African Bank Personal Loans: Loans of up to R350,000 with 1.3% Back in Audacious Rewards.

African Bank offers personal loan plans that go beyond the ordinary, with options up to R350,000 and Audacious Rewards points back with each installment!

The bank provides loan plans with terms up to 72 months, catering to a wide range of South African needs. Learn how to apply.

SEE HOW TO APPLY

Searching for More?

African Bank is one of South Africa’s leading banking institutions, with about 50 years of operations in the country, offering various services to the public.

These include solid options for managing bank accounts and credit cards, as well as unsecured personal loans.

According to the brand itself, African Bank’s loans come with the following promises:

Customize your loan size.
Bank on-the-go with our app
Convenience to apply anywhere, anytime

African Bank’s personal loans return up to 1.3% of installments in Audacious Rewards points, which you can redeem for special discounts on a range of products and services.

The funds from personal loans are deposited directly into your bank account, with flexible repayment plans ranging from 7 to 72 months.

Repayment is made with fixed interest rates in monthly installments, clearly communicated before signing the contract.

According to African Bank itself, the institution offers loan amounts ranging from R2,000 to R350,000 for the South African public.

APR interest rates vary from 15% to 24.50%, with insurance fees ranging from 5.04% to 5.4% for customers.

To access the card, you must be at least 18 years old and provide proof of income through payslips and bank statements.

Yes, having a good credit history is not only beneficial for obtaining the loan but also for securing better interest rates.

If you repay the loan correctly in installments, you won’t have any issues, but if you miss payments, you will incur debt.

In addition to monthly fees, you’ll also need to pay a one-time initiation fee of around R1,197 and a monthly administration fee of R69.

You can conduct banking operations and other services directly through the app, including downloading your statements.

The credit life insurance offers different packages depending on the client’s category with the bank, covering events like death, permanent disability, or unpaid leave.

The loan calculator available on the website helps you instantly check the basic conditions for receiving the money, including a complete calculation of the payment options.

Thus, African Bank delivers a clear proposition with its personal loan, aiming to meet various needs within the South African context.

Want to learn another option?

If you’re looking for a personal loan from a company other than a bank, you might want to check out FinChoice, which offers plans of up to R40,000 for the most frequent users of the platform!

They provide various loan formats, including quick renewals directly through their platforms, and you can see how to apply.

SEE HOW TO APPLY