Your complete guide to revolving credit
A permanent credit line — use it, repay it, use it again. No fixed end date.
Revolving credit is a flexible, open-ended loan that gives you access to a set credit limit. You can draw funds whenever you need — via EFT, card, or cash — and you only pay interest on the amount you actually use. As you repay, your available credit replenishes, making it ideal for ongoing or unexpected expenses without applying for a new loan each time. It's like having a financial safety net that's always there.
Limit from R5,000 to R150,000 · min monthly payment 5% of balance · interest from 2% p.m.
revolving credit overview
Unlike a term loan (where you receive a lump sum and repay it in fixed instalments), revolving credit gives you ongoing access to funds up to your approved limit. You decide how much to draw and when. The minimum monthly payment is typically 5% of the outstanding balance or R100, whichever is higher. There's no fixed term — you can keep the facility for years, as long as you manage it responsibly. Interest rates are competitive and depend on your credit profile.
This product is perfect for clients who want the freedom to manage cash flow fluctuations, consolidate smaller debts gradually, or have a backup for emergencies without reapplying.
key features & benefits
common uses for revolving credit
home maintenance
Unexpected plumbing or electrical repairs — draw what you need, repay over a few months.
school fees & supplies
Pay term fees or buy textbooks now, smooth out the cost over the school term.
medical or dental
Cover a procedure not fully covered by medical aid and repay affordably.
large purchases
Buy furniture, appliances, or electronics with the flexibility to pay down over time.
travel & holidays
Book now, pay later — then replenish for your next trip.
everyday buffer
Simply have it as a backup for those months when expenses run a little high.
interest rates & fees
| Credit limit | Monthly interest rate (simple) | Monthly service fee |
|---|---|---|
| R5,000 – R20,000 | 3% – 4.5% | R25 (only if balance > R0) |
| R20,001 – R60,000 | 2.5% – 3.5% | R35 (only if balance > R0) |
| R60,001 – R150,000 | 2% – 3% | R45 (only if balance > R0) |
Interest is calculated daily on the outstanding balance. The monthly rates shown are examples; your final rate depends on your credit assessment. There is no initiation fee for revolving credit, but a once-off draw fee of R50 may apply for cash withdrawals (optional).
real-life example
Nomsa's renovation project
Client: Nomsa has a R30,000 revolving credit limit at 2.8% per month. She draws R12,000 to paint her house and buy materials.
Repayment plan: She pays the minimum 5% (R600) plus interest the first month. Interest that month: R12,000 × 2.8% = R336. Total payment R936. As she pays down, interest decreases. She can also pay extra anytime without penalty.
Outcome: Home improved, manageable payments, and she still has R18,000 available for future needs.
Jacob's school fee solution
Client: Jacob faces a R8,000 school fee bill. He uses his R20,000 revolving credit at 3.2% p.m. He pays R2,000 + interest the first month (R8,000 × 3.2% = R256). Over four months he clears the balance. Total interest ~R500 — far less than a payday loan rollover.
step‑by‑step: how to get revolving credit
1. quick online application
Fill in your details, desired limit, and income information (5 minutes).
2. credit & affordability check
We perform a soft credit check and assess your ability to repay. Usually instant.
3. accept your limit
If approved, you'll see your limit, rate, and fees. E-sign the agreement.
4. account set-up
Your revolving credit account is opened. You'll get online banking access.
5. draw funds
Transfer to your bank account via EFT, or use the virtual card for purchases.
6. manage & replenish
Make monthly payments via debit order. Your available credit updates automatically.
eligibility criteria
- South African citizen or permanent resident, 18 years or older
- Regular verifiable income (employed, self-employed, or grant recipient)
- Active bank account in your name
- Good credit standing (but we consider recent conduct, not just score)
- No active sequestration or debt review
Self-employed clients can provide 3 months bank statements. SASSA grant recipients are eligible for lower limits up to R10,000.
frequently asked questions
Is it the same as a credit card?
Similar concept, but no physical card unless you opt for one. You can access funds via EFT or our virtual card, making it more flexible.
What's the minimum payment?
5% of your outstanding balance or R100, whichever is greater. Paying only the minimum extends the term and total interest.
Can I increase my limit later?
Yes, after 6 months of responsible use, you can request a limit increase online.
Does it affect my credit score?
Yes — using it responsibly (on‑time payments, low utilisation) helps your score. Maxing out or missing payments hurts it.
Are there annual fees?
No. Only the monthly service fee applies when you have a balance.
Can I close the account?
Anytime, with no penalty. Just pay the balance to zero and request closure.
important considerations
- Revolving credit is a long‑term tool — use it wisely to avoid revolving debt forever.
- Try to pay more than the minimum each month to reduce interest costs.
- We do not charge hidden fees. All costs are disclosed upfront.
- If you face financial difficulty, contact us early to arrange a payment plan.