Product Guides

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Quick Personal Loan Overview

  • Minimum Loan Amount: R3,000
  • Maximum Loan Amount: R250,000
  • Minimum Length of the Loan: 12 Months
  • Maximum Length of the Loan: 84 Months
  • APR: 32%

Quick Student Loan Overview

  • Minimum Loan Amount: R3,000
  • Maximum Loan Amount: R150,000
  • Length of the Loan: 12 Months
  • Repayment Length of the Loan: 12 Months
  • APR: 9,25%

Life happens when you least expect it – be ready with a Personal Loan from Absa.

Whether you want to give your lifestyle a boost or you have an unexpected expense to deal with, a Personal Loan from Absa is a cost-effective way of dealing with it.

Absa Personal Loans are flexible. This means you can borrow amounts from R3 000 and up with affordable repayment periods that range from 12 to 72 months*.

What you get with an approved Personal Loan from Absa:

  • Immediate access to your funds after approval.
  • Competitive interest rates.
  • Flexible repayment terms.
  • The ability to pay off your loan faster (extra payments reduce the capital amount of the loan).
  • Easy approval if you require additional funds.
  • An affordable Credit Protection Plan to settle the outstanding balance if you die, become permanently disabled or are diagnosed with a dreaded disease. A monthly amount equal to your instalment amount will be paid for a limited period if you are retrenched or temporarily disabled. (Optional)

How to apply

Applying for a personal loan is quick and easy!

If you are an existing Absa customer, all you need to do is log-on to Absa Online. You will then proceed to click on ‘Apply’ at the top tabbed navigation, and select ‘Personal Loan’ from the menu that appears on the page.

You will enter your requirements, and as simply as that, you could have the money in your account in less than 10 minutes! Remember, no collateral is needed to apply for your personal loan as your application will be based on your creditworthiness.

If you are registered for Absa Online, you may see a provisional loan amount on the main accounts page. If you are a new Absa customer, all you need to do is apply online, complete the quick and easy form, or visit your nearest branch.

Absa Student Loans

Not sure how you are going to pay your tuition fees and buy all the textbooks you need?

Absa customers have the opportunity to take out study loansso that they can finance their own studies or those of their loved ones.

An Absa Study loan offers you

  • Financing of SETA and SAQA courses, textbooks, accommodation and equipment fees.
  • Lending at Prime Rate + 1.8% interest rates.
  • Absa Study loans are offered at Absa Student Bureaus situated in SA’s leading tertiary institutions, the Absa Sales Contact Centre and selected Absa Branches throughout South Africa.
  • Numerous launches take place during the year to make students aware of Absa’s great study loan benefits, which includes some great giveaways!

Qualifying criteria for a student loan application

  • A customer needs to earn a monthly income of minimum R3000 per month.
  • A customer will be approved based on their affordability and risk.
  • Proof of income from the person undertaking the study loan is required.
  • Proof of study in the form of a final letter of acceptance or proof of registration from the institution and proof of course costs for the year of study is required.

Benefits

  • A customer will pay the Prime + 1.8% on their study loan.
  • A customer is offered a 15% discount on study equipment when they apply for a study loan.
  • The study loan forms part of the Student Package, which includes a student credit card and a cheque account. You will also have access to PC Package from Absa*
  • Access to an Absa Credit Protection Plan which covers the outstanding amount of the study loan in events of disability, retrenchment, diagnoses of a dreaded disease or loss of life.

*Note added by Fincheck as read upon Absa website.


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Quick Loan Overview:

  • Maximum term of loan: 60 Months.
  • Annual Percentage Rate: Prime up to 34,85%.

Whether you want to improve your lifestyle or have an expense to pay a personal loan form Iemas can help you.

Features:

  • Your qualifying loan amount is dependent on your individual profile, income, expenditure and credit profile.
  • Unsecured and secured loan options are available.
  • Members provide security for secured loans such as investments which are ceded, life policies with a cash or surrender value equal or more than the loan amount.
  • The maximum repayment term is 60 months.

Benefits:

  • Competitive interest rates and you receive an annual member benefit on the interest you pay.
  • Salary deductions save on debit order costs through a bank.

What do I need to apply?

  • ID or a certified copy of your ID.
  • Three latest pay-slips.
  • One month’s bank statement.
  • Proof of residential address.
  • Affordability assessment.

FAQ’s:

Q: What does the credit life insurance cover on my loan product?
A: In the case of death or when you are declared 100% medically unfit to work, this policy will settle the outstanding balance of your loan. This policy does not provide cover for retrenchment.

Q: How does Iemas calculate interest?

A: Interest is calculated daily on the outstanding balance as at the beginning of the month plus the previous day’s interest.

Synopsis on Iemas:

Iemas is South Africa’s largest co-operative that offers financial services to members employed by Employer Groups who have a signed agreement with Iemas. Iemas is also a brokerage that offers short-term insurance to general public.

Iemas provides affordable and competitive financial solutions to their members across South Africa. As a caring partner, Iemas advises and supports their members to ensure that they receive quality product services suited to their individual needs.

A co-operative is member-owned. This means that Iemas is not about making big profits for shareholders but rather creating value for their members. This is what gives Iemas a unique character and influences their core values.

With a history of spanning over more than seventy-five years, Iemas has solid experience in the financial services industry. The vision that Iemas is working towards is to become the most preferred co-operative in South Africa that offers financial services.

Range of products include:

  • Vehicle Finance.
  • Purchase Card.
  • Mini, Maxi and Personal Loans.
  • Emergency Loans.
  • Educational Loan – GradUcare.
  • Educational, Retirement and Savings Plans.
  • Pension-backed Home Loans.
  • Short-term Insurance.
  • Funeral Policies.
  • Life Cover and Accident Cover.
  • Estate Planning and Wills.

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Quick Personal Loans Overview

  • Minimum Loan Amount: R1,000
  • Maximum Loan Amount: R40,000
  • Maximum Length of the Loan: 9 Months
  • Minimum Length of the Loan: 60 Months

Flexible Loans, on your terms with Izwe Loans

If you need a Loan, Izwe Loans believes it's easier than you think. They offer various forms of personal loans ranging from R1,000 to R40,000 with loan repayment terms ranging from 9 to 60 Months.

Let's have a look at the various personal loans from Izwe Loans and the processes involved.

Personal Loans (broken down into categories below after How it Works)

Izwe Loans offers purpose based personal loans to suit your personalized needs, with affordable monthly payments.

Whether you need funds to build or renovate your dream home, pay for your child’s education or you need to consolidate your current debt  for any unforeseen expenditure. Izwe Loans offers personal loans with terms ranging from 9 months – 60 months (5 years) and from R1 000 to R50 000.

How it Works

What do I need in order to apply for a Personal Loan?

  • Valid SA ID or driver’s licence.
  • Your most recent payslip.
  • 3 months bank statements.

Building Loans

We all have dreams of how our future home will look or have an idea in our head of how our homes can be improved. There is nothing more frustrating than having to wait to be able to afford these dreams.

Whether you have changes you are currently trying to pay off or ideas about what you will do in the future, an Izwe Loans building loan can help you with the finances needed.

Student Loans

Are you stressed about paying off your child’s school fees?  Do you need help paying for your child’s tertiary education or even registration to secure them a different future?

We are all aware that school and tertiary education comes with a high price tag. Education is vital if we want our children to succeed in life. Children need to attend school and a tertiary institution in order to grow into mature and intelligent adults. This places a lot of pressure on ourselves in everyday life to ensure our children’s future education or potential growth.

Izwe Loans’ Student Loans allow you to pay off your child’s education over a period of time that is tailor made to your personal circumstances. This can be done over as little as 9 months or as long as 60 months, depending on your financial situation.

Debt Consolidation Loans

Do you sometimes wish that you could combine all your debt under one roof? Are you tired of having a never ending list of people or companies you owe money to every month?

If you are having difficulty repaying several loans, you should consider a consolidation loan. You may be more familiar with the term “debt consolidation loans”. It allows you to take multiple outstanding debts and consolidate them into a single, more manageable loan. In other words, you will take out one new loan and use that loan to pay off all your other debts.

What does this mean?

A consolidation loan will;

  • Give you the security of a fixed-rate loan;
  • Lower your monthly payments;
  • Help you obtain a lower-interest-rate loan.

General Loan

Want to spoil yourself? Need a gift for someone special or need money for an unforeseen circumstance?

Izwe Loans gives you the freedom to spend your money however you feel fit. Whether you need the money to assist you with an unforeseen life event or even a well-deserved vacation , Izwe Loans grants you the freedom of choice to do what you want with your money.

They offer general loans ranging from R1,000 up to R50,000 and terms ranging from 9 to 60 months.

Some Background on Izwe Loans

Mission

Izwe Loans enables people to enrich their lives by providing them with ready access to useful financial solutions.

Izwe Loans (Pty) Ltd is a specialist finance company targeting the formally employed market with an unsecured term-loan offering. The company has grown into a dynamic, rapidly developing pan-African micro-finance organisation with operations in South Africa, Zambia, Ghana and Kenya.

Izwe Loans (Pty) Ltd was established in South Africa in 2004 opening its first branch in Pretoria, Gauteng. Since then, there has been a steady and managed progression of branch openings. Izwe Loans is now represented by 18 branches nationwide.

In Zambia, Ghana and Kenya, the businesses are managed by experienced local management teams, with effective central support from South Africa.

