Key parameters
| Parameter | Value |
|---|---|
| Minimum amount | R500 |
| Maximum amount | R8,000 |
| Term | 14 – 180 days |
| Interest rate | 5% – 60% (varies with profile, affordability and term) |
| Initiation fee | Per NCR cap — up to R165 + 10% of amount above R1,000, max R1,207.50 incl. VAT |
| Monthly service fee | Up to R69 incl. VAT (NCR cap) |
| Credit life insurance | Optional, NCR-capped premium |
| Collection rail | DebiCheck debit order |
| Verify NCRCP22496 on ncr.org.za before you share banking details or sign. |
Published rate range is 5%–60% — your quotation shows where you actually land.
Borrower requirements
- Age 18+
- SA resident with valid ID
- Active SA bank account in your own name
- Verifiable income — three months' bank statements
- Active mobile for OTP
Verify NCRCP22496 on ncr.org.za before you share banking details or sign.
Published rate range is 5%–60% — your quotation shows where you actually land.
Cost-of-credit example
For an illustrative R5,000 loan over 90 days, at the mid-range interest band:
| Cost component | Amount (ZAR) |
|---|---|
| Capital | R5,000.00 |
| Interest (illustrative mid-band, ≈ 90 days) | ≈ R750.00 |
| Initiation fee = R165 + 10% × (R5,000 − R1,000) | R565.00 |
| Service fee × 3 months | R207.00 |
| Credit life insurance (optional) | ≈ R30.00 |
| Total cost of credit | ≈ R1,552.00 |
| Total repayable | ≈ R6,552.00 |
| Approximate monthly instalment over three instalments ≈ R2,184. |
Risk warning. Illustrative only — your cost depends on affordability. Upper-band credit is expensive; read your pre-agreement quotation and borrow only what you can repay on time.
Verify NCRCP22496 on ncr.org.za before you share banking details or sign.
Published rate range is 5%–60% — your quotation shows where you actually land.
Payment allocation order
Under CrediWise terms, payments apply in this order:
- Outstanding interest
- Outstanding fees or charges
- Principal reduction
Partial early payments may cut principal less than expected if interest and fees are still outstanding.
Verify NCRCP22496 on ncr.org.za before you share banking details or sign.
Published rate range is 5%–60% — your quotation shows where you actually land.
FAQ — Terms
What is the shortest term CrediWise offers? 14 days on the short-term tier.
Can CrediWise's rate really reach 60%? Yes — the NCA ceiling for higher-risk or shorter terms; many borrowers land lower within 5%–60%.
Does CrediWise charge for credit life insurance automatically? No — optional, NCR-capped, disclosed and agreed separately in your pre-agreement quotation.