Company:
African Bank
Address:
59 16th Rd, Halfway House Estate, Midrand, 1685
Company Reg no.: 2014/176899/06, Credit provider Reg no.: NCRCP7638
I applied for R30k and didn't get the full amount I wanted. Was disappointed at first but actually I'm glad I didn't take on a bigger instalment. The application wasn't difficult and they showed me what I'd pay monthly before accepting. Just check that total repayment properly, guys.
My loan itself was fine, the frustrating part came when I needed help with the account. I phoned more than once and got different answers from different consultants. Eventually somebody sorted it out but it took way more effort than it should have. Loan 7/10, service maybe 4/10.
after my loan was paid up, i still saw a deduction query and had to contact them. they reversed it later, but it gave me a fright. keep all paid-up letters and screenshots. the bank is legit but admin problems do happen.
Used African Bank to consolidate small debts. The monthly payment became easier to manage, but the paperwork took time and they asked for updated bank statements twice. Overall useful, but not something to rush through.
African Bank gave me a bigger loan than payday lenders and the term was flexible. The consultant explained the instalment and insurance properly. Payout was quick after approval. just be honest with your expenses because the repayment is long.
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Interest |
Loan amount |
Term |
NCR Registered |
||
|---|---|---|---|---|---|
|
APR from 29.25%
|
R500 — R8,000
|
from 5 to 35 days
|
Company Reg no.: 2024/739416/07, Credit provider Reg. no.: NCRCP20937
|
|
|
APR up to 60%
|
R500 — R4,000
|
from 5 to 90 days
|
Company Reg no.: 2023/805154/07, Credit provider Reg no.: NCRCP17814
|
|
|
5% per month
|
R500 — R8,000
|
from 1 to 180 days
|
Company Reg. no.: 2025/213906/07, Credit provider Reg. no.: NCRCP22362
|
|
|
APR up to 60%
|
R500 — R4,000
|
from 1 to 6 months
|
Company Reg. no.: 2025/543233/07, Credit provider Reg. no.: NCRCP22496
|
|
|
APR from 3.65% to 58.4%
|
R500 — R8,000
|
from 1 to 6 months
|
Company Reg no.: 2023/140135/07, Credit provider Reg no.: NCRCP20790
|
|
