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

 

Insurance Newsletter

Transfer your Home Loan

Rates from Prime - 2.25%