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Debt Consolidation Loan Calculator

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Try out our Debt Consolidation Loan Calculator to see if you could improve your monthly cash flow.

Debt Consolidation Calculator
Based on the information provided a Consolidation Loan won’t improve your cashflow but why not apply online for a more accurate quote?
Please note that we are only able to settle total outstanding amounts from R10 000 upwards with our Consolidation Loan.
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Sorry, we are only able to settle total outstanding amounts between R10 000 up to R150 000 with our Consolidation Loan.
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Monthly repayments can't be more than the Outstanding Balance.

Taking out a Consolidation Loan can be beneficial because it can be used to consolidate retail and credit cards and result in an improvement to your monthly cash flow. Consider the following examples: 

Thembi’s Fashion Fix

Thembi loves fashion. She’s the only one in her circle of friends who has a knack for finding the perfect outfit for any occasion. In fact, every time a friend has a fashion dilemma, Thembi has the solution. The only setback for Thembi is that she is an insatiable shopper and she enjoyed having a selection of retail store cards. She shops at many different retails stores because she believes that there is a gem hidden in every fashion store.

After years of applying for different retail store cards as well as a credit card, Thembi has now accumulated so much debt that she is finding it incredibly difficult to get out of. Her debt became difficult to manage. She was in a spiral of debt. A friend of her’s suggested a Consolidation Loan. Thembi called our office to find out more.

Thembi’s several retail and credit cards totalled R30 000 and each month she paid a number of monthly instalments that amounted to R2 500. With all the sleepless nights and constant worry, Thembi decided it was time to put a stop to her internal chaos. She decided to close all her retail and credit card accounts.  

Thembi used the DirectAxis Consolidation Loan calculator to calculate how much she could free up her monthly cash flow. 

After her loan was approved, Thembi ended up paying a monthly installment of R1 067.37 and her cash flow improved by R1 432.63.

Today, Thembi still enjoys shopping for fashionable clothes but she prefers buying garments that are timeless. She’s drawn up a business plan to start her own clothing line.

Carl’s Credit Card Detox

Carl loves the finer things in life. Whether it be the clothes that he wears, the foods that he eats, the furniture that he buys or the cars that he drives, Carl believes that quality trumps everything. He wouldn’t dare buy things on sale or get them second hand. The only trouble is that Carl isn’t able to finance his tastes without significant funding. Credit cards helped fund Carl’s lifestyle.

What started out as a wonderful way to fund his lifestyle, soon made his life difficult. It became evident that although credit cards had given him what he wanted it became increasingly tough for him to pay his accounts. Considering his monthly salary, Carl was certainly living beyond his means.

 Carl needed to find a way to manage his finances and get his life back together. He searched the internet for a solution. He came across the DirectAxis Consolidation Loan calculator to calculate and find out how much he could free up his monthly cash flow.

 Carl’s debt amounted to R133 000 and his monthly repayments to R7 000.  By taking out a Consolidation Loan he improved his cash flow by R2 637.53.

 Today Carl is savvier with his income and has become accustomed to living within his means. He’s enjoying the simple more beautiful things in life and uses his money wisely by studying to become a paramedic.

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24%

of customers use loans for consolidation

24%

of customers use loans for renovations

12%

of customers use loans for education

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Loan repayment terms range from 24 to 72 months. The maximum interest rate with regards to a DirectAxis Personal Loan is 27.5% per annum (compounded monthly). Your rate and initiation fee will be determined according to your personal risk profile.
An illustrative example of a loan at an interest rate of 27.5% per annum would be: Loan amount R50 000 plus a once-off initiation fee of R1 207.50 and a monthly admin fee of R69.00, over 72 months.
The total cost of the loan will be R 110 013.57 which is a maximum Annual Percentage Rate (APR) of 30.74%.