African Bank offers personal loans from as low as R15, 000 to R200, 000. It is flexible in the sense that customers can repay between 7 to 72 months according to their monthly ability
With economic growth, over the years there has been increased need for financial empowerment to the people. Institutions that grow with the people and understand their day to day struggles have been well sought after. African Bank has strived to satisfy the needs of the people by formulating products that empower its clients. This is majorly in the form of loans.
Types of Loans in African Bank
Loans in Africa are usually shunned by the people mainly because they are incomprehensive. African Bank has formed a variety of large loans to choose from and great deals to go with. These loans are:
African Bank Personal Loans: This type of product offers loans from as low as R15, 000 to R200, 000. It is flexible in the sense that customers can repay between 7 to 72 months according to their monthly ability. The bank has an online service where applicants can apply for the credit from their phone and get a quote in about 3 minutes. The application process is simple whether done online or at the nearest branch. Their interest rates range between 15%-27.75%.
African Bank Consolidation Credit: This type of facility came about from a need to have a better cash flow ideally for businesses’ working capital. This feature allows you to have as much as five applications and consolidate them into a single repayment of up to R200, 000. Credit can be repaid within a reasonable time of 12-72 months.
• 15% Rate Credit: Peace of mind is something we all desire and no other type of credit helps you achieve this than the fixed interest, fixed monthly repayment loan. Customers can acquire a loan of up to R50, 000 and pay it over 12-18 months. It enables customers to plan themselves properly and the application process is also very simple.
• It gets better with the value-added deals. Through partnerships with various leading brands, African bank can add value to loans by giving great deals such as mobile phones and extra value cards on every credit products.
Credit Insurance
With the various loans to suit someones needs, African bank doesn’t stop there. Customers can get insurance cover on their credit regarding repayments in case of an accident, debt repayment breaks and even exclusion from the payment in the event of death. This surely tops Africa loans.