In order to find the right loan, sometimes we waste too many hours exploring options that are not even convenient for us. When you look for loans it is important to find a company that can give you financial rest. One of these companies is Direct Axis, a company that has been established in the loan industry for more than twenty five years in the market. Explore what it has to offer: personal loans, debt consolidation, loan application and much more.
What is Direct Axis? Does it provide loans?
Direct Axis is a business company that was established in South Africa to provide loans, insurance brokerage and a variety of lending products. It has been active for twenty four years already and it has widened the possibilities to its clients when it comes to the products it offers. It is a marketer that promotes responsible lending and borrowing. The company aims at providing lending products so that customers can reach out for different solutions, depending on each particular case. There are two different set of loans at Direct Axis:
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Personal loans
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Consolidation loans
How can somebody apply online for Direct Axis loans?
Customers get to choose whether to apply online or via phone by reaching a call centre that is available from Mondays to Sundays. In order to apply for an online loan, you will need:
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A credit record good enough to apply
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A regular income per month with a minimum of R5000
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Your bank account details (the one in which your salary is deposited)
When you apply, you should bear in mind that you will have to present certain documents such as:
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A copy of your ID (this copy must be legible and clear and you have to be a south African citizen)
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Your residential address must be confirmed through a document
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The last bank statements or payslips (the ones from the last three months)
The process online has been streamlined. You can even upload the necessary documentation through their online application.
How long does it take for direct axis to approve a loan?
In general, once you have completed the form with all your data, Direct Axis gets in touch with customers to let them know whether their loan has been approved. Members of Direct Axis analyze the information you have provided and if matters run smoothly, your loan is approved in just a few hours.
How long does a Direct Axis loan take to pay out?
Once again, the waiting period is sometimes unknown since it depends on a variety of factors. The company Direct Axis will arrange this matter with you beforehand so that you can have all the information you need.
Are there Direct Axis student loans?
When students are studying for their exams, the last thing on their mind should be picking the right loan. They already have so many worries on their mind. With Direct Axis, students can ask for a personal loan and use it to cover their student debts, college, tuition and university fees. There are no student loans per se, but personal loans can cover these needs.
Could I ask for vehicle finance with Direct Axis?
Once again, Direct Axis does not offer vehicle finance loans per se, but perhaps with a personal loan you can use that amount to cover for your vehicle’s cost or damage.
Can I make use of a Direct Axis personal loan repayment calculator?
Yes, Direct Axis offers a set of tools and financial resources for you to calculate the repayment of your personal loans. First, you need to ask yourself how much money would you like to borrow. Remember that the minimum is R 5,000 and the maximum is R200,000. The disadvantage of this loan repayment calculator is that it will only provide you with the information that you need If you provide Direct Axis with the following information:
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· Cell phone
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· First name and last name
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· ID
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· Gross income calculated monthly
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· Accepting conditions established by the company.
Does Direct Axis offer insurance besides loans?
If you are already a loans customer at Direct Axis, then you qualify for funeral cover insurance. This comprehensive insurance plan gives you a peace of mind and financial support to face those uncomfortable and terrible situations in life. This insurance deal is offered to you for being a loan customer at Direct Axis.
What do Direct Axis personal loans consist in?
Personal loans at Direct Axis are a convenient way of accessing lending solutions. These personal loans provide customers with financial relief and they access multible advantages and benefits:
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· It is safe to fill the application form online
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· Repayments are kept fixed for the loan’s full term.
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· Repayments can range over a term from twenty four months up to six years.
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· The money could be in your account within only forty eight hours
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· You will receive the feedback really quickly
Customers can make use of their loans for the following reasons:
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· You receive the loan straight to your bank account
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· You can cover debts, emergencies, unplanned events, or home improvement
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· You can take a trip overseas, upgrade certain electronics that you own or even carry out home renovations.
What can you obtain?
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· You are dealing with an authorized services provider
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· Responsible lending is supported
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· You will be approved for an amount that you can actually afford
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· Loans are unsecured which means that there is no collateral involved
How does a loan quote work at Direct Axis?
Quotes at Direct Axis work the same way as in other company. You pick a loan of your interest and then you check the quotes for that loan. In order to access the quotes, you will have to provide Direct Axis with your information. This generally takes place online, not by phone.
How is the interest rate for Direct Axis loans?
Rates for Direct Axis loans are constantly changing just like the conditions of the market. You will find out the rate once you have checked whether you can apply. This means that the company will first evaluate all your data provided and your credit profile. Then, it will offer you a financial deal with a particular rate that you can comfortably afford.
Does direct axis offer home loans?
Direct Axis does not provide home loans per se. instead; it offers personal loans which are generally used for carrying out home improvements. If you need to renovate your home, tear a wall down to create more space or change it all from scratch, you can make use of a personal loan to receive the financial aid you need.