Izwe Loans operates as a registered micro-financier and makes unsecured loans which currently do not exceed R50,000 with tenors up to 60 months. Izwe Loans has disbursed over R1 billion to date to over 150,000 customers.

REGULATORS

  • National Credit Regulator (NCR)
  • Financial Services Board (FSB)

LEGISLATION

  • National Credit Act (NCA) promulgated in June 2006
  • Long Term and Short Term Insurance Act

Investor Relations

Established in 2004, Izwe Loans is a specialist Financial Services Company offering unsecured term loans to the formally employed but under-banked market.

In just under ten years Izwe Loans has established itself as a pre-eminent Pan African Financial Services Player. Izwe Loans operates through subsidiary companies, with 18 branches in South Africa, 9 branches in Zambia, 6 in Ghana and 12 in Kenya. The Company has developed a strong agent distribution network in all the countries of operation, with particular penetration into the rural areas. To complement the agent channel, Izwe Loans commenced a digitally-based distribution business in January 2012.

Izwe Loans is managed by a team of highly experienced South African micro finance professionals from its Johannesburg head office on much the same principles as the formal banking sector. In Zambia, Ghana and Kenya, the businesses are managed by experienced local management teams, with effective central support from the South African team. Credit is provided through electronic banking channels to salaried employees with stable monthly incomes.

Through online credit scoring models and an integrated debtor management system, Izwe Loans considers itself as an industry leader in application turnaround, often achieving same day pay-out. As part of their risk mitigation in Zambia, Ghana and Kenya, Izwe Loans only takes on loans where repayment can be routed through salary deductions, significantly reducing counter-party risk.

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Quick Personal Loan Overview

  • Minimum Loan Amount: R10,000
  • Maximum Loan Amount: R250,000
  • Maximum Length of the Loan: 72 Months
  • Minimum Length of the Loan: 72 Months
  • APR: 32%

Get a loan against your assets with Lamna

Do you want to increase your liquidity with a discreet, short term loan against assets?

This could be your solution.

The Lamna consultants assist high net-worth individuals in obtaining short-term loans against their valuables. This includes luxury motor vehicles, fine art and jewellery. Your asset value basically determines your loan amount.

Lamna's experienced team of financial advisors, chartered accountants, lawyers and trained appraisers will process your short term loan promptly and with discretion. They are fully compliant with the National Credit Act and focused on providing you with cost-effective financing solutions through excellent service.

Interest is payable monthly and the short-term loan is repayable at the end of the agreed loan term. Once the interest and loan have been repaid, Lamna will return your valuables in the same condition as when they arrived.

To sum it up

So, simply complete and submit the online application form, providing as much detail as possible about the item(s) you want to use as collateral for a loan. Once you’ve done this, Lamna will contact you and arrange a convenient time to appraise the asset, conclude a loan agreement and transfer funds to you.

Some Background on Lamna and their Team

Lamna is a specialty finance company with particular focus on short-term asset backed transactions for high net worth individuals. They are dedicated to understanding the individual credit needs of their clients, and providing consumers with innovative and cost effective financing solutions. Lamna is fully compliant with the National Credit Act. Their clients can be confident of receiving competitive short term loans and the best available service while being protected by the lending and credit laws of South Africa.

The Lamna team comprises of: financial advisors, chartered accountants, lawyers and trained appraisers. All management and staff have been trained to understand and comply with the National Credit Act so Lamna clients can be assured of receiving the best service at the most competitive cost.

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Quick Long Term Personal Loan Overview

  • Minimum Loan Amount: R1,000
  • Maximum Loan Amount: R100,000
  • Minimum Length of the Loan: 13
  • Maximum Length of the Loan: 36 Months
  • APR: 32%

Quick Short Term Personal Loan Overview

  • Minimum Loan Amount: R500
  • Maximum Loan Amount: R8000
  • Minimum Length of the Loan: 2 Months
  • Maximum Length of the Loan: 6 Months
  • APR: ?

Quick Pay Day Loan Overview

  • Maximum Loan Amount: R8,000
  • Repayment Length of the Loan: 1 Month
  • APR: ?

Quick Debt Consolidation Loan Overview

  • Maximum Loan Amount: R100,000
  • Minimum Length of the Loan: 1 Month
  • Maximum Length of the Loan: 36 Months

Long Term Personal Loan with Letsatsi

Realize your goals with our long term loans

Planning that dream wedding or extending your home are plans for your future, and Letsatsi offers long-term loans to finance them without worry. Whatever the purpose of the loan, they have 3 long term payment options to help you realize those dreams any day that you need it.

Long Term loans

  • Loans from R1,000 up to R100,000
  • Choose either 13, 24 or 36 months payment terms

What do you need to apply?

  • Original ID book
  • 2 months payslips
  • 3 months bank statements

Why consider Letsatsi?

  • They have professional staff to advise you
  • They strive for same day payout

What can I use it for?

  • College or University fees
  • Weddings
  • Home improvements or renovations
  • Medical bills

Short Term Personal Loans

Letsatsi short term loans are the perfect solution to unexpected expenses.

Ever been in a situation where something breaks that you didn’t plan for? You may suddenly need a new clutch for the car, or fix the refrigerator, or perhaps you want to plan a little get away for your anniversary? Letsatsi short term loans are the perfect solution.

Short Term Personal Loans

  • Choose between 2 and 6 months payment terms
  • Loans from R500 and up to R8,000

What do you need to apply?

  • Original ID book
  • 2 months payslips
  • 3 months bank statements

Why consider Letsatsi?

  • Get approval within 1 hour
  • You can have more than 1 loan at a time should the need occur
  • They strive for same day payout

What can I use it for?

  • Education or School fees
  • Medical bills
  • Repairs
  • Family vacations
  • Unexpected expenses

Pay Day Loan

If you need a small or medium amount of money in a hurry then pay day loans are available. You will have the money paid to you now and the loan will come off your next salary.

  • Loans up to R8 000
  • 1-month repayment

Debt Consolidation

Repay all your expenses with a debt consolidation loan.

Not looking forward to the end of the month because of those piles of bills in the mailbox? You now have the option to repay all your expenses such as personal loans, store cards and credit cards under one consolidated loan.

Letsatsi offers you debt consolidation with loans of up to R100,000 and up to 36 months to repay – a convenient solution with one monthly instalment for your multiple loans.

The benefits of debt consolidation include:

  • 1 monthly instalment
  • Loans up to R100,000
  • 1 to 36 months repayment period
  • The convenience of servicing only 1 loan as opposed to many loans at once. (personal loans, store cards, credit cards)

What do you need to apply?

  • Original ID book
  • 2 months payslips
  • 3 months bank statements
  • Settlement letters

When to apply?

  • In arrears with your accounts
  • Listed at the credit bureau
  • Battling to manage loans and debts

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[collapse title="Low Budget Loans"]

Quick Personal Loan Overview

  • Minimum Loan Amount: R500
  • Maximum Loan Amount: R3,000
  • Minimum Length of the Loan: 1 Months
  • Maximum Length of the Loan: 3 Months
  • APR: 60%

Low Budget Loans

Get a loan that ranges from R500 to R3,000 with repayments options from 1 to 3 months. Plus, cellphone airtime on credit as a value-added service to existing clients.

Some Background on Low Budget Loans

Low Budget Loans was established in 2004 by a group of bank managers who had a better understanding of how to provide faster / better / easier short term credit to the middle to higher income salary earner. They rapidly became the Service Provider of choice by providing exactly this.

Low Budget Loans follows the trend that technology should provide services to all South Africans, and that the traditional footprint of offices nationwide became redundant. Low Budget Loans focuses on centralization by dealing only electronically in each transaction. This enables them to offer their services to all South Africans nationwide.

Loan Budget Loans is committed to:

  • Responsible lending
  • Transparency
  • Complying with the rules and regulations as prescribed by the National Credit Regulator (NCR) and other regulatory bodies
  • Providing an excellent service and building a long-term relationship with our clients.

It is the mission of Low Budget Loans to solve the short-term and urgent cash flow problems of their clients with an equally short term and responsible solution.

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[collapse title="Mafori"]

Quick Personal Loan Overview

  • Maximum Loan Amount: R10,000

Get a Personal Loan Up To R10,000.

Enjoy benefits like:

  • Personal Loans up to R10,000.
  • Educational Loans up to R15,000.
  • Emergency Loans up to R7,500.
  • Approval and Payout within 24 Hours.

Apply for a Personal Loan on the Mafori Finance website, or contact them for more information.

Who is Mafori Finance?

Mafori Group of Companies (“MGC”) was founded in 1998 as an Integrated Financial Services platform targeted at the South African population excluded (or under-serviced) by the currently available financial services industry of South Africa. The Group use partnerships, collaborations, educative engagements and accessible virtual spaces to achieve its mission. They actively engage the public and maximize the use of their employees’ talents and potential as well as organizational acumen.

Vision

Humane Banking for All.

Mission

To broaden access to quality and socially responsible banking.

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Student Loans for university students

NSFAS assists students who have the academic potential to succeed at university and who qualify in terms of the NSFAS Means Test for financial aid.

What is a Student Loan from NSFAS?

A student loan is the money you borrow from NSFAS to cover the costs of your studies at any of the 25 public universities in South Africa. The costs include tuition fees, residence or private accommodation costs, food, books and travel. This loan must be repaid to NSFAS when you have finished studying. Depending on your results, up to 40% of your NSFAS study loan may be converted into a bursary and you do not need to repay that amount.

