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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.

by Aline Augusto

Published on 02/25/2023

Apply for an African Bank Personal Loan: five easy steps

An online personal loan with everything that you need. Source: the Mister Finance.

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.

Personal Loan

African Bank Loans

flexible life insurance

A personal loan with long terms and insurance coverage!

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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

Apply online for the African Bank personal loan. Source: Canva.

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.

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!

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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.