The 15% loan

With a low interest rate fixed at 15% 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 15% Loans

15% Loans up to R50 000

Your 15% Loan will be deposited straight into your bank account.

Flexible terms

You can choose to repay your 15% Loan over 12 to 18 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 visit your nearest branch.

What you need to apply for a 15% Loan

To get a 15% Loan offer suited to your lifestyle, you will need to have the following documents on hand:

African Bank 15 percent loan

You must be able to show your most recent proof of income

African Bank 15 percent loan

This must not be older than three months

African Bank 15 percent loan

You must be over 18 to apply for a 15% Loan

African Bank 15 percent loan

This must reflect at least three salary deposits

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

Settlements

African Bank 15 percent loan

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

African Bank 15 percent loan

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

African Bank 15 percent loan

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 12-18 months.
Interest rate (APR) from 15% to 27.75%
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 R68.40. Representative APR 15%, Representative insurance rate 5.4%. Monthly instalment 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 27.75%
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 R68.40. Representative APR 15%, Representative insurance rate 5.4%. Monthly instalment amount payable R 2 036.03, total payable R 24 432.41

What our customers are saying

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