African Bank Loan SA: Interest Rate, Requirements And How To Apply

    Are you searching for how to get African Bank Loan in South Africa? You’re at the right page. This article features a complete guide on how you can easily borrow money from African Bank SA. Read on!

    African Bank Limited, is a retail bank in South Africa, it was founded on the 4th of April, 2015. The bank offers financial products and services. It is licensed by the South African Reserve Bank (SARB) as a “locally controlled bank”.

    The bank is headquartered in Midrand, South Africa, it has different branches across the country in addition to a full digital channel offering; as well as sales, collections and great customer service.

    African Bank are continually innovating financial solutions to the citizens of South Africa, their financial solution are very valuable and more accessible. They call it humanity through banking.

    African Bank Loan

    African Bank provides financial aid to the citizens of South Africa by giving them loan to attend to one pressing need or the other, to pay back at a stipulated period of time.

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    The bank offers a maximum amount of R250,000 and a minimum amount of R2,000 to be paid back in 7 – 72 months.

    African Bank Loan Calculator

    The higher the loan tenor requested, the higher the interest rate. You can use the African bank loan calculator online from their official website at https://africanbank.co.za/en/home/product-personal-loan/

    It is important to note that, the African Bank Loan Calculator provides only indicative values. The Bank gives no guarantees or warranties on the values displayed. However, you can get an accurate detailed information concerning the loans of African bank from the following:

    • A full Loan application on the African Bank’s official website
    • The African Banking App or on Online Banking
    • Or in their other channels like their Branches and Call Centre

    African Bank Loan For Blacklisted

    Unfortunately the African Bank does not give out loan to blacklisted individuals. However, clients may be able to apply for consolidation loans. These loans can be helpful for blacklisted individuals.

    The Loan Requirements

    To qualify for African bank loan, you must be over 18 years old and you’ll be required to provide a recent proof of income which shows at least three salary deposits, a valid proof of residence not more than three months and a recent bank statement showing three salary deposits.

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    Interest Rate

    African Bank offers a fixed interest rate of 12%, this interest rate is low to ensure their customers have the peace of mind of knowing that their repayments will stay the same, because of the fixed interest rate and fixed monthly repayments.

    How Do I Repay My African Bank Loan?

    You can call African Bank for a repayment amount if you want to pay your outstanding balance. You can also increase your settlement amounts to pay off your Loan quicker. Feel free to contact the bank to discuss your options.

    African Bank Contact Details

    You can contact African Bank by visiting their nearest branch or simply call: 0861 111 011

    You can also contact the bank via email: relations@africanbank.co.za.

    Conclusion

    You can bank safely from the comfort of your home with African bank. You can apply for a loan, download statements, change card limits & buy prepaid airtime, data, electricity and water.

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