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COVID-19 Notice: Bayport’s services are still accessible. Bayport encourages you to process all your Bayport requirements online. You can apply, get updates and view statements via our online portal. Please register and login. You can also use our WhatsApp self service portal by sending a message to 087 240 5555. For more information click here

Bayport's Debt Consolidation Loan

Consolidate your debt into a single loan with one month payment and lower your interest rate

Take control of your financial wellness

Let us help you consolidate your debt into one affordable debt solution that will offer you immediate debt relief with a Bayport debt consolidation loan, by helping you become debt free faster while improving your overall financial wellness and credit score.

What are the benefits of debt consolidation?

  • Replace multiple loans by combining all your debts into a single debt management solution.
  • Save money with a single admin fee and reduced interest rates.
  • Simplify your finances with one monthly loan repayment making debt management easier.
  • Debt restructuring gives you peace of mind by immediately settling multiple smaller debts.
  • Immediate debt relief allows you to look forward to getting out of debt faster.
  • Improve your overall financial wellness by reducing your total debt repayment.
  • Maintain a healthy credit profile with one affordable loan.

Why choose Bayport to consolidate my debt

Online statements and payments
Free 24/7 Access to online statements

Easy access to online statements and to make secure payments

Mobile app 24-7 self-service
24/7 self-service on our mobile app

Dedicated and professional support via our Mobile App, Website or WhatsApp.

Credit health report
Get a free credit health report

Get access to a free credit health report each month

Your loan is insured
Your unsecured personal loan is insured

Your personal loan is insured in the event of death, disability or retrenchment.

Financial wellness benefits throughout your Bayport journey

We are committed to ensureing the financial wellness of our customers and we will provide you with financial literacy tools and free resources to guide you on your credit journey to reaching your financial goals from the moment that you begin your online application with us.

How to apply for a consolidation loan in 5 easy steps at Bayport

1 Register
2 Apply
3 Affordability
4 Approve
5 Receive

Step 1: Register and activate your free myBayport account

You will need to provide us with your contact details and create a password for your myBayport account. You will then receive an email to activate your account – once received, click the ‘activate account’ button and proceed to login.

Step 2: Login and apply

Once you login, you can start your online loan application by telling us a bit more about yourself, such as your income and expenditure details, your employment information and banking details. For faster response, please have your documents (listed below) ready for uploading.

Step 3: Affordability assessment

After you have upload your documents and have submitted your application, we verify the information provided with the credit bureau. We then check how much you qualify for based on your affordability.

Step 4: Sign your contract online

Once we grant you a loan offer, you will need to login and accept your loan offer and the terms and conditions online. We will email you a copy of your terms and conditions.

Step 5: Receive your personal loan

We disburse our personal loans in real-time, meaning, as soon as you accept your offer and your application passes final assessment, we will pay your funds into your bank account.

How does debt consolidation work

Debt Consolidation 101

Being over-indebted is probably one of the biggest hurdles on the road to financial fitness and once in bad debt many don’t how to get out of it. When it feels like you’re drowning in a sea of bad debt...

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Questions around debt consolidation

Get out of debt: How to improve your financial wellness

Debt affects more than our financial health; having financial issues can affect our physical and emotional wellbeing too...

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5 Reasons why you should consolidate your debt

In today’s world, bills seem to overrun us at every turn. We often find that we get into a situation where we can no longer control our debt and have to find a way to finally get our finances under control...

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How To Apply For A Consolidation Loan

Debt can run away with you if you don’t keep a tight rein on it. If you find yourself in a position where multiple loans are destroying your financial wellbeing and peace of mind, not to mention leaving you...

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More FAQ's about consolidating your debt

What is a debt consolidation loan?

Debt consolidation is the process of combining all your existing debt into one consolidated loan which provides many benefits to you as a consumer, such as a single loan repayment for all your existing debt loans at a reduced cost for an extended repayment period. Learn more

When is it a good idea to get a consolidation loan?

If you feel like you’re drowning in a sea of bad debt, a consolidation loan can be your rescue, provided that you are ready to become more responsible with your finances and commit to getting out of debt. Applying for a debt consolidation loan can see you living a debt-free life sooner than later, provided that you are committed to achieving a clear debt record and becoming more vigilant about your debt management. Learn more

What do you need to apply for a consolidation loan?

When applying for your debt consolidation loan online, you will need to provide us with a copy of your South African ID; Proof of residence not older than 3 months, latest payslip and last 3 month’s bank statements. You may also be required to provide us with a bit more information about yourself, such as your income and expenditure details and employment information. You will be required to upload these documents to complete your application. Apply now

Debt consolidation helps you simplify your finances by restructuring your debt into one monthly loan to offer immediate debt relief and peace of mind that you will be able to get out of debt faster, and maintain a healthy credit profile with one affordable and manageable loan. Learn more

Once you have selected the other loans that you wish to be settled, your online application will be assessed. Once your consolidation loan is approved, your other loans are settled by Bayport and the balance (if any) of the money will be deposited into your bank account.

Debt consolidation should be considered if your monthly debt repayment expenses are higher than what you can afford. Restructuring multiple loans into one monthly loan, you only have to worry about paying one monthly payment, often at a lower cost, with lower interest rates, and with the option to extend the repayment period; thereby offering you immediate relief by freeing up some of your cash monthly. Learn more

To be eligible to apply for a debt consolidation loan, you will need to prove permanent residence in South Africa, be permanently employed with a minimum income of at least R5,500 per month and have a good credit score with the credit bureau. Bayport also offers Employee Wellness Debt Consolidation solutions with preferential rates and terms. Learn more

Debt consolidation can affect your credit score in a positive or negative way depending on your behaviour. After successfully applying for debt consolidation loans; credit providers will consider your other accounts as being settled or paid in full, as all your debt is restructured into one single loan. This will have a positive effect on your credit score. Another way to improve your credit score in the long term is to ensure that make your consolidation loan repayments in a timely manner. Learn more

Apply for a Bayport debt consolidation loan

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