“Choose your Break”

Choose Your Break is a feature exclusive to African Bank existing customers. This feature allows for an agreed upon break from loan repayments if needed , for when life throws an unexpected curveball your way. African Bank is an authorized financial services and credit provider, Reg No. 2014/176899/06 (NCRCP7638).

BENEFITS

Loan amount of R20 000 borrowed over a 12 month period with an interest rate of 15%.

Approx.interest rate 15%

Loan Amount R20 000
Loan Term 12 months
Once off initiation fee (capitalized) R 1197
Monthly admin fee R69.00
Monthly installment payable R 2 036

Total Amount Payable R24 432

(Loan terms are dependent on your individual profile, with a maximum of 72 months. Interest rates are approximated in this example and are influenced by your loan terms. All prices include VAT. Representative insurance rate 5.4%.)