R Financial Terms

Reckless Lending

Legal

When a lender gives you credit without checking if you can actually afford it — or when you didn't understand what you were signing up for. The NCA ta...

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Refinancing

Loans

You've got a loan you're paying off, interest rates have dropped, or your credit score improved and now you qualify for better terms. So you take out ...

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Repayment Schedule

Loans

A breakdown of every payment you'll make on a loan — how much interest, how much principal, when you'll be done. Also called an amortisation schedule....

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Repo Rate

Banking

The rate the South African Reserve Bank charges commercial banks when they borrow money. When SARB cuts or hikes the repo, the prime rate follows, whi...

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Repossession

Legal

You don't pay your car loan or furniture account, the lender gets sick of you, and they literally take the goods back. That's repossession. The law sa...

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Revolving Credit

Credit

Credit that you can use, pay back, and use again without reapplying every time. Credit cards are the classic example — you've got a R20,000 limit, you...

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