Bidvest Bank – online loan South Africa
Personal loans up to R300,000 from a JSE-listed bank
Applying does not commit you to a loan agreement.
Bidvest Bank personal loan in South Africa
Bidvest Bank is a wholly owned subsidiary of Bidvest Group and a JSE-listed financial services provider. The bank focuses on niche segments including foreign exchange, fleet management and personal lending. Personal loans go from R5,000 to R300,000 over 12 to 72 months.
Apply at any Bidvest Bank branch or online. The bank requires three months of bank statements, the latest payslip and a copy of your ID. New clients do not need to open a Bidvest Bank transactional account first. Approval usually takes 1 to 2 working days, faster if you bank with Bidvest.
Interest rates start at around 14% APR for clients with a strong credit profile, capped at the NCR maximum of repo plus 21%. The bank charges a standard initiation fee plus a monthly service fee built into the repayment. Credit life insurance is compulsory on terms above 12 months. Early settlement is allowed with notice but a small fee may apply on amounts over R250,000.
✓ Pros
- Open to non-Bidvest clients
- Competitive rates for good credit
- Strong JSE-listed parent company
- Branch support available
✗ Cons
- Smaller branch network than Big 4
- No instant online approval
- Early settlement fee on large amounts
Loan example
A R75,000 loan over 36 months at 18% APR costs around R2,725 per month with R23,100 in total interest.
Loan requirements
- ✓ 18+ years old
- ✓ South African ID
- ✓ Monthly income above R5,500
- ✓ Three months bank statements
- ✓ Latest payslip
Loan features
- Loans R5,000 to R300,000
- Term 12 to 72 months
- No need to switch banks
- Branch or online application
Frequently asked questions
48 hours after submitting your application.
The minimum amount at Bidvest Bank is R5,000.