Simplify your debt with one consolidation loan. Combine up to 5 loans into one single consolidation of
up to R200 000 and get one lower repayment
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 9-72 months. Interest rate (APR) from 15% to 27.75% . 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.
Representative APR 15% ,Representative insurance rate 5.4%. Monthly instalment amount payable R 2 036.03 , total payable R 24 432.41