Personal loan

Planning to buy a car, renovate your home or improve your education? Our Personal Loan offers many features which give you more value than you might have expected.

More about the Personal Loan

African Bank personal loan
Personal Loans up to R250 000

We deposit your Loan straight into your bank account.

African Bank personal loan
Flexible terms

You can choose to repay your Loan over 7 to 72 months.

African Bank personal loan
Fixed repayments

You will know exactly how much you will be repaying each month.

African Bank personal loan
Easy application

You can choose to apply online, over the phone or you can visit your nearest branch.

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:

African Bank personal loan

Most recent proof of income, reflecting 3 salary deposits

African Bank personal loan

Proof of residence not older than 3 months

African Bank personal loan

You must be over 18 to apply for a Loan

African Bank personal loan

Latest bank statement, reflecting 3 salary deposits

Rest assured that your credit is insured should anything happen to you that would prevent you from making repayments.

Settlements

African Bank personal loan

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.

Installments

African Bank personal loan

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.

Exclusions

African Bank personal loan

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 27.50%
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

Do you need more information to make taking out a loan an even simpler decision? Click on any of the informative African Bank credit and personal loan brochures below

Payment options range from 9-72 months.
Interest rate (APR) from 15% to 27.50%
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

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