African Bank Debt Consolidation Loans 2025
Specialist debt consolidation loans for South African consumers, including those with impaired credit records. Get rates from 11.75% p.a. and consolidate up to R350,000 in debt.
Why Choose African Bank for Debt Consolidation?
African Bank Loan Products at a Glance
| Product | Interest Rate | Loan Amount | Min Income | Monthly Fee | Best For |
|---|---|---|---|---|---|
African Bank Personal Loan | 15.75% - 29.75% p.a. | R1,000 - R250,000 | R2,500 | R69 | General debt consolidation |
African Bank Consolidation Loan | 13.5% - 26.5% p.a. | R5,000 - R300,000 | R4,000 | R69 | Multiple creditors |
African Bank Gold Account Loan | 11.75% - 22.5% p.a. | R10,000 - R350,000 | R8,000 | R99 | Premium customers |
Compare African Bank Loan Features
| Feature | Personal Loan | Consolidation Loan | Gold Account |
|---|---|---|---|
| Interest Rate | 15.75% - 29.75% | 13.5% - 26.5% | 11.75% - 22.5% |
| Maximum Amount | R250,000 | R300,000 | R350,000 |
| Minimum Income | R2,500 | R4,000 | R8,000 |
| Approval Time | 24-72 hours | 24-48 hours | 24 hours |
| Monthly Fee | R69 | R69 | R99 |
| Credit Requirements | Accept impaired credit | Good recent history | Excellent history |
What Makes African Bank Different
Impaired Credit Acceptance
African Bank considers applications from customers with credit impairments
Key Benefits:
- Second chance financing
- Credit rehabilitation
- Flexible assessment
Direct Creditor Payments
Bank pays your creditors directly to ensure debts are settled
Key Benefits:
- Guaranteed debt settlement
- Reduced admin burden
- Peace of mind
Debt Counselling Support
Access to professional debt counselling and financial advice
Key Benefits:
- Budget planning
- Financial education
- Ongoing support
Flexible Terms
Repayment periods up to 84 months for larger consolidation amounts
Key Benefits:
- Lower monthly payments
- Manageable cash flow
- Budget flexibility
Detailed Product Information
African Bank Personal Loan
Unsecured personal loan for debt consolidation, including impaired credit
15.75% - 29.75% p.a.
R1,000 - R250,000
12 - 72 months
R69
11.4% of loan amount (max R1,140 + VAT)
Key Features
- Accept impaired credit records
- Quick online application
- Flexible repayment terms
- No collateral required
- Direct creditor payments available
Eligibility Requirements
- South African citizen/permanent resident
- Minimum income R2,500
- Permanent or contract employment
- Credit life insurance included
How to Apply for African Bank Debt Consolidation
Check Your Eligibility
Verify you meet African Bank's loan requirements
- • South African citizen/resident
- • Minimum income qualification
- • Valid contact details
- • Bank account details
Apply Online or In-Branch
Complete application online, by phone, or at a branch
- • Personal information
- • Employment details
- • Income information
- • Current debt details
Submit Documentation
Provide required supporting documents
- • Latest payslip
- • 3 months bank statements
- • ID document copy
- • Proof of residence
Credit Assessment
African Bank reviews application and credit profile
- • Credit bureau check
- • Affordability assessment
- • Employment verification
- • Debt verification
Approval & Payout
Receive approval and funds disbursement
- • Loan agreement signed
- • Credit life insurance activated
- • DebiCheck mandate signed
- • Creditor payment instructions
Benefits of African Bank Debt Consolidation
Accept Impaired Credit
African Bank specializes in helping customers with credit challenges
Example: Get approved even with blacklisting history
Lower Interest Than Credit Cards
Consolidation rates typically 10-15% lower than credit cards
Example: From 25% credit card rate to 15% consolidation rate
Single Monthly Payment
Combine multiple debts into one manageable payment
Example: From 6 payments to 1 payment per month
Fixed Interest Rate
Your rate stays the same throughout the loan term
Example: No surprise rate increases over 60 months
Direct Creditor Payments
African Bank can pay your creditors directly
Example: Peace of mind with automated debt settlement
Credit Rehabilitation
Consistent payments help rebuild your credit score
Example: Improve credit score over 12-24 months
Calculate Your Potential Savings
Current Debt Situation
Your Potential Savings
Enter your details and click "Calculate Savings" to see your potential monthly and total savings with African Bank debt consolidation.
Expert Tips for Successful Debt Consolidation
List All Your Debts
Include all credit cards, store accounts, and personal loans in your consolidation
Compare Total Cost
Calculate total interest plus fees to ensure you're saving money
Consider Your Budget
Choose a payment term that fits comfortably in your monthly budget
Avoid New Debt
Don't use credit cards after consolidation - focus on paying off the loan
Set Up DebiCheck
Automatic payments ensure you never miss a payment date
Monitor Your Progress
Track your decreasing debt balance and improving credit score
Ready to Consolidate Your Debt?
Get specialist help from African Bank's debt consolidation experts. Even with impaired credit, you can get back on track.