Personal loans and debt consolidation

Personal loansWhat are you dreaming of today? An overseas holiday or a home makeover? Or perhaps you want to consolidate all your debt into one loan? Whatever you wish for, apply below for a personal loan through 1Life and make dreams come true!

Why a 1Life Personal Loan?

  • You can qualify with a regular income of just R5 000
  • Apply online for quick approval
  • You choose your repayment term – from 12 to 60 months
  • Competitive interest rates
  • Fixed monthly repayments


Apply now

Do you qualify?If you have a regular income of R5 000 and clear credit references, you could qualify for a personal loan through 1Life of between R5 000 and R150 000.

Our promise to youThere are cash loans and then there are cash loans brought to you by 1Life. We promise you:

  • Competitive interest rates
  • Fixed repayments for the entire term of your loan
  • No hidden fees
  • No meetings and no unnecessary paperwork

Apply nowYou will need the following to apply:

  • Clear credit references
  • A regular monthly income of at least R5 000 (proof of income will be required)
  • Your ID number
  • Details of the bank account into which your salary is paid

*Loan repayment terms range from 12 to 60 months. The maximum interest rate with regards to a 1Life Personal Loan is 28% per annum (compounded monthly). Your rate and initiation fee will be determined according to your personal risk profile. An illustrative example of a loan at an interest rate of 28% per annum would be: Loan amount R50,000 plus a once-off initiation fee of R1,197 and a monthly admin fee of R68.40, over 60 months. The total cost of the loan will be R99,747.64 which is an Annual Percentage Rate (APR) of 31.45%.

Click the Apply now for quick decision personal loans! 

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*1Life Personal Loans are managed and administered by Direct Axis SA (Pty) Ltd, an Authorised Financial Services Provider and Credit Provider. 1Life Personal Loans are compliant with the National Credit Act, which means your loan will be subjected to credit approval and you’ll never be approved for a loan that’s greater than what you can repay.

We understand the importance of protecting yourself and your loved ones against unexpected events. Every personal loan brought to you by 1Life includes a Personal Protection Plan that will settle any outstanding loan balance in the event of your death, permanent disability or certain dread diseases – and it will also provide you with some cover for temporary disability and retrenchment.

If you already have a plan or would prefer another, you can substitute our plan with a policy of your choice, as long as the cover offered is equivalent. 

You can refer to our Personal Loans FAQs to answer any other questions you may have.

Apply now and get a personal loan through 1Life today!

Apply now

What is debt consolidation?Debt consolidation is the process through which one loan is used to settle a variety of other debts, such as store or credit cards. Grouping these into a single longer term loan means your monthly payment will be smaller, freeing up cash for other expenses. You may benefit from a lower interest rate and as different lenders may apply monthly charges or annual card fees, by making sure you only have one loan with one company and one admin fee, you'll cut back on all those extra costs as well.

Fewer paymentsWorking with a single service provider also means there will be fewer bills for you to handle and fewer payments to be made come month end.

So can debt consolidation work for you? The best starting point is to identify all of your current debt repayments and loans. Make a list of the companies you deal with and then contact them to ask what interest rates they're charging you (it also makes a difference if interest is calculated daily or monthly). Find out whether they are charging you an admin fee, and look at the charges your bank levies for each debit order that goes to your lenders.

The final step is to establish the outstanding capital sum you owe to each of the financial institutions you have borrowed from.Once you have all these figures on hand you'll be able to calculate the total value of the interest payments you're making each month as well as add up the cost of multiple monthly admin charges.

Fast applicationYou can now approach 1Life to apply for a consolidation loan. As well as giving you a speedy response, we'll offer you a fixed rate of interest for the duration of the loan. If you qualify for your personal loan, we'll deposit the funds directly into your bank account allowing you to settle your other accounts, cut back on your monthly expenses and relieve some of your month end financial admin chores.

 *1Life Personal Loans are managed and administered by Direct Axis SA (Pty) Ltd, an Authorised Financial Services Provider and Credit Provider.

The Truth About MoneyAt 1Life we know that your future is written in how you manage your money. But we also know that South Africans do not always have the money management skills they need to build the future of their dreams. That is why we launched The Truth About Money.

The Truth About Money makes money management services and training available to 1Life policyholders at no charge. These services include the following:

Debt counsellingIf your debt has become unmanageable and you are struggling to make ends meet, The Truth About Money can help! You can register for telephonic debt management and debt counselling services on the Truth About Money website.

Estate mediationBecause we know how important it is to have your affairs in order, we will help you draft a will for yourself and your spouse or set up a trust for minor beneficiaries. You can also apply for legal advice and mediation if you need help winding up the estate of a relative.

Financial education courseFinancial education is the key to your financial freedom. The Truth About Money offers you access to a digital Financial Education course that you can complete at your own pace at any Boston Campus nationwide. Apply today!

Online advice and informationDo you want to learn more about how you can take control of your finances? Visit our website for tools, tips, news and views!

All of these services are available to successful applicants and 1Life policyholders at no charge!

Visit The Truth About Money website to learn more and register.


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