Consolidation Loan


Simplify your debt with one consolidation loan. Combine up to 5 loans into one single consolidation of

up to R200 000 and get one lower repayment



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

Consolidate your debt
Consolidate your debt

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

Simplify your management
Simplify your management

It simplifies your management of multiple lenders and multiple loans.

Consolidation of administration
Consolidation of administration

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

Reduced instalment
Reduced instalment

A reduced instalment frees up cash flow.

Access additional capital
Access additional capital

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

No settlement quote
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

Apply for a Loan today !

Please provide a valid email address

Your credit is insured

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 about taking out a loan with us? 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
Information sheet Sotho
Information sheet Zulu
Income Expense Declaration

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 R69.00.

Representative APR 15% ,Representative insurance rate 5.4%. Monthly instalment amount payable R 2 036.03 , total payable R 24 432.41