Home > Salary > South Africa > Loan Servicing Specialist
A loan servicing specialist is responsible for managing and overseeing the repayment process of loans. They work in financial institutions, such as banks or mortgage companies, and act as a liaison between borrowers and lenders. Their main duties include processing loan payments, maintaining accurate records of loan transactions, and ensuring compliance with loan terms and regulations. Loan servicing specialists also handle customer inquiries, resolve any issues or disputes related to loan payments, and assist with loan modifications or refinancing requests. They must have a strong understanding of loan products, financial regulations, and excellent communication skills to effectively communicate with borrowers and provide them with accurate information.
Estimated Yearly Salary: 100,926 ZAR
Estimated Monthly Salary: 8,411 ZAR
Estimated Weekly Salary: 1,941 ZAR per week
Estimated Hourly Salary: 49 ZAR per hour
Values are pre-tax
Last revision of data: 2025-01-04
Estimated Monthly Salary: 8,130 ZAR
Estimated Weekly Salary: 1,876 ZAR per week
Estimated Hourly Salary: 47 ZAR per hour
Last revision of data: 2024-01-08
Estimated Yearly Salary: 5,065 USD
Estimated Monthly Salary: 422 USD
Estimated Weekly Salary: 97 USD per week
Estimated Hourly Salary: 2 USD per hour
Difference in salary year over year or average salary increase is approximately
3 %
Data confidence is - relatively high
Data fetched from dabase: 14 submissions.
Results are anonymized. Amounts indicated are pre-tax, meaning no deductionts yet have been made to the basic salary. Salaries where there are less than 3 entries are not displayed.
Want to check how your salary compares? Submit your own salary here
Estimated Yearly Salary: 100,926 ZAR
Estimated Monthly Salary: 8,411 ZAR
Estimated Weekly Salary: 1,941 ZAR per week
Estimated Hourly Salary: 49 ZAR per hour
By working as Loan Servicing Specialist a person can save up to 151 USD per month or 1,811 USD yearly. Values are pre-tax.
NOTE: These values are estimates and are averaged for the whole country. Furthermore the value is likely exaggerated as no other expenses are taken into account in the projection. Unessential expenses are very subjective and are difficult to assess. Most likely the previously estimated number is significantly lower for majority of people. Expenses in different cities across the country may vary. Above values accuracy is low and is based on limited set of data obtained.
For more information regarding expenses in South Africa, see costs of living in South Africa.
Estimated Yearly Salary for Loan Servicing Specialist
Last revision of data: 2025-01-04
Data as of 2025
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Loan Servicing Specialist salary in South Africa
Average Yearly Salary of Loan Servicing Specialist in South Africa is approximately 100,926 ZAR (5,065 USD). Data is for 2025 and indicates a pre-tax value. The salary itself depends on multiple factors such as seniority, job performance, certifications, experience or any other bonuses. The value indicated is an average amount based on records we have in database. Real values may vary. The data is for orientational purposes.
What does Loan Servicing Specialist do?
A loan servicing specialist is responsible for managing and overseeing the repayment process of loans. They work in financial institutions, such as banks or mortgage companies, and act as a liaison between borrowers and lenders. Their main duties include processing loan payments, maintaining accurate records of loan transactions, and ensuring compliance with loan terms and regulations. Loan servicing specialists also handle customer inquiries, resolve any issues or disputes related to loan payments, and assist with loan modifications or refinancing requests. They must have a strong understanding of loan products, financial regulations, and excellent communication skills to effectively communicate with borrowers and provide them with accurate information.
Skills: loan servicing, financial institution, loan repayment, customer service, loan management, compliance.
Job industry: Finance
Job industry: Finance
How much does Loan Servicing Specialist make?
Salary details
How much does Loan Servicing Specialist make?Estimated Yearly Salary: 100,926 ZAR
Estimated Monthly Salary: 8,411 ZAR
Estimated Weekly Salary: 1,941 ZAR per week
Estimated Hourly Salary: 49 ZAR per hour
Values are pre-tax Last revision of data: 2025-01-04Comparing salary to last year:
Estimated Yearly Salary: 97,560 ZAREstimated Monthly Salary: 8,130 ZAR
Estimated Weekly Salary: 1,876 ZAR per week
Estimated Hourly Salary: 47 ZAR per hour
Last revision of data: 2024-01-08Loan Servicing Specialist estimated salary in USD
For easier comparison here is an estimated salary in USD:Estimated Yearly Salary: 5,065 USD
Estimated Monthly Salary: 422 USD
Estimated Weekly Salary: 97 USD per week
Estimated Hourly Salary: 2 USD per hour
Difference in salary year over year or average salary increase is approximately
3 %About these results
Data confidence is - relatively high Data fetched from dabase: 14 submissions.
