See How to Apply for the African Bank Personal Loans

What to know before applying?

African Bank offers highly flexible plans ranging from R2,000 to R350,000 with APR starting at 15% and special conditions!

African Bank is one of South Africa’s leading financial institutions, with a solid track record of nearly 50 years of operation.

Known for offering a wide range of financial services, the bank stands out, particularly for its personal loan plans, which are designed to meet the diverse needs of South African clients.

One of African Bank’s key differentiators is the flexibility of its loan plans, ranging from R2,000 to R350,000.

These amounts can be repaid over periods ranging from 7 to 72 months, adapting to the different financial capacities and preferences of its clients.

The loans are offered with APR interest rates ranging from 15% to 24.50%, in addition to an insurance fee ranging from 5.04% to 5.4%, ensuring a transparent and competitive cost structure.

You also have to pay an installation fee of about R1167 and a monthly fee of R69.

To facilitate the loan application process, African Bank provides a loan calculator on its website.

This tool allows clients to check the basic conditions for receiving the money, providing a complete calculation of the payment options.

This helps ensure that clients can make informed financial decisions tailored to their specific circumstances.

If you want to know more, keep reading.

Who can Apply?

African Bank offers very attractive conditions for the South African public, with the primary requirement being that applicants must be at least 18 years old.

For foreign citizens, a valid passport with a work visa is required.

Another key requirement is proof of income. Therefore, you will need to provide the following documents:

• Most recent proof of income
• Copy of South African ID or passport
• Bank statements from the last 3 months

Please note that meeting these conditions does not guarantee a loan, as each application is subject to the bank’s approval.

How do I Apply for the African Bank Personal Loans?

When you select the ‘Apply Now’ option, you will be redirected to the application form. Here’s what to include:

• Personal information: South African ID, full name, phone number, and email
• Financial details: type of employment, income, and expense details

After submitting this information, you will receive a complete quote with the necessary conditions for the loan. Once you accept the quote, you can sign the contract and receive the funds directly in your account.

In addition to the form, you can contact African Bank through other channels, such as the online chat and contact form, which requires your name, phone number, and email address.

More Details

One of the most attractive features of African Bank is the Audacious Rewards program, which refunds up to 1.3% of paid installments in points that can be exchanged for special discounts on a variety of products and services.

This offers an additional incentive for customers, who can gain tangible benefits while managing their personal finances.

In addition to personal loans, African Bank also stands out for the convenience of its digital services.

Through the bank’s app, clients can conduct banking transactions, download statements, and manage their loans practically and efficiently, anytime and anywhere.

The bank also offers credit life insurance, covering various categories, including cases of death, permanent disability, or unpaid leave, offering additional security to clients.

In summary, African Bank offers a complete and reliable solution for those seeking personal loans in South Africa.

With its extensive experience, flexible terms, and incentives like Audacious Rewards, the bank positions itself as a solid choice for clients seeking financial stability and additional benefits.

Want to learn another option?

FinChoice is a company specializing exclusively in personal loan formats, offering two main types of loans with amounts reaching up to R40,000 for the South African public.

The company provides excellent resources, including fast approval, a completely online process, and personal protection plans, see how to apply.

Written by

Gabriel Gonçalves