African Banks provide credit to people for the long as well as short term. The sum of money that an individual get is based on his/her income. The bank also provides online personal loans to people that they can apply for by visiting the official website of the bank. The bank also provides credit cards to its customers so that they can use them in case of a shortage of funds and return back later.
There are three personalized options that the bank provides that is a flexible loan, a fixed term loan, and an easy loan. The interest rate fluctuates from 15% to 27.75%. A person can apply for a loan of up to ₹250000 and can repay the amount from seven months to seventy-two months.
The bank also gives quick loans to customers. In this loan, a person gets a loan on the same day for an amount maximum of ₹10000. The Interest rate begins at 10.5% and the maximal time to repay the loan is a year(12 months).
African Bank provides 24*7 assistance to its customers. A person can take a loan and all other services hassle-free. There are certain proofs that a bank asks to give loan. So make sure that you get all the documents ready to save time.
Who is Eligible for African Bank Loan?
If you need short-term or even long-term money and have no sources then come and check the eligibility criteria for African Bank Loan:
- The individual must not be minor that is he/she should be 18 or more.
- A person has to provide income proof.
- A mandatory residence proof is required that should not be more than three months old.
What are Application Requirements?
Every bank has different application requirements and to get loan approval, it is vital to provide these documents. So, check the list below :
- A residence proof is mandatory.
- A bank statement that shows the latest three months’ salary.
- An email address that is working.
- An obligatory residence proof.
- An ID proof that is valid and issued by the South African Government.
- A person’s age should be minimum of 18 years
How to Apply for an African Bank loan application?
There are simple steps that will assist in applying the loan application of African Bank:
- The first and foremost step is to visit the African Bank website to apply loan.
- Further, you will see the bank has given certain instructions so read all of them carefully.
- Next, add all the mandatory information that the bank needs in the form and make sure that you provide all the details correctly.
- Lastly, click on apply online after you have checked all the information.
How do African Bank loans work?
African banks provide loans to customers that can be taken upto ₹250000 depending on your need and source of income. You simply have to apply for the loan on the bank website or can call customer service for help. Ask for the mandatory documents and eligibility criteria. Just add the necessary details that are asked in the application form and submit the form and wait for bank’s response.
Do African Banks offer student loans?
African Bank thinks for the welfare of the nation as well as society so they provide various types of loans and one of them is education loans that a student can take for studying both at a private institution and government schools/universities.
Is it easy to get a loan from an African Bank?
Yes, it is quite simple to get a loan from an African Bank but you must be eligible for the loan. In addition to this, you should have all the documents ready that the bank asks for.
What are African Bank Loan Contact Details?
There are various ways that you can contact the African Bank for loans.
- Just give a call on 0860 333 0004/ 086 111 1011
- The individual can go to the bank’s Head office. The address is 59 16th Road, Midrand, Johannesburg.
- A person can email them at [email protected]
How much do I qualify for an African bank loan?
The loan amount that you want to get from the bank totally depends on your income. A person can apply and get a loan between ₹2000 to ₹250000. The interest that an individual has to pay varies from 15% to 24.5% per annum and the time period to return money depends on the monthly installment, it varies from seven months to seventy-two months.
How to check my African bank loan application status?
The most convenient method to know the exact position of your loan application is to visit the bank but in case you want to check at home or office, a person can visit the official website and add the application reference number that the bank has given at the time of loan application.
Digital marketer by profession and author by interest. He is the mind behind starting this blog. While surfing the internet, Ajay found that many people are facing problems while filling up the application forms. To overcome this, Ajay decided to start a blog so that users will get proper guidance on how to apply for any online/offline applications.