Rating based on 11 reviews

Sanlam Personal Loan

  • Personal loans up to R300,000
  • Low-interest starting from 18.55%
  • Repayment up to 6 years

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Sanlam homepage
Author Sanlam. Screenshot of Sanlam website.
[Accessed January 19, 2023]

About Sanlam

Trying to find a personal loan that suits your budget and allows you to choose terms that suit you?

Sanlam is the right lender for you. With over 100 years worth of experience in dealing with the financial needs of their clients, Sanlam offers you excellent service. Starting as an insurance company, Sanlam has grown and expanded its services. 

Personal loans with up to 72 months to pay

Personal loans can offer you more time to pay off a large loan amount. Sanlam's loan terms are between 24 and 72 months. The benefit is that your monthly installments will be smaller because they're stretched out over a longer loan term. For example, R 6,000 paid off over 2 years would be R 250, paid off over 4 years R 125.  

Unsecured loans accessible to all

Sanlam allows you to borrow up to R 300,000 with the minimum loan amount being R 5,000. That is what makes this online lender unique.

A personal loan from Sanlam is also an unsecured loan, which means only that they won't ask you to borrow money using your property or car as a guarantee that you'll pay back the loan.

You'll often see the term APR when you're reading through the information about loans. The Annual Percentage rate is a calculation of the fees and interest rate for a year. It's the percentage you need to pay attention to because it is the accurate calculation of your total fees.

Fees included in the APR are: 

  • Interest rate
  • Monthly administration fee
  • Initiation fee

Sanlam charges you a fixed interest rate of between 18.55% and 24.50%. The initiation fee will be around R69 a month. The installation fee is a fee they calculate as a percentage of your loan amount. It's a once-off fee that can be split up over the term of your loan.

Sanlam Services

Their beginnings rooted in life insurance, have also spread into the investment and financial services fields.

Here are a few of their noteworthy offerings: Sanlam offers you a wide range of services of which online personal loans are only one. Their beginnings rooted in life insurance, have also spread into the investment and financial services fields. 

Here are a few of their noteworthy offerings:

  • Will and Trusts: Sanlam will help you draw up a will, store it, and act as executor when the time comes.
  • Income Protection: This option pays you a monthly rate if you have to quit working because of illness or disability.
  • Education Planning: Save up for your children's education by investing in a unit trust with the help of Sanlam's financial planners.

You can also sign up to be a member of their loyalty program called Sanlam Reality.  As a member of Sanlam reality, you will not only be able to save money every time you swipe your card, but you may also receive coupons on some items.

However, the most impressive part of the offer is that if you pay your loan off diligently for the first 12 months, you may get back 20% of your payment.  Sanlam wants to reward its members for healthy spending and saving habits.  

Trust Sanlam to take care of you financially

They believe in responsible lending, and will not let you borrow more than you can afford to pay off.  They are willing to give you guidance and advice.  Their goal is to encourage and show you how to plan your finances so that you'll create a better financial future.

If you have been blacklisted, you may not be able to get a personal loan right off. Sanlam's financial planners will be able to give you advice on how to start improving your credit profile.

Improving your credit score can benefit you in many ways. Prospective employers may request your credit report to see how responsible you are and if you will be a liability.  Improve your credit score, and many doors may open for you.

Sanlam – Personal loan

  • Loan Type Personal loans
  • Interest Rate 18.5524.50% p/a
  • Loan Amount up to R300,000
  • Repayment 2 years to 6 years
  • Monthly Service R69

Benefits of Sanlam

  • Qualify for a personal loan up to R300,000
  • Fixed interest rates starting at 18.55%
  • Repayment terms up to 6 years

Personal loan calculator

The interest rate of a loan will vary based on your credit score and risk profile.
This personal loan calculator is for illustration purposes only.
The use of this loan calculator is subject to our terms of use.

Take out a person from Sanlam and get more than you expected!

Give Sanlam's financial planners a call to find out if you qualify for a personal loan. 

From there it's an easy online loan application, and you're good to go!

Sanlam's requirements are:

  • That you're over the age of majority (18+)
  • That you have South African citizenship
  • That you're employed and live in South Africa
  • That you have your spouse's consent (if you are married in a community of property)
  • That you can afford the repayments of a loan

Documents Sanlam will need to grant your loan request:

  • A copy of your ID
  • Your payslips for the last 90 days
  • Your most recent bank statements (also for the last 90 days)
  • Banking details for the account you'll be using both to receive and repay the loan

What you spend your personal loan on is up to you. You can use it to pay for a fishing trip to Zambia for your next family holiday! Or to pay off all your outstanding debts to clear up your credit score.

Use it to pay for your education, a wedding, or even a big birthday gift for a loved one - it's completely up to you. Sanlam financial planners are waiting for your call.

Take out a personal or short-term loan with the lender who takes your best interests to heart. Apply now and improve yourself and your future.

Customer Reviews & Testimonials

June 2020

I highly recommend the professional loan service from Sanlam.

Chris H
— Pretoria —

January 2020

I applied at Sanlam for a personal loan. The low-interest rate and friendly service surprised me.

Linda T
— Cape town —

October 2019

I will recommend Sanlam to my friends and family. The loans are affordable and the payouts happen fast.

Bongani U
— Greenpoint —

Sanlam Contact

Contact Number


  • not available


Physical Address

Opening Hours

  • Monday 08:00 – 17:00
  • Tuesday 08:00 – 17:00
  • Wednesday 08:00 – 17:00
  • Thursday 08:00 – 17:00
  • Friday 08:00 – 17:00
  • Saturday – Closed
  • Sunday – Closed