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African Bank Personal Loan review: customized terms

Read this African Bank Personal Loan review to learn the details about this credit solution, including costs, terms, conditions, and amounts.

African Bank Personal Loan: up to R350,000 to repay in up to 72 months

African Bank is a reliable financial institution. Source: The Mister Finance.
African Bank is a reliable financial institution. Source: The Mister Finance.

Life can be full of surprises. But fortunately, you can rely on solutions to help you cover the unexpected, as will be shown in this African Bank Personal Loan review.

African Bank Personal Loan

How to apply for the African Bank Personal Loan?

Check out how to apply for an African Bank Personal Loan through an easy and fast form that takes only five steps to borrow up to R350,000.

In essence, African Bank is a reliable financial institution that offers affordable products with flexibility on repayments.

APRCustomizable (ranging from 15% to 24.50%)
Loan PurposePersonal (home improvements, medical emergencies, and others)
Loan AmountsFrom R2,000 to R350,000
Credit NeededNot disclosed
TermsFrom 7 to 72 months
Origination FeeNot disclosed
Late FeeNot disclosed
Early Payoff PenaltyNot disclosed

Continue reading to find out why you should apply for a personal loan from African Bank.

How does the African Bank Personal Loan work?

As shortly and previously shown in this African Bank Personal Loan review, this might be a fantastic credit option for those looking to cover an unexpected cost that eventually happens in life.

However, since you can borrow up to R350,000, you can use the money to cover a planned project like a home improvement.

In addition, African Bank is known as an excellent financial institution that gathers great resources, tools, and services for its clients.

In summary, you can take advantage of digital and mobile banking and a calculator to estimate your loan and repayments. 

Although fees apply, the complete package of costs will be disclosed after an application since rates and fees are customizable and fixed according to your financial health.

On the other hand, annual interest rates usually vary from 15% to 24.50%, while terms range from 7 to 72 months.

Besides, a category A client will be covered in the event of disability, death, retrenchment, unpaid or short time leave

Otherwise, if you are a category B, you will be covered in the event of death.

Finally, the application is online, easy, and fast, and you can do it with only five simple steps.

African Bank Personal Loan benefits

A loan can help you close that deal. Source: Canva.
A loan can help you close that deal. Source: Canva.

Undoubtedly, this might be a great opportunity for you to get customized conditions when borrowing money from a bank, as can be seen on this African Bank Personal Loan.

Even though fees and interest apply, African Bank follows a competitive target to deliver affordable agreements for its clients. 

Also, not all lenders offer up to R350,000 as loan amounts. So, if you need a larger amount of money to cover whatever you need, check out the ins and outs of getting a personal loan from this bank.

Pros

  •  African Bank is a well-reviewed institution with excellence in its services;
  • You can borrow up to R350,000 to repay in up to 72 months;
  • Fees and rates are customizable and fixed;
  • You will be covered in the event of death, disability, and others;
  • You can estimate your loan with a fantastic calculator;
  • The bank features mobile and digital features.

Cons

  • There are no rewards or other bonuses.

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How good does your credit score need to be?

Unfortunately, this information is not disclosed. But it is essential to mention that banks usually require healthy credit records to consider approving an application.

How to apply for an African Bank Personal Loan?

Are you planning to renovate your home or cover an unplanned expense? Then, learn how fast it is to apply for an African Bank Personal Loan in the following post!

African Bank Personal Loan

How to apply for the African Bank Personal Loan?

Check out how to apply for an African Bank Personal Loan through an easy and fast form that takes only five steps to borrow up to R350,000.

About the author  /  Aline Augusto

My name is Aline Mesquita; I'm a writer here on the blog, where I write about finance in general and other subjects. I have been working with content creation for ten years. Also, I'm post-graduated in Project Management, with expertise in SEO practices. Currently, I am studying finance, market trends, and cryptocurrencies.

Reviewed by  /  Aline Barbosa

Senior Editor

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