The 15% loan

In an ever-changing world, financial reassurance is like a breath of fresh air, especially when instability seems like the new norm. Fortunately, the 15% loan offers you a fixed interest rate and fixed monthly repayments for the term of your loan. We give you the assurance that when everything else changes around you, the 15% loan won’t! You don’t have to worry about fluctuations when the economy changes. If you’re focused on knowing exactly how your pocket will be affected over a certain period, the 15% loan is your solution – with these added benefits:

Stability
Stability

You know exactly how much your monthly repayment is - the same amount each month for the term of your loan.

Fixed rate
Fixed rate

Your interest rate remains fixed when you take out the 15% loan, regardless of whether the interest rate increases or decreases during the term of your loan.

Up to R50 000
Up to R50 000

Allows you to finance your goals with loan offers from R5 000 to R50 000.

Comfortable terms
Comfortable terms

Terms between 6 and 18 months, designed to suit your needs.

Please note: Only one active 15% loan can be held by a customer at a time. Remember however, if you have an active 15% loan you can apply for any other product in our range including Credit, Savings and Investments and Funeral Insurance.


How to apply

Applying for your Personal 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 to upload with your application, or when you visit a branch.

Identity document
Identity document
Latest original pay slip
Latest original pay slip
Latest bank statement reflecting 3 salary deposits.
Latest bank statement reflecting 3 salary deposits.
Proof of residence
Proof of residence

Apply for a Loan today !

Please provide a valid email address

Insurance

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.

INSTALMENTS

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).

Downloads

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 to download.

New Marketing flyer
Panel combo flyer
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 R68.40.

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