AFRICAN BANK CONSOLIDATION LOANS
African Bank consolidation loans entails taking out one new loan to pay off many others. Usually the consolidator will obtain settlement quotes from your creditors and will settle these debts for you.
Many people use this option because they prefer to have one loan to repay instead of many.
• Very selective offering – low offer rate of 25%
• Defensive product – effective in defending low risk customers against competitive poaching, but losing higher risk customers to larger loan offers from competitors
• As with all African Bank products total exposure is capped – both in terms of percentage of monthly salesand of total capital
• Useful tool to ease affordability for customers
• Profitable product supplementing our overall product offering
Benefits For the customer
• Increased affordability
• One convenient payment, with lower bank charges
• Additional cash
• Lower pricing, provided customers aren’t over extended
