DirectAxis Personal Loan Full Review

Are you in need of fast money and looking for an easy-approval loan? So, DirectAxis can be the best option for you.

With personal loans ranging from R5.000 to R300.000, DirectAxis can arrange the funds you need within 48 hours.

Below, you’ll learn everything you need to know about a DirectAxis’ personal loan, including its features, requirements, advantages, and much more.

Who is DirectAxis?

Operating since 1995, DirectAxis has grown to become a well-known brand in the South African financial industry.

The company has acquired a good reputation for providing transparent and flexible loan options to its customers.

Among its several products and services, DirectAxis offers personal loans, insurance, savings accounts, and other financial products to both individuals and businesses.

How do DirectAxis personal loans work?

DirectAxis’ personal loans are designed to help you finance any kind of problem or need. Unlike other loan types, DirectAxis’’ funding can be used for debt consolidation, home improvements, investing, and much more.

The loans are available in amounts ranging from R5000 to R300.000, with repayment terms ranging from 24 months to 6 years, depending on the amounts borrowed and the client’s credit history.

When it comes to interest, the rates for a DirectAxis personal loan are on average 15% APR.

As of today, DirectAxis only offers unsecured personal loans, depending on your creditworthiness and loan requirements, which means you don’t have to provide any collateral to backup your monthly installments.

Main Benefits

DirectAxis is offering a range of benefits to their borrowers, especially those in need of quick access to funds.

That is why Lime has a fast and straightforward application process that can be completed entirely online.

DirectAxis will take less than 48 hours to analyze your request and come back with an answer, either approving or denying your loan.

It is also worthy of mention that your personal loan will have a protection plan that can provide a settlement for any remaining balance in the event of your permanent disability or death.

This protection plan also provides partial coverage for temporary disability and retrenchment, which will be determined by your risk profile.

Other DirectAxis’ loan advantages include:

• Flexible repayment terms
• Fixed interest rates
• Easy application process
• Funding within 24 hours

Main Drawbacks

As with many other financial services, DirectAxis does have a few points of attention, so it is important to consider the potential drawbacks before applying.

One of the main drawbacks is the fee associated with the loan, since Lime will charge you an initiation fee and monthly service fees.

As of today, DirectAxis charges a service fee of R69 per month and an initiation fee of R1,207 that will be charged at the beginning of the loan course.

These fees will add up to the loan’s total amount and can make its monthly installments higher.

Furthermore, DirectAxis’ interest rates on personal loans can be higher than some of its competitors’.

For clients with a not-so-good credit history, their interest rate can go up to 28.75% APR (annual percentage rate).

That high interest rate can become a real problem if you choose one of DirectAxis’ longer repayment plans.

How do I apply for DirectAxis personal loans?

If you’re interested in applying for a DirectAxis personal loan, you can start the process by filling out an online application or visiting a DirectAxis’ branch near you.

The application process is straightforward, and you’ll typically receive a decision within minutes. If approved, you can receive your funds within 48 hours.

Tap on the green button below to learn more about the application process and eligibility requirements.

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