Publish Date: 07/03/2019
Are you one of the more than 20 million South Africans in debt right now? It’s not a great feeling to enter a new decade in the ‘red’. High interest rates make it difficult to pay off your debts quickly, which makes it even more difficult to save a decent amount of money for your retirement.
Many people take on various debts at the same time, such as credit card, store card, personal loan and overdraft. This compounds the effect of those interest rates and leaves many people in a desperate situation, unable to stay in control of their finances.
Taking back control of your financial life means tackling your strategically and debt head on. If you are struggling with multiple debts, simplify things and take out a debt consolidation loan.
Debt consolidation explained
A debt consolidation loan is a loan you take out when you have several existing loans that you need to pay off, but are struggling to make the monthly payments.
Advantages of a consolidation loan
Apply for a consolidation loan
To apply for debt consolidation loan, click here. To get started, you’ll need:
About African Bank
Our mission is to be a successful Retail Bank offering a wide range of products and services to the consumers of South Africa. The people who work for African Bank represent the diverse population of South Africa; therefore we are a reflection of you, of all South Africans. We seek to provide value - more than our consumers expect of us. We promise to live our purpose 'humanity through banking' in all that we do and we are confident that we can, because 'We are You'.