DirectAxis loans are provided by DirectAxis SA (Pty) Ltd which is a business unit of FirstRand Bank Limited, an Authorised Financial Services and Registered Credit Provider.
They are one of the largest and most successful direct marketing financial services provider on the continent.
DirectAxis, offers a wide range of products. From personal lending and insurance to financial wellness tools, to offer you the best quality of service.
In this article we are going to look at their lending products and the financial wellness tool known as the DirectAxis Pulse.
Loan Summary
Amount: R5 000 up to R300 000
Loan Types: Personal Loan and Debt Consolidation Loan
Repayment Terms: Minimum of 24 months to a maximum of 72 months.
Interest Rates & Fees:
The maximum interest rate with regards to a DirectAxis Personal Loan is 29.25% per annum (compounded monthly).
Your rate and initiation fee will be determined according to your personal risk profile.
Illustrative Example:
R50 000 loan at an interest rate of 29.25% per annum plus a once-off initiation fee of R1 207.50 (added to the loan amount in this example) and a monthly admin fee of R69.00, over 72 months would have a total cost of R 111 760.74.
DirectAxis Loans & Lending Products
1. DirectAxis Personal Loans
A DirectAxis personal loan is paid directly into your bank account and the money can be used for any needs you may have.
Whether you’re looking to do home renovations, upgrade your electronics or take a break overseas, a personal loan offers a flexible solution.
2. DirectAxis Consolidation Loans
A Consolidation Loan is designed to simplify your finances. So instead of having several lending and credit accounts to manage, you will have just one.
The type of accounts you can consolidate include a range of loans (excluding home loans), credit cards, and retail accounts.
DirectAxis handles all the admin of settling your accounts for you.
Debt consolidation is helpful in tough economic times. It allows you to save on administrative fees and free up cash.
Benefits of A Debt Consolidation Loan:
- You will have the convenience of paying a single, fixed monthly payment; plus, a single service fee, and a credit protection plan.
- The Personal Protection Plan will settle your outstanding loan balance in the event of your death, permanent disability or certain dread diseases.
- Your monthly repayment of the qualifying credit will be lower than what you’re currently paying.
- You may also have the chance to put further monies you may qualify for to good use.
Requirements To Apply For DirectAxis Loans
- A good credit record
- Regular monthly income of at least R5 000
- The details of your bank account into which your salary is paid
- Clear copy of your South African ID
- A recent document confirming your residential address
- Up to 3 months’ recent bank-generated PDF statements or payslips as proof of income
To apply for a loan:
You can do it online via their online form on their website. To access it click here;
You can call the DirectAxis call centre directly on 0861 02 03 04;
Alternatively, you can SMS your name, surname and ID number to 43885 and they will get in touch with you.
Financial Wellness Tool: DirectAxis Pulse
Pulse is a FREE and secure financial wellness tool that allows you to check your credit score rating and learn how to improve it.
The DirectAxis Pulse offers you an opportunity to compare your credit rating to other South Africans.
This brilliant tool will help you see how you can maintain or improve your rating.
Is your credit score rating important? The short answer is yes. This is because your credit score rating is a great indication of the health of your financial life.
Credit providers use your credit rating as one of the main criteria in deciding whether to lend you money. The better your credit rating the better your chances of getting credit.
How can you make use of the DirectAxis Pulse? Simply visit their website and register your account and get a detailed breakdown of your credit rating 100% free.
Is DirectAxis A Good Choice?
When you take out a loan with DirectAxis you’ll deal with an authorised Financial Services Provider, with many years of financial services experience in South Africa.
To apply for a loan is quick and you can also use your loan for anything you want.
DirectAxis offers loans are regulated by the National Credit Act No. 34 of 2005, which is good enough to set your mind at ease.
For DirectAxis personal and debt consolidation loans, there is no need for collateral. These are unsecured loans, and you won’t have to offer your car or house or any other asset as security.
Your loan will include a Personal Protection Plan, which settles your outstanding balance in the event of your death or permanent disability.
DirectAxis Contact Details
Website: www.directaxis.co.za
Call Centre: 086 102 0304
Customer Care: 021 764 3404
Debt Consolidation: 086 124 3556
Head Office
DirectAxis SA (Pty) Ltd
108 De Waal Road
Diep River, 7800