A Personal Loan from African Bank has the best loan offer with fixed repayments and flexible terms that can suit your needs. With African Bank, you can borrow a personal loan of up to R350 000 with the best interest rates. You can use the loan to pay off your other small debts, or a credit card, to assist you to pay for emergency expenses such as a car breakdown or contribute towards a funeral without draining your savings.
Requirements to apply for a Personal Loan from African Bank
If you are interested in applying for a personal loan with the African bank, you have three options: online, over the phone with a consultant, or in person at one of their branches. In order to apply for an African Bank loan, you will need the following:
- Submit the most recent proof of income such as the latest payslip
- You must be over 18 to apply for a Loan
- Must have the latest 3 months' bank statements, reflecting 3 salary deposits
How long does it take to get a Personal Loan from African Bank
Once you have submitted all necessary documents the African Bank will verify all your documentation and paperwork before they approve. In addition, the bank runs a credit check to check your financial behaviours and credit score. Once everything is cleared, it will only take a couple of days for you to get approved.
The best thing about the African Bank loan is that you get payment options which start from 7-72 months. Depending on the loan, the interest rate can range from 15% to 24.50% and the insurance rate from 5.04% to 5.4%. Since African Bank cares about its customers, they allow existing customers to take a break from payments on qualifying loans.
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