Apply for loans from one of the leading financial service companies in Africa. Get Sanlam personal loans using the guide provided below.
In this review, you will see some of the perks of using the Sanlam loan company. Also, you will see the eligibility requirements to qualify for consolidation or personal loans.
About Sanlam Loans
Sanlam is a diversified financial services corporation with its headquarters in South Africa. It has a significant presence in over 30 African nations, as well as in India, Malaysia, and a few other industrialized markets.
Sanlam aims at preserving and growing its customers’ wealth. They are a purpose-driven organization, and its goal is to support customers in living confidently. They have extensive product and financial advising offerings, inclusive culture, and a partnership strategy to promote financial inclusion, transformation, and empowerment.
On Sanlam, you can get the following:
- Personal loans
- Debt consolidation loans
- Business loans, etc.
Is Sanlam Legit?
Sanlam Life Insurance Limited is a licensed life insurer, authorized financial services provider, and registered credit provider in South Africa.
Furthermore, every Sanlam Loan comes with our Personal Protection Plan, which pays off the remaining balance of your loan should you pass away, become permanently disabled, or contract a few terrifying diseases. Additionally, it offers only limited coverage in the event of temporary incapacity, and should you be laid off, you will receive a one-time payment that is equivalent to six installments. Of course, you are able to replace the plan with a different policy as long as the coverage is equivalent.
How Do I Get Loans on Sanlam?
Sanlam offers loans to customers in easy application processes. You do not need to go through tiresome processes to apply for a loan. There is no paperwork involved. All you need to do is to visit the website, choose the loan amount you need, and how to repay. Sanlam will always take into account your present financial situation and never offer you more money than you can afford to repay quickly.
How Much Can I Borrow on Sanlam Personal Loans?
Sanlam loans offers loans from R5 000 to R300 000. Although, not all borrowers can borrow up to the maximum amount. Sanlam always checks your financial health and determines the loan amount you are eligible for.
Loan amount: R5 000 to R300 000
Loan term: 24 months to 76 months
Interest rate: 15% – 27.25%
Service fee: R69
Who is Eligible for Sanlam Loans?
Before you apply for loans on Sanlam.co.za, you need to check to see if you meet the requirements for the loan application. Below are the eligibility requirements:
- The applicant must work and reside in South Africa.
- Applicants must apply online with their email address, phone number, and ID number.
What Documents Do I Need to Provide?
- A copy of your green barcoded ID book or Smart ID card
- Your last 3 months’ consecutive payslips or bank statements
- Your bank account details (the account into which you receive your salary)
Sanlam Loans for Blacklisted
If you are on a credit bureau’s blacklist, it indicates that you have a bad credit history for being the target of a debt review, having a judgment against you, or being labeled as a slow payer. This suggests that financial organizations will not allow you to get a loan. Sanlam enables individuals who are on blacklists to apply for personal loans.
How to Apply for a Loan on Sanlam
- Visit the Sanlam Loan website.
- Click on Apply Online.
- Enter your details (name, phone number, ID number, email address, monthly income amount)
- Click on Apply.
How to Repay Your Loan
Loan repayments on Sanlam are easy. Using a debit order, Sanlam will receive your loan repayment every month. Hence, you must enter the bank account into which you receive your salary.
Sanlam Loan Contact Details
Sanlam office address is at 2 Strand Road, Bellville
contact number, Whatsapp: 0860 726 526
Working hours: 08:00 to 16:00, Monday to Thursday
09:00 to 16:00 on Friday