Imagine

Using a Loan for a Funeral

family funeral insurance cover

Put your financial worries to rest with a funeral loan

The death of a loved one is traumatic enough without the additional worry of financing a funeral. If your loved one died without a funeral payment plan, applying for a loan for a funeral can be tough when you’re going through such an emotional time. Fortunately we make the process as simple for you as possible.

Most funeral homes and cemeteries require payment prior to funeral services being provided, and you will therefore need quick and easy access to funds to cover these costs.

There are many different types of funerals and costs can easily escalate. But, although you may feel overwhelmed and that things are beyond your control, you do in fact have control over the kind of funeral and burial procedure you’d prefer.

You may also be obligated to respect religious or cultural customs, and these will obviously play a large part in the choices you make. Some religions require burials to take place within 24 hours, while some cultures and religions forbid the cremation of bodies. It’s therefore wise to think carefully about what would best suit you and your loved ones.

Take a realistic look at your budget before making a decision. Decide what you can comfortably afford—without sacrificing money you need for daily living. Keep that amount in mind as you make the arrangements. Particularly if the person you have lost was a contributor to your household income.

Whichever choice you make, we hope we can be of assistance to you during these difficult times.

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24%

of customers use loans for consolidation

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of customers use loans for renovations

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of customers use loans for education

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Loan repayment terms range from 24 to 72 months. The maximum interest rate with regards to a DirectAxis Personal Loan is 27.5% 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 27.5% per annum would be: Loan amount R50 000 plus a once-off initiation fee of R1 207.50 and a monthly admin fee of R69.00, over 72 months.
The total cost of the loan will be R 110 013.57 which is a maximum Annual Percentage Rate (APR) of 30.74%.