How does Consolidation Loan work? Requirements and Contact Information.
Do you feel suffocated by your debts? You try to cancel them but dealing with so many lenders makes you feel stressed and confused. If you feel like you will never finish paying the huge amount of liabilities, stop worrying because I have the answer for you. You can take a consolidation loan and simplify your payments. You’ll find in this article what you needto apply, requirements and I’ll give you contact information from banks you can work with. Also, you’ll find a chart with specific information about one of the companies.
I’ll explain first what I mean by a Consolidation Loan so then, we can start discussing which banks can you apply for. I refer to a type of loan in which the client simply takes one loan to pay off many other loans. Consolidating your debts has many benefits but, the two most significant are that on one hand you get rid of the many lenders and stay with only one, and on the other hand you can acquire a lower interest rate as you leave behind all the interest you had before. This loan is of great use to obtain economic stability and be able to stand on your feet again.
One bank that offers consolidation loans is African Bank. Now, I’ll detail its requirements, benefits and I’ll provide you with some contact information.
African Bank Requirements
In order to ask African Bank a loan, you first need to be sure you possess some important documents. You need to present your I.D., the last payslip you’ve received, your latest bank statements that reflects your last three salaries and a proof of residency. As it is shown, requirements are few and simple, so you’ll be sure not to have any problem with that. Once you collect those documents you can contact African Bank to apply for the loan and they’ll guide you through the proceeding.
What are the benefits?
If you are still wondering if a debt consolidation loan is right for you I can list some reasons for you. An African Bank debt consolidation loan:
- reduces the number of lenders.
- saves time previously wasted on administration debts.
- saves money on interest rates.
- offers repayment terms from 18 up to 72 months.
- diminishes instalments.
- allows you to combine up to five accounts.
- provides a minimum loan of R 2,500 and a top loan of R 200,000.
African Bank has many branches around South Africa. Now I’ll mention some of them, but remember you’ll probably find one near your home as they have plenty of branches around the country.
In Durban you can find several branches at, for instance, 375 Anton Lemede Street. Its phone number is (031) 305 4209. Another branch is located at 622 South Coast Road and the phone is (031) 465 3049.
If you live in Kimberley there’s a branch at Old Main Road, Market Square and you can call the number (053) 830 4300 or you can direct to Newpark Shopping Center at 1 17 Long Street. And the phone number is (053) 831 1363/73.
But if you reside in Rustenburg you’ll see an African Bank branch in Midtown Mall and you can contact them at (014) 597 0160, or at Bhayat & Thabo Mbeki Drive, Rustenburg Plaza.
All the branches of African Bank has the same opening hours. From Monday to Friday they open at 8:30 and close at 17:00 and, on Saturdays they open at 9:00 and close at 13:00. Keep in mind they don’t work on Sundays and holidays.
You can also consider Izwe Loans. They also offer consolidation loans. Next, you’ll find application, quotes, rates and contact details for you to be fully informed about this entity.
How to apply?
Applying for an Izwe Loan is simply, you should complete an application form through their website. The information you’ll be asked goes from personal information like your full name, I.D., cell phone number or email address to employment details like your gross monthly payment, your net monthly payment or for how long you’ve been employed. After sending the form, their representatives will get in contact with you to go on with the procedure.
When you apply for a loan Izwe Loans assume you agree to be under credit check and that you aren’t under debt counselling.
R 6,000 to R 99,000
27 (010) 206 7400
Osborn Road, Houghton Estate. 2198
Latest three pay slip
Find the best loan of South Africa
How does Izwe Loans work?
Izwe Loans has many benefits for you. For example, you’ll be paid directly to your account guaranteeing you’ll have the cash available without delay. You’ll also enjoy fixed monthly repayment terms and fixed rates. And you’ll also benefit from two great advantages. One of them is that Izwe only needs few documents to provide you with the loan and the other is that you can experience this benefits sitting in your favorite sofa in your house. There’s no need for you to take the trouble of approaching its branches, unless you prefer having a face to face conversation.
Remember Izew Loans offers quotations from R 6,000 up to R 99,000 and you’ll have a fixed interest rate that will depend on the amount and terms of your loan.
How can I contact Izwe Loans?
If you are thinking you would like to work with Izwe Loans you can get in contact with them using these means:
You can call them at the number 27 (010) 206 7400, or you can write them an email to firstname.lastname@example.org. If you prefer asking in person you can go to Osborn Road, Houghton Estate. 2198 in South Africa. This last option would be, of course, for those living in the area, but don’t’ worry if you don’t because as I told you before you can go through the entire procedure online with no alteration on the process and terms of the contract.
Questions and answers
Can I apply with African Bank over the phone?
Yes, you call them and they’ll guide you.
Can I apply if I’m less than 18?
No, you should be 18 or more.
Can I consolidate only 3 of 5 debts I have?
Changing all my debts into one simple loan was the best decision!
African Bank approve my loan really fast
Izwe application is simple and fast