African Bank personal loans are available from as little as R500 to as much as R30 000. We don’t live in an ideal world and, as a result, we do need to borrow money from time to time. African Bank personal loans are ideal for those unforeseen expenses that sneak up on you at the worst time.
African Bank personal loans makes getting a loan quick and easy with no frills, no fuss access to your funds.
African Bank personal loans are available in the following options:
Debit order personal loans:
You can set up a debit order to go off from your bank account every month. If you use this option for African Bank personal loans, your account will be debited at the end of each month.
African Bank personal loans base their interest rates on each applicant’s individual profile. You will be charged an initiation fee once the personal loan is accepted; this fee will depend on your individual credit profile.
You will also be charged a monthly service fee.
For small debit order personal loans with African bank you have three to nine months to pay, for bigger personal loans, you have 12 to 60 months to pay.
African Bank personal loans can also be obtained in the form of payroll deducted personal loans. All this means is that your personal loan repayment will be taken straight from your salary, instead of your transactional account.
If you choose this option, your money will be taken straight from your wages or salary every month.
African Bank payroll deducted personal loans are available from R2500 to R25 000. The interest rates on these loans tend to have favourable interest rates, starting from as little as 18.5% interest a year.
You will also be charged an initiation fee on this loan as well as service fee. The payment terms range from 12 to 36 months for a payroll deducted loan from African Bank.