The African Bank Consolidation Loan offers a convenient way to manage your debt by merging up to five separate loans into one. You can borrow up to R500,000 with flexible repayment terms from 18 to 72 months. The loan comes with a fixed interest rate, reducing the risk of fluctuating monthly payments.

Loan applicants are rewarded with 1.3% cashback in Audacious Rewards points on instalments, adding value beyond just financial relief. There’s no requirement for complex settlement quotes—just proof that your previous loans are settled is sufficient.

With the African Bank’s user-friendly app and online platform, you can apply 24/7 without using any of your mobile data. Applications can also be completed in branch or by calling the service centre.

How to Apply for the African Bank Consolidation Loan

• Download the African Bank App or visit their website
• Register or log in to Online Banking
• Complete the application—no settlement quotes needed
• Supply proof of settled loans
• Submit and await approval, then manage repayments effortlessly

Pros of the African Bank Consolidation Loan

Combining up to five loans in one helps you manage your monthly budget effectively, potentially lowering your overall repayment amount.

Flexible repayment terms up to 72 months and no need for tedious paperwork make the process accessible and streamlined for busy South Africans.

Cons of the Loan Offer

You need to provide evidence that your existing loans are settled, which can take time depending on the lenders involved.

The maximum value combined cannot exceed R500,000, which may be limiting for clients with larger total debts or high outstanding balances.

Final Verdict

The African Bank Consolidation Loan is a practical and simple solution for those seeking to take control of multiple debts. With fixed rates, easy application, and cashback rewards, it suits many South Africans seeking financial relief. However, ensure you meet the requirements before starting your application.