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Direct Axis Loans offer substantial loan amounts of up to R300 000 with flexible loan terms.
Read our Direct Axis loans review to decide if this is the right credit company to meet your financial needs.
✅ How Much Do You Need?
WHO IS DirectAxis?
Direct Axis is an established lender founded in 1995, and is part of First Rand Group, one of the largest financial institutions in South Africa. The financial services company has a diverse product portfolio, including personal lending, short-term insurance (funeral cover), and financial health tools. The company also administers and manages WesBank loans.
The company claims to be the largest and most successful direct marketer in the financial services sector in South Africa and Africa as a whole. It’s also a member of the Direct Marketing Association and has its headquarters in Cape Town, Western Cape.
KEY FEATURES
- Loan amounts: R5 000 to R300 000
- Loan terms: 24 to 72 months
- Maximum interest rate: 29.25% per annum
- Loan types: Personal and consolidation loans
ILLUSTRATIVE EXAMPLE
If you were to borrow R50 000 at the maximum interest rate of 29.25% per annum over 72 months (6 years), the total repayment would be approximately R111 760.74. Total fees include a once-off initiation fee of R1 207.50 plus monthly admin fees of R69. Your monthly repayment amount will be approx. R1 552.
PROS
✔️ Secure and straightforward online loan application
✔️ Large loan amounts
✔️ Flexible repayment periods
✔️ Fast payouts
CONS
❌ Strict credit score requirements
WHY WE LIKE IT
The lender has developed a free and secure financial health platform that allows you to get your credit rating for free. DirectAxis Pulse is a valuable financial wellness tool that helps South Africans make informed borrowing decisions. Consumers can learn how to maintain and improve their credit scores and get customised tips for better financial health.
SUMMARY
This direct lender offers loans of up to R300 000 over 6 years maximum.
DirectAxis LOANS ARE BEST FOR YOU IF YOU:
- Have a good credit rating
- Earn at least R5 000 per month
- Need a loan for debt settlement
Full Direct Axis Personal Loans Review
Learn more about the perks of a Direct Axis Loan, how it works, and the application process.
Pros Explained
Simple and convenient application process
You can quickly and conveniently complete your loan application online via the company’s secure and straightforward platform. The lender specialises in simple loans, where you can get online and apply for credit in 15 minutes without having to stand in line at the bank.
You get a lot of borrowing power
Borrowers can qualify for a personal loan of up to R300 000. The wide range of loan amounts may appeal to a wide range of borrowers, especially those with large projects to complete and major purchases to make.
Up to 6 years to repay
Having a flexible loan term means you can spread out the cost of various expenses and enjoy comfortable monthly repayments. Your loan will have a fixed interest rate, making your repayments easier to budget for since they stay the same for the full term of your loan.
Get funds within 48 hours after approval
Fast funding is one of the top factors that make borrowers want to apply with a certain lender. The good news is that you get feedback quickly when you apply for a loan. The money could be in your bank account within 24 to 48 hours.
Cons Explained
Bad credit borrowers may have trouble qualifying
The lender specifically says it requires borrowers with a good credit score. That means bad credit borrowers will likely not qualify for a loan and should consider applying with a different lender.
How Do Direct Axis Loans Work?
A Direct Axis personal loan is suitable for various purposes, including home renovations, debt settlement, vehicle repairs and purchases, education expenses, medical expenses, travel and leisure, asset purchases, and other legitimate expenses.
The maximum interest rate is 29.25% per annum. However, your rate and initiation fees depend on your credit history and personal risk profile. Besides personal loans, borrowers can also get consolidation loans to pay off existing debt accounts, such as credit cards, retail accounts and other types of credit.
This leaves you with a single, fixed monthly payment that will be lower than what you’re currently paying. Direct Axis handles all the administration work, and you may also qualify for extra cash. These consolidation loans allow borrowers to simplify their finances, unlock more cash flow, and enjoy more peace of mind.
Are Direct Axis Loans Legit?
Are Direct Axis loans safe? Yes, based on the fact that Direct Axis (SA) (Pty) Ltd is a business unit of FirstRand Bank Limited, an authorised financial services and registered credit provider. It’s always safer dealing with a licenced lender because it means you have recourse if something goes wrong.
The company practices responsible borrowing according to the rules and regulations set by the National Credit Regulator (NCR). We recommend checking out Direct Axis Loans reviews online to better understand how this lender works.
How to Apply for a Direct Axis Loan
Check the requirements and learn how to get a loan online.
What You Need to Qualify
- Have a good credit record
- Earn a regular monthly income of R5 000 minimum.
- A valid bank account into which your salary is paid
- Payslips or bank statements for the last 3 months
- A clear copy of your ID document
- Recent proof of address
Direct Axis Loan Application Process
To start your online loan application, choose the loan amount, repayment period, and the purpose of the loan. The next step is filling out the application form with the required details, including your gross monthly income.
You need to be honest about how much you earn because you’ll be asked to provide proof of income documents. If you need to check your loan application status, simply log in to your account with your ID number.
If approved, you’ll get cash in your bank account within 48 hours. Apart from applying via the online form, you can also contact the call centre.
You can also apply for a quick and easy online loan with RandWallet. You only need to fill in our loan comparison form once to get multiple loan offers from up to 10+ lenders. Compare loan offers, choose the best one, and complete the application process to get cash in your bank account.
Direct Axis Loans Contact Details
📌Contact number. Call centre – 086 102 0304 / +27 86 102 0304
📌Email address. customerservice@directaxis.co.za
📌Head office address. Direct Axis Campus, 108 De Waal Road, Diep River, 7800
There is no Direct Axis SMS loan number.
Other Options Like DirectAxis Loans
Looking for similar loans? There are several top options.
- African Bank Loan. Apply for R2000 to R350 000 over 7 to 72 months. African Bank also offers debt consolidation loans.
- Sanlam Loans. You can get a personal loan of R5000 to R300 000 with repayments of 12 months to six years.
- Bayport Loans. You can apply online for a loan of up to R250,000 with this lender.
Frequently Asked Questions
It seems there are no Direct Axis loans for blacklisted people because this lender requires borrowers to have good credit to qualify.
No. Sanlam is part of Sanlam Group, a financial services group headquartered in the Western Cape, whereas DirectAxis is a business unit of the FirstRand Group.
Sanlam and Direct Axis have a business relationship where Sanlam, an insurance provider, has appointed Direct Axis as the binder holder. In this role, Direct Axis is authorised to perform certain binder functions on behalf of Sanlam. These binder functions involve entering into, varying, and renewing policies.
You may be asking, “How can I get a Direct Axis loan top up?” There’s no mention that customers can get a Direct Axis loan increase. You can contact the lender to find out if you can qualify for extra cash.
With Direct Axis, you can apply for R5000–R300 000 with loan terms of 24 to 72 months. The money can be used for debt consolidation, home renovations, education costs, and other expenses. Your interest rate depends on your credit risk profile.
Direct Axis loan repayments are made via debit order. If you need to settle your account, simply contact the lender to get a settlement amount. You then pay the stated amount into the specified bank account in the agreed time frame, after which your account will be closed.
If you need to close your account, you’ll need to pay the required settlement amount in the agreed time frame.
Watch Video: DirectAxis – If You Have a Dream, We Can Make It a Plan
Our Research Expert
Gracie Makowe is a full-time personal finance writer with 10 years of experience and a Bachelor of Commerce in Financial Management from UNISA. Learn more.