Published: 2026-05-19 | Last updated: 2026-05-19 | Author: Sarah Mitchell, Financial Analyst
Core Loan Parameters
| Parameter | Value |
|---|---|
| Minimum loan amount | R2,000 |
| Maximum loan amount | R8,000 |
| Minimum repayment term | 1 month |
| Maximum repayment term | 6 months |
| Maximum monthly interest rate | 5% per month |
| APR (indicative range) | 95.9% – 121.1% |
| Initiation fee | Up to R165 + 10% of loan amount (excl. VAT); maximum R1,050 excl. VAT |
| Monthly service fee | Per NCA prescribed limits |
| VAT on fees | 15% |
| Currency | South African Rand (ZAR) |
| Early repayment | Permitted; interest accrues only to repayment date |
| Credit check | Yes — credit bureau and affordability assessment |
Borrower Eligibility Requirements
To qualify for a Unifi Credit personal loan you must:
- Be a permanent South African citizen with a valid South African ID.
- Be 18 years of age or older.
- Be formally and permanently employed with a regular monthly salary.
- Receive your salary into a supported bank account — ABSA, Standard Bank, FNB, Capitec, Nedbank, African Bank, or TymeBank.
- Have a net monthly income sufficient to pass Unifi's affordability assessment.
- Provide a recent payslip and access to your online banking for an income verification check.
Total Cost of Credit — Worked Example
The following example is provided for illustrative purposes only. Actual costs depend on your credit profile and the specific loan agreement.
Loan amount: R5,000 | Term: 3 months | Monthly interest rate: 5%
| Cost component | Amount (ZAR) |
|---|---|
| Principal | R5,000 |
| Interest (5% × R5,000 × 3 months) | R750 |
| Initiation fee (R165 + 10% of R5,000 = R665, + 15% VAT) | R764.75 |
| Monthly service fee (estimated, per NCA) | ~R172.50 × 3 = R517.50 |
| Total repayable (approx.) | ~R7,032.25 |
These figures are approximate. Your actual agreement will display the full cost before you sign. Always read the pre-agreement statement carefully.
Risk Warning
Important: A personal loan is a legally binding financial commitment. If you miss repayments, Unifi Credit may charge penalty interest, list the default on your credit bureau record, and pursue legal recovery. Before taking a loan, confirm you have sufficient disposable income to cover all monthly instalments for the full agreed term. If you are in financial difficulty, contact the National Debt Helpline on 0861 886 783.
FAQ — Terms
Q: What is the maximum loan I can get from Unifi Credit? The maximum is R8,000, subject to your affordability assessment and credit profile.
Q: Can I repay my Unifi loan early? Yes. Early repayment is permitted and interest is calculated only to the actual repayment date, so you will pay less overall.
Q: What documents do I need to apply? Your South African ID number, a recent payslip, and access to your online banking portal for income verification.
Q: Does Unifi charge a penalty for late payment? Unifi may charge late-payment fees and penalty interest as permitted under the National Credit Act. Details are disclosed in your individual loan agreement.