Consolidation Loan
Things work better when we work together. Make the most of your budget when you combine your loans today. Mix ‘n match up to 5 loans into 1 easy-to-manage Consolidation Loan to the value of R350 000 and save cash with a lower repayment. Earn 1.3% of your loan instalments back in Audacious Rewards points
More about the Consolidation Loan
Lock interest on your loans with a fixed interest rate and less fees on one loan repayment.
Improve your cash flow, repayment terms from 12 to 72 months.
No settlement quotes are required. Proof of payment that your loans have been settled.
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:
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
Rest assured that your credit is insured should anything happen to you that would prevent you from making repayments.
Settlements
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
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
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
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 R69.00 post 1% VAT increase. Representative APR 15% ,Representative insurance rate 5.4%. Monthly installment amount payable R 2 036What our customers are saying
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