Credit Life

Personal Protection Plan - What You Should Know

When you applied for your DirectAxis Personal Loan, you had the option to take our Personal Protection Plan, which is the credit life cover specific to your DirectAxis loan. If you need to claim at any time, here’s what you need to know.

Click here for credit life taken after 1 August 2017.

Click here for credit life taken before August 2017.

Certain exclusions do exist, which your Personal Protection Plan policy document details, so please make sure you read it carefully to find out more.

Should you need to make a claim on your cover, here’s how:

  1. Contact IUA Business Solutions, who administer claims on behalf of Hollard Life Assurance Company Limited, on 031 5707600 or, within 180 days, from the date of the event giving rise to the claim.
  2. Send all relevant information and details regarding the claim – in writing – together with all documentation supporting the claim within 90 days from the date of notification. You can send the documentation to

We are always here for you and should you have any questions or queries regarding your Personal Protection Plan, please don’t hesitate to contact us on 021 764 3519 or email us at

Please do keep in mind that any information about your DirectAxis Personal Loan and Personal Protection Plan policy is important, so please do share it with your loved ones.

DirectAxis Financial Services is part of the FirstRand Group and has partnered with FNB in order to provide the COVID-19 Payment Break to our customers. This is a 3-month payment break, facilitated by a separate credit agreement at prime interest rate.If your claim is not successful, or you do not meet the criteria above, you can apply for the COVID-19  Payment Break

For our DirectAxis customers who are also customers of FNB, this payment break application can be done on the FNB app. For our other customers, please can you contact us on

Click here for more information.



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DirectAxis is a business unit of FirstRand Bank Limited, an Authorised Financial Services and Registered Credit Provider, NCRCP20. Direct Axis SA (Pty) Ltd, Reg no. 1995/006077/07, an authorised Financial Services Provider, FSP7249 & FSP5. 108 De Waal Road, Diep River 7800.

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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 24.50% 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 24.50% 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 103 155.57 which is a maximum Annual Percentage Rate (APR) of 27.76%.