with the National Credit Act and are POPIA compliant. Loans from R500 to R4,000. Credit life insurance is mandatory (capped at R4.50 per R1,000 of cover) and may be provided by an approved insurer or by your own policy. Your repayment behaviour is reported to Experian South Africa. The figures on this page are illustrative and for general information only — they are not a credit offer, and all costs are confirmed in your personalised quote before you accept any loan.
Reviewed for accuracy by the eKasi Pay Credit credit team.