NSFAS has very reasonable repayment terms, which are based on what you earn after you leave university. All loans that are repaid are used to fund other students who also need financial assistance. NSFAS gives loans to students without the need for guarantees or sureties from parents or guardians.

SBUX

NSFAS has introduced a new system called sBux to pay students for food, accommodation, books and travel allowances.

What documents do I need when I apply?

When you apply for a NSFAS student loan, you must attach all the documents listed below:

  • Grade 12 Certificate.
  • South African Identity Document.
  • Proof of parent’s income.
  • Proof of registration at school, college or university of brothers and sisters who live in the same household.
  • Proof of registration can be obtained at the institutions where your brothers and sisters are registered at.
  • Certified copies of their Birth Certificates and their Identity Documents.
  • If you have a permanent disability, a letter from your doctor to confirm proof of disability.
  • Letter of acceptance from the public university or college where you have applied to study.

How do I repay the student loan?

NSFAS student loans are income-contingent. This means that repayment starts only when you have an income, usually when you start working. NSFAS will send you statements showing how much you owe and how much you must pay back each month.

It is your legal responsibility to keep in touch with NSFAS and to inform them of any change of address.

How are repayments calculated?

NSFAS has made repayments affordable for you. Repayments of your student loan are based on the salary that you earn, and start once your salary is R30 000 or more per year.

Payments start at 3% of your annual salary, increasing to a maximum of 8% when your salary reaches R59 300 or more per year. For example, this means you will pay back R900 a year on a salary of R30 000 a year, or R84 per month.

When your salary is R59 300 you will pay back R4 744 a year or R696 a month. NSFAS charges lower interest rates than banks. Interest is charged at 80% of the repo rate, which is the repurchase rate at which the Reserve Bank lends to commercial banks. NSFAS will continue to charge interest on all outstanding balances. It is therefore very important to start repaying your loan as soon as possible.

How will I repay the loan if I am unemployed or still studying?

You do not have to repay if you are unemployed or still studying, but you do have to provide written proof (in the form of an affidavit, valid for 3 months) to say that you are unemployed.

Please stay in contact with NSFAS and make sure that information such as your employment status and your personal details, including address and cellphone numbers, are up to date.

Does NSFAS pay registration costs for first-year and returning students?

Yes, but only for students where the Expected Family Contribution is 0 on the Means Test.

How is part of a NSFAS loan converted into a bursary that does not have to be repaid?

Up to 40% of your student loan may be converted into a bursary and does not have to be repaid, depending on your year-end results. NSFAS checks these results with the university at the end of every year of study.

Final Year Programme

Students in their final year of study, who will qualify to graduate at the end of the year, are eligible to be funded through the Final Year Programme. This is a special funding programme which was launched by the President in 2011. If you graduate in your final year, the loan is converted to a 100% bursary.  Students can only benefit from the Final Year Programme one time.

How do these bursary conversions show on NSFAS accounts?

Bursary rebates and your credit balance appear on your statement when NSFAS receives your academic results and refunds from the university. This takes place at the end of the NSFAS financial year in April.

Your academic results are used to calculate any bursary rebates: for example, 40% of your student loan will be converted into a bursary if you pass all courses; if you pass half of your courses, then 20% of the student loan will be converted into a bursary. If you don't pass any courses, you will not receive any bursary rebate for that academic year and you will have to repay 100% of your student loan.

What happens to any money left over from my NSFAS student loan?

Money left over from a NSFAS study loan is never paid out to you. The money is deducted from the balance you owe. You will not have to pay interest on it, and NSFAS will have more funds to help other students like you. Funds paid back to NSFAS are used as your first repayment of your student loan.

Some Background on NSFAS

To transform NSFAS into an efficient and effective provider of financial aid to students from poor and working class families in a sustainable manner that promotes access to, and success in, higher and further education and training in pursuit of South Africa’s national and human resource development goals.

The mission statement is made up of three distinct elements which describe why NSFAS exists, what they do, and the impact on their constituency:

  1. NSFAS exists to provide financial aid to eligible students at public TVET colleges and public universities.
  2. NSFAS identifies eligible students, provides loans and bursaries and collects student loan repayments to replenish the funds available for future generations of students.
  3. NSFAS supports access to, and success in, higher education and training for students from poor and working class families who would otherwise not be able to afford to study.

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[collapse title="Opportunity Finance"]

Quick Personal Loan Overview

  • Maximum Loan Amount: R80,000
  • Maximum Length of the Loan: 48 Months
  • APR: 32%

Quick Business Loan Overview

  • Minimum Loan Amount: R1,000
  • Maximum Loan Amount: R150,000
  • Minimum Length of the Loan: 4 Months
  • Maximum Length of the Loan: 24 Months
  • APR: 60%

Opportunity Finance offers Loans for Lifestyle and Business

Opportunity Finance offers personal loans that cover the typical unexpected costs of life, to cater for needs like debt consolidation and upgrading your life, or to finance your Business.

Product Details of Lifestyle Finance:

  • Get up to R80,000 and repay in up to 48 months
  • Weekly, fortnightly and monthly repayment options
  • Repay by debit order or cash if you don’t have a bank account
  • Competitive interest between 21%-32% per annum
  • Get the funds in cash, in your account or paid to a third party, or even a combination of all 3!

What you will need to apply for a Personal Loan for Lifestyle Finance:

  • Your South African ID Book
  • A Copy of your Latest Payslip
  • A Copy of your Latest Bank Statement

Product Details of Business Finance

Opportunity Finance has also gone to great lengths to make sure they understand up and coming business' owners needs. They understand:

  • The NECESSITY for a small business to have access to flexible working capital.
  • The IMPORTANCE for  a small business to invest in assets such as machinery, equipment and vehicles.
  • The FRUSTRATION for small business owners of not being able to access finance due to lack of sufficient formal documentation.

Benefits to small and medium businesses:

  • Loan amounts range from R1,000 – R150,000 to meet working capital needs and finance the purchase of assets such as machinery and equipment, and business and home improvement.
  • Flexible loan repayment terms from 4 months to 24 months, with instalments payable weekly, fortnightly or monthly.
  • Competitive interest rates ranging from 23% to 60% per annum.
  • Loans can be paid into your existing bank account, with a pre-paid debit card or to the supplier from which you are purchasing.
  • Sole proprietors DO NOT need formal financial records (income statement and balance sheet) although it would be advantageous if you have these.
  • No need to have a bank account.
  • For loans of more than R150,000 Opportunity Finance does require collateral.

What do you need to apply for a Business Loan?

  • Must have been in business for 1 year.
  • Your green SA ID book.
  • Sole proprietors (i.e. where you own and run the business) Opportunity Finance would like to see the following documents:
    • Slips, invoices, receipts of purchases and sales for the last 3 months (if this is available).
    • A bank statement for the last 90 days (if you have a bank account).
    • Proof of residence (FICA document).
  • For close corporations Opportunity Finance requires:
    • CK1 and/or CK2 documents
    • Business Registration Number
    • ID number and names of members
    • Most recent financial statements
    • Proof of income and expenses
    • Bank statement for the last 90 days
    • Resolution from members, authorising the loan application with Opportunity Finance
  • For registered companies Opportunity Finance requires:
    • Company documents which include:
      • Founding statements, Articles of association, CM1, CM2, CM5, CM9, CM20, CM29
    • Most recent audited financial statements
    • Management accounts for the last 6 months
    • Bank statement for the last 180 days
    • Resolution authorising the nominated representative to apply for the loan
    • List of shareholders and their shareholding in the company
    • ID Number and names of Company Directors

How it will Work with Business Financing

  • Step 1 - Make an inquiry online, by phoning the Opportunity Finance national call centre or contacting one of their business development officers.
  • Step 2 - One of the Opportunity Finance business development officers will contact you and set up an appointment to meet you.
  • Step 3 - All the necessary financial and application information will be processed.
  • Step 4 - If Opportunity Finance has all the information that they require from you, they can approve and pay out the loan within 12 business days!

Some Background on Opportunity Finance

Opportunity Finance is part of Opportunity International, a global organization established by a group of dedicated Christians more than 30 years ago. Opportunity Finance is committed to providing affordable, transparent and relevant financial services that make a real difference in the lives of those who do not have easy access to financial services.

Vision

To become a sustainable and well-known household name that offers consistent, professional, accessible, timely and relevant financial services to small businesses and the formally employed.

Mission

In achieving its vision, it is important for Opportunity Finance to:

  • Be financially sustainable while still providing financial services to their clients that are fairly priced and in line with banking industry norms.
  • Build bank-like trust and focus on service excellence and professionalism.
  • Offer financial products and services to their client base that are simple to understand, have transparent pricing, that are accessible and relevant and that foster economic development.
  • Focus on building a culture of respect, transparency, honesty, and integrity in all that it does.

As part of a global network, they are dedicated to making a real difference in the lives of their clients and are committed to providing affordable, transparent and relevant financial products to those that do not have easy access to financial services.

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[collapse title="Paragon"]

Quick Personal Loan Overview

  • Minimum Loan Amount: R100,00
  • Maximum Loan Amount: No Limit
  • Minimum Length of the Loan: 1 Months
  • Maximum Length of the Loan: 12 Months
  • APR: 32%

Get a Secured Personal Loan from Paragon Lending Solutions, no limit on funds, with a repayment maximum of 12 months.

