What Are Sanlam Personal Loans? How To Get Them?

If you are looking for personal loans, Sanlam lends you money between R 5000 to R 300,000 with an additional 10% of the loan amount in wealth bonus. Sanlam Loans are reliable loan providers in South Africa that you can rely on in case of a situation where you need money like a medical emergency or unexpected sudden expense. Here in this article, we will look at the details about Sanlam loans, how you can apply for them, and other relevant information related to them.

What Are Sanlam Personal Loans? How To Get Them?

Sanlam Personal Loans are the loans offered by Sanlam Financial Service providers who are renowned not only in South Africa but throughout the world including Malaysia and India. They work in over 30 countries and are providing financial assistance to more than millions of people. 

You can get up to R 300,000 of cash payment as a loan at a fixed interest rate. The company provides you with an additional 1% of the wealth bonus on qualifying loans. 

The repayment terms are customizable and flexible enough to make sure that the borrower can repay the payment without putting themselves under financial stress. The repayment term varies from 12 months to 6 years depending upon your financial condition and convenience. 

Moreover, the interest rate applicable on the loan amount is between 16% to 29.25% is fixed, and does not change through the course of repayment. One thing that you have to keep in mind is that whatever loan you are applying for from Sanlam will come with a personal protection loan, which is loan insurance. 

To apply for Sanlam Loans, you must fulfill the eligibility requirements. Let’s discuss the eligibility requirements first that you need to fulfill before applying for loans.

Eligibility Requirements 

Here is the list of minimum eligibility requirements that you have to make sure of to apply for Sanlam Personal Loans. Make sure to fulfill them before initiating the application procedure so that your application gets accepted smoothly without any interruption. In order to apply for Sanlam Personal Loans, 

• You have to make sure that you are living and working in South Africa. 
• You can make sure that you have a South African ID with you. 
• You have to make sure that you are employed.
• Also, ensure to provide proof of your employment in the form of bank statements or payslips. 
• Moreover, you also have to make sure that there is a bank account registered on your name where you receive your income.

How To Apply? Application Procedure

Here is the step-by-step procedure that you need to understand before applying for the loan. This is important because following the procedure as it is will help you in submitting the application easily. In order to apply for Sanlam Personal Loan, what you have to do is to,

• Visit the official website of Sanlam by simply clicking on Sanlam.co.za/personal/personalloans/Pages/default.aspx#.

• Then you have to scroll down until you see the option of “Applying For A Loan.”
• Click on it and you will be directed to a short application form. 
• Here you have to fill in the required information. You have to put in your name, your ID number, your cell phone number, and the gross monthly income that you get. 
• After submitting the form you have to wait to check whether you qualify or not. 
• The website lets you know if you qualify for the loan. If you qualify, you can then finalize your application by attaching necessary documents as mentioned below. 
• Now submit and wait until a response from Sanlam. 
• If your application is approved you will receive the money in the bank account you have provided.
• Moreover, you also have the option of applying for a personal loan by simply calling +27 86 144 0044.

Essential Documents

The documents that you have to submit if you qualify for the Sanlam personal loans includes,

• A clear and certified copy of your South African ID
• Your residential proof 
• 3 months latest and stamped bank statement or recent payslips (if you do not have bank statement with you) 
• Moreover, you also have to submit proof that you have a bank account and you receive your income from that. 
• Also, make sure to submit proof that you live and work in South Africa. 

How To Contact Sanlam Personal Loans?

In case of questions and queries, you can contact the Sanlam Loan providers. The company offers concerned customer service and ensures all of the queries and questions of the customers are answered. 

Contact Number: 

If you want to contact Sanlam by calling their contact number, you can simply dial any of the following mentioned numbers. 

• 0861 44 00 44 
• 021 947 9111 
• 0861 20 40 60

Visiting Address: 

If you want to visit Sanlam in person and want to sort out your queries you can visit them at their head office. The address of the head office is mentioned below. 

Sanlam Head Office, 2 Strand Road, Bellville, 7530, Western Cape

Make sure to contact Sanlam in their contact hours. The contact hours are,

Monday to Saturday: 8:00 A.M to 8:00 P.M

FAQs

What are the advantages of Sanlam Loans?

Sanlam Loans offer numerous benefits to its customers making them one of the best choices for most of the people who need financial assistance. Their application procedure is quite easy, straightforward, and online. There are monetary rewards available for the qualifying applicants and you also get a free monthly credit profile. Furthermore, the interest rate can be customised, and you get the repayment term between 12 months to 6 years.

Is Sanlam a safe and trusted option?

Yes, Sanlam is a recognized and registered financial service provider that has been operating in South Africa for more than 100 years. It has a solid reputation and is known to provide its services not only in Africa but throughout the globe in more than 30 countries.

Can you use Sanlam for education purposes? 

Although the Sanlam Loans does not provide student or education loans as a separate product, the personal loans you get from Sanlam can be used to pay for educational expenses. You can get up to R 300,000 from Sanlam and can use this payment to pay for educational costs.

Are there any drawbacks of applying for a loan from Sanlam?

Although the company is a reliable and trustworthy company when it comes to financial assistance, certain disadvantages will make you think twice before applying. It does not have any smaller loan amounts or payday types of loans for those who need quick financial assistance for a smaller time. Moreover, your interest rate will increase if you do not have a good credit score.

Is it possible to check how much loan you can afford from Sanlam?

Yes, you can check how much loan Sanlam can provide you based on your affordability. There is this loan calculator available on the official website of Sanlam. You simply have to visit the official website and scroll down until you see the option of using “Our Loan Calculator.” Click on it and follow the instructions as it is to check how much loan you can afford from the company.

How long does it take to give you the payment after application approval?

As soon as your application is approved, you will receive your money within 24 hours to 48 hours. The money is directly paid to the bank account you have provided as soon as possible.

What are the services offered by Sanlam?

Sanlam is a recognized and registered financial service provider working in more than 30 countries, including South Africa. It originated in South Africa and offers a wide range of financial products, including personal loans, insurance investment, and financial planning.

Conclusion 

Sanlam is a well-known, renowned, and one of the established South African Financial Service providers that have a reputable performance in more than 30 countries. The lender offers numerous types of loans that vary from R 5000 to R 300,000 and comes with fixed interest rates and monetary rewards. This above article tells you everything about Sanlam Loans so you can understand the details before initiating the application procedure.