Rating based on 4 reviews

African Bank Loan

  • Personal loans up to R250,000
  • Low-interest starting from 15%
  • Repayment up to 72 months

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African Bank homepage
Author African Bank. Screenshot of African Bank website.
[Accessed January 30, 2023]

About African Bank

If you’re looking for a personal loan that’s easy to acquire, transparent, and honest then African Bank could be the answer.

They’ve become a household name over the years and people all over South Africa have entrusted them with their financial needs.

Who is African Bank?

African Bank is a financial services provider offering South Africans a wide variety of financial solutions ranging from loans to banking, credit, insurance, and investments.

They offer you all your financial needs in one place making it easy and convenient. By continuously working to offer you innovative and up-to-date products and services, they strive to offer you relevant and affordable finance options.

What is a personal loan?

A personal loan is generally a large, unsecured amount that’s payable over a longer period that usually ranges between 24 and 84 months. Unlike other credit options, a personal loan does not limit you to how you spend the money. So, whether your car broke down, you want to pay for a wedding, take a well-deserved holiday, renovate your home, or consolidate debt, the choice is yours.

African Bank strives to honour its values

Every successful business is based on values that are set out during its establishment. These values indicate the quality of service you can expect and serves as a basis for how operations are run. At African Bank, the value is simple, they strive to achieve full transparency.

  • They promise to always provide you with clear and concise communication.
  • African Bank believes in respectfully considering your ideas and opinions while voicing their own.
  • Taking responsibility for their actions and business ethic is a high priority.
  • The promises made by African Bank are upheld and honoured.
  • Complete transparency is always at the top of their agenda

African Bank Services

When it comes to customer service you can rest assured that African Bank strives to continuously improve on the outstanding service they provide. Each customer is treated on the basis of individuality and your financial well-being is their main concern.

African Bank offers affordable personal loans

The personal loan offered by African Bank is based on your current credit profile and affordability. Based on these factors, you could enjoy loan amounts ranging between R2,000 to R350,000. Interest rates (APR) are between 15% and 24.50% and insurance rates range between 5.04% and 5.4%.

The repayment term can be anywhere between 7 and 72 months. The repayment terms are fixed and customisable and you’ll have peace of mind knowing that all loans offered by African Bank have vital cover included.

The loan calculator for a clear picture

African Bank has made a free online loan calculator available on the website. This calculator allows you to enter the desired loan amount and repayment term to get a better indication of what you can expect.

If, for instance, you need a loan of R170,000 and you choose a repayment term of 60 months, you can expect a fixed monthly instalment of R5,839.54. Using the loan calculator before you apply, assists you in calculating whether you can afford the monthly premium.

Get more value for your money

Everyone likes to get a little extra value for their money. African Bank strives to make your money go further and offer you more value by offering you a loan with a fixed premium and pliable terms.

Their easy and convenient banking app puts all the power in your hands allowing you to bank on the go from wherever you are. You can do everything money-related from buying electricity, paying your bills, or downloading statements on the app.

African Bank – Personal loan

  • Loan Type Personal loans
  • Interest Rate 1524.50% p/a
  • Loan Amount up to R250,000
  • Repayment 7 months to 72 months

Benefits of African Bank

  • Flexible repayment terms
  • Fixed monthly repayment
  • Simple online application

Personal loan calculator

The interest rate of a loan will vary based on your credit score and risk profile.
This personal loan calculator is for illustration purposes only.
The use of this loan calculator is subject to our terms of use.

Get an affordable and flexible personal loan with African Bank

By allowing you to apply for a personal loan online and through the African Bank app, they’ve given convenience a new meaning. Living in a fast-paced world often leaves little time to queue with reams of paperwork.

African Bank’s personal loan criteria

Every credit application has a basic criterion set out. This generally means that you have to meet a certain requirement to be eligible to apply.

  • Be permanently employed
  • Meet the minimum age requirement of 18 years old
  • Have a bank account registered in your name
  • South African ID document/Smartcard

Documents required to complete the application

Applying for a personal loan will require you to provide some documentation to verify the information supplied to them. These documents are kept to a minimum and are uploaded along with your completed application. Ensure you have:

  • South African ID document/Smartcard
  • Bank statements as proof of your account
  • Three most recent payslips as proof of income
  • Proof of address not older than three months

The application in 5 easy-to-follow steps

  1. The first section of the application requires your personal information like your name and surname, ID number, cellphone number, and email address. When you’ve completed this you can click on next.
  2. Part two requires your financial information like employment details, employer details, monthly income and expenses, and living expenses.
  3. Once you’ve completed this information they’ll send a one-time pin to your cellphone number. Ensure that your phone is on and enter the OTP in the section provided.
  4. If the OTP is confirmed, an assessment is done along with a credit check and affordability. As soon as this is done, you’ll be presented with an offer.
  5. When you decide to accept and agree to the offer, you’ll sign the contract and the money is deposited into your bank account.

The main benefits of an African Bank personal loan

  • Affordable
  • Easy to apply for
  • Convenient
  • Flexible repayment terms
  • Fixed instalments
  • Transparent

Choose African Bank as your trusted financial partner

When choosing a lender to obtain a personal loan, it’s important to choose wisely. Ensure you partner with a lender that’s trustworthy and reliable.

With African Bank’s transparency, you can rest assured that you’ll always know what you’re paying for. They always put your financial well-being first and you can trust them with all your financial needs.

man holding thumbs up

African Bank is a trusted & reliable provider of personal loans

In our review, African Bank adheres to the compliance criteria in accordance with the National Credit Act, where the granting the loan will not cause financial distress to the consumer.

✅ African Bank is a registered credit provider in South Africa: NCRCP 7638

Customer Reviews & Testimonials

August 2019

African Bank is the best Bank. They have survived a lot but have still tried their best to improve the experience. We have come far from where we were. Baby steps, it will get better with time.

Tlhodi M
— Randburg —

July 2020

African Bank, you can rely on them for help. Everything was quick and easy. They helped me big time with my financial situation.

Buyi N
— Johannesburg —

April 2020

What a wonderful bank. I was truly surprised at the amazing service. The online staff and Facebook team have been wonderful. Outstanding service and very friendly.

Brandon L
— Soweto —

African Bank Contact

Physical Address

  • Old Pretoria Rd Shop 53B, Boulders Shopping Centre, Halfway House, Midrand, Johannesburg Gauteng 1682 South Africa
  • Get Directions

Postal Address

  • Private Bag x170 Midrand, , Johannesburg, 1685 , South Africa

Opening Hours

  • Monday 08:30 – 17:00
  • Tuesday 08:30 – 17:00
  • Wednesday 08:30 – 17:00
  • Thursday 08:30 – 17:00
  • Friday 08:30 – 17:00
  • Saturday 09:00 – 13:00
  • Sunday – Closed