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Q

I have an existing personal loan. Can GovLoans assist me with second loan?


A

You are welcome to apply for a second personal loan if you have a loan with one another financial institution.

We do however caution against becoming over committed and failing to meet all your financial obligations.


Personal loan affordability

Our Credit department will check your credit history to see whether you can afford the repayments on a second loan. In South Africa the National Credit Act safeguards financial consumers against becoming over committed, and as a financial service provider we are obligated to operate accordingly.

Consolidating your existing Personal loan may be another option. Ask one of our consultants to assist you in making an informed decision.

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