The 12% Loan

With a low interest rate fixed at 12% you will always have the peace of mind of knowing that your repayments will stay the same, with a fixed interest rate and fixed monthly repayments

More about the 12% Loans

Flexible Terms

Improve your cash flow, repayment terms from 9 to 24 months.

Fixed Repayments

This allows you to budget accurately and know exactly how much you will be repaying from month to month.

Easy Application

You can choose to apply online, over the phone or you can choose to visit your nearest branch.

12% Loans up to R50 000

Your 12% Loan will be deposited straight into your bank account.

What you need to apply for a 12% Loan

To get a 12% Loan offer suited to your lifestyle, you will need to have the following documents on hand:

Most recent proof of income e.g. latest payslip

You must be over 18 to apply for a Loan

Latest 3 months bank statements, reflecting 3 salary deposits

With Credit Life Insurance your debt is covered for the following insurable events:

Settlements

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

Installments

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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.

Exclusions

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

Payment options range from 9 to 24 months.
Interest rate (APR) from 12% to 24.50%
Insurance rate from 5.04% to 5.4%
*Representative example: All prices include VAT, R20 000 borrowed for 12 months. Once off initiation fee (capitalized) R 1197, Monthly admin fee R69.00 post 1% increase. Representative APR 15%, Representative insurance rate 5.4%. Monthly installment amount payable R 2 036.03, total payable R 24 432.41

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

Payment options range from 9-72 months
Interest rate (APR) from 15% to 24.50%
Insurance rate from 5.04% to 5.4%.

Updated terms and conditions

*Representative example: All prices include VAT, R20 000 borrowed for 12 months. Once off initiation fee (capitalized) R 1197, Monthly admin fee R68.40. Representative APR 15%, Representative insurance rate 5.4%. Monthly installment amount payable R 2 036.03, total payable R 24 432.41

What our customers are saying

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