Sanlam offers a highly flexible personal loan with the option to borrow between R5,000 and R350,000. The loan term can range from 12 months to 84 months, allowing you to customise your repayments according to your financial situation.

Interest rates for the Sanlam loan are fixed and based on your credit profile, currently quoted between 16% and 28% APR. On top of that, borrowers can earn up to 10% of their loan amount in Wealth Bonus rewards, adding unique value.

One of the appealing features is the fixed interest rate, providing certainty with your monthly repayments. The loan is unsecured, so you won’t need to use your assets as collateral.

Step-by-Step Application Guide

• Choose your loan amount – from R5,000 to R350,000 in R1,000 increments
• Select your preferred repayment term – from 12 to 84 months
• Calculate the estimated monthly repayments
• Submit your application online & upload necessary documentation
• If approved, receive your funds in your bank account within 24 hours

What’s Excellent

Sanlam’s personal loan is noteworthy for offering one of the longest repayment terms available in the market. The maximum loan amount of R350,000 stands out, catering well to various needs.

You can also earn rewards, known as Wealth Bonus, at no added cost. These rewards make this product more enticing than many other personal loans, especially for loyal clients.

A Few Drawbacks

While the maximum interest rate is competitive for unsecured loans, your rate depends on your individual risk profile, which may mean you do not always get the advertised best rate.

The loan includes an initiation fee and a small monthly admin fee, which can add to the overall cost over long repayment periods. It’s vital to consider the full repayment example in the quote.

우리의 평결

Sanlam Personal Loans are well-suited to those seeking large loan amounts with the option of extended repayment periods. The fixed rate and loyalty rewards add generous value.

Applicants who want fast payouts and a reputable lender will appreciate the streamlined process. Nevertheless, always ensure you check your total costs before committing, as with any credit agreement.