What is Paragon Lending Solutions About?

Paragon is a private lending company that specializes in providing short-term secured asset-backed finance throughout South Africa to clients who do not meet commercial banks' credit criteria.

Their products are designed to afford clients the ‘breathing space’ to realize their assets without pressure or to secure long-term financing from a commercial bank once all the bank’s lending criteria have been fulfilled.

Paragon offers:

  • Innovative financing solutions for time-sensitive transactions throughout South Africa.
  • Funding for property purchases, working capital or other transactions.
  • Funding for clients who cannot secure loans from commercial banks.
  • Funding for developers to unlock the value in their properties.
  • Funding where there are no hidden costs and fees.

Paragon does not compete with banks in that:

  • It lends to clients who fall outside of the banks' lending criteria.
  • It subscribes to the principles of secured asset-backed lending.
  • It is a short-term lender secured by property.

Paragon advances funds:

  • Against security of first bonds over commercial and residential property.
  • For a maximum period of 12 months.
  • Where interest is serviced monthly and capital is repaid at the end of the period.

Paragon is a principal lender which has:

  • Its funding in place and a genuine appetite to lend.
  • The expertise in understanding the value and potential of fixed property.
  • A focus of improving its clients' financial position
  • The track record, operational systems, and people to be the leading credible non-bank lender in South Africa.
  • Paragon focuses on providing innovative financing where speed, reliability and attention to special circumstances are critical.

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[collapse title="Quick Rands"]

Quick Personal Loan Overview

  • Minimum Loan Amount: R500
  • Maximum Loan Amount: R50,000

QuickRands Personal Loan Application

The quickest and easiest way to get personal loan funds that range from R500 to R50,000.

3 Easy Steps to a loan with QuickRands:

  • Select the amount you want
  • Fill out your details
  • Receive your loan

Why choose QuickRands

  • Quick and Hassle Free
  • Safe, Secure and Private
  • Customized Loan Solutions

What does QuickRands Offer?

  • They source the best loan specifically for your needs.
  • They compare loan offers from a number of credit providers to bring you the best loan for your credit rating and earnings level.
  • There is no additional cost to you by going through QuickRands – their service is 100% free.
  • They find the loan for you at the best interest rate and the one that will get you the cash quickest.
  • They do all the paperwork for you, so you can sit back and relax.
  • They chase the credit provider all day, every day, to get your loan to you. They act as your personal loan assistant.
  • They process your application within 24 hours.
  • All information processed is kept private and confidential and is transmitted securely and safely.

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[collapse title="RainFin"]

Get a Personal or Business Loan with RainFin

For Personal Loans, you can expect

  • Paperless And Fast Application
  • 100% Transparent Fee Structure
  • Low Fee's And Flexible Interest Rates
  • Free Credit Advice To Improve Your Profile

For Business Loans, you can expect

  • No Security Required
  • Flexible Financial Assessment
  • Affordable Interest Rates And
  • Low Fee's
  • Fast Application And Assessment Process

RainFin has built their business through Marketplace Lending and Borrowing. They challenge the traditional one institution, many borrowers, low transparency and high margins with many lenders, many borrowers, high transparency, and profit sharing.

Some Background on RainFin

People Empowering People

RainFin's lending marketplace is an alternative way to borrow or lend money. Their online marketplace directly connects borrowers and lenders, allowing for a smarter, more efficient form of financial interaction.

RainFin's online marketplace ensures an alternative finance mechanism for consumers, giving the power back to each and every one of us. It's a more personal, powerful and poignant form of lending and borrowing.

How Marketplace Lending Works

Marketplace Lending exemplifies exactly that sense of concern for the fellow man. By taking financial control of the South African future, RainFin is able to help others embrace their passions and financially succeed. RainFin lets everyday South Africans lend to each other while enjoying lower fees and better interest rates.

RainFin has created a safe, quick and transparent environment in which borrowers and lenders can interact. Their unique community works together to ensure both sides see a positive return on their financial needs.

How Long Does It Take?

Once submitted, your loan application normally gets reviewed within a few hours. To streamline the loan process, ensure you provide the most accurate information possible. Once your loan reaches 40% of its value you will be able to cash out immediately.

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[collapse title="RCS Loans"]

Quick Personal Loan Overview

  • Minimum Loan Amount: R1,000
  • Maximum Loan Amount: R125,000
  • Minimum Length of the Loan: 12 Months
  • Maximum Length of the Loan: 60 Months

If you're looking for a loan - RCS is there for you

If you're looking for extra cash, for whatever you need, you can trust RCS to make it possible. What you can expect:

  • Pre-qualification in seconds
  • A paperless process with no queues
  • Instant cash loan of up to
  • R125 000
  • Cash deposited within 24hrs
  • Competitive rates offered
  • Flexibility: 12-60 months to pay

You can apply for a loan with RCS through filling out their online loan application form. If you'd like to learn a bit more on how it works for you to be able to apply for an RCS Loan. Here's a handy list of criteria which you'll need to qualify for as well:

  • You must be 18 years old and older
  • You must have a South African ID
  • You must earn a minimum of R2000 a month
  • You must have a good credit record
  • You must hold a bank account
  • You must have your latest 3 months bank statements or 3 months’ salary slips

Some Background on RCS

The RCS Group (RCS) is a consumer finance business that offers its customers a range of financial services products under its own brand name and in association with a number of retailers in South Africa, Namibia and Botswana. The two primary business areas are Cards and Loans. The Cards Business provides convenient payment facilities to consumers, whilst the Loans Business offers consumers personal cash loans of up to R100,000 - whatever their immediate needs.

The core purpose of RCS is to enhance people's lifestyles and protect their financial security through innovative, desirable and accessible credit solutions. The idea is to enable RCS customers to enjoy the convenience, comfort and peace of mind offered by these credit solutions.

RCS is committed to making life purchases more accessible for its customers. The RCS Card is accepted at over 20,000 retail stores across South Africa. From fashion to furniture, automotive parts to home improvements and even the latest hi-tech electronic gadgets and groceries, one card gives a customer access to credit across South Africa's largest shopping network. Ultimately, it's about helping make the impossible possible in a challenging economic climate.

RCS does its best to provide you with all the information you need. If they missed something, they ask you to let them know through their contact form and they will respond to you in a short amount of time.

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[collapse title="Study Loan SA"]

Study Loan SA makes Study Loans possible through Distance Learning

If you are dreaming of furthering your studies and pursuing the career or promotion you’ve always wanted, they have a financial solution that could make this a reality for you.

Most people are worried about how they would pay for their studies and they get anxious thinking that they need all the money upfront. Well, no need to stress any longer. Study Loan SA has partnered up with a group of Distance Learning Colleges that offer study loans with affordable monthly payment schedules.

These Partner Colleges offer you great service and benefits, so if you are serious about studying, Study Loan SA recommends that you apply for a study loan at one of their Partner Colleges today.

How does it Work?

The Partner Colleges offer Distance Learning Courses and you would be studying from home in your free time. This means that you won’t attend any classes and can still have a full-time job while furthering your studies.

You can apply for a study loan at any of the Partner Colleges and they will contact you directly to make the necessary arrangements.

Once your study loan is approved, you will receive a monthly payment schedule and you can start your studies immediately. This means that you can “Pay as you Study” and repay your study loan in affordable monthly payments.

Learn more about the support distance learning institutions by clicking on this Partner Colleges link.

Some FAQ's regarding Study Loan SA

  1. Can I apply for a second study loan whilst still paying off the first study loan somewhere?

Yes.

  1. What Happens if I can't repay my instalment?

Study Loan SA has a number of ways to help people who struggle to make their monthly payments. One of the options is that you take a break from your studies, for three months. In this time you don't study, and you also don't pay. Study Loan SA can also try and reduce the monthly amount, and then you pay for extra months to make up for the lower monthly fee. If you lose your job because you are retrenched, then you need to give them proof of your retrenchment, and then you can keep on studying for free.

  1. What happens if my study loan is approved?

Your approval for a study loan can only be used with the college you selected in the application process. When your loan is approved, the College is informed, and a Registrar from the College will contact you to complete your Registration. If a Registrar is available in the study loans office, then you will be contacted from there directly to complete your Registration.

  1. What happens if the payer of my study loan passes away or gets retrenched?

You need to give Study Loan SA proof of retrenchment or proof that the person has passed away. Once you have submitted proof, and it has been approved and accepted by us, then you continue your studies for free.

  1. Who can apply for finance from  Study Loan SA?

Anyone wanting to study with one of the colleges listed on the website.

6.If the student is currently studying with one of these colleges, can he/she apply for an additional study loan?

Yes. The student's past payment record will be used in determining if Study Loan SA approves a loan. All students on study loans have to sign a fixed term contract. This means that the student has to make all payments until the complete course fee is paid.

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[collapse title="UBank"]

Quick Personal Loan Overview

  • Maximum Loan Amount: R80,000
  • Minimum Length of the Loan: 1 Months
  • Maximum Length of the Loan: 60 Months

Personal Loans with UBank

Life is full of surprises, and sometimes that means you need a little bit extra. This is where you can look at the Ubank Personal Loan, so you can enjoy and handle life’s little surprises without worrying about how to afford them.

