Consolidation Loan

Lending Products

Consolidation Loans

Apply for a DirectAxis Consolidation Loan of up to R300 000 and enjoy these benefits: 

  • A single service fee and credit protection plan.
  • A single fixed monthly payment.
  • Lower monthly payments on your qualifying credit; consolidating your credit can free up cash.
  • Our experienced credit consolidation teams will handle all the admin of settling your credit commitments.
  • You could qualify for further cash in your bank account.
  • A fixed loan term that avoids the cycle of revolving credit. 

What is a Consolidation Loan and how does it work?

When consolidating your credit, your qualifying accounts are reduced into one single monthly payment at a fixed interest rate, freeing up cash. A Consolidation Loan is designed to simplify your finances, so instead of having several lending and credit accounts to manage, you’ll have just one. DirectAxis handles all the admin of settling your accounts for you. You may also qualify for further monies.

Apply online today to see if you qualify.

Frequently Asked Questions

Why should I use DirectAxis to consolidate my accounts?

With over 25 years’ experience in providing leading financial services to South Africans, DirectAxis is an Authorised Financial Services and Registered Credit Provider (NCRCP20), and a business unit of FirstRand Bank Limited.

DirectAxis will handle all the admin of settling your lending and credit accounts for you, giving you peace of mind.

How will a consolidation loan improve my cash flow?

When consolidating your credit, your monthly repayment of the qualifying credit will be lower than you are currently paying. Most South Africans who have consolidated their accounts with DirectAxis increased their cash flow between R1 000 and R1 500 every month. 

When should I consider consolidating my credit?

If you’re left with very little cash each month after all your qualifying lending and credit accounts have been paid, consolidation credit can be helpful. It’s a financial tool that’s used by businesses and many financially savvy people to simplify their financial affairs, save on administrative costs and free up cash. It's especially helpful in tough economic times.

How will DirectAxis settle my credit?

We’ll let you know for how much your accounts will be settled and will handle the settlement on your behalf. It's your responsibility and will be in your best interest not to re-open or continue to use these accounts.

Does consolidating my credit affect my credit score?

Consolidating your loan stands to benefit your credit score since you’re less likely to miss the repayment of a single loan instead of many individual accounts. However, debt consolidation is only the first step to improving your financial health. The next step is to improve your credit score rating. A poor credit score will negatively impact your chances of getting financial assistance in the future, making it difficult to rent or buy a home, take out a loan or even secure vehicle finance.

To get you started, sign up for DirectAxis Pulse. Pulse is a FREE and secure financial wellness tool that allows you to check your credit score rating and learn how to improve it.

What other benefits can I expect with consolidating my credit?

  • You’ll have the convenience of paying a single, fixed monthly payment; plus, a single service fee, and a credit protection plan.
  • The Personal Protection Plan will settle your outstanding loan balance in the event of your death, permanent disability or certain dread diseases.
  • Your monthly repayment of the qualifying credit will be lower than what you’re currently paying. 
  • You may also have the chance to put further monies you may qualify for to good use.

What type of accounts can I consolidate?

DirectAxis will review your credit profile and determine which accounts are eligible for consolidation on a case-by-case basis. Qualifying accounts usually include a range of loans (excluding home loans), credit cards, and retail accounts.

What do I need to apply for a consolidation loan?

A good credit record.

A regular monthly income of at least R5 000.

If you meet those criteria, then you’ll need to supply us with:

  • The details of your bank account into which your salary is paid.
  • Your last 3 months’ payslips or bank statements.
  • A clear copy of your ID document.
  • A recent document confirming your residential address.


  • DirectAxis

  • 24%


    of customers use loans for consolidation

  • 24%


    of customers use loans for renovations

  • 12%


    of customers use loans for education