African Bank Loan is one of the best in South Africa and African Bank offer this loan to its customers 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.
How to apply for a African Bank Loan
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
After Applying for African Bank Loan what are the next steps
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.
African Bank Loan payment options
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.
