Over the past few years, African Bank has proven to be a well reputed and one of the most trusted banks in South Africa. A lot of bond originators will choose African Bank because of their low interest rates and flexible terms which they offer to their clients.
Applying for a long term personal loan
African bank doesn’t have any home loan options but they do however have long term personal loans. By applying for a long term personal loan from African Bank will allow you to borrow up to R180 000 and settle it over a term of 84 months. This is enough money to buy a small home, further your education or renovate your existing home.
You can expect to pay lower interest rates by obtaining a smaller loan. It is clear that smaller loans are quicker and easier to pay of and is thus perfect for people with a smaller income.
You have to know that if you want to apply for a loan from African Bank, then you have to make use of a bond originator, to ensure that you get the best possible deal on the loan. They will compare the different financial institutions to see that you get the lowest interest rates possible. They will make sure that you save money and enjoy all of the possible benefits which the bank has to offer.
African Bank Loans lending criteria
It is important that you know, that when applying for a loan from African Bank, then you will have to meet up with the minimum lending criteria of the bank. You must be over the age of 18 years old, poses a South African ID document and must have been permanently employed for at least three months. You credit must also be up to standard. Make sure that you have all the above mentioned before approaching the bank.
Make use of a Bond Originator
I would strongly suggest that you make use of a bond originator to apply for the loan. They will negotiate on behalf of you to make sure that you get the best possible deal. You will find that if you go straight to the bank, then it can become very technical. Bond originators are professional in this field. They will speed up the process and give you abetter chance of obtaining that much needed loan.
Bond originators will look at the situation in your interests. They will make sure that you make the correct financial decisions to ensure that you will be able to afford the loan. We have seen a lot of people who try to do this on their own, ending up with years of financial stress. The bond originators are professionals, trust them to help you.