Personal Loans for Debt Consolidation

Personal Loans for Debt Consolidation

They may be many reasons why you need to take in a personal loan, and in some cases you need a personal loan for debt consolidation. You may have unexpected medical expenses, need to pay for home renovations or even choose to take up her consolidation loan in order to settle your outstanding debt. 

All the major banks offer credit products, and their offers will differ based on your credit history, your salary and a few other additional aspect. Some of the basic requirements will be that you are permanently employed, over 18 years of age, and have a clear credit history.


Nedbank offers various loan solutions, and some of the benefits include:

  • They offer a straightforward application process with friendly assistance from trained staff
  • If you qualify, the cash deposit will deposited into your bank account.
  • There are flexible repayment periods of up to 60 months, with payments debited from your bank account.

Standard Bank

Standard Bank offers a personal loan that you can use to cover your debt, and then only repay your loan with Standard Bank. This loan gives you great interest rates, which is a benefit if you have a lot of debt. Debt repayments usually come with a lot of interest, which is usually why people cannot afford high repayments over a longer period of time.


ABSA offers a personal loan of between R3.000 and R350,000 you can repay this loan over a total of 72 months. If approved your funds will be available immediately and you will receive competitive interest rates with flexible repayment terms. You also have the ability to pay off your loan faster and you will have access to an affordable credit protection plan that will settle outstanding balance. If you die or become permanently disabled.

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