There are numerous credit options available to us and just as many financial institutions to give us that credit. However, today, I am going to be telling you about DirectAxis and unpack a range of their services including their benefits.
Whether it is for debt consolidation, remodelling your home, or emergency expenses, be sure you understand the loan, interest rates, and repayment period to check if it’s worth it.
DirectAxis is a proudly South African company that has been operating for over 20 years. It is a direct-to-customer insurance brokerage with services that include a wide variety of products such as personal lending, funeral cover, and DirectAxis Pulse – a FREE and SECURE financial health platform. It is the largest and most and most successful direct marketer in the financial services sector across the continent.
DirectAxis promotes responsible borrowing and lending, and they are compliant with the National Credit Act. They are a part of the FirstRand Group, and the institution believes in providing a positive and meaningful experience to customers across all touchpoints.
Personal Loans
DirectAxis offers personal loans that are straightforward and easy to complete online. What is nice about their personal loans is that the interest rate is fixed for the full term of your loan, which means they never go up – regardless of how much interest rates increase (we’ve seen how they go up overnight). The repayment period ranges from 6 months to up to 6 years and they timeously provide feedback which simply means money could be in your bank account within 48 hours.
How to apply for a DirectAxis personal loan (different options):
- Complete the online application form
- Call the DirectAxis call centre between 8am – 8pm, Monday to Sunday on 087 350 6020
- Send an SMS with your name, surname, and ID number to43885
What you will need to apply for the loan
It goes without saying that for any lender to give you a loan, they need to be sure that you will be able to pay them back.
This you can prove by having a good credit record, which is one of the requirements needed to obtain a loan with DirectAxis. Secondly, you need a regular monthly income of at least R5 000 and you must provide your bank account details where your salary gets paid in.
Identity is just as important when applying for a loan anywhere. DirectAxis needs a clear copy of your South African ID, a recent copy of a document that confirms your residential address, as well as a 3-month bank statement and or payslips as proof of income. All these documents can be uploaded via the institution’s online application portal.
Benefits of a DirectAxis personal loan
You are guaranteed to deal with an authorised financial services provider with extensive experience in financial services. DirectAxis promotes responsible lending, which simply means you will be approved with an amount you can comfortably afford should you take out a loan with them.
Their personal loans are also unsecured, meaning that you do not have to use any of your assets as collateral. What is nice about having a personal loan with DirectAxis is that it comes with a Personal Protection Plan, therefore in an event of death or permanent disability, it will settle your outstanding balance.
Repayment terms
DirectAxis’s repayment terms range from 24 to 72 months with a maximum interest rate of up to 27.25% per annum (compounded monthly) on personal loans. Your rate and initiation fee? This is determined by your personal risk profile.
Remember, for your security and peace of mind, all DirectAxis loans are subject to the National Credit Act of 2005, and the institution administers loans for FirstRand Bank Limited, an authorised Financial Services, and Credit Provider.