A debt consolidation loan is a great idea for people who would like to reduce their monthly payments to their creditors and only have one, affordable payment to make. The consolidation loans are available from all the major banks in South Africa and as long as you have a good credit record and permanent employment, you may qualify for a consolidation loan.
An African Bank debt consolidation loan is a credit management product that allows you to settle other debt and take the remaining capital out all in one loan. This helps you manage your credit simpler and more cost-effective way. There are numerous benefits to this consolidation loan, including:
- You can consolidate your debt with repayment terms between 18 and 60 months
- You simplify the administration of multiple lenders and multiple loans
- You can save, due to the consolidation of administration fees
- Have reduced instalment and frees up cash flow
- A reduced instalment may also result in the customer being able to access additional capital
- No settlement quotes are required and customers can consolidate up to five accounts from a wide range of credit providers
A consolidation loan is a great idea if you want to simply your creditors make one convenient payment per month. You can use this loan to settle all your outstanding debt, and then pay off your African Bank loan every month until it is paid up. No more handling of multiple creditors and spending your hard earned money on increasing payments and high interest rates.
You can apply for a consolidation loan online, by visiting www.africanbank.co.za and filling in your details. You’ll get an immediate offer, which you can choose to take up further with a branch of your choice. A consultant will contact you to finalize the loan application.
