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Products and benefits > Personal loan > Overview
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A personal loan is ideal for paying for those larger purchases such as an entertainment centre. You could even use the loan to improve your career opportunities by doing courses.
What makes a personal loan great?
- You can use your personal loan for absolutely anything.
- Once the loan is approved, the money is transferred into your Achiever current account and is available immediately.
- The repayments are fixed and do not change, even if the interest rate changes. This means you know exactly how much you have to repay each month.
- If you are approved for a revolving personal loan, you can reuse the funds after you've repaid 15%. This means you do not have to apply for another loan the next time a not-to-be-missed opportunity arises.
How does it work?
Within the first month after the loan has been approved and the money paid into your Achiever current account, your first repayment will be deducted from your current account using a debit order. This will happen on the date you selected when taking up the loan. Each month the same amount will be deducted from your account until the loan is paid in full.
Should you have a revolving personal loan and want to use some of the money you have repaid, you simply transfer it from your loan account to your Achiever current account using Internet banking or any of our other electronic banking channel.
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