Does direct axis offer business loans?
Unfortunately, it does not. Perhaps you can get in touch with the company to inquire about this possibility by making use of a personal loan with that purpose.
Does Direct Axis offer consolidation loans?
Everybody knows that consolidating a loan is generally an incredible way to manage and deal with your finances in an effective way and increase, therefore, your cash flow. Why is it a good option to consider a debt consolidation loan?
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Customers will only have a unique monthly payment, which will replace all the accounts that you pay for each month
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Your cash flow paid per month can be improved
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This loan can be used for settling existing loans, credit accounts or settling your retail
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The money that remains can be used as you prefer.
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Repayments are always fixed.
You can make use of debt consolidation loan in order to settle smaller debts into a single loan. This can generally be done with loans and store cards. Besides, your finances can be streamlined with a consolidation loan. You would only have one creditor to simplify and manage your finances. Payments are easier to manage and you can save on service fees per month.
Do Direct Axis and Sanlam provide similar personal loans?
First of all, you should know that Direct Axis manages and administers the loans from Sanlam. Both companies are similar and different in certain aspects. Each of these companies offers loans and lending products that can be of great help, especially if you are under financials stress. Perhaps if what you need is to compare rates or quotes, you can get in touch with Sanlam and ask for your options. Sanlam is also a company located in South Africa that operates both physically and online to provide you comfort.
What is the difference between Direct Axis and Wesbank loans?
Wesbank and Direct Axis have one main similarity and that is the amount they offer to its clients. They both offer a minimum of R5000 up to a maximum of R200 000. It offers convenient repayment terms. Unlike Direct Axis, Wesbank allows you to check repayment through a loan calculator without the need of providing the company with your personal details. If you choose, for instance, an amount of R5000, the repayment term is of two years and the monthly estimated repayment is of R 397.44. You will access interest rates and the monthly service fee.
Does Clientele work with Direct Axis when it comes to loans?
Direct Axis arranges your Clientele loans as being the authorized financial provider. Clientele is chosen by many clients because of the options it offers. The minimum amount for the loan is of R 3000 and the maximum is of R120 000. The term for the loan is of R 120 000 while the repayment term of the loan is of sixty months.
Are the reviews for Direct Axis loans positive?
There are many good comments and reviews when it comes ot providing feedback for Direct Axis. These are some of the testimonies:
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One customer claimed: “I managed to apply and receive the money in only twenty four hours. The whole process was really efficient and quick”
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Another customer stated: “I have been working with this company for a few years already and they have always been professional when dealing with complex situations. Every time I needed a loan, they delivered in the best way possible”
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Other customers agree that “Direct Axis is a great company to do business with. I have been a customer for over fifteen years and whenever there was a problem, they managed to give me a proper solution very fast”
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Another user said “ the process run smoothly and the company made sure to reach me to help me throughout the whole application”
What happens if I skip a payment with Direct Axis?
Clients are advised not to fall behind with their payments and not to skip them. Otherwise, there might be consequences and they may be charged a higher rate. In their blog, you will find a section with tips and advice of how to be in charge of your finances and how you can get rid of the debt trap quickly.
Are there any Direct Axis loans in Cape Town?
Yes, you can even find an office located in Cape Town 7800. It is located in Southfield. You can visit this company in person or simply apply for the loan through your cell phone or computer without the need to go there.
Which are Direct Axis loans contact details?
If you need to contact Direct Axis, you can do it online by leaving a message through their website and leaving your data for them to contact you. Another possibility is to reach out for the call centre by calling at 0860 66 33 33. You can reach the company from Mondays at eight in the morning till Fridays at five in the afternoon. It remains closed during weekends.
In conclusion, if you are thinking of applying for loans at Direct Axis, you may get what you needed and even more. It offers the possibility to apply for an online loan and you can ask for personal loan or debt consolidation loans, depending on your needs and urgencies.
Author: Cristian Renella
Update: 02/09/2023
Preguntas Frecuentes
What’s the monthly cost on a R110.000 loan on 4 years?
As you’ll get the official cost only after having applied, we’ll assist you with an estimate to help you know how much money you’ll have to repay. There’s a monthly fee charged for the service of R69 (which tends to be equal for any bank). Then, if Direct Axis states a high interest rate of 27.5%, you must have R4302.30 each month to cancel the instalment. Apart from that, you’ll encounter an Initiation Fee of around R1207.50.
Do I need collateral to apply for a personal loan?
No, you don´t need it because this loan is unsecured.
Do I need to bring any paperwork to apply for a personal loan?
You will need to provide proof of residence and a copy of you green bar coded identity book.
