Combine up to 5 loans in 1
Things work better when we work together. Make the most of your budget when you combine your loans today. Mix ‘n match up to 5 loans into 1 easy-to-manage Consolidation Loan to the value of R350 000 and save cash with a lower repayment. Earn 1.3% of your loan instalments back in Audacious Rewards points
How An Online Consolidation Loan Application Works
- Lock interest on your loans with a fixed interest rate and less fees on one loan repayment.
- Improve your cash flow, repayment terms from 12 to 72 months.
- No settlement quotes are required. Proof of payment that your loans have been settled.
- Choose your break on your qualifying consolidation and for one month, take a break on your repayment.
Consolidation Loan FAQ
There are several ways to apply for African Bank’s Overdraft facility. You can:
- Apply online 24/7 using our African Bank App or by registering for Online Banking on our website. You will not be charged any data when using our digital banking platforms.
- You are welcome to visit any African Bank branch and apply in our branch.
- You can contact our Call Centre on 0860 333 004
- The great news is that there are no initiation fees.
- Customers will be charged a monthly fee of R69 which includes VAT.
- The transaction fees are linked to the MyWORLD transaction fees. Please refer to our pricing guide here.
- Customers must have an active MyWORLD bank account.
- Customers must be between the age of 18 and 60.
- Customers must earn more than R3 500 a month.
- Customers must be a monthly salary or wage earner for a minimum of ONE month with the same employer
- To activate the Overdraft, customers must switch their monthly salary to African Bank.
Find your ideal loan solution with African Bank.
African Bank offers a variety of loan products to fit your unique financial needs.
Personal Loan:
Offers amounts from R2 000 to R350 000 with flexible repayment terms of 7 to 72 months.
12% Loan:
Benefit from our competitive 12% Loan, featuring a low interest rate for loans up to R50 000.
Tech Deals:
Explore our deals and add a cellphone, tablet or laptop to any loan.
Credit Life Insurance
With African Bank’s Credit Life Insurance, you can rest assured that your credit is insured should anything happen to you that would prevent you from making repayments. You are covered for*.
With MyWORLD, you can open up to 5 accounts with no monthly fees, allowing you to share finances seamlessly with friends and family.
- Retrenchment
- Death
- Compulsory Unpaid Leave
- Lay Offs
- Short Time
- Loss of Income
- Retrenchment Balance Claim
- Temporary Disability
- Permanent Disability
