I Financial Terms

In Duplum Rule

Legal

A South African legal principle that prevents the total interest charged on a debt from exceeding the original principal amount. Once interest equals ...

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Initiation Fee

Loans

A once-off fee charged by the lender when a new loan is granted. Under the National Credit Act, the maximum initiation fee is capped and is calculated...

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Instalment Sale Agreement

Loans

A credit agreement where you pay for goods in regular instalments over a set period, with ownership transferring to you only once the final payment is...

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Interest Rate

Loans

The percentage charged by a lender on the outstanding loan balance, usually expressed as an annual rate. In South Africa, the National Credit Act caps...

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