I want to know if I qualify for a loan with Direct Axis
Direct Axis’s qualifying criteria for a loan gathers 3 points: credit record, monthly income and bank statements. To start, if your credit record is good, your income is R5000 or more and, you get that income through your bank account, you can start the application. Then, obviously, you must prove your identity, address and income by presenting valid documents.
Hello. I sent my 3 months bank statements as a proof of my payment last week. I just want to check if it was received and, how should I go on?
Direct Axis will take some time to go over those documents for two reasons. One of them, they need to make sure they are valid, which shows they’re responsible with their clients and, the other reason is to make sure you qualify for the loan amount you are asking for. Once they check everything, they’ll get in contact with you to let you know the final outcome of your application.
I would like a loan to buy a house
The loan amount for a Personal Loan with Direct Axis can be as high as 200.000 rands, which may not be enough to buy a house. If you need to get your own house, it would be more practical to work with a company that issues Home Loans like, for instance, SA Home Loans. They offer excellent loan products thought specifically to help South Africans get the house of their dreams.
Years back, I had a consolidation loan. Now it has been canceled but I still have debts to pay. Is it possible to borrow r1800 to make a once off debit the following month?
Those loan terms are not suited for Direct Axis as; they grant loans starting on 5000 rands and, their loans should be paid between two and five years. It seems that what you’re looking for is a payday loan. These short term loans are granted for such small amount to pay off in less than 6 months. What’s more, some of them are repayable in the client’s following pay day.
I need to extend my loan with you to r 150000 please.
You can’t be sure if that’s possible until Direct Axis takes over your information to verify the status of your loan. On one side, it’s important to know how many installments had you paid so far and, if you hadn’t fallen behind with any of them. All in all, the company needs to know for sure, you won’t end up owing them a great amount of money.
Do I need to live and work in South Africa to take out a loan?
Yes, you need both of them to qualify for the loans.
How long does it take to recieve the loan when you have sent all the documents. Do you also pay loans weekends to my accounts if approved?
From the moment Direct Axis gets your documents, there may be few days until you finally get the money. They will verify everything is ok and, they will let you know the outcome of such revision. Keep in mind, they can ask you for some extra documents so, make sure you have everything you need to speed the process up. Then, you might have to wait for 1 or 2 working days to have the funds in your account.
How much will my payment be if I borrow R20 000 over 5 years?
If you borrow R20,000 over 5 years at DIRECT AXIS you will pay repayments that will be calculated on the basis of the interest rate you get. This rate will be established by Direct Axis after analyzing your credit record. For instance, let's say the rate is set at 27%, then you would pay R423.
Can I make a quote of 30,000 rand over a period of 3 years? How much will I pay?
If you want a personal loan of R30,000 with Direct Axis over a period of 3 years, then you need to know the following details. There will be an initiation fee of 1,207.50 rand, a monthly service fee of 69 rand, the interest rates will be about 26.5%, and last, the monthly instalments will be about 1,443.92 rand.
Can you borrow more money with the loan you already have?
Direct Axis does not specify if you can obtain more money apart from the loan you already have. However, the recommendation is to practise responsible borrowing, which means to consider your monthly income and your affordability capacity to start an application process. In addition, the financial company will carry out a credit check on your person..
Can I get a loan while in Lesotho?
If you are living in Lesotho, it will be a little bit difficult to apply for a personal loan with Direct Axis, as one of the main qualifying criteria is to be a South African citizen or a permanent resident. So the recommendation is to find out and check local financial institutions or lenders, which will offer several loan options.
If you take out a loan to help pay off your other loans, will Direct Axis do that and also give you money in your bank account?
There are no restrictions as regards the destination of the money provided by DirectAxis. This means that you can use the loan for any need you may have, in this case, to pay other loans. In order to qualify, you just need to comply with some criteria: a South African ID, a certificate of residence and a recent bank statement or proof of income.
I would like to I apply for consolidation loan. How do I go about applying?
Direct Axis offers the possibility to apply for an online consolidation loan. To be eligible, you need to have a good credit record, and a regular monthly income of around 5,000 rand. Also, you will need to provide the following documentation: details of your bank account, your last 3 payslips or bank statements, a copy of your ID and proof of residence.
How do I make an application for consolidation loan?
You can apply for a consolidation loan in an online way with Direct Axis, therefore, you do not need to visit a local office to do so. Also, you will have to meet the qualifying criteria like a good credit history and a regular monthly income of at least 5,000 rand.
In terms of credit score, what should it be in order to qualify for a consolidation loan?
In order to qualify for a consolidation loan with Direct Axis, it is important to have an excellent credit score. This should be around 720 to 850 points, which will help obtain a low interest rate. However, having between 690 and 719 credit score could make you obtain a good rate too. Also, it is recommended to have a clean credit report.