A Personal Loan Designed Around Your Needs

  • You can borrow any amount up to R80 000.
  • You can choose flexible Personal Loan repayment options from 1 to 60 months.
  • Risk-based approach – the interest rate will be based on your credit profile.
  • You can apply easily at any branch or by calling the UBank Contact Centre.
  • You can access your funds straight away from your Ubank account once your Personal Loan is approved.
  • As long as you earn a salary, have a bank account and are between 18 and 65 years, you can apply for a Personal Loan.
  • UBank will do a credit check to confirm that you have a healthy credit record and that you can afford the loan.

You Will Need the Following for the Personal Loan Application:

  • A green bar-coded identity book or South African passport.
  • Latest original salary advice.
  • Proof of physical address (not older than 3 months).
  • Your banking details and last 3 months’ banking statements (non-Ubank customers).
  • Two different contact numbers – one number for you and one for a relative.
  • A list of your expenses.
  • If you are married in community of property you will need to obtain written consent from your spouse.

Follow These Simple Guidelines to Make Sure You Know How Borrowing Money Will Affect You

  • Only borrow money if you are sure you can afford to make your repayments.
  • Only take a Personal Loan from a bank that you know or a registered microlender. Registered lenders have rules that protect you!
  • Draw up a budget to see if you have a surplus or deficit amount left after paying all your expenses. Make use of the UBank loan calculator to determine what it will cost you to take a loan.
  • Do NOT sign a blank document given to you.
  • Never pay any staff member cash in return for a quick Personal Loan.

When You Sign a Personal Loan Contract, Please Make Sure it has the Following:

  • The amount you are borrowing;
  • The number of instalments and how often you need to pay;
  • The amount payable every time you have to make a payment;
  • The amount of time the Personal Loan must be paid back in; and
  • The amount of interest that you will have to pay.

What If You Can’t Afford the Personal Loan Repayments Any Longer?

If you find yourself in financial trouble and cannot afford your Personal Loan please speak to your Ubank sales consultant urgently. This can happen to anyone and communication is key when it comes to resolving these issues.

Fees that you will encounter

  • Initiation Fee
  • Monthly Service Fee
  • Credit Life Assurance Premium
  • Interest Rate
    • Fluctuating variable interest rate linked to Prime.

Some Background on UBank

UBank is a well-established financial services provider that has grown over the years and managed to entrench itself primarily within the gold and platinum mining communities.

The mandate and plan to service the broader working market in South Africa has become imperative in order to extend affordable financial services to South Africa. Ubank has a strong presence and customer accessibility, mainly in selected mining and rural communities in South Africa.

UBank Uniqueness

Ubank has a long and rich history of providing basic financial services to mineworkers and their families spanning almost 40 years. In 1975, when other financial institutions largely ignored this sector of the market, Teba Cash Financial Services was formed to provide mineworkers with basic financial services. These included facilitating the remittance of funds to families and dependents in the rural and labour-sending areas using a linked account facility.

In the early 1990's, as South Africa was undergoing fundamental political change as a country the Godsell Motlatsi Commission was formed. This led to the transition from a savings fund into a commercial bank.

In June 2000, Ubank (then Teba Bank), was granted a banking license, although its ownership remained in the form of a Trust managed by trustees who are elected by the National Union of Mineworkers and the South African Chamber of Mines. The beneficiaries of the Trust are the Bank`s customers.

In 2007, Ubank welcomed a new vision, mission, set of values and strategy. Essentially, this saw Ubank set itself up to become the "Workers Bank of Choice".

In October 2010, the name of the bank was changed to Ubank and launched to the public. Since the birth of the new brand and strategy, various initiatives to improve and expand the business have been delivered.

Ubank is driven by a social consciousness that underpins all they do - their customers are their owners and UBank exists to serve them through the provision of financial services that meet their changing needs and improve their lives. UBank is proud of their long association with the mining industry, including mineworkers, mining companies, the National Union of Mineworkers and the Chamber of Mines who have played a significant role in the development of this Bank.

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[collapse title="Wannaloan"]

Quick Pay Day Loan Overview

  • Minimum Loan Amount: R500
  • Maximum Loan Amount: R3,000
  • Minimum Length of the Loan: 5 Days
  • Maximum Length of the Loan: 37 Days
  • APR: 60%

Wannaloan?™ is all about Pay Day Loans

You can apply from R500 up to R3 000, qualify and get paid the same day!

Wannaloan is so confident in this that they have trademarked themselves with,

SAME DAY. PAY DAY. EVERY DAY.™

You can use this easy slider tool to determine your loan amount and repayment time and Wannaloan?™ will deliver some up to date fees for your pay potential day loan. If you're on Mobile, don't hesitate to check out their easy to mobile-site.

Wannaloan?™ also promises:

  • Paperless Application
  • First Five days interest fees
  • Payout within one hour
  • Three simple steps to getting paid

Why Wannaloan?™ is Here

Wannaloan™ was created for a sole purpose. They noticed that there was a growing number of South Africans who struggled to access short-term credit. Therefore, the Wannaloan?™ mission is to create a solution that will lift the burden of denial-of-credit for the little things by providing small loans over short periods. In the face of the deficient climate, Wannaloan?™ quickly became South Africa's premier payday lending company.

The Wannaloan?™ head office is nestled in the sunny city of Cape Town, South Africa. Their team works tirelessly to provide payday lending solutions to the South African public. Wannaloan?™ is part of the enterprising company Blackbird Group which is an established leader in the financial industry.

"Although our processes are automated and communication instant, Wannaloan?™ will constantly strive to champion the customer experience"- says CEO and founder, Nathan January.

As a uniquely South African company, they are committed to responsible lending and advise to only borrow as much as you can afford to pay back. Read more about the Wannaloan?™ Responsible Lending Practice. If you have any further questions.

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[collapse title="Wonga"]

Quick Pay Day Loan Overview

  • Minimum Loan Amount: R100
  • Maximum Loan Amount: R8,000
  • Minimum of the Loan: 1 Month
  • Maximum Length of the Loan: 2 Months
  • APR per day: 0.17%

Wonga Loans boasts a quick and easy loan application process with some simple steps

  • Apply online 24/7
  • No hidden charges
  • No branch visits
  • Also available on mobile

There's a cool feedback statistic that will quickly show you whether Wonga is the loan provider for you. Wonga offers flexible, short term loans that are split into loans of up to R3,000 for new customers and loans of up to R8,000 for existing customers.

You can use their slider tool to have a glance at what your repayment and interest will look like. If you've sniffed out some suspicious behaviour, they also have a hotline on their homepage immediately available as a number or mail to make sure you're not being sharked by a Wonga imposter!

How Wonga Loans Work

Applying for a Wonga Loan is simple because their unique service is online from start to finish. To kick-off, use the sliders on the homepage to decide exactly how much cash you want to borrow and how many days you need it for. Wonga will show you the full cost and, once you're happy, you can click apply. They will then ask you for some personal details and banking information for their super-speedy credit check.

Wonga usually provides an answer almost instantly and, if approved, they send the cash to your bank before you know it! Wonga promises that this makes them the fastest and most flexible lender in the land.

On your chosen date, Wonga collects a single payment from your bank account, so you just need to ensure the required funds are available. You can initially request any amount up to R3,000 and, should you choose to use Wonga more than once and providing you use the service responsibly, they may gradually increase your Wonga trust rating, giving you more borrowing flexibility if you ever need it. Once you have an account, you'll find the application is even faster next time too!

If you would like to learn some more on Wonga Loans, view the informative infographic and their online tool on the How it Works page. Also, learn the Wonga perspective on some of the following:

  • Short Term Credit
  • Transparency
  • Failure to stick to your side of the deal

We definitely recommend having a look at the Wonga Advice page to learn more about loans and also score a free pdf guide called the Quick Guide to Borrowing.

Some Background on Wonga

Wonga was founded in London by two South Africans who wanted to the turn the credit market upside down. They spent three years perfecting the service in the UK, building it into one of the most innovative credit businesses around. Now they feel it is good enough to help customers in other regions, so it is only natural for them to want to bring it home to Mzansi. It is Wonga’s mission to solve people's short term and urgent cash flow problems with an equally short term and responsible solution.

Wonga plans to transform the South African credit market by offering small, short term loans online with more speed, convenience and flexibility than banks, traditional lenders and other websites. They remove the complexity and inflexibility consumers face whenever they need to borrow some cash in a hurry. They are a registered Credit Provider and are regulated by the National Credit Act.

Wonga Credibility

  • 99% of Wonga customers would recommend Wonga to their friends or family
  • 98% of Wonga customers found the service easy to use
  • 97% say they would use Wonga again if they needed another loan
  • 90% say using Wonga is either much better or better than using other credit providers

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[collapse title="Woolworths Personal Loans"]

Quick Pay Day Loan Overview

  • Minimum Loan Amount: R2,000
  • Maximum Loan Amount: R75,000
  • Minimum of the Loan: 12 Months
  • Maximum Length of the Loan: 60 Months
  • APR: 22.65%

Get a Resolving Personal Loan from Woolworths

There are times when all of us could use some extra cash to cover unforeseen expenses.

A Guide to the repayments

The Woolworths choice of repayment periods and interest rates are designed to make it easier for you to manage your personal finances.

Please note: The examples are provided for illustrative purposes only. The actual calculations for your loan will be shown on the Pre-Agreement statement and quotation.

