Important disclosure

African Bank Personal Loans

African Bank Limited is a South African retail bank offering a wide range of financial products and services. The bank is controlled by the South African Reserve Bank and operates primarily in South Africa.

If you are planning to buy a new vehicle, renovate your home or invest in your education, African Bank has the right personal loan for you.

To help you budget, we have created a loan calculator that can determine your likely monthly payment. Once you input the loan amount, simply adjust the loan term and then click calculate. It’s easy to use so go ahead and give it a try.

Calculate repayments

Loan Amount



3 months

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Minimum and maximum loan periods vary between 1 months and 10 years. Comparison interest rates vary between 6.55% and 60% p.a. Total interest repayments vary between R685.05 and R844.12 over the life of the loan. *Comparison rate is based on an unsecured loan of R20,000 for a term of 3 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. These rates can change without further notice. All rates quoted are per annum. For more information regarding fees click on "View fees & additional info +" for each product or contact the provider.

African Bank Personal Loan Calculator & Product Overview

You’ll probably agree that a big part of everyday life revolves around money. The focus is always on making every dollar count, whether you’re paying bills, buying a car, or getting ahead with your education. When it comes to value for money, African Bank is an authorised financial service provider that understands your personal needs.

This is a huge relief if you find yourself in a tight spot. An African Bank loan delivers peace of mind because it is quickly available to cover emergencies or crucial requirements. Here is what makes African Bank a reliable backup for you:

  • The bank has been established in South Africa for a long time now. This means they are in a position to understand the unique financial needs of South Africans. Their purpose is to provide services that help you get ahead in life.
  • The biggest value they offer to you is transparency. You can, therefore, expect to have all the necessary information, such as total costs, communicated to you before you borrow money.
  • Lastly, the bank is a reputable, registered credit provider that operates in compliance with the National Credit Act, No 34 of 2005.

How does it work when you borrow an African Bank personal loan?

When applying for African Bank personal loans, you should pick the option that meets your individual needs. African Bank offers personalised loan options with the following features:

  • Flexible terms: You can apply for a maximum of R250 000 and make repayments over 7 to 72 months.
  • Fixed repayments: You stay in control of your budget with monthly instalments that never change.
  • Easy application: You can apply online at your convenience if you want to avoid phone calls and branch visits.

African Bank personal loan application requirements

To apply for African Bank loans, you need to meet the following requirements:

  • Recent proof of income showing at least 3 monthly salary deposits;
  • Proof of residence;
  • You should be over the legal age of eighteen;
  • Latest bank statements showing at least 3 monthly salary deposits;
  • A valid South African government-issued ID; and
  • An active email address.

What are the African Bank interest rates?

For African Bank loans, interest rates are as follows:

  • Interest rate (APR) from 15% to 27.75%.
  • In addition, insurance rates range from 5.04% to 5.4%.

Here’s how the African Bank loan application process works

Before you start the African Bank online application process, we recommend using the loan calculator showcased on this page. Once you have figured out your desired monthly repayments, the next step is clicking the “Go to Site” button. This sends you directly to the African Bank website where you can make an online application.

The process involves uploading the required documents and filling out an application form. After submitting, representatives from African Bank will get in touch to finalise the offer if your application proves to be successful.

Advantages of African Bank loans

  • The money gets deposited straight into your bank account.
  • Flexible repayment terms; you can pay it over 72 months.
  • The repayment amount is fixed, so you know exactly how much you are paying every month.
  • The application can be made online; there is no need to leave your home and visit a branch.
  • Choosing the break feature allows existing customers to skip a few payments on qualifying products.
  • Loan settlement options are available in the event of death, disability, retrenchment, or unpaid leave.
  • African Bank interest rates are competitive and affordable.

How to make African Bank loan repayments

You can find your repayment dates on the front page of the credit agreement.

The first repayment can be made seven days after the money is deposited into your bank account. All other instalments are due on every first day of the month.

Below are the repayment methods you can use:

  • Payroll deduction;
  • Debit order or stop order from your bank account;
  • Monthly deductions on the day you are paid;
  • In store payments;
  • EFT; and
  • Visa or Mastercard payment;

Benefits of applying for an African Bank personal loan

  • Easy to manage

When you need cash, it is better to apply for a single amount to cover your costs than to have multiple credit card bills with different interest rates. With an African Bank loan, you have a predictable repayment schedule and a fixed monthly instalment.

  • Provides more money than a credit card

An African Bank online loan can provide you with a larger amount of money than credit card limits. Sometimes you can get it a more favourable interest rate as well.

  • Improves your credit rating

If you take out an African Bank personal loan, it can help you to pay back some of your debts which improves your credit rating. You can also increase your credit score by paying back African Bank personal loans within the specified time frame. Banks and finance providers will check this history and will be more willing to approve your future credit requests.

What are other types of loans available at African Bank?

  • African Bank consolidation loan

You can apply for debt consolidation loans even if you have bad credit. These types of loans help you to pay off your debts by combining them into single monthly instalments.

  • Value-added deals

African Bank partners with other South African leading brands to offer you entertainment and education vouchers that can be added to your credit. You can choose a deal of your liking and attach it to your loan during application.

  • The 15% loan

This is a low-interest loan with an interest rate fixed at 15%. Like African Bank personal loan, it also has flexible payment terms and fixed monthly instalments. You can apply for the 15% loan online, over the phone, or visit an African Bank branch.

Frequently asked questions about African Bank loans

Can I get a personal loan at African Bank if I am blacklisted?

Unfortunately, no. There are no African Bank loans for blacklisted individuals. You can, however, try to apply for a consolidation loan if you are blacklisted. You can benefit from African Bank loan terms that range from between 18 and 60 months.

Do I qualify for an African Bank loan?

You can qualify for an African Bank online loan if you meet their requirements. You have to be older than 18 (legal age), and you also need to supply the bank with proof of income. Furthermore, proof of residence not older than 3 months is required.

What is the maximum loan amount I can take at African Bank?

African Bank can approve personal loans of not more than R250 000. Their finance options have flexible terms and fixed repayment amounts.

How to apply for a personal loan with African Bank

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