There are times when unexpected events occur and you feel as if you have nowhere to turn. Borrowing cash from friends or family during these turbulent times may not seem like the best alternative. There may be various other lenders which may not have the ideal solutions for your needs. Finding a way to pay off medical bills, study fees or your dream wedding costs no longer needs to be a tedious experience.
African Bank has a dedicated suite of loan options designed to meet different financial needs. Personal loans are offered from as little as R500 up to a maximum of R150 000.
Short-term loans are offered up to R8000 with a repayment term of between 3 and 12 months. Monthly repayments are done via debit order. Instalments are also fixed, which means that you will have the benefit of paying an amount that isn’t affected by interest rate fluctuations.
African Bank also provides Payroll-deducted loans of between R2500 and R25 000 at an annual interest rate of 18.5%.These loans are repayable within 3 to 60 months and a service and initiation fee are charged.
African Bank offers Credit Life Insurance with all its loan products. Cover is provided in cases of death, permanent disability, temporary disability and retrenchment.
To apply for a personal loan with African Bank, there are a number of documents which must be submitted, including:
- A valid South African identity document
- Latest original payslip
- 1 months’ bank statement reflecting your salary deposit or savings book
- Proof of residence
Contact African Bank by calling: 0861 000 351
