African Bank consolidation loan

Consolidation loan

Simplify your debt with one consolidation loan. Combine up to 5 loans into one single consolidation of up to R250 000 and get one lower repayment

More about the Consolidation Loan

African Bank consolidation loan
LOWER REPAYMENTS

Lock interest on your loans with a fixed interest rate and less fees on one loan repayment.

African Bank consolidation loan
FLEXIBLE TERMS

Improve your cash flow, repayment terms from 12 to 72 months.

African Bank consolidation loan
CONVENIENT PROCESS

No settlement quotes are required. Proof of payment that your loans has been settled.

African Bank consolidation loan
CHOOSE YOUR BREAK

Choose your break on your qualifying consolidation and for one month, take a break on your repayment.

What you need to apply for a Consolidation Loan

For an African Bank Consolidation Loan offer suited to your lifestyle, you will need to have the following documents on hand:

African Bank consolidation loan

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

African Bank consolidation loan

This must not be older than three months

African Bank consolidation loan

You must be over 18 to apply for a Consolidation Loan

African Bank consolidation 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 consolidation 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 consolidation 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 consolidation 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 18-72 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

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.
Payment options range from 9-72 months.
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

Apply for credit today

Click call me back to speak to our consultants
or apply to create application online.

Request for call back received

Thank you for requesting us to call you
back. Your request has been sent
successfully and one of our consultants
will contact you shortly.

Consultant