Borrowing
Compare Debt Consolidation Loans in South Africa
Debt consolidation means a new credit agreement used to settle other qualifying debts, so you have one instalment. It is not debt review. Debt review is a statutory process with a registered debt counsellor. A consolidation loan is ordinary credit, and the new provider still has to assess affordability.
A lower monthly payment does not necessarily mean a lower total cost. A longer term can add more interest than the monthly relief saves. Each card shows the date that product was checked.
Lower monthly payments do not necessarily mean lower total costs
Standard Bank, Nedbank, Absa Switch and Save and Letsatsi publish consolidation offerings. Capitec is included only as a personal loan that the bank says can be used to consolidate. That card is marked general-purpose, because nothing published shows a separate consolidation tariff. African Bank, Old Mutual Finance, Sanlam and Century Financial Services were reviewed and are not listed, because a current consolidation product page was not confirmed.
Nedbank’s R2 000 to R400 000 figures are calculator inputs on the provider page, not a guaranteed product range. They are not shown as the loan amount, and they are not used as a filter.
Standard Bank says it can settle up to three qualifying fixed-term loans and shows no initiation fee and a R69 monthly service fee. Insurance still needs a quote. The minimum loan amount was not published.
Compare providers
Each card uses the product published for this page. A product that also appears under another heading is still the same product. A missing fee is not shown as zero.
Consolidation loans
A lower instalment can still cost more over a longer term. This is not debt review.
Absa
Switch and Save
Bank consolidation loan
A new credit agreement used to settle other debts. This is not debt review.
- Amount
- R15 000 – R350 000
- Repayment
- 12–84 months
Personalised interest rate. Confirm the rate in the quotation. You may not be offered a published example.
- Initiation fee
- Confirm in your quotation.
- Monthly service fee
- Confirm in your quotation.
- Credit insurance
- Confirm in your quotation.
Eligibility. Subject to qualifying existing obligations and affordability
- Published range and 12–84 month repayment periods
Information last checked 28 October 2026. Not independently verified. Check the legal entity on the National Credit Regulator register before you apply.
Letsatsi Finance
Debt Consolidation
Direct credit provider
A new credit agreement used to settle other debts. This is not debt review.
- Amount
- Confirm with the provider
- Repayment
- Confirm with the provider
Confirm the interest with the provider.
- Initiation fee
- Confirm in your quotation.
- Monthly service fee
- Confirm in your quotation.
- Credit insurance
- Confirm in your quotation.
Eligibility. Financial assessment, source quotes required
- Explicit consolidation offering
Information last checked 28 October 2026. Not independently verified. Check the legal entity on the National Credit Regulator register before you apply.
Nedbank
Debt Consolidation
Bank consolidation loan
A new credit agreement used to settle other debts. This is not debt review.
- Amount
- Confirm with the provider
- Repayment
- Confirm with the provider
Personalised interest rate. Confirm the rate in the quotation. You may not be offered a published example.
- Initiation fee
- Provider says initiation fee applies.
- Monthly service fee
- Provider says monthly service fee applies.
- Credit insurance
- Optional provider insurance / own qualifying insurance.
Eligibility. Existing qualifying debts and approval; actual eligibility depends on bank
- Consolidation calculator and account settlement
- Can compare estimated total repayment
Information last checked 28 October 2026. Not independently verified. Check the legal entity on the National Credit Regulator register before you apply.
Standard Bank
Loan Consolidation
Bank consolidation loan
A new credit agreement used to settle other debts. This is not debt review.
- Amount
- Confirm with the provider
- Repayment
- 12–84 months
Personalised interest rate. Confirm the rate in the quotation. You may not be offered a published example.
- Initiation fee
- No initiation fee.
- Monthly service fee
- R69/month.
- Credit insurance
- Insurance optional/available; exact quote required.
Eligibility. 18+ SA citizen/permanent resident, ≥R3,000 income, qualifying fixed-term loans
- Settles qualifying loans directly
- No initiation fee
Information last checked 28 October 2026. Not independently verified. Check the legal entity on the National Credit Regulator register before you apply.
Not a dedicated product for this need
The provider may allow this use. It is not a separate tariff for this purpose.
