|
Category:
South Africa
/
Credit
/
Personal
Loans /
African
Bank
Personal
Loans by African Bank
A
personal loan is a loan granted by a financial institution for personal
use.
It can be either a secured or unsecured loan and is based on the
integrity and payment ability of the borrower.
Personal loans can be used for Home Improvements, to pay Study Fees,
School Fees, to pay for a funeral, to buy retail items, for personal use
and more.
The National Credit
Act became effective on 1 June 2006 and introduced new rights for
consumers and measures that allow consumers to make informed decisions
before buying on credit.
New regulations under
the act specify maximum interest rates and transaction fees that can be
charged on loans and credit agreements by credit providers.
Also see:
Credit Life
Insurance (life cover for outstanding debt)
To apply for an African
Bank Personal Loan,
click here
|