Revolving Personal Loan

  • Flexible repayment terms of up to 60 months
  • Re-use all the money that has been paid back towards the loan
  • Low monthly service and initiation fees
  • Flexibility to increase your limit should you need extra funds
  • Flexibility to settle early without penalties
  • Flexibility to make additional payments towards your loan
  • Convenience of accessing cash through our interactive voice message system
  • Woolworths Personal Loan Pricing

Monthly Service Fee

  • Revolving personal loans: R32.00
  • Fixed term personal loans: Up to R53.00

Initiation Fee

Revolving personal loans: Up to R550.00

Collection Fee

  • Revolving personal loans: As per requirements of the Debt Collectors Act, No. 114 of 1998
  • Fixed term personal loans: As per requirements of the Debt Collectors Act, No. 114 of 1998

Optional insurance is available

For your peace of mind, Woolworths offers you a choice of two Balance Protection Insurance options, Basic Balance Protection and Comprehensive Balance Protection.

Cash In 48 Hours

Once the loan application has been approved, you will receive cash into your bank account within 48 hours.

Additional Funds

You can access cash on your loan account by contacting their call centre on 0861 50 20 10.

Interest

  • Interest will be charged according to the National Credit Act (NCA) and will never exceed the maximum allowed by the NCA.
  • The interest rate charged is a variable interest rate that is linked to the Repo Rate which may change from time to time.

Easy Payments

  • Payment by a monthly debit order is compulsory.
  • Additional payments can be made at any Woolworths store, deposited into any Absa bank branch or by Electronic Funds Transfer (EFT).
  • Electronic Statements
  • You can select to receive your monthly statements via email.

Easy Application

Just complete the application form online or apply in-store.

Peace Of Mind

Woolworths offers optional Balance Protection to cover you for death, retrenchment, critical illness and disability. Find out about your options.

To Qualify for a loan, You Must

  • Be 18 years of age or older
  • Have a valid South African ID
  • Be permanently employed
  • Latest three payslips or the last three months' bank statements
  • Have a bank account in your name



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Quick Pay Day Loan Overview

  • Minimum Loan Amount: R100
  • Maximum Loan Amount: R8,000
  • Minimum of the Loan: 1 Month
  • Maximum Length of the Loan: 6 Months
  • APR per day: 0.17%

Apply for a loan through Atlas Finance

Atlas Finance offers loans of up to R8,000 with a 1 to 6 months repayment period. With that, you can also take a loan of R3,000 or more over a 4 to 6 months.

Atlas Finance helps you in 3 easy steps:

  1. Fill out the enquiry form.
  2. One of the experienced call centre agents will contact you to confirm whether you qualify for a loan.
  3. Your loan is paid out to you.

Some Background on Atlas Finance Loans

A loan company that truly understands the needs of individuals is one that offers its clients flexibility when it comes to repayments. Atlas Finance offers up to 6 months for repayment, plus the option of a top up loan which could be taken during this time should you need extra money.

With loans of up to R8,000 and a quick, simple and confidential application process, getting a loan is convenient and secure.

Whether you want to give your child a brighter future through education, do some much-needed car repairs, or even stock up on groceries, Atlas Finance offers you a suitable loan for your needs.

Background on Atlas Finance

In 1994, Jack Halfon opened a small business focused on micro-lending. His vision was to provide financial assistance to all South Africans in an ethical, responsible and legitimate way.

20 years later, Atlas Finance has over 170 branches and has provided over 2 million loans to clients nationwide. The business believes in constant growth and expansion without compromising the quality and ethical service that clients have come to expect.

Atlas Finance combines the care, attention to detail and dedication of a family-run business with the stability, professionalism and credibility of one of South Africa’s leading financiers.

Atlas Finance is a Registered Credit Provider and proud member of Micro-Finance South Africa (MFSA).


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Quick Personal Loans Overview

  • Minimum Loan Amount: R1,000
  • Maximum Loan Amount: R40,000
  • Maximum Length of the Loan: 9 Months
  • Minimum Length of the Loan: 60 Months

Flexible Loans, on your terms with Izwe Loans

If you need a Loan, Izwe Loans believes it’s easier than you think. They offer various forms of personal loans ranging from R1,000 to R40,000 with loan repayment terms ranging from 9 to 60 Months.

Let’s have a look at the various personal loans from Izwe Loans and the processes involved.

Personal Loans (broken down into categories below after How it Works)

Izwe Loans offers purpose based personal loans to suit your personalized needs, with affordable monthly payments.

Whether you need funds to build or renovate your dream home, pay for your child’s education or you need to consolidate your current debt  for any unforeseen expenditure. Izwe Loans offers personal loans with terms ranging from 9 months – 60 months (5 years) and from R1 000 to R50 000.

How it Works

What do I need in order to apply for a Personal Loan?

  • Valid SA ID or driver’s licence.
  • Your most recent payslip.
  • 3 months bank statements.

Building Loans

We all have dreams of how our future home will look or have an idea in our head of how our homes can be improved. There is nothing more frustrating than having to wait to be able to afford these dreams.

Whether you have changes you are currently trying to pay off or ideas about what you will do in the future, an Izwe Loans building loan can help you with the finances needed.

Student Loans

Are you stressed about paying off your child’s school fees?  Do you need help paying for your child’s tertiary education or even registration to secure them a different future?

We are all aware that school and tertiary education comes with a high price tag. Education is vital if we want our children to succeed in life. Children need to attend school and a tertiary institution in order to grow into mature and intelligent adults. This places a lot of pressure on ourselves in everyday life to ensure our children’s future education or potential growth.

Izwe Loans’ Student Loans allow you to pay off your child’s education over a period of time that is tailor made to your personal circumstances. This can be done over as little as 9 months or as long as 60 months, depending on your financial situation.

Debt Consolidation Loans

Do you sometimes wish that you could combine all your debt under one roof? Are you tired of having a never ending list of people or companies you owe money to every month?

If you are having difficulty repaying several loans, you should consider a consolidation loan. You may be more familiar with the term “debt consolidation loans”. It allows you to take multiple outstanding debts and consolidate them into a single, more manageable loan. In other words, you will take out one new loan and use that loan to pay off all your other debts.

What does this mean?

A consolidation loan will;

  • Give you the security of a fixed-rate loan;
  • Lower your monthly payments;
  • Help you obtain a lower-interest-rate loan.

General Loan

Want to spoil yourself? Need a gift for someone special or need money for an unforeseen circumstance?

Izwe Loans gives you the freedom to spend your money however you feel fit. Whether you need the money to assist you with an unforeseen life event or even a well-deserved vacation , Izwe Loans grants you the freedom of choice to do what you want with your money.

They offer general loans ranging from R1,000 up to R50,000 and terms ranging from 9 to 60 months.

Some Background on Izwe Loans

Mission

Izwe Loans enables people to enrich their lives by providing them with ready access to useful financial solutions.

Izwe Loans (Pty) Ltd is a specialist finance company targeting the formally employed market with an unsecured term-loan offering. The company has grown into a dynamic, rapidly developing pan-African micro-finance organisation with operations in South Africa, Zambia, Ghana and Kenya.

Izwe Loans (Pty) Ltd was established in South Africa in 2004 opening its first branch in Pretoria, Gauteng. Since then, there has been a steady and managed progression of branch openings. Izwe Loans is now represented by 18 branches nationwide.

In Zambia, Ghana and Kenya, the businesses are managed by experienced local management teams, with effective central support from South Africa.

Izwe Loans operates as a registered micro-financier and makes unsecured loans which currently do not exceed R50,000 with tenors up to 60 months. Izwe Loans has disbursed over R1 billion to date to over 150,000 customers.

REGULATORS

  • National Credit Regulator (NCR)
  • Financial Services Board (FSB)

LEGISLATION

  • National Credit Act (NCA) promulgated in June 2006
  • Long Term and Short Term Insurance Act

Investor Relations

Established in 2004, Izwe Loans is a specialist Financial Services Company offering unsecured term loans to the formally employed but under-banked market.

In just under ten years Izwe Loans has established itself as a pre-eminent Pan African Financial Services Player. Izwe Loans operates through subsidiary companies, with 18 branches in South Africa, 9 branches in Zambia, 6 in Ghana and 12 in Kenya. The Company has developed a strong agent distribution network in all the countries of operation, with particular penetration into the rural areas. To complement the agent channel, Izwe Loans commenced a digitally-based distribution business in January 2012.

Izwe Loans is managed by a team of highly experienced South African micro finance professionals from its Johannesburg head office on much the same principles as the formal banking sector. In Zambia, Ghana and Kenya, the businesses are managed by experienced local management teams, with effective central support from the South African team. Credit is provided through electronic banking channels to salaried employees with stable monthly incomes.

Through online credit scoring models and an integrated debtor management system, Izwe Loans considers itself as an industry leader in application turnaround, often achieving same day pay-out. As part of their risk mitigation in Zambia, Ghana and Kenya, Izwe Loans only takes on loans where repayment can be routed through salary deductions, significantly reducing counter-party risk.


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Quick Personal Loan Overview

  • Minimum Loan Amount: R10,000
  • Maximum Loan Amount: R250,000
  • Maximum Length of the Loan: 72 Months
  • Minimum Length of the Loan: 72 Months
  • APR: 32%

Get a loan against your assets with Lamna

Do you want to increase your liquidity with a discreet, short term loan against assets?

This could be your solution.

The Lamna consultants assist high net-worth individuals in obtaining short-term loans against their valuables. This includes luxury motor vehicles, fine art and jewellery. Your asset value basically determines your loan amount.

