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Bank of Africa review

Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026

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Our verdict

Bank of Africa is a practical choice for Moroccan residents, students and customers wanting everyday banking, fixed savings and personal loans. Its student-focused Visa debit card has a monthly fee of MAD 25, while fixed-term deposits and consumer credit add useful options for saving and borrowing.

Key facts

Best for
Moroccan residents seeking everyday banking, fixed savings and personal credit.
Monthly fee
MAD 25↗
Card type
Debit↗
Card network
Visa↗
Legal entity
BMCE Bank of Africa↗
Headquarters
Morocco↗
Founded
1959↗
Support channels
Chat, Help-centre↗
Features
Multi-currency
Audience
Students
Official website
bankofafrica.ma

Loans

APR
6.25%↗
Loan amount
MAD 5,000 to MAD 500,000↗
Term
1 to 24 months↗
Arrangement fee
0 MAD↗
Representative example
Credit Daba consumer loan: for 100,000 DH you repay 60 monthly instalments of 1,948 DH excluding insurance, total due 116,880 DH, TEG 6.25%↗
Rate type
Fixed↗
Lender type
Direct lender↗
Free early repayment
Yes↗
Eligibility
Any resident in Morocco, customer or not; aimed at private-sector employees, civil servants and retirees↗
Loan types
Personal, Debt-consolidation↗
Use cases
Home-improvement↗
Pricing model
No monthly fee, Fixed rate

Personal insurance

Insurance types
Home, Travel, Health, Life, Income-protection↗
Provider type
Broker↗
Monthly payments
Yes↗
Cover limit
Sum assured from MAD 10,000 (Taamine Al Aazae death cover)↗
Age range
18 to 60 at subscription, cover until 65↗

Savings

Access terms
Deposit for 1-24 months, renewable; requires a dirham current account; early partial advance or full closure possible with a penalty rate on remuneration↗
Account kind
Fixed↗

Mortgages

Maximum loan to value
50%↗
Product fee
MAD 0↗
Purpose
Purchase↗

Facts checked September 26, 2026, 15 sources

Apps and profiles

Elsewhere
WikidataXLinkedInTrustpilotweb.facebook.comtwitter.comyoutube.cominstagram.comWikipedia

Pros and cons

Pros

  • The student debit card uses the Visa network and has a monthly fee of MAD 25.
  • The fixed-term deposit requires no monthly fee and pays a fixed rate.
  • Early partial withdrawal and full closure are possible, although a penalty rate applies.
  • Consumer loans include an origination fee of 0 MAD and an APR of 6.25%.

Cons

  • Fixed-term deposits require a dirham current account, and early withdrawal can reduce the return through a penalty rate.
  • Support is limited to the channels listed in chat and help centre.
  • The maximum mortgage loan to value is 50%, which may restrict borrowing for some purchases.
Bank of Africa

Ready to try Bank of Africa?

Scored 9.4 / 10 by SumCue.

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Who it suits

  • Moroccan residents seeking a Visa debit card for everyday spending.
  • Students looking for a bank account with straightforward card pricing.
  • People interested in fixed savings, consumer credit or home purchase lending.

Who should look elsewhere

  • Wise may suit people prioritising a lower listed account fee of £0.
  • Varo Believe Secured Credit Card may suit users prioritising a secured credit card over a Visa debit card.
  • bunq may suit people prioritising a listed monthly account fee of €0.

How Bank of Africa compares

Where Bank of Africa is available

Available
Morocco

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What type of bank card does Bank of Africa offer?+

Bank of Africa offers a student-focused debit card on the visa network. Its listed monthly fee is MAD 25. This makes it relevant for students and other Moroccan residents who want an everyday card linked to their banking.

What does a fixed-term deposit at Bank of Africa involve?+

The term runs for 1 to 24 and is renewable, with a fixed rate. A dirham current account is required. An early partial advance or full closure is possible, but a penalty rate on remuneration may apply.

Can I borrow from Bank of Africa for personal use?+

Bank of Africa is a direct lender offering personal loans and debt consolidation. Available borrowing runs from MAD 5,000 to MAD 500,000, with an APR of 6.25%. The consumer-loan origination fee is 0 MAD.

Who is eligible for a Bank of Africa consumer loan?+

Eligibility extends to residents in Morocco whether they are customers or not. The loan is aimed at private-sector employees, civil servants and retirees. It can support personal needs, debt consolidation and home improvement.

Does Bank of Africa offer insurance alongside its financial products?+

Bank of Africa acts as a broker for protection products covering home, travel and health. Monthly payments are available. Optional insurance is also referenced in the consumer-loan representative example, so its cost and role should be considered separately.

Can I repay a Bank of Africa loan early?+

Free early repayment is available. Personal loans and debt consolidation are supported, and the consumer-loan APR is 6.25%. For a fixed-term deposit, early closure is also possible, but it may trigger a penalty rate on remuneration.

Sources

Compiled from 15 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Currency conversion fee, Free ATM withdrawals, Protection.

Bank of Africa

Bank of Africa

Moroccan residents seeking everyday banking, fixed savings and personal credit.

9.4/10See alternatives