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Direct Axis Loans: All the Information You Need Before Applying!

Have you been thinking of taking out a loan from Direct Axis bank? If so, you will make the best decision when it comes to your finances. Direct Axis bank is a registered credit provider so you can rest assured that you will get the best loan plans and offers. 

Direct Axis bank is also a business unit of FirstRand Bank Limited, so it is registered under National Credit Act. This allows you to get the finest personal loan and consolidation plans from Direct Axis. In this article, we will learn about Direct Axis personal loans in detail. 

Direct Axis Personal loans

When you are getting personal loans from Direct Axis, you can get a minimum loan amount of R1, 000 and a maximum loan amount of R250, 000. The loan term offered by the bank for a personal loan is between 24 months to 6 years. When it comes to interest rates, the bank provides as low as 15%. Remember that the maximum interest on loans in South Africa is around 24.75%. 

Apart from this, you also need to pay an annual percentage rate on Direct Axis loans. If you take out a personal loan of R50, 000 for a loan term of 72 months, you need to pay an annual percentage rate of 15% that will bring your monthly repayment amount to R555. 

Direct Axis personal loans: How do they work?

As mentioned above, you can take a loan amount between R1, 000 and R250, 000 with a loan term between 24 months and 6 years. You can either apply for loan online or visit the nearest branch of the bank. Once you have submitted your application, you need to wait for a few days. The bank will review your application to determine whether you are eligible for the loan or not. 

Also, the bank believes in responsible lending so it will provide you a loan amount that you can afford. Once your application is approved, you will get the loan amount in your bank account in just a few hours. Direct Axis personal loans can be used for different purposes. Whether you want to cover your existing finances, pay for your holiday or wedding, or any other expense you might want to cover, you can use the money from personal loans. This is the reason why personal loans are a favourite for many people in the country. 

Direct Axis personal loans: What are the benefits?

  • With Direct Axis personal loans, you can apply online right from the comfort of your home. You don’t have to go anywhere else to make an application. With just a few clicks, you can apply for a personal loan online.
  • Direct Axis provides fixed interest rates on personal loans. This allows you to have a fixed monthly repayment amount. This ensures that you can manage your budget effectively. 
  • When you want the loan fast, you can trust Direct Axis. The bank is fast and will deposit the loan amount in your bank account in 48 hours if everything in your application checks out. 
  • And you can use the money for any purpose you want. 

Direct Axis debt consolidation loans

The bank also provides debt consolidation loans for a minimum amount of R1, 000 and a maximum amount of R250, 000. The loan term offered is between 24 months and 6 years. The bank provides an interest rate as low as 15%. The maximum interest rate in South Africa is 24.75%. You also need to pay an annual percentage rate that includes interest rates, initiation fees, and admin charges. 

Direct Axis debt consolidation loans: How do they work?

If you have multiple loan accounts that demand you to pay several monthly repayments, you will understand how difficult it can get to maintain the accounts consistently. Also, you can default on repaying any loan. So, the best way is to consolidate all these smaller loans in one account. 

Direct Axis debt consolidation loan will allow you to repay all your existing loans. The bank will take care of the admin and ensure that you are left with one loan account that has fixed interest rates and longer repayment terms. This will ensure that you just have one loan account to manage, making it easier to manage your finances. 

Direct Axis debt consolidation loans: What are the benefits?

  • With debt consolidation loans, all your loan gathers at one account that has fixed monthly repayment. 
  • Since you are paying less, your monthly repayment will become more affordable. 
  • All the admin work will be handled by the Direct Axis bank. 
  • With debt consolidation, you will be able to qualify for more credit easily. 

Direct Axis personal loans: What are the requirements?

When you want to get loan online, you need to provide the following documentation:

  • You must have a monthly income of R5, 000. 
  • You must have a good credit record
  • Provide a valid South African ID issued by the government 
  • You need to have a South African bank account to get the loan money. 
  • Provide proof of residence that is no older than 3 months. 
  • If you are getting a debt consolidation loan from Direct Axis, you also need to provide bank statements for the past 3 months. You can also provide payslips. 

Direct AxisLoans: How to apply?

If you want to apply for Direct Axis loans, you can visit our website Snappy Loan. You can search and review the loan offer that you want to apply for. You can click on ‘Snap It!’ which will take you to the website of Direct Axis bank. 

You can fill the application form and provide the required documents and wait for the approval. Once approved, you will get the loan amount in your bank account in 48 hours. 

Make sure to use the loan calculator to calculate your monthly repayment amount for a loan amount and term you intend to apply for. This will ensure that you take out a loan that you can afford. 

Also, Direct Axis provides a Personal Protection Plan that will cover you in the event of disability, illness, or death. 

Direct Axis: Why are the good choice?

Taking out a loan from Direct Axis will be the best choice because the personal and debt consolidation loans offered are unsecured. So, you don’t have to put a personal asset as collateral. Also, the bank has excellent customer service. And lastly, the bank is regulated under the National Credit Act No. 34 of 2005. 

If you want to know more about Direct Axis bank loans, visit our website Snappy Loan now.