Lamna’s experienced team of financial advisors, chartered accountants, lawyers and trained appraisers will process your short term loan promptly and with discretion. They are fully compliant with the National Credit Act and focused on providing you with cost-effective financing solutions through excellent service.

Interest is payable monthly and the short-term loan is repayable at the end of the agreed loan term. Once the interest and loan have been repaid, Lamna will return your valuables in the same condition as when they arrived.

To sum it up

So, simply complete and submit the online application form, providing as much detail as possible about the item(s) you want to use as collateral for a loan. Once you’ve done this, Lamna will contact you and arrange a convenient time to appraise the asset, conclude a loan agreement and transfer funds to you.

Some Background on Lamna and their Team

Lamna is a specialty finance company with particular focus on short-term asset backed transactions for high net worth individuals. They are dedicated to understanding the individual credit needs of their clients, and providing consumers with innovative and cost effective financing solutions. Lamna is fully compliant with the National Credit Act. Their clients can be confident of receiving competitive short term loans and the best available service while being protected by the lending and credit laws of South Africa.

The Lamna team comprises of: financial advisors, chartered accountants, lawyers and trained appraisers. All management and staff have been trained to understand and comply with the National Credit Act so Lamna clients can be assured of receiving the best service at the most competitive cost.


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Quick Long Term Personal Loan Overview

  • Minimum Loan Amount: R1,000
  • Maximum Loan Amount: R100,000
  • Minimum Length of the Loan: 13
  • Maximum Length of the Loan: 36 Months
  • APR: 32%

Quick Short Term Personal Loan Overview

  • Minimum Loan Amount: R500
  • Maximum Loan Amount: R8000
  • Minimum Length of the Loan: 2 Months
  • Maximum Length of the Loan: 6 Months
  • APR: ?

Quick Pay Day Loan Overview

  • Maximum Loan Amount: R8,000
  • Repayment Length of the Loan: 1 Month
  • APR: ?

Quick Debt Consolidation Loan Overview

  • Maximum Loan Amount: R100,000
  • Minimum Length of the Loan: 1 Month
  • Maximum Length of the Loan: 36 Months

Long Term Personal Loan with Letsatsi

Realize your goals with our long term loans

Planning that dream wedding or extending your home are plans for your future, and Letsatsi offers long-term loans to finance them without worry. Whatever the purpose of the loan, they have 3 long term payment options to help you realize those dreams any day that you need it.

Long Term loans

  • Loans from R1,000 up to R100,000
  • Choose either 13, 24 or 36 months payment terms

What do you need to apply?

  • Original ID book
  • 2 months payslips
  • 3 months bank statements

Why consider Letsatsi?

  • They have professional staff to advise you
  • They strive for same day payout

What can I use it for?

  • College or University fees
  • Weddings
  • Home improvements or renovations
  • Medical bills

Short Term Personal Loans

Letsatsi short term loans are the perfect solution to unexpected expenses.

Ever been in a situation where something breaks that you didn’t plan for? You may suddenly need a new clutch for the car, or fix the refrigerator, or perhaps you want to plan a little get away for your anniversary? Letsatsi short term loans are the perfect solution.

Short Term Personal Loans

  • Choose between 2 and 6 months payment terms
  • Loans from R500 and up to R8,000

What do you need to apply?

  • Original ID book
  • 2 months payslips
  • 3 months bank statements

Why consider Letsatsi?

  • Get approval within 1 hour
  • You can have more than 1 loan at a time should the need occur
  • They strive for same day payout

What can I use it for?

  • Education or School fees
  • Medical bills
  • Repairs
  • Family vacations
  • Unexpected expenses

Pay Day Loan

If you need a small or medium amount of money in a hurry then pay day loans are available. You will have the money paid to you now and the loan will come off your next salary.

  • Loans up to R8 000
  • 1-month repayment

Debt Consolidation

Repay all your expenses with a debt consolidation loan.

Not looking forward to the end of the month because of those piles of bills in the mailbox? You now have the option to repay all your expenses such as personal loans, store cards and credit cards under one consolidated loan.

Letsatsi offers you debt consolidation with loans of up to R100,000 and up to 36 months to repay – a convenient solution with one monthly instalment for your multiple loans.

The benefits of debt consolidation include:

  • 1 monthly instalment
  • Loans up to R100,000
  • 1 to 36 months repayment period
  • The convenience of servicing only 1 loan as opposed to many loans at once. (personal loans, store cards, credit cards)

What do you need to apply?

  • Original ID book
  • 2 months payslips
  • 3 months bank statements
  • Settlement letters

When to apply?

  • In arrears with your accounts
  • Listed at the credit bureau
  • Battling to manage loans and debts

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Quick Personal Loan Overview

  • Minimum Loan Amount: R500
  • Maximum Loan Amount: R3,000
  • Minimum Length of the Loan: 1 Months
  • Maximum Length of the Loan: 3 Months
  • APR: 60%

Low Budget Loans

Get a loan that ranges from R500 to R3,000 with repayments options from 1 to 3 months. Plus, cellphone airtime on credit as a value-added service to existing clients.

Some Background on Low Budget Loans

Low Budget Loans was established in 2004 by a group of bank managers who had a better understanding of how to provide faster / better / easier short term credit to the middle to higher income salary earner. They rapidly became the Service Provider of choice by providing exactly this.

Low Budget Loans follows the trend that technology should provide services to all South Africans, and that the traditional footprint of offices nationwide became redundant. Low Budget Loans focuses on centralization by dealing only electronically in each transaction. This enables them to offer their services to all South Africans nationwide.

Loan Budget Loans is committed to:

  • Responsible lending
  • Transparency
  • Complying with the rules and regulations as prescribed by the National Credit Regulator (NCR) and other regulatory bodies
  • Providing an excellent service and building a long-term relationship with our clients.

It is the mission of Low Budget Loans to solve the short-term and urgent cash flow problems of their clients with an equally short term and responsible solution.


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Quick Personal Loan Overview

  • Maximum Loan Amount: R10,000

Get a Personal Loan Up To R10,000.

Enjoy benefits like:

  • Personal Loans up to R10,000.
  • Educational Loans up to R15,000.
  • Emergency Loans up to R7,500.
  • Approval and Payout within 24 Hours.

Apply for a Personal Loan on the Mafori Finance website, or contact them for more information.

Who is Mafori Finance?

Mafori Group of Companies (“MGC”) was founded in 1998 as an Integrated Financial Services platform targeted at the South African population excluded (or under-serviced) by the currently available financial services industry of South Africa. The Group use partnerships, collaborations, educative engagements and accessible virtual spaces to achieve its mission. They actively engage the public and maximize the use of their employees’ talents and potential as well as organizational acumen.

Vision

Humane Banking for All.

Mission

To broaden access to quality and socially responsible banking.


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Student Loans for university students

NSFAS assists students who have the academic potential to succeed at university and who qualify in terms of the NSFAS Means Test for financial aid.

What is a Student Loan from NSFAS?

A student loan is the money you borrow from NSFAS to cover the costs of your studies at any of the 25 public universities in South Africa. The costs include tuition fees, residence or private accommodation costs, food, books and travel. This loan must be repaid to NSFAS when you have finished studying. Depending on your results, up to 40% of your NSFAS study loan may be converted into a bursary and you do not need to repay that amount.

NSFAS has very reasonable repayment terms, which are based on what you earn after you leave university. All loans that are repaid are used to fund other students who also need financial assistance. NSFAS gives loans to students without the need for guarantees or sureties from parents or guardians.

SBUX

NSFAS has introduced a new system called sBux to pay students for food, accommodation, books and travel allowances.

What documents do I need when I apply?

When you apply for a NSFAS student loan, you must attach all the documents listed below:

  • Grade 12 Certificate.
  • South African Identity Document.
  • Proof of parent’s income.
  • Proof of registration at school, college or university of brothers and sisters who live in the same household.
  • Proof of registration can be obtained at the institutions where your brothers and sisters are registered at.
  • Certified copies of their Birth Certificates and their Identity Documents.
  • If you have a permanent disability, a letter from your doctor to confirm proof of disability.
  • Letter of acceptance from the public university or college where you have applied to study.

How do I repay the student loan?

NSFAS student loans are income-contingent. This means that repayment starts only when you have an income, usually when you start working. NSFAS will send you statements showing how much you owe and how much you must pay back each month.

It is your legal responsibility to keep in touch with NSFAS and to inform them of any change of address.

How are repayments calculated?

NSFAS has made repayments affordable for you. Repayments of your student loan are based on the salary that you earn, and start once your salary is R30 000 or more per year.

Payments start at 3% of your annual salary, increasing to a maximum of 8% when your salary reaches R59 300 or more per year. For example, this means you will pay back R900 a year on a salary of R30 000 a year, or R84 per month.

When your salary is R59 300 you will pay back R4 744 a year or R696 a month. NSFAS charges lower interest rates than banks. Interest is charged at 80% of the repo rate, which is the repurchase rate at which the Reserve Bank lends to commercial banks. NSFAS will continue to charge interest on all outstanding balances. It is therefore very important to start repaying your loan as soon as possible.

How will I repay the loan if I am unemployed or still studying?

You do not have to repay if you are unemployed or still studying, but you do have to provide written proof (in the form of an affidavit, valid for 3 months) to say that you are unemployed.

Please stay in contact with NSFAS and make sure that information such as your employment status and your personal details, including address and cellphone numbers, are up to date.

