You need salary account details and regular monthly income of at least R5 000. Prove it with up to three months’ recent bank-generated PDF statements or payslips.
Beyond your income: the insurance rules behind your monthly commitment
Your loan interest stays fixed. Insurance premiums may be reviewed yearly. If cover becomes unviable at that price, changes apply to everyone, with 31 days’ notice.
Your work when the plan starts matters. For self-employed or informal workers, cover excludes unemployment, inability to earn and occupational disability.
What your quote means for the monthly cost
Credit life insurance is compulsory. Your quote sets the premium. DirectAxis collects it monthly from your loan account to pay FirstRand Life, the insurer.
Your lender is FirstRand Bank Limited, through its DirectAxis unit. The calculator shows a service fee of R69 a month. R69 times 12 is R828 a year.
What you need for your DirectAxis application
Have your credit, income and supporting documents ready.
- You need good credit and a regular monthly income.
- Provide your salary account’s bank details.
- Bring a clear South African ID copy and recent home address proof.
- You need recent bank PDF statements or payslips.
Make your application online or by phone
- Complete your application and upload documents.
- Or apply by phone with a consultant’s help.
Your questions answered
Can I repay my DirectAxis Personal Loan early without a penalty?
Yes. You can settle your personal loan before its term ends without a penalty. Paying it off early can save interest.
Can I cancel by phone or in writing with suitable replacement credit life cover?
Call or write with suitable replacement cover. In the first 90 days, no claim means a full refund; later, give 31 days’ notice without refund.
How long does DirectAxis take to assess my application?
Your application assessment is expected to take 24 to 48 hours once you have submitted all your information correctly.
How soon could I receive the money after approval?
If approved and all documents are submitted, funds could arrive within 24 hours. Approval depends on credit and income checks.