Consumer credit simulator
Calculate your monthly payments and compare offers from Wafasalaf, Cetelem, SOFAC and other financing institutions in Morocco.
Monthly payment
1.209 MAD
Total loan cost
58.030 MAD
Total interest
8.030 MAD
Duration
48 months
Auto loan
For 50.000 MAD over 48 months, you will repay 1.209 MAD/month.
This is only an indicative estimate
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| Month | Payment | Principal | Interest | Remaining balance |
|---|---|---|---|---|
| 1 | 1.209 MAD | 896 MAD | 313 MAD | 49.104 MAD |
| 2 | 1.209 MAD | 902 MAD | 307 MAD | 48.202 MAD |
| 3 | 1.209 MAD | 908 MAD | 301 MAD | 47.294 MAD |
| 4 | 1.209 MAD | 913 MAD | 296 MAD | 46.380 MAD |
| 5 | 1.209 MAD | 919 MAD | 290 MAD | 45.461 MAD |
| 6 | 1.209 MAD | 925 MAD | 284 MAD | 44.537 MAD |
| 7 | 1.209 MAD | 931 MAD | 278 MAD | 43.606 MAD |
| 8 | 1.209 MAD | 936 MAD | 273 MAD | 42.670 MAD |
| 9 | 1.209 MAD | 942 MAD | 267 MAD | 41.727 MAD |
| 10 | 1.209 MAD | 948 MAD | 261 MAD | 40.779 MAD |
| 11 | 1.209 MAD | 954 MAD | 255 MAD | 39.825 MAD |
| 12 | 1.209 MAD | 960 MAD | 249 MAD | 38.865 MAD |
| ··· 35 hidden payments ··· | ||||
| 48 | 1.209 MAD | 1.201 MAD | 8 MAD | 0 MAD |
How does consumer credit work in Morocco?
Consumer credit allows you to finance personal projects: buying a car, home equipment, travel, studies or any other need. In Morocco, leading financing companies like Wafasalaf, Cetelem, SOFAC, Salafin and Dar Salaf offer rates ranging from 6.5% to 12% depending on the borrower's profile and duration.
How is the monthly payment calculated?
The monthly payment is calculated using the constant annuity formula: M = P × [r(1+r)n] / [(1+r)n - 1], where P is the borrowed amount, r the monthly rate and n the number of months. Our simulator performs this calculation in real time to help you anticipate your repayments.
Tips to get the best rate
- Compare offers from several financing institutions
- Negotiate the rate based on your profile (income, seniority)
- Choose a shorter term to reduce the total cost
- Check the TEG (Total Effective Rate) which includes processing fees
- Make sure your debt-to-income ratio stays below 33%
How does this simulator calculate your consumer loan?
The simulator applies the constant annuity formula — M = P × [r(1+r)^n] / [(1+r)^n − 1] — where P is the borrowed capital, r the monthly rate and n the number of months. You set three inputs: the amount (MAD 5,000 to 500,000), the term (6 to 84 months, i.e. up to 7 years) and the annual interest rate (6 to 15%). The result updates in real time: monthly payment, total loan cost and total interest.
The default rate, 7.5%, matches the average indicative consumer credit rate in Morocco in 2026, within an actual range of 6.5 to 12% depending on the institution and your profile. The comparison tab lines up the ranges charged by the five main financing companies: Wafasalaf (6.5-10%), Salafin (7-10.5%), Cetelem (7-11%), SOFAC (7.5-11.5%) and Dar Salaf (7.5-12%). No institution may exceed the maximum conventional interest rate (TMIC) set quarterly by Bank Al-Maghrib: 13.30% in Q1 2026.
Beyond the monthly payment, the simulator builds the full month-by-month amortization schedule (principal share, interest share, remaining balance). To compare real offers, rely on the TEG (total effective rate), made mandatory by consumer protection law 31-08: it includes processing fees and insurance, unlike the advertised nominal rate.
Consumer credit frequently asked questions
What is the interest rate on a consumer loan in Morocco in 2026?
Between 6.5 and 12% depending on the institution and your profile: financing companies (Wafasalaf, Salafin, Cetelem) charge 6.5 to 10%, banks 7 to 12%. The legal ceiling (TMIC) set by Bank Al-Maghrib stands at 13.30% in Q1 2026. Always compare the TEG, which includes processing fees and insurance.
Which institution offers the cheapest consumer credit in Morocco?
Wafasalaf, the market leader, posts the lowest entry rates: from 6.5% (range 6.5-10%). Then come Salafin (7-10.5%), Cetelem (7-11%), SOFAC (7.5-11.5%) and Dar Salaf (7.5-12%). The ranking can flip with your profile: only comparing personalized TEGs is reliable.
How much does a MAD 50,000 loan over 48 months cost?
At the average indicative rate of 7.5%, the monthly payment comes to about MAD 1,209, i.e. a total cost of roughly MAD 58,030 including about MAD 8,030 of interest. Shortening the term to 36 months or negotiating a 6.5% rate cuts interest noticeably — exactly what the simulator lets you test in real time.
What is the maximum amount you can borrow with consumer credit?
Financing companies lend up to MAD 500,000 and banks up to MAD 1,000,000. The real ceiling depends on your repayment capacity: it is set so your total installments do not exceed 45% of net income, with a 33% debt-to-income ratio remaining the recommended prudent threshold. The maximum term is 84 months (7 years) for a standard personal loan, up to 120 months for an earmarked loan.
Can you repay a consumer loan early in Morocco?
Yes, consumer protection law 31-08 allows it at any time. A penalty may apply — typically 1% of the repaid capital — but it is regulated and capped. The same law imposes a 7-day cooling-off period after receiving the offer and written disclosure of the TEG before signing.
Assumptions and rates verified on August 19, 2026 — Wafir.ma
Wafir.ma is an independent comparison service — neither an ACAPS-licensed insurance broker nor a credit institution licensed by Bank Al-Maghrib. Displayed rates are indicative only.