Credit Life

Credit life taken before August 2017

What is your employment status?

What are you experiencing?

Can you claim and what can you claim for?

What documents will you need to submit?

 

I am permanently employed

I have experienced permanent disability or I have been diagnosed with a certain dread disease, such as cancer, heart attack, stroke or renal failure or I have had a major organ transplant or heart surgery

Yes. You can apply to have your account balance settled in full

Proof of illness or disability

 

We will provide you with a form, which your doctor will need to complete.

I am temporarily disabled or I have been retrenched

Yes. You can apply for 6 months’ instalments to be paid on your behalf

Proof of retrenchment or temporary disability such as a letter from your doctor or retrenchment notice from your employer for a retrenchment claim.We will provide you with a form, which your doctor will need to complete.

I have been retrenched

Yes. You can apply for 6 months’ instalments to be paid on your behalf

Retrenchment letter from your employer.

My employer is still paying me but only a percentage of my salary

No claim

 

My employer has temporarily suspended my income

Yes, if your full income has been suspended for at least 30 days

Letter from your employer, Bank statements.

I am self-employed

I have experienced permanent disability or I have been diagnosed with a certain dread disease, such as cancer, heart attack, stroke or renal failure or I have had a major organ transplant or heart surgery

Yes. You can apply to have your account balance settled in full

Proof of illness or disability

 

We will provide you with a form, which your doctor will need to complete.

I am temporarily disabled and unable to earn an income

Yes. You can apply for 6 months’ instalments to be paid on your behalf

Proof of illness or disability

 

We will provide you with a form, which your doctor will need to complete.

I have experienced a temporary loss of income

Yes. You can apply for 6 months’ instalments to be paid on your behalf

Bank statements and other evidence to prove loss of income

I am a contractor

My contracts have been permanently cancelled

Yes, if you can provide sufficient evidence

Proof of cancellations, Bank statements.

 

I earn my income from informal work (e.g. domestic worker, gardener, painter etc.)

My income has permanently stopped because I’m no longer working

Yes, if you were permanently employed at the time of registering your cover

If yes, letter from employer(s).

All customers

The policy holder has passed away

Yes. The spouse or executor of the estate can apply to have the account balance of the deceased settled in full

Death certificate

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

Pulse

Pulse is a FREE financial wellness tool that allows you to check and improve your credit rating.

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Personal Loan

A Personal Loan is a convenient way to take care of your personal and family needs and goals.

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Consolidation Loan

Consolidating can be an effective way to manage your finances and increase your cash flow.

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24%

of customers use loans for consolidation

24%

of customers use loans for renovations

12%

of customers use loans for education

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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.

Legal Documents - Sitemap

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%.