African Bank | Loans | Consolidation Loans

Consolidation Loan

Consolidation Loans make managing your money a little easier when your goal is to regain financial stability. Our Consolidation Loans are especially helpful if you want to simplify your credit by settling other debt and turning several loan payments into one cost-effective payment

Here’s why a Debt Consolidation Loan could be right for you:

Consolidate your debt

It enables you to consolidate your debt with repayment terms from 18 to 72 months.

Simplify your management

It simplifies your management of multiple lenders and multiple loans.

Consolidation of administration

It often results in savings, due to the consolidation of administration fees.

Reduced instalment

A reduced instalment frees up cash flow.

Access additional capital

A reduced instalment may also result in you being able to access additional capital.

No settlement quote

No settlement quotes are required and you can consolidate up to five accounts from a wide range of credit providers.

How to apply

Applying for your Consolidation Loan is quick and easy. In just a few simple steps you could be on your way to personal financial freedom. To ensure that your application is even quicker, make sure you have the following documents available:

Identity document

Latest original pay slip

Latest bank statement reflecting 3 salary deposits.

Proof of residence

Take up a loan and get something-nyana. Apply today!


Rest assured that your credit is insured should anything happen to you that would prevent you from making repayments.


As a Category A Consumer, you’ll be covered (either to settle your outstanding obligation in terms of your credit agreement/facility or pay instalments towards your credit agreement) in the event of death, permanent disability, temporary disability, retrenchment, unpaid leave or short time.


Choose your Break is a unique African Bank feature that we offer you as an existing customer, enabling you to take a break from payment on qualifying loans.


If you are a Category B Consumer, you will be covered for Death only (we settle your loan and/ or credit card debt).


Do you need more information to make taking out a loan an even simpler decision?

Click on any of the informative African Bank Credit and Personal Loan brochures below to download.

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Information sheet Afrikaans
Information sheet English
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Information sheet Zulu
Income Expense Declaration

Payment options range from 3 to 72 months. Min interest rate (APR) from 10,5% to Max interest rate (APR) of 28,0%.
Min insurance rate from 5,0% to Max insurance rate of 14,0%.  Insurance flat fee of R12.

*Representative example: Credit of R20 000 borrowed for 12 months. Once-off Initiation fee: R1 197.Monthly admin fee R68,40.
Representative APR 10,5%. Representative Insurance Rate of 10%. Insurance Flat Fee R12.
Monthly instalment amount payable: R2 049,05. Total amount payable: R 24 588.60