R3,000 loan: repayments and total cost

R3,000 can be borrowed as a short-term loan (up to 6 months) or a small personal loan. Spreading it over more months lowers the instalment but increases the total you pay in interest and service fees. Most people find 3 to 6 months balances affordability and cost.

What lenders check

• Income and affordability
• Credit record
• Existing short-term credit

Documents you'll need

• Green barcoded ID or smart ID card
• Latest 3 months' bank statements
• Latest payslip (if employed)
• Proof of address not older than 3 months

Watch out for

• Compare total repayable across terms, not just instalments.
• Check whether credit life insurance has been added.
• Settle early if you get extra money.

Is R3,000 short-term or personal credit?

Either — it depends on the term. Up to 6 months and R8,000 is short-term credit under the NCA.

What will I pay monthly?

Use the calculator above; results depend on the rate you're offered.

Can I get R3,000 with no payslip?

Possibly, with bank statements showing regular income.

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