When it comes to applying for a loan, PIP Cash Loan will, typically, allow you to qualify for a loan repayment of up to 30% of your joint, gross, monthly income i.e. your total joint income before tax and expenses have been deducted. This rule ensures that PIP Cash Loan adhere to responsible credit lending as mandated by the National Credit Act of South Africa.
The next item that we look at is your nett monthly income minus your total monthly expenses. We want to see that your disposable income will cover the monthly repayments of the loan.
Make use of our affordability calculator above to find out what your estimated loan amount will be. We have set the default interest rate to the current prime lending rate. Based on your credit profile, We may choose to give you an interest rate either higher or lower than the prime lending rate. A small change in your interest rate can have a significant impact on your final loan amount. It is very important to keep this in mind when estimating the amount for which you qualify.
NB* Please note that the affordability calculator will just show you an estimate of how much you can qualify for.