A personal loan is generally associated with an unsecured loan. It is a great way to get cash when needed for an emergency, home improvements or leisure activities like weddings and holidays. Personal loans can range between R10,000 and R20,000,000 with a minimum repayment of 12 months, and a maximum repayment period of 72 months. Repayments are typically calculated at 5% interest per annum. Once you have applied and received a loan, you will need to pay back the personal loan in monthly instalments over your chosen period. Before you select a personal loan, you should make sure you have a good understanding of how much money you need and over what period. This will influence the interest rates charged and the terms in which the lender lends you the money.