Consolidation Loans make managing your money a little easier when your goal is to regain financial stability. Our Consolidation Loans are especially helpful if you want to simplify your credit by settling other debt and turning several loan payments into one cost-effective payment.
Here’s why a Debt Consolidation Loan could be right for you:
How to apply
Applying for your Consolidation Loan is quick and easy. In just a few simple steps you could be on your way to personal financial freedom. To ensure that your application is even quicker, make sure you have the following documents available:
Apply for a Loan today !
Your credit is insured
Rest assured that your credit is insured should anything happen to you that would prevent you from making repayments.
As a Category A Consumer, you’ll be covered (either to settle your outstanding obligation in terms of your credit agreement/facility or pay instalments 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).
Do you need more information about taking out a loan with us? Click on any of the informative African Bank Credit and Personal Loan brochures below to download.
Payment options range from 3 to 72 months. Min interest rate (APR) from 10,5% to Max interest rate (APR) of 28,0%.
Min insurance rate from 5,0% to Max insurance rate of 14,0%. Insurance flat fee of R12.
*Representative example: Credit of R20 000 borrowed for 12 months. Once-off Initiation fee: R1 197.Monthly admin fee R68,40.
Representative APR 10,5%. Representative Insurance Rate of 10%. Insurance Flat Fee R12.
Monthly instalment amount payable: R2 049,05. Total amount payable: R 24 588.60