You’ll find it easier to manage payments and will save on monthly service fees and debit order costs.
Interest rates are fixed making it easier to budget too.
As a Category A Consumer, you’ll be covered (either to settle your outstanding obligation in terms of your credit agreement/facility or pay installments towards your credit agreement) in the event of death, permanent disability, temporary disability, retrenchment, unpaid leave or short time.
Representative example: All prices include VAT, R20 000 borrowed for 12 months.
But there are misconceptions about using a loan for debt consolidation, including how much it costs and how long it takes.
Here are common myths about debt consolidation loans and tips on how they really work.
How will account consolidation improve my cash flow?
Paid back over a longer term than your current loans, retail and credit accounts, a Consolidation Loan could have a lower monthly repayment – giving you access to more money each month.
By consolidating and taking a loan over a longer term you could improve your cash flow.We’ll take your personal financial profile into consideration when you apply.If your loan is approved, it’ll be for an amount that you can comfortably afford.If you’d like to streamline your finances, a Consolidation Loan may just be the perfect financial fit for you.It is designed to simplify your finances, instead of several creditors to manage you’ll have just one.