African Bank Personal Loan and Its Conditions

South Africa’s expanding financial and business market means there are more abundant opportunities to apply for personal loans and short term loans to meet financial needs. Do you need money to buy a car, house or to do renovation? To apply for online loan at African bank means-having a solid financial access to ready cash and credit when needed. Requirements for applying African Bank Personal Loan as stated in below:

African Bank (which offers continually innovating financial solutions) gives everything needed to apply and secure a personal cash advance as simple as possible. Beginning the application process can be as easy as contacting African bank’s sale contact centre where a bank representative will go over all the information needed  to secure personal financial credit. Once the application has been completed, the bank will review the  financial paperwork and make an approval based on the information customers provided. If approval is approved, a deposit will be made into customers account.

Cash amounts: R1000 to R250,000
Interest Rate APR: 15% to 27.50
Financial term: Range from 7-72 months (flexible terms)
Insurance rate: From 5.04% to 5.4%
Fixed repayment options: Exact amounts for each month

Calculation example:
Cash amount of R20,000 with a monthly repayment of R2,036 over a loan term of 12 months at a rate of interest per annum (fixed) of 15%. Additional fees: monthly admin fee R69.00 and once off initiation fee (capitalized) R1197 apply while representative insurance rate 5.4%. Total amount repayable is R24, 432. Please note that all prices include VAT.

Documentation need for consideration:
3 Bank statements showing salary deposits
Proof of South African residency
Most current Pay slip
South African green bar-coded identification
Must be over 18 to apply for a Loan from African Bank

Taking out a financial agreement with African Bank can help customers realize their financial dreams with personal loan repayment terms that easily fit different lifestyles and budgets. African Bank offers vast range of loan options from personal loan, consolidation loan, 15% loan to value-added deals which suit customer needs. Visit African Bank in person or online and start making the financial dreams come true.