DirectAxis
Apply for a personal loan of up to R350,000 with fixed repayments and quick feedback. Flexible terms from 24 to 72 months. No collateral required.
DirectAxis offers a personal loan solution for South Africans requiring access to funds for a range of needs. Loans can range from R5,000 up to a substantial R350,000, with flexible repayment terms from 24 to 72 months. Notably, repayments remain fixed at the current interest rate for the full term, providing valuable predictability even if market rates fluctuate.
Applicants must have a good credit record, a minimum monthly income of R5,000, and be able to provide bank statements and proof of address. The application process is designed to be straightforward, with a simple online form where you can upload all required documents, or by calling their call centre.
How to Apply
- Check you meet the minimum criteria (income, credit record, documents).
- Complete the online application or call the DirectAxis call centre.
- Submit your SA ID, proof of address, and up to three months’ bank statements or payslips.
- Wait for fast feedback, usually within 48 hours.
Pros of DirectAxis Personal Loan
The loan application process is exceptionally user-friendly and can be completed fully online. There is also quick turnaround, with funds often released within two days upon approval.
Another strong advantage is fixed repayments at your initial rate, which shields you from potential rate increases down the line, enabling easier financial planning.
Cons to Consider
Applicants are required to provide extensive supporting documentation, which may not suit everyone. Additionally, approval is based strictly on credit assessment, so those with poor histories may not qualify.
Another downside is the illustrative maximum interest rate of 28% per annum (compounded monthly), which can make borrowing expensive for higher-risk profiles.
Our Verdict
DirectAxis stands out for its transparent terms, accommodating loan sizes, and fixed repayment structure. Quick approval and no collateral requirements make it an accessible choice for qualifying applicants. However, the upper interest rate may be steep for some, and strict credit checks apply. Overall, for those who meet the criteria and value fixed repayments, DirectAxis offers a strong, reputable personal loan option well-suited to a variety of personal financial goals.
