An easy-to-use credit solution is provided to you by AA Money, a personal loan comparison service that collects information from a number of banking partners. Loan amounts vary from lender to lender, and fees, interest rates, loan amounts, and credit ratings impact repayment periods.
Lenders demand personal information to manage risk and aid the government in preventing theft, money laundering, and terrorism.
Since its founding over a century ago, the AA has placed the customer first. AA Money continues to prioritize your needs while locating the finest personal loan provider.
More about AA Money loans
AA Money provides you access to the leading banks and lenders in South Africa, ensuring you receive the best price on a personal loan that fits your requirements and budget. AA Money provides a personal lending option that is secure, straightforward, and dependable.
As an independent organization, AA Money does not endorse any particular products or companies. The displayed and delivered information is based on the information supplied by the user of the AA Money website and should not be considered advice or consultation.
Understanding what a personal loan is
A personal loan is a form of loan offered by financial institutions to assist you in meeting your immediate financial obligations. For instance, you may utilize a personal loan to repair your kitchen, install solar panels, or fund a family trip.
A personal loan may also be utilized for medical expenses, debt consolidation, or any other personal purpose. Personal loans must be repaid over a predetermined time period and with consistent monthly installments. The majority of personal loans are unsecured, therefore you will not be required to provide collateral or a deposit.
Personal loans are unsecured, which means you are not required to provide security or collateral to the lender. AA Money offers a variety of personal loan sums ranging from R500 to R350,000.
Typically, borrowers (you) have between one and seven years to repay the loan, with interest rates ranging from 3 to 36%. The greatest statistic for comparing loans is the Annual Percentage Rate, or APR. In addition to interest rates, other costs are considered.
AA Money personal loan considerations
The following are the most crucial considerations while utilizing online loan comparison calculators:
- Loan Amount
- Monthly Repayment
- Loan Term
- Total Interest
- Total Repayment
- Fees; and
- Interest Rate and APR*
When borrowing money, you want to select the option that is most advantageous for your financial circumstances and has the lowest interest rate.
What documentation am I need to get a loan with AA Money personal loan?
The essential papers for every application are copies of the following:
- Latest payslip
- Recent bank statements
- In order to develop your custom loan offer and do a credit check, we require your South African ID number.
Important: None of these papers are required for our purposes. These are for the chosen partner who will finalize the deal.