While getting access to debt can be ideal for financial emergencies, the trick is to know how to service your debt well by repaying on time without fail. If you have more than one creditor to keep track of you need to be fairly disciplined in order to keep up with all repayments.
As soon as you find yourself struggling to keep up, it may be a good idea to consider getting help.
One of the most convenient ways of getting debt management help is through debt consolidation.
Debt consolidation is essentially a process of debt displacement that allows you to make a single payment that will cover multiple creditors.
African Bank is one of the major banks in South Africa and strives to provide “credit that works for you”.
As part of its service suite, African Bank offers a debt consolidation loan designed to simplify the lives of its clients.
Tell me more about the African Bank debt consolidation loan?
The loan facilitates simple payments to multiple creditors by helping you keep track of a single payment.
You get 18 to 60 months to consolidate your debt, allowing you to save in the process.
An African Bank debt consolidation loan can help you to free up cash flow, by consolidating up to five accounts.
What you need to apply for an African bank debt consolidation loan:
- Be at least 18 years old
- Have a valid South African ID
- Provide your latest original payslip
- Provide 1 months’ bank statement
- Provide proof of residence
To give you and your family peace of mind, credit life insurance is included, so your loan is paid up in the event of your temporary or permanent disability, critical illness, retrenchment or death.
Contact African Bank by calling: 0861 000 351