PrimeLoans
Finance
Free · Designed for iPad
PrimeLoans Product Description:
Loan amounts: ZAR 500 – ZAR 4,000
Loan terms: minimum 61 days, maximum 90 days (we offer loan terms ranging from 61 to 90 days. If the repayment date falls on a weekend or public holiday, the loan term will be automatically adjusted to the nearest business day — making repayments simple and convenient).
Maximum APR: 29.2%
Initiation fee and Service fee shown in the app include VAT (15%)
Fees:
Initiation fee — charged once, on activation.
Fee depends on Loan amount:
* For loans up to ZAR 1,300: 15% of the loan amount.
* For loans from ZAR 1,300 up to ZAR 4,000.
The fee is calculated as: ZAR 165 + 10% × (loan amount − ZAR 1,000).
The initiation fee is shown VAT-inclusive, with VAT (15%) on the initiation fee amount charged at the same time.
Service fee — depends on the number of calendar months covered by the loan.
Charged on activation.
Calculation:
* If loan spans two months:
Service fee = (number of days until the end of the month in current month) × (ZAR 60 ÷ days in disbursement month) + ZAR 60 for the final month.
* If loan spans more than two months:
Service fee = (number of days until the end of the month in current month) × (ZAR 60 ÷ days in disbursement month) + ZAR 60 × number of subsequent months.
The service fee is shown VAT-inclusive, with VAT (15%) on the service fee amount charged at the same time.
Interest is calculated at the applicable daily rate and displayed in the pre-agreement calculation.
Interest amount = (loan amount + Initiation fee) × daily interest rate × term.
Example:
Loan amount (Disbursement): ZAR 2,000.00
Term: 75 days (Disbursement date 17 Oct → Maturity date 30 Dec)
Daily rate: 0.08% = 0.0008
Interest = (2,000 + 265) × 0.0008 × 75 ≈ ZAR 136.50 (The calculation amount has been rounded)
Initiation fee = 165 + 0.10 × (2,000 − 1,000) = ZAR 265.00
Service fee = 14 × (60 ÷ 31) + 120 = ZAR 147.10
VAT (15%) on Initiation fee: 265.00 × 0.15 = ZAR 39.75
VAT (15%) on Service fee: 147.10 × 0.15 = ZAR 22.07
Total VAT = ZAR 61.82
Final calculation:
Principal 2,000.00 + Interest 136.50 + Initiation 265.00 + Service 147.10 + VAT 61.82 = ZAR 2,610.42
Total repayable (VAT on top): ZAR 2,610.42
For any questions, feedback, or hesitations, please contact us via the following methods:
Website: https://PrimeLoans.co.za/
Phone: +27 21 139 0909
email: support@primeloans.co.za
General information: Prime Loans Technology (Pty) Ltd is a company duly incorporated and registered under the laws of South Africa, with a company registration no. 2024/739416/07 and the National Credit Regulator registration number NCRCP20937
Privacy policy: https://primeloans.co.za/privacy-policy/
Ratings & Reviews
This app has not received enough ratings or reviews to display an overview.
- improved analytics
The developer, PRIME LOANS TECHNOLOGY (PTY) LTD, indicated that the app’s privacy practices may include handling of data as described below. For more information, see the developer’s privacy policy .
Data Used to Track You
The following data may be used to track you across apps and websites owned by other companies:
- Identifiers
Data Linked to You
The following data may be collected and linked to your identity:
- Financial Info
- Contact Info
- User Content
- Identifiers
- Usage Data
- Diagnostics
Data Not Linked to You
The following data may be collected but it is not linked to your identity:
- Identifiers
Accessibility
The developer has not yet indicated which accessibility features this app supports. Learn More
Information
- Provider
- PRIME LOANS TECHNOLOGY (PTY) LTD
- Size
- 53.2 MB
- Category
- Finance
- Compatibility
Requires iOS 15.0 or later.
- iPhone
Requires iOS 15.0 or later. - iPad
Requires iPadOS 15.0 or later. - iPod touch
Requires iOS 15.0 or later. - Mac
Requires macOS 12.0 or later and a Mac with Apple M1 chip or later. - Apple Vision
Requires visionOS 1.0 or later.
- Languages
- English
- Age Rating
4+
- 4+
- Copyright
- © 2025 PRIME LOANS TECHNOLOGY (PTY) LTD