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What is a repayment period?

The length of time someone takes to repay their loan.

A repayment period is the allocated amount of time to repay a loan. This is generally weekly or monthly. A typical repayment period would sound like this: You will pay R100 every month for 24 months.

Can it be re-negotiated?

Depending on your lender’s policy and the type of loan, you may be able to re-negotiate your loan repayment period. Generally, lenders are accepting of early repayment, however, a longer repayment will mean a larger amount of interest paid and therefore total amount repaid will be higher.

Updated on July 3, 2019

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