African Bank — loans online in South Africa

African Bank Loan is a personal loan from African Bank Limited, an authorised financial services provider and registered credit provider in South Africa (NCRCP7638). It offers unsecured loans of up to R250,000 with fixed monthly repayments and flexible terms from 12 to 72 months. Funds are paid into your bank account after approval.

Loan terms

• Loan amount: from R500 to R250,000
• Repayment term: from 12 to 72 months
• Interest rate: from as low as 12% fixed; representative example shows 15% for a R20,000 loan over 12 months
• Initiation fee: R1,197 (capitalised) for a R20,000 loan in the representative example
• Monthly admin fee: R69

Borrower requirements

• Be 18 years or older.
• Provide proof of income.
• Provide proof of residence.
• Provide a bank statement.
• Be employed and pass affordability assessment.

How to apply and get a loan

1. Visit africanbank.co.za and click Get Started, or download the African Bank app from Google Play Store.
2. Complete the online application form and agree to the terms.
3. African Bank can approve applications on the same day and disburse funds within 24 to 72 hours.

Existing customers can use the "Choose Your Break" feature to take an agreed break from repayments if needed.

Repayment and payment methods

You repay via fixed monthly instalments.

Custom loan terms and fixed repayments are a core feature.

You can manage your account and repay via the African Bank App.

Other terms

Early repayment: not explicitly detailed on the public pages; standard NCA rules apply.

Late payment: standard NCA rules apply; late fees and adverse credit reporting may apply.

Choose Your Break: available to existing customers for an agreed break from repayments when needed.

Interest is fixed for the term in the representative example; your rate will be determined based on your individual profile.

Features

• Fixed monthly repayments.
• Custom loan terms (12–72 months).
• Manage your loan via the African Bank App.
• "Choose Your Break" for existing customers.
• Interest from as low as 12% fixed.
• Same-day approval possible; payout within 24–72 hours.

Representative example: R20,000 over 12 months at approximately 15% — initiation fee R1,197, monthly admin fee R69, monthly instalment R2,036, total amount payable R24,432 (includes insurance at representative rate 5.4%).