African Bank

African Bank offers personalised fixed interest rates. The rate you receive is determined by your credit score, income, and existing debt. Rates start from approximately 15% per annum and are capped at 27.5% per annum under the National Credit Act. Your exact rate is disclosed in your pre-agreement quote before you sign.

African Bank is required by the National Credit Act to carry out a credit check and affordability assessment on every applicant. Applicants with severe adverse listings (judgments, sequestration) are unlikely to be approved. However, African Bank assesses applications individually, and applicants with impaired credit histories may still qualify depending on the severity of the listing and their current income.

Most online applications receive a credit decision within a few hours. After you electronically sign the loan agreement, funds are typically disbursed within 24–48 business hours via EFT to your bank account.

You will need: your South African ID (smart card or green barcoded ID), your 3 most recent bank statements, your most recent payslip (if employed), and proof of residence not older than 3 months. Pensioners should provide their SASSA or pension fund payment confirmation.

Yes. You can settle your African Bank personal loan early at any time with no penalty. Contact African Bank on 0861 111 011 or use the online portal/app to request a settlement quote. The NCA prohibits lenders from charging early settlement penalties.

A missed payment will be reported to South African credit bureaus after 30 days, negatively affecting your credit score. If the account remains unpaid, it may be handed to a collections department and ultimately result in legal action. Contact African Bank immediately if you are struggling — they may offer a payment arrangement, and you have the right to approach a registered debt counsellor.

Yes. African Bank Limited holds a full banking licence from the South African Reserve Bank (SARB) and is registered with the National Credit Regulator (NCR) under registration number NCRCP7. You can verify this at [https://www.ncr.org.za](https://www.ncr.org.za).

Yes. Pensioners with a regular, verifiable pension income may apply. You will need to provide your pension payment slip or SASSA grant confirmation as proof of income.

Call the customer care line on 0861 111 011 (Mon–Fri 08:00–17:00, Sat 08:00–13:00), WhatsApp 0600 033 111, or email customercare@africanbank.co.za. For fraud emergencies, call the 24/7 fraud hotline: 0800 111 222.