Are you swamped with a lot of loans and cannot find yourself out of debt because of multiple loans in your name. We have already discussed the best practices to obtain good credit. Why not consolidate your loans into one solid payment at lowest rates with African Bank.
This comes to my attention has a great idea to have your loans added up together. However, with African Bank, you can combine up to 5 loans into one consolidation of up to a massive R250 000. We often find ourselves in a pickle that we find impossible to get out of, but not when you have a bank that cares for your financial health.
[ht_message mstyle=”info” title=”” show_icon=”” id=”” class=”” style=”” ]The idea behind consolidation loans is to help you manage your money, to be worry-free about making multiple payments when you can just settle your debts and focus on a fixed interest rate and less fees on just one loan repayment that works best for you[/ht_message]
You can choose to make payments from 12 to 72 month with African Bank; this will help improve your cash flow.
With African Bank, you don’t have to worry about settlement quotes – and there will be proof of payment provided that all of your loans have been settled.
Get a one month break on your qualifying consolidation, we all deserve a break, it’s your choice.
Just like with any application process African bank will need the following to qualify for a consolidation loan:
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- Proof of incoming (3 months latest salary deposits)
- Proof of residence
- Latest 3 month Bank Statement
- Must be 18 years or older
African Bank will not leave you or your family stranded in an unfortunate event that unforeseen circumstances knocks at your door, anything that can prevent you from making usual repayments, African Bank got you covered with Credit Life Insurance.
Your outstanding loans can either be settled as per agreement or pay installments as per credit agreement, should you encounter a permanent disability, temporary disability, unpaid leave, retrenchment or God Forbid, death.
African Bank gives you an opportunity to take a break from payments, isn’t that great? Use that to your advantage, it’s your right.
However, African Bank stresses that if you are a Category B Consumer, when it comes to Credit Insurance, you will only be covered to death, in the unfortunate event that you pass on; your loan/credit card debt will be settled.
[ht_message mstyle=”danger” title=”” show_icon=”” id=”” class=”” style=”” ]Interest rates range from 15% to 27.5% and the insurance rate ranges from 5.04% to 5.4%[/ht_message]