Capitec
Personal Loan for Debt Consolidation
General-purpose credit
Not a dedicated product for this need. The provider still assesses the application.
- Amount
- Confirm with the provider
- Repayment
- 12–84 months
Personalised interest rate. Confirm the rate in the quotation. You may not be offered a published example.
- Initiation fee
- Example R1,207.50.
- Monthly service fee
- Example R69/month.
- Credit insurance
- Credit life required.
Eligibility. Income and affordability verification
- Can use personal loan to consolidate
- App-based journey
Information last checked 28 October 2026. Not independently verified. Check the legal entity on the National Credit Regulator register before you apply.
Compare selected products
Choose up to three. This view does not rank a cheapest or best product, and it does not estimate an instalment.
No products selected.
Same rate, longer term
Hypothetical only: R50 000 at 18% a year, no fees, reducing balance, monthly compounding. This is not a provider quotation.
24 months
Instalment R2 496.21. Total interest R9 908.92.
72 months
Instalment R1 140.39. Total interest R32 108.05.
Illustrative repayment calculator
Type your own amount, annual rate and fees. The result is an illustration, not a provider quotation. It assumes equal monthly instalments. It does not price a loan counted in days, a student interest-only period, or a fee that was left blank.
What to check before you apply
Settlement figures
Ask each creditor for a written settlement amount. The new loan should match those figures and any lawful fees, not a larger amount paid into your current account.
Close the old facilities
A card you consolidate and then use again is two debts. Close it or cut the limit in writing.
Debt review is separate
If you are already over-indebted, another loan may be refused or may be the wrong tool. Debt counselling is not a consolidation product.
What changes the total you repay
Interest over a longer term, a new initiation fee, any monthly service fee, credit insurance, and early-settlement costs on the accounts you close. There is no single formula that covers every provider, so the calculator on this page uses figures you type.
The illustration further down keeps the rate the same and only changes the term, so you can see the instalment fall while total interest rises. It is not a quotation from Standard Bank, Nedbank, Absa, Capitec or Letsatsi.
Consumer protection
A registered credit provider must assess affordability and give a pre-agreement quotation. These cards are not that quotation. Interest, initiation fees, service fees and credit life insurance are set out by the provider for the agreement you are offered.
Registration numbers are not shown as verified. Check the legal entity on the National Credit Regulator register, including cancelled and lapsed entries. Early settlement, arrears and default consequences depend on the contract and the National Credit Act.
Personal information you submit on a provider’s own site is their responsibility under POPIA. WiT Money does not take loan applications on this page. Information Regulator
How WiT Money compares these products
Each category keeps its own products. A short-term amount is not copied onto a student loan, and a bank study loan is not described as NSFAS funding. Empty fees and amounts stay blank.
Nothing is sorted as cheapest, best or easiest to get. The default order is alphabetical by provider, then product. A listed name is not a recommendation. No provider is paying for a placement. The button opens the provider’s homepage.
Bad-credit products stay ordinary credit assessments. The Standard Bank student loan without surety stays closed to new applications. NSFAS stays a public scheme, and its bursary is separate from the loan scheme.
Questions readers ask
Does consolidation repair a credit record?
Paying on time helps a record. A new agreement is also a new enquiry. Nobody can promise a score change from a consolidation loan.
Should I secure the new loan against my home?
A lower rate can come with the risk of losing the house. Get a written figure for the extra interest over the remaining bond term before you move unsecured debt onto the property.
Is Letsatsi’s consolidation the same as credit repair?
The bad-credit page includes a related Letsatsi pathway and warns against treating it as automatic borrowing for a weak credit record. A consolidation product is still an assessment, not a waiver.
Sources
Page updated 29 October 2026. A source date is the day WiT Money checked that page, not a promise the institution has not changed it since.
- National Credit Regulator
National Credit Regulator · checked 28 October 2026
- National Credit Act 34 of 2005
South African Government · checked 28 October 2026
Related borrowing pages
Personal loans
Longer unsecured loans, with their own amounts and terms.
Short-term loans
Smaller amounts and shorter contracts.
Emergency loans
The same short products, read as a once-off bill.
Bad credit
No specialist approval product was verified.
Student loans
Bank study loans and the NSFAS loan scheme.