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How to apply for the African Bank Personal Loan?
Find out everything you must provide to apply for an African Bank Personal Loan and borrow up to R350,000 with customized terms and conditions.
Apply for an African Bank Personal Loan: five easy steps
If you need to cover a surprise that life put in your way, take a look at how simple it is to apply for an African Bank Personal Loan.
But first, check out the summary below to decide if it suits your needs and goals:
- Borrow up to R350,000 to repay in up to 72 months;
- Get customized fees and rates according to your current financial situation;
- Pay fixed repayments;
- Be covered in the event of death, disability, retrenchment, unpaid or short time leave;
- Use digital and mobile banking to manage your account while accessing fantastic features.
Additionally, African Bank provides an online calculator so you can estimate your loan repayment and conditions.
To apply for an African Bank Personal Loan, you must provide a valid South African ID, recent proof of income, and the latest bank statements reflecting salary deposits.
Also, you need to be at least 18 years old.
Online Application Process
As shown above, African Bank provides you with flexible, affordable, and covered loans as well as features to help you plan and manage your repayments.
Getting a quote is easy and fast and can be done in only five steps, as follows:
- Personal details: fill out your full name and contact information;
- Financial details: provide your proof and source of income;
- One-Time PIN: certify your identification and enter a PIN;
- Get your offer: review and approve your loan agreement;
- Done: get the funds you need!
After that, you can use the funds for whatever personal reason you have.
You will be redirected to another website
Application Process using the app
If you are an African Bank client, you can also use your mobile app to access your account and apply for a loan.
Or, after applying through the official website, download the app to manage your loan.
In addition, you can find the nearest branch to talk to a specialist.
African Bank Personal Loan vs. Capfin Personal Loan
African Bank Personal Loan offers the opportunity of accessing flexible, affordable, and covered funds through an easy and fast application process.
However, in case you need a fewer amount of money to help you cover an expense, learn more about the Capfin Personal Loan.
African Bank Personal Loan | Capfin Personal Loan | |
APR | Customizable (ranging from 15% to 24.50%) | Fixed and calculated depending on creditworthiness, prime rate, among other factors |
Loan Purpose | Personal (home improvements, medical emergency, and others) | Personal |
Loan Amounts | From R2,000 to R350,000 | Up to R50 000 |
Credit Needed | Not disclosed | Not disclosed |
Terms | From 7 to 72 months | Up to 12 months |
Origination Fee | Not disclosed | Not disclosed |
Late Fee | Not disclosed | Not disclosed |
Early Payoff Penalty | Not disclosed | Not disclosed |
Then, find out how to apply for a Capfin Personal Loan!
How to apply for the Capfin Personal Loan?
Read how to apply for a Capfin Personal Loan and get the money you need within 48 hours after approval. See how the online application works!
Aline Augusto
Aline Barbosa
Senior Editor
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