The benefits of consolidating debt

The benefits

• You have one monthly repayment amount instead of several individual ones
• Your total monthly repayment will be less
• You're less likely to miss a payment, helping you maintain a good credit profile and improve your credit score
• Easy management when you use our app to view credit plan details and balances, and to make additional credit repayments
• Personalised credit of up to R250 000 over 84 months
• Affordable credit insurance on loans longer than 6 months

How it works

Suppose that you have 3 different store cards, and you’re paying off a car. Your minimum monthly payments leave you with almost no cash left to actually live.

One way to solve this problem would be to consolidate your debt. You take out one single loan, and use it to pay off all of your other loans, leaving you with one loan amount and payment every month.

Apply for credit in 3 easy ways

• Get an online credit estimate
• Call us on 0860 66 77 89
• Visit your nearest branch

Things to remember

• Your consolidation loan may have a longer term. That means you could end up paying more interest in the long run
• If you consolidate short-term debt such as clothing accounts, it could take longer to pay off
• Consolidation makes more money available. Avoid using this extra money as an excuse to take more credit, placing you in the same situation as before

Tip: Before you consolidate your debt, don’t just think about how much and for how long you’ll be paying. Look at all the costs involved when you take credit.