Organization : African Bank Limited
Facility : Apply For Personal Loan
Website : https://www.africanbank.co.za/en/home/product-personal-loan/
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How To Apply For African Bank Personal Loan?
Borrow from R2000 to R250 000 with fixed repayments over 7 to 72 months. 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.
Related / Similar Service : African Bank Consolidation Loan Application
Just follow the below steps to apply for African Bank Personal Loan online,
Step 1 : Visit the official website of African Bank through provided above.
Step 2 : Read the instructions carefully and click on “Apply Now” button.
Step 3 : Fill the registration form with the required details.
Step 4 : Agree the terms & conditions and click on “Apply Online” button.
Step 5 : Fill the remaining details to complete the application.
Documents Required For African Bank Personal Loan
To get a African Bank Personal Loan offer suited to your lifestyle, you will need to have the following documents on hand
** Most recent proof of income, reflecting 3 salary deposits
** Proof of residence not older than 3 months
** You must be over 18 to apply for a Loan
** Latest bank statement, reflecting 3 salary deposits
Credit Life Insurance
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 installments 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).
FAQ On African Bank Personal Loan
Frequently Asked Question (FAQ) On African Bank Personal Loan
1. How and when do I get my Loan?
The first step is to apply for a Loan. You have the choice of applying online, over the phone or by visiting your nearest branch.
Once you have applied for a Loan, your information will be reviewed and if the Loan is awarded to you, the Loan amount will be paid directly into your bank account
2. How and when do I make Loan repayments?
Your repayment dates are set out on the front page of your agreement.
Your first repayment is due seven days after your Loan is deposited in your bank account. All other instalments are due on the first day of the month.
Repayments can be made by setting up a payroll deduction or a debit or stop order from your bank account Or, we can arrange to deduct the money from your bank account monthly on the day you are paid.
3. Can I pay off my Loan or Credit Card early?
Yes. You can call us for a settlement amount if you want to settle your outstanding balance. Or you can increase your repayment amounts to pay off your Loan or Credit Card quicker. Feel free to call us on and to discuss your options.
Benefits of African Bank Personal Loan
African Bank is a financial institution in South Africa that offers personal loans to individuals. Some potential benefits of African Bank personal loans include:
African Bank offers personal loans with flexible repayment terms, allowing borrowers to choose loan amounts and repayment periods that suit their financial situation and budget.
Quick and Convenient Application Process:
African Bank provides a quick and convenient loan application process, which can be completed online or at one of their branches. The application process is streamlined, and loan decisions are typically made promptly, allowing borrowers to access funds quickly.
Competitive Interest Rates:
African Bank offers competitive interest rates on their personal loans, which may be lower than those offered by other financial institutions or credit providers. This can result in lower monthly installments and overall borrowing costs.
Additional Generic Procedure
You can apply for an African Bank Personal Loan online or in person at an African Bank branch.
Here are the steps on how to do it online:
1. Go to the African Bank website.
2. Click on the “Personal Loans” tab.
3. Click on the “Apply Now” button.
4. Enter your personal information, such as your name, surname, ID number, and contact details.
5. Select the amount of loan you want to apply for.
6. Select the term of the loan.
7. Provide proof of income.
8. Provide proof of residence.
9. Pay the application fee.
10. Submit your application.
You will receive an SMS notification confirming your application. You will also be able to track the status of your application online.
Here are some additional tips for applying for an African Bank Personal Loan:
** Make sure you have all the required documents before you start the application process.
** Read the instructions carefully before you start filling out the application form.
** Make sure you enter your personal information correctly.
** Keep a copy of your application for your records.
If you have any questions about applying for an African Bank Personal Loan, you can contact African Bank customer service.
Here are some of the requirements for an African Bank Personal Loan:
** You must be a South African citizen or permanent resident.
** You must be at least 18 years old.
** You must have a good credit history.
** You must be able to provide proof of income and residence.
The interest rate for an African Bank Personal Loan depends on your credit score and the amount of the loan. The repayment period for an African Bank Personal Loan is typically 12 to 72 months.