African Bank personal loans how to apply in 2023
Leading South African Banks with Lower Interest Rates on Personal Loans; Best Investment Rates & Lowest Banking Fees. Apply Online in 3 Mins
What is the vision of African Bank?
Our vision at African Bank is to improve quality of life through affordable, convenient and responsible credit,
We are dedicated to making a difference to the lives of people living in underprivileged communities in South Africa.
Apply for a Loan in minutes!
Use our loan calculator to help you plan your loan repayments. Whether you are planning for your child’s education, building your side-hustle, or transforming your house into your home, a Personal Loan from African Bank can help.
Customize your loan size
We want you to succeed. That’s why we have fixed repayments and flexible terms, with Loan sizes up to R250 000.
Convenience , apply anywhere any time
Apply for a loan wherever you are, whenever you want, through online banking or the African Bank App.
How can I check if I qualify for a loan at African Bank?
You must be over 18 to apply for a loan and will need to produce a recent proof of income which reflects at least three salary deposits, proof of residence not older than three months and a recent bank statement reflecting three salary deposits. At African Bank, you can choose to repay a loan over seven to 72 months.
What you need to apply for a Personal Loan?
To get a Personal Loan offer suited to your lifestyle, you will need to have the following documents on hand:
- Most recent proof of income e.g. latest payslip
- You must be over 18 to apply for a Loan
- Latest 3 months bank statements, reflecting 3 salary deposits
As a Category A Consumer, you’ll be covered (either to settle your outstanding obligation in terms of your credit agreement/facility or pay installments towards your credit agreement) in the event of death, permanent disability, temporary disability, retrenchment, unpaid leave or short time.
Choose your Break is a unique African Bank feature that we offer you as an existing customer, enabling you to take a break from payment on qualifying loans.
If you are a Category B Consumer, you will be covered for Death only (we settle your loan and/ or credit card debt).
- Payment options range from 7-72 months.
- Interest rate (APR) from 15% to 24.50%
- Insurance rate from 5.04% to 5.4%
Representative example: All prices include VAT, R20 000 borrowed for 12 months. Once off initiation fee (capitalized) R 1197, Monthly admin fee R69.00 post 1% VAT increase. Representative APR 15% ,Representative insurance rate 5.4%. Monthly installment amount payable R 2 036
What our customers are saying
Best Bank, they survived a lot but still tried their best to improve experience. We come too far from where we were, Baby steps it will get better with time.
Call us on: 0800 633 633
Fax us on: 0864 944 107
Email Us: email@example.com
COMPLAINTS AND COMPLIMENTS
Call us on 0861 111 011
African Bank personal loans how to apply in 2022, What you need to apply for a Personal Loan, How can I check if I qualify for a loan at African Bank?