Debt Consolidation Loans
Combine multiple debts into one manageable monthly payment. Compare consolidation options from South Africa's major banks.
What is Debt Consolidation?
Debt consolidation combines multiple debts (credit cards, store accounts, personal loans) into a single loan with one monthly payment. This can simplify your finances and potentially lower your overall interest rate.
Debt Consolidation Loan
Provided by Standard Bank
Interest Rate
from 12.25%
Max Amount
R300,000
Credit Facility
Provided by Capitec
Interest Rate
Personalized
Max Amount
R250,000
Consolidation Loan
Provided by FNB
Interest Rate
from 13%
Max Amount
R300,000
Debt Consolidation
Provided by Absa
Interest Rate
from 12.5%
Max Amount
R350,000
Personal Loan for Debt
Provided by Nedbank
Interest Rate
from 11.75%
Max Amount
R300,000
Consolidation Solution
Provided by African Bank
Interest Rate
from 15%
Max Amount
R250,000
Benefits of Debt Consolidation
One Monthly Payment
Simplify your finances with a single payment instead of juggling multiple accounts.
Lower Interest Rate
Potentially reduce your overall interest rate compared to credit cards and store accounts.
Fixed End Date
Know exactly when you'll be debt-free with a fixed repayment term.
Important Considerations
- • Consolidation only works if you stop using credit cards and store accounts
- • A longer loan term may mean paying more interest overall
- • Your credit score and income will affect the rate you're offered
- • Consider speaking to a debt counsellor if you're struggling to make payments
Disclaimer:
Interest rates shown are indicative and based on a "clean" credit profile. Your actual rate will depend on your credit score and affordability assessment by the lender. Terms and conditions apply. This is not financial advice - consider consulting a registered financial advisor.