African Bank | Loans | Prime Loans

Prime Loan

For those who know exactly what moments and life events they need financial assistance for, knowing how your finances will be affected in the long run is equally as important. A Prime Loan allows you to take out a loan with a fixed payment option that you don’t have to worry about fluctuating when the economy changes. If you’re focused on knowing exactly how your pocket will be affected over a certain period of time, a Prime Loan could just be for you – with these added benefits:

Prime interest

Loan is offered at the current prime interest rate.

Fixed rate

Your interest rate is fixed when you take out the loan so regardless of whether the prime interest rate increases or decreases during the term of your loan, it will not affect your repayments.

Loans up to R20 000

Allows you to finance your prime moments with loan offers from R1000 to R20 000

Comfortable repayment

Comfortable repayment period between 3 to 18 months

Please Note: Only one active Prime Loan can be held by a customer at a time. However, if you have an active Prime Loan you can apply for any of our other additional products.

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

Latest original pay slip

Latest bank statement reflecting 3 salary deposits.

Proof of residence

Find out what you qualify for right now


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 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.

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Information sheet Afrikaans
Information sheet English
Information sheet Sotho
Information sheet Zulu
Income Expense Declaration

Payment options range from 3 to 72 months. Min interest rate (APR) from 10,5% to Max interest rate (APR) of 28,0%.
Min insurance rate from 5,0% to Max insurance rate of 14,0%.  Insurance flat fee of R12.

*Representative example: Credit of R20 000 borrowed for 12 months. Once-off Initiation fee: R1 197.Monthly admin fee R68,40.
Representative APR 10,5%. Representative Insurance Rate of 10%. Insurance Flat Fee R12.
Monthly instalment amount payable: R2 049,05. Total amount payable: R 24 588.60