Results are anonymized. Amounts indicated are pre-tax, meaning no deductionts yet have been made to the basic salary. Salaries where there are less than 3 entries are not displayed.
Want to check how your salary compares? Submit your own salary here
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Salary comparison to National average
South Africa is a diverse and vibrant country located at the southernmost tip of the African continent. It has a population of approximately 59 million people and covers an area of around 1.2 million square kilometers. The country is known for its rich cultural heritage, stunning landscapes, and abundant wildlife.
Estimated national average yearly salary is 126,956 ZAR (6,780 USD). Value indicated is pre-tax. Below graph shows estimated Loan Servicing Specialist job salary compared to average salary in South Africa.
Comparison shows that a person working as Loan Servicing Specialist in South Africa earns on average:
0.79 times the average salary (or 79% of average salary).
Estimated national average yearly salary is 126,956 ZAR (6,780 USD). Value indicated is pre-tax. Below graph shows estimated Loan Servicing Specialist job salary compared to average salary in South Africa.
Comparison shows that a person working as Loan Servicing Specialist in South Africa earns on average:
0.79 times the average salary (or 79% of average salary).
Is Loan Servicing Specialist a well paid job?
No, our data shows that Loan Servicing Specialist is typically not a well-paid job. The salary varies based on experience. Meaning that even though Loan Servicing Specialist might be a low paying job, with experience the salary might increase to satisfactory levels.What is considered a high salary for Loan Servicing Specialist?
High salary for Loan Servicing Specialist would be somewhere between 111,019 ZAR and 146,343 ZAR. However this is an estimation based on Gaussian Distribution.How much can you save working as Loan Servicing Specialist in South Africa?
Living in South Africa the approximate monthly expenses are: 271 USD. This amount covers basic needs such as food, housing, clothing, healthcare and education costs for a single person. No luxury expenses such as traveling, leisure, hobbies are included in the estimation.Estimated Yearly Salary: 100,926 ZAR
Estimated Monthly Salary: 8,411 ZAR
Estimated Weekly Salary: 1,941 ZAR per week
Estimated Hourly Salary: 49 ZAR per hour
By working as Loan Servicing Specialist a person can save up to 151 USD per month or 1,811 USD yearly. Values are pre-tax.
NOTE: These values are estimates and are averaged for the whole country. Furthermore the value is likely exaggerated as no other expenses are taken into account in the projection. Unessential expenses are very subjective and are difficult to assess. Most likely the previously estimated number is significantly lower for majority of people. Expenses in different cities across the country may vary. Above values accuracy is low and is based on limited set of data obtained.
For more information regarding expenses in South Africa, see costs of living in South Africa.
Salary comparison to region and neighbouring coutries
Country's neighbours are: Namibia, Botswana, Zimbabwe, Mozambique, Eswatini, Lesotho. To make it easier for comparison a conversion from local currency to USD has been made (conversion rates may vary).Estimated Yearly Salary for Loan Servicing Specialist
Last revision of data: 2025-01-04Salary increase per years of experience
Based on data available the salary increase per years of experience is as following- 0 years (beginner) equals base salary
- 1 to 5 years of experience yields
+12% salary increase- 6 to 10 years of experience yields
+25% salary increase- 11 to 15 years of experience yields
+16% salary increase- 16 to 25 years of experience yields
+9% salary increase- more than 25 years of experience yields
+10% salary increaseTop 10 highest salaries in South Africa
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Data as of 2025Random salary:
Quality control manager printingpublishing (105,366 ZAR per year, pre-tax.)
Security director (physical personnel grounds et al.) (209,880 ZAR per year, pre-tax.)
Electrician journeyman (144,952 ZAR per year, pre-tax.)
Interaction designer (208,548 ZAR per year, pre-tax.)
Mobile crane operator (115,533 ZAR per year, pre-tax.)
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All salary figures on optisalary.com are for reference purposes only. We gather data from numerous reliable databases, yet do not guarantee complete accuracy. Before making financial choices, visitors should cross-check with external verified sources. Salaries fluctuate due to various factors, including negotiation skills, industry demand, and experience levels. We disclaim any liability for misrepresentations in the salary estimates provided here. Your use with optisalary.com indicates acceptance of this disclaimer.