Before we delve into their loan products, we just need to step back and look at African bank as a whole. They were recently in the news and had some internal problems due to the fact the there was an issue with the amount of loans they were giving to customers. Since then they have recovered very nicely and now seem to back on track and offering responsible lending to a wide array of customers across South Africa.
African bank loans vary from R500 up to R150 000 and offer the customers' repayment term sup to 60 months or 5 years. They offer very convenient repayment options, which include debit orders from your bank account, thus making it easy to monitor and track your repayments.
You can easily contact them via their national call centre or you simply apply online on their website, buy completing the online application form. Another option is that you can simply your nearest branch and apply within the bank for your loan.
To apply they will require that you bring along or provide them with your identity document, latest payslip, one month's bank statement and proof of residence. Please note as with a proof of address, you do an account that states your name and physical address very clearly and should not be older than 3 months form the current date.
If you are looking for bank loan, then be sure to contact them to find out more about their loan products and what they offer in terms of repayment instalments as well as credit cover in case something do happen like a disability or anything of that nature.
There are still some financial institutions that do offer great repayment rates, so be sure to enquire about this when speaking to an African bank consultant about your loan application. We will keep you updated on any updates related to the bank loans and be sure to check back soon to read all the latest reviews.