African Bank Personal Loans Review

Product Review

With African Bank you are able to choose the loan that will suit your needs. The credit that they offer is tailored to suit your needs as well as your financial situation.

African Bank will offer you a range of loans that also have a comfortable repayment plan.

The loan will appear directly in your bank account which means you will get quick access and you are able to pay off the loan with simple debit orders.

Application Process

If you want to apply for a loan with African Bank you need to be over 18 years old and take your ID book, latest original pay slip, a bank statement for the moth past and a proof of residence to your nearest African Bank branch.

You are also able to apply online by filling out your details in the online form.


  • Loan amounts from R500 to R150 000
  • Repayment plans for between 3 to 60 months
  • Repayments are fixed
  • Loan is paid into your bank account
  • Repayments can be made through a debit order


Interest Rate/APR

African Bank will charge interest on the balance of the amount outstanding, from time to time, either at a fixed or variable rate of interest, and this rate is indicated in the “PRE-AGREEMENT STATEMENT AND QUOTATION FOR SMALL AND INTERMEDIATE CREDIT AGREEMENTS FOR A CREDIT TRANSACTION (LOAN)”. Interest will be calculated daily on the outstanding balance and will be added to the outstanding balance of your once a month (capitalized monthly, in arrears.) 

Implications of Non-Payment

If i default on my loan, I agree that I will be liable for, and pay all African Bank’s legal feees and costs on an attorney and client scale, as well as any neccessary disbursements and other charges (including collection costs such as tracing cost and collection commission that the Bank may incur in collecting the debt from me. I further agree that I will be liable to pay interest at the the contractual rate on the said disbursements and charges that the Bank may levy in the process of collecting the debt from me.

Financial Implications

Will be stated in Quotation.

Potential Impact to Users’ Credit Score

Bank credit checks affecting credit score


Unless stated otherwise there are no renewals for the loan service.

Collection Practices

Debit order over the repayment period