The advantages of choosing the African Bank consolidated loan include:
- Simplification of outstanding debts into a single monthly payment;
- Lower interest rates;
- Access to loan amounts of up to R350,000.
Why does EYEKUP recommend you this consolidated loan from African Bank?
EYEKUP recommends the African Bank consolidated loan because it allows consumers to merge their existing debts into a single, more manageable loan. When obtaining a loan, interest rates are typically calculated and applied to the entire loan amount.
However, certain situations may result in interest rate corrections or the accumulation of interest in case of default, leading to a significant increase in the total owed amount.
The African Bank consolidated loan offers a solution to this problem. By settling outstanding debts, the loan considers only the contracted amount and a predetermined fee, without factoring in the previously applied interest rates. As a result, the overall payment is significantly reduced.
Furthermore, the new loan applies lower interest rates compared to the initial values, providing relief to your budget by consolidating and paying off all open accounts.