Bank Better, Live Better
work out loan affordability
Affordability is about how much money you have left after all your necessary expenses and financial obligations have been paid, which could be used to repay the loan you apply for.
Credit providers use the information on your salary slip and bank statements to see whether you'll be able to repay. Here's how you can work out your own affordability.
- Take your income after statutory deductions such as UIF, pension and tax
- Subtract all your necessary expenses such as your bond or rent, transport and food
- Subtract your other financial obligations such as other debt repayments, insurance and policy payments
- The amount you have left after all your deductions and necessary expenses is what can be used to the repay the credit you're applying for
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we can help with debt relief
Struggling with debt repayments? If your income is affected by COVID-19, we have debt relief options available to help improve your cash flow and you could still qualify for our 100% interest refund.
are you in need of credit relief or assistance?
We’re doing everything we can to help you during the COVID-19 crisis. If your income has been affected, speak to us about our credit payment relief and assistance options. Together, we can choose the best, personalised option that will give you time to improve your cash flow without increasing your total cost of credit.