Does NSFAS pay registration costs for first-year and returning students?

Yes, but only for students where the Expected Family Contribution is 0 on the Means Test.

How is part of a NSFAS loan converted into a bursary that does not have to be repaid?

Up to 40% of your student loan may be converted into a bursary and does not have to be repaid, depending on your year-end results. NSFAS checks these results with the university at the end of every year of study.

Final Year Programme

Students in their final year of study, who will qualify to graduate at the end of the year, are eligible to be funded through the Final Year Programme. This is a special funding programme which was launched by the President in 2011. If you graduate in your final year, the loan is converted to a 100% bursary.  Students can only benefit from the Final Year Programme one time.

How do these bursary conversions show on NSFAS accounts?

Bursary rebates and your credit balance appear on your statement when NSFAS receives your academic results and refunds from the university. This takes place at the end of the NSFAS financial year in April.

Your academic results are used to calculate any bursary rebates: for example, 40% of your student loan will be converted into a bursary if you pass all courses; if you pass half of your courses, then 20% of the student loan will be converted into a bursary. If you don’t pass any courses, you will not receive any bursary rebate for that academic year and you will have to repay 100% of your student loan.

What happens to any money left over from my NSFAS student loan?

Money left over from a NSFAS study loan is never paid out to you. The money is deducted from the balance you owe. You will not have to pay interest on it, and NSFAS will have more funds to help other students like you. Funds paid back to NSFAS are used as your first repayment of your student loan.

Some Background on NSFAS

To transform NSFAS into an efficient and effective provider of financial aid to students from poor and working class families in a sustainable manner that promotes access to, and success in, higher and further education and training in pursuit of South Africa’s national and human resource development goals.

The mission statement is made up of three distinct elements which describe why NSFAS exists, what they do, and the impact on their constituency:

  1. NSFAS exists to provide financial aid to eligible students at public TVET colleges and public universities.
  2. NSFAS identifies eligible students, provides loans and bursaries and collects student loan repayments to replenish the funds available for future generations of students.
  3. NSFAS supports access to, and success in, higher education and training for students from poor and working class families who would otherwise not be able to afford to study.

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Quick Personal Loan Overview

  • Maximum Loan Amount: R80,000
  • Maximum Length of the Loan: 48 Months
  • APR: 32%

Quick Business Loan Overview

  • Minimum Loan Amount: R1,000
  • Maximum Loan Amount: R150,000
  • Minimum Length of the Loan: 4 Months
  • Maximum Length of the Loan: 24 Months
  • APR: 60%

Opportunity Finance offers Loans for Lifestyle and Business

Opportunity Finance offers personal loans that cover the typical unexpected costs of life, to cater for needs like debt consolidation and upgrading your life, or to finance your Business.

Product Details of Lifestyle Finance:

  • Get up to R80,000 and repay in up to 48 months
  • Weekly, fortnightly and monthly repayment options
  • Repay by debit order or cash if you don’t have a bank account
  • Competitive interest between 21%-32% per annum
  • Get the funds in cash, in your account or paid to a third party, or even a combination of all 3!

What you will need to apply for a Personal Loan for Lifestyle Finance:

  • Your South African ID Book
  • A Copy of your Latest Payslip
  • A Copy of your Latest Bank Statement

Product Details of Business Finance

Opportunity Finance has also gone to great lengths to make sure they understand up and coming business’ owners needs. They understand:

  • The NECESSITY for a small business to have access to flexible working capital.
  • The IMPORTANCE for  a small business to invest in assets such as machinery, equipment and vehicles.
  • The FRUSTRATION for small business owners of not being able to access finance due to lack of sufficient formal documentation.

Benefits to small and medium businesses:

  • Loan amounts range from R1,000 – R150,000 to meet working capital needs and finance the purchase of assets such as machinery and equipment, and business and home improvement.
  • Flexible loan repayment terms from 4 months to 24 months, with instalments payable weekly, fortnightly or monthly.
  • Competitive interest rates ranging from 23% to 60% per annum.
  • Loans can be paid into your existing bank account, with a pre-paid debit card or to the supplier from which you are purchasing.
  • Sole proprietors DO NOT need formal financial records (income statement and balance sheet) although it would be advantageous if you have these.
  • No need to have a bank account.
  • For loans of more than R150,000 Opportunity Finance does require collateral.

What do you need to apply for a Business Loan?

  • Must have been in business for 1 year.
  • Your green SA ID book.
  • Sole proprietors (i.e. where you own and run the business) Opportunity Finance would like to see the following documents:
    • Slips, invoices, receipts of purchases and sales for the last 3 months (if this is available).
    • A bank statement for the last 90 days (if you have a bank account).
    • Proof of residence (FICA document).
  • For close corporations Opportunity Finance requires:
    • CK1 and/or CK2 documents
    • Business Registration Number
    • ID number and names of members
    • Most recent financial statements
    • Proof of income and expenses
    • Bank statement for the last 90 days
    • Resolution from members, authorising the loan application with Opportunity Finance
  • For registered companies Opportunity Finance requires:
    • Company documents which include:
      • Founding statements, Articles of association, CM1, CM2, CM5, CM9, CM20, CM29
    • Most recent audited financial statements
    • Management accounts for the last 6 months
    • Bank statement for the last 180 days
    • Resolution authorising the nominated representative to apply for the loan
    • List of shareholders and their shareholding in the company
    • ID Number and names of Company Directors

How it will Work with Business Financing

  • Step 1 – Make an inquiry online, by phoning the Opportunity Finance national call centre or contacting one of their business development officers.
  • Step 2 – One of the Opportunity Finance business development officerswill contact you and set up an appointment to meet you.
  • Step 3 – All the necessary financial and application information will be processed.
  • Step 4 – If Opportunity Finance has all the information that they require from you, they can approve and pay out the loan within 12 business days!

Some Background on Opportunity Finance

Opportunity Finance is part of Opportunity International, a global organization established by a group of dedicated Christians more than 30 years ago. Opportunity Finance is committed to providing affordable, transparent and relevant financial services that make a real difference in the lives of those who do not have easy access to financial services.

Vision

To become a sustainable and well-known household name that offers consistent, professional, accessible, timely and relevant financial services to small businesses and the formally employed.

Mission

In achieving its vision, it is important for Opportunity Finance to:

  • Be financially sustainable while still providing financial services to their clients that are fairly priced and in line with banking industry norms.
  • Build bank-like trust and focus on service excellence and professionalism.
  • Offer financial products and services to their client base that are simple to understand, have transparent pricing, that are accessible and relevant and that foster economic development.
  • Focus on building a culture of respect, transparency, honesty, and integrity in all that it does.

As part of a global network, they are dedicated to making a real difference in the lives of their clients and are committed to providing affordable, transparent and relevant financial products to those that do not have easy access to financial services.


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Quick Personal Loan Overview

  • Minimum Loan Amount: R500
  • Maximum Loan Amount: R50,000

QuickRands Personal Loan Application

The quickest and easiest way to get personal loan funds that range from R500 to R50,000.

3 Easy Steps to a loan with QuickRands:

  • Select the amount you want
  • Fill out your details
  • Receive your loan

Why choose QuickRands

  • Quick and Hassle Free
  • Safe, Secure and Private
  • Customized Loan Solutions

What does QuickRands Offer?

  • They source the best loan specifically for your needs.
  • They compare loan offers from a number of credit providers to bring you the best loan for your credit rating and earnings level.
  • There is no additional cost to you by going through QuickRands – their service is 100% free.
  • They find the loan for you at the best interest rate and the one that will get you the cash quickest.
  • They do all the paperwork for you, so you can sit back and relax.
  • They chase the credit provider all day, every day, to get your loan to you. They act as your personal loan assistant.
  • They process your application within 24 hours.
  • All information processed is kept private and confidential and is transmitted securely and safely.

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Personal

Comparison Overview:


  • Product: Personal

  • Initiation Fee: 2.85% of the loan amount (not exceeding R1000)

  • Monthly Service Fee: R35

  • Interest: Variable

  • Minimum Loan Amount: Available upon application.

  • Maximum Loan Amount: Available upon application.

  • Minimum repayment period: 12

  • Maximum Repayment Period: 48


Product Overview


RainFin is an online marketplace where individuals borrow from and lend to each other through a safe and secure platform.


What you get?


  • Quick, safe and easy application

  • 100% Transparent Fee Structure

  • A loan on your terms

  • Free Credit Score


Benefit to the Borrower


  • Personal Privacy Guaranteed - Your privacy and information is always secured.

  • Check Your Credit Status - Check your credit status and make informed borrowing decisions.

  • Confirm Your Affordability - Confirm your affordability through the income and expense calculator.

  • Flexible Loan On Your Terms - Set your loan requirements and get funded in hours.


Contact RainFin


Phone 087 820 5200 and Apply Now



Business

Comparison Overview:


  • Product: Business

  • Initiation Fee: 2.85% of the loan amount (not exceeding R1000)

  • Monthly Service Fee: R60

  • Interest: Variable

  • Minimum Loan Amount: R10 000

  • Maximum Loan Amount: R750 000

  • Minimum repayment period: 12

  • Maximum Repayment Period: 48


Product Overview


With RainFin you can get hassle free business finance at an affordable rate



What your business needs to apply:


  • Must be a South African Business.

  • Have a fairly good to great business credit rating.

  • Directors are required to have a good credit rