Sanlam Personal Loans
Borrow up to R350,000, fixed rates from 16% to 27.75%, with up to 84 months to repay and earn up to 10% of your loan in Wealth Bonus.
Sanlam Personal Loans are designed for South Africans who need flexible credit options with rewards. You can borrow between R5,000 and R350,000 at fixed interest rates starting from 16% up to 27.75%. Repayment terms are tailored to your needs, ranging from 12 months up to 7 years (84 months). One of the unique aspects is the opportunity to earn up to 10% of your loan amount back in Wealth Bonus® rewards, enhancing the appeal of your borrowing journey.
Easy Application Steps
- Choose your loan amount (from R5,000 to R350,000).
- Select your preferred repayment term (12 to 84 months).
- Submit your ID, recent proof of address, and three months’ bank statements.
- Wait for approval and, if approved, funds are deposited swiftly into your account.
Main Pros
Sanlam offers highly flexible repayment options and large loan amounts, so it’s easier to tailor instalments to your budget. The transparent fixed interest rates lend confidence in long-term financial planning. On top of that, their Wealth Bonus® offers real, tangible rewards.
Main Cons
Interest rates may be higher for people with a lower credit score, so it pays to have a good credit profile. Additionally, the loan is only available to South African citizens with the necessary documentation, and there’s a monthly admin fee, which should be considered.
Verdict
If you value flexibility, want a significant cash amount, and appreciate bonus rewards, Sanlam Personal Loans stand out. Though rates depend on your credit score, the application is straightforward, and the Wealth Bonus® feature sets it apart from standard loan options.
