Work out loan affordability

Affordability is about how much money you have left after expenses & financial obligations have been paid, which could be used to repay the loan you apply for.

02/05/2017

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.

Loan 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

Get Online Estimate Download Our Good for Credit Booklet

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