Anúncios
Sanlam Personal Loan
Borrow from R5,000 to R350,000 at a fixed interest rate—with flexible repayment of up to 84 months and earn up to 10% in Wealth Bonus rewards.
Sanlam’s Personal Loan offers South Africans an opportunity to access funds ranging from R5,000 up to R350,000. Applicants can select repayment periods that suit their budgets—from 12 to 84 months. Notably, the fixed interest rates start from 16% and can reach a maximum APR of 27.29%, making budgeting predictable.
Adding more value, approved borrowers can earn up to 10% of their loan amount back through the Wealth Bonus® rewards programme. The application process is simple and documents required include your SA ID, proof of address, and recent payslips or bank statements. Loan approval and payout may be finalised within 24 hours, depending on document submission.
How to Apply: Step-by-Step
- Choose a loan amount from R5,000 to R350,000.
- Pick a repayment term between 12 and 84 months.
- Submit ID, address, and income proof.
- Sanlam assesses affordability and your credit profile.
- Once approved, funds are disbursed to your account.
Pros of Sanlam Personal Loan
Sanlam’s loans stand out for their flexibility. Borrowers can tailor the repayment schedule to suit their life stages and financial situations, which makes financial commitments easier to manage.
Another appealing feature is the Wealth Bonus® rewards scheme. Earning up to 10% back adds a real incentive for keeping up with your repayments and makes this offer unique among lenders.
Cons of Sanlam Personal Loan
One downside is that interest rates can be high for those with lower credit scores, possibly peaking at 27.29%. Therefore, this isn’t the most affordable option for everyone.
Additionally, the fees—such as a monthly admin fee and initiation charges—can make borrowing more expensive over the long term, so it’s important to calculate your full cost before applying.
Our Verdict
Sanlam’s Personal Loan is a strong contender for those seeking large sums with customisable repayment terms. The Wealth Bonus® incentive makes it attractive, but high interest rates for some borrowers could be a drawback. Review all fees and terms before proceeding to ensure this option aligns with your financial goals.
