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Product Guide: Better Life

Quick Personal Loan Overview

  • Minimum Loan Amount: R5,000
  • Maximum Loan Amount: R150,000
  • Minimum Length of the Loan: 24 Months
  • Maximum Length of the Loan: 72 Months
  • APR: 26%

BetterLife Personal Loans can help you with a loan of up to R150,000

BetterLife has partnered with DirectAxis to assist customers in obtaining a Personal Loan. This Value Added service will allow customers access to additional funding which may be required to secure their new home.

Who is DirectAxis?

DirectAxis is one of the largest financial lenders in South Africa and customers can be assured that they are dealing with a reputable company dedicated to responsible lending. DirectAxis is an authorised Financial Service Provider in terms of FAIS and the National Credit Regulator. DirectAxis is the market leader in Personal Loan delivery. Applications for personal loans are done over the phone, decisions are given within hours and funds are transferred immediately into customers’ accounts on take up.

BetterLife Personal Loan FAQ’s

What can I use my personal loan for?

Your personal loan can be used for any home-related or other expenses including:

  • Bond registration costs
  • Water and electricity deposits
  • Moving costs
  • Deposit shortfall
  • Transfer duty
  • Attorney’s fees
  • Any additional items to make your house a home
  • Other personal expenses
  • Are there any restrictions on what I use my personal loan for?

There are no restrictions on how you use your personal loan. The money is deposited directly into your bank account and you can use this money how you choose.

How do I apply for a personal loan?

If you are interested, please fill in your details on the online form. BetterLife will pass your details on to one of DirectAxis’s expert loan consultants, who will then give you a call to discuss your needs.

How much can I borrow?

Loans range from R4,000 to R150,000 in increments of R1,000. The amount you qualify for is based on your personal financial circumstances and subject to credit approval.

What are the repayment terms?

Repayment terms are between 2 and 6 years, and are FIXED for the full term of your loan.

What interest rates are offered?

Interest rates are based on your personal financial profile. Speak directly to one of DirectAxis’s expert loan consultants for information on the exact interest rates. DirectAxis is fully compliant with the National Credit Act of 2005 and is a responsible lender.

How quickly can I get my money?

Should you be able to provide all the required information when applying for your loan and your application is approved, you will get your cash in next to no time.

How do I receive the cash from my loan?

On approval and acceptance, loan proceeds are transferred directly into your bank account.

What do I need to apply for my personal loan?

  • You will need your ID Number and the details of the bank account into which your salary is paid.
  • You need clear credit references and a regular monthly income of at least R3,000.
  • You will need proof of residence and a clear copy of your SA Identity Document in terms of FICA and proof of income, even if you are self-employed.

Will my repayments change?

Repayments are fixed and will not change for the duration of your loan term.

Are there any penalties if I settle my loan early?

There are no penalties for early loan settlement.

Who provides my personal loan?

Personal loans are managed and administered by DirectAxis SA (Pty) Ltd, an authorised financial services provider with many years in the financial services industry.

Can I be refused a loan?

All requests are considered, but your final loan amount will be based on your personal financial profile and is subject to credit approval.

Do I have to provide collateral to secure my personal loan?

No, you do not. Personal loans are unsecured.

Can I choose how I make repayments?

For your convenience, your repayments will be deducted from the bank account into which your salary is paid by debit order each month.

How can I protect my family?

Every DirectAxis Loan includes a Personal Protection Plan, which settles your outstanding loan balance in the event of your death, permanent disability or certain dread diseases. It also provides limited cover in the event of temporary disability and should you be retrenched, a once-off payment equal to six instalments will be paid out to you. Of course, you’re free to substitute the plan with a policy of your choice, providing the cover offered is equivalent.

Can I take out a loan if I am not a South African citizen?

To qualify for a loan, you need a valid barcoded South African ID.

As a South African citizen, do I require a bank account to take out a loan?

To qualify for a loan, you must have a South African bank account.

Do I need permission from my spouse in order to take out a loan?

If you are married in Community of Property or in terms of customary or foreign law, you will require consent from your spouse to enter into any credit agreement.

Some Background on BetterLife

About the BetterLife Group

The BetterLife Group offers comprehensive financial solutions that include bond pre-approvals, home loans, short-term insurance, life insurance and more through its various subsidiaries, namely BetterLife, BetterLife Home Loans and MortgageMax.


The BetterLife mission is to help make the dream of owning a home a reality, while providing customers with awesome service at all times. They aim to exceed their customer’s expectations and make them love what BetterLife does for them. They strive to lead the home loan origination industry and help protect against the unexpected by providing innovative insurance products and services.

BetterLife employs great people who are passionate about everything they do and aspire to be better. People who are compassionate, who have humility and want to make a difference and reach out to those less fortunate. Always.


The BetterLife vision is to be the company that changes lives in Africa, making the dreams of customers and staff come true.


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