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Sanlam – Personal loans

Updated

  • Low-interest starting from 18.55%
  • Personal loans up to R200,000
  • Repayment up to 6 years

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Sanlam homepage

Author Sanlam. Screenshot of Sanlam website. [Accessed November 24, 2020]

About Sanlam

In 1954 Sanlam broke away from Santam to become an independent mutual assurance company.

At that time, they were focused on providing life insurance to South Africans.

Since then, they have continued to change and grow. Sanlam is an accredited financial services provider.

Flexible personal loans from R5,000

Personal loans are long-term loans that allow you to borrow large sums of money.

Sanlam offers you between R5,000 and R200,000.

You get to choose a repayment term of between 2 and 6 years.

This flexibility is what makes personal loans so attractive. Pay smaller monthly instalments by choosing a longer loan term.

Fixed interest rates that help you budget

Sanlam offers you a fixed interest rate. The interest you pay every month will stay the same until your loan term ends.

Depending on your risk profile you can expect to pay an interest rate of between 18.55% and 24.50% per year. That amount is then broken down into your monthly instalments.

Additional fees and offers

The other fees you'll be charged are the monthly service fee of R69 per month and an initiation fee.

The initiation fee is a once-off fee that is worked out as a percentage of your loan amount.

The amount is then split over your loan term. Sanlam offers a loan calculator on their site that you can use to get a rough estimate of what the loan in it's entirety will cost you.

A fine-tuned credit solution ready to meet your needs

Get your fine-tuned personal loan from Sanlam and take an extravagant holiday, renovate your master bedroom, or pay for a special event for a loved one.

The only limit to what you can spend this loan on is your imagination!

Sanlam Services

Personal loans are not the only service Sanlam has to offer.

Life insurance was where they started, but today they offer a wide range of financial solutions. They cater to individuals as well as the small business sector.

Here are a few of the brilliant services they provide

  • Retirement Annuity
  • Critical illness cover
  • Disability Cover
  • Unit Trusts
  • Online Will and more!

Sanlam rewards their members for faithfully repaying their personal loans by offering them the chance to get back up to 20% of the loan repayment. You can qualify for this by becoming a member of Sanlum reality.

Payback your loan for 12 months without default and you could qualify for this awesome offer.  This is done to encourage clients to become more responsible for their finances.  After all, the better your credit score, the better rates you can get on future loans.

A lender that cares

Your financial wellbeing is also something Sanlam is interested in. Visit their website for handy tips on how to make sure you don't get taken advantage of by charlatans looking to steal your savings.  Sanlam also makes use of the Debicheck system.

This means that once you have an agreement with Sanlam, you will be contacted by your bank to confirm that you have authorised the debit order.

Use your personal loan to save yourself money and the stress of dealing with multiple accounts. Calculate the total of your outstanding debt, credit cards included. Take a personal loan from Sanlam to cover the amount and pay off your debts.

Save on interest and admin fees

By trading all those accounts for one loan, you save on the interest and administration fees you pay every month to every company.

Before using your loan this way, make sure none of your debts has early repayment penalties.  If they do, take it into account when applying for your debt consolidation loan.

Sanlam Product Details

  • Loan Type Personal loans
  • Interest Rate 18.55 – 24.50% p/a
  • Loan Amount up to R200,000
  • Repayment 2 years to 6 years

Summary of Services

  • Affordable personal loans up to R200,000
  • Fixed interest rates starting from 18.55%
  • Repayment terms up to 6 years

Sanlam offers you amazing terms on personal loans!

Applying for your personal loan is the easy part.

Simply go to the Sanlam site and click apply. If you'd like to find out if you qualify for the loan before filling in the forms, give their call centre a ring.

Sanlam's capable call centre agents will gladly give you any additional assistance. Then fill in a quick loan application online and provide them with the necessary documentation.

This is a list of the documents you'll need to apply:

  • S.A. Identity Document
  • The details of the bank account your repayments will be deducted from
  • Your payslips for the last 3 months

You must be a South African citizen working in S.A. to be eligible for a loan with Sanlam. Depending on your marital status, your spouse will also be required to consent to the loan agreement.

No security required!

You will not be asked for collateral on a personal loan from Sanlam. These loans are unsecured loans and will be extended based on your ability to repay them.  A bad credit record may lead to your application being denied.

If you have a bad credit record and don't need the loan urgently, take some time to pay off some of your debt. Improving your credit record will open doors for you.

Once lenders see that you have made an effort to correct your past financial errors, you will find it easier to get a personal loan with terms that suit you.

Customer Reviews & Testimonials

January 2020

I recommend Sanalm to anyone looking for a loan. Their service is fast and efficient. The rewards system is first-rate!

Kate D
— KZN —

April 2020

I managed to pay for my wedding with the loan I got from Sanlam. The rewards system is awesome!

Gill H
— East London —

February 2019

The call centre agents are helpful and friendly. Get your personal loan, funeral policy and life insurance all in one place!

Harry R
— Cape Town —

Sanlam Contact Details

Contact Number

E-Mail

  • not available

Website

Physical Address

Opening Hours

  • Monday 08:00 – 17:00
  • Tuesday 08:00 – 17:00
  • Wednesday 08:00 – 17:00
  • Thursday 08:00 – 17:00
  • Friday 08:00 – 17:00
  • Saturday – Closed
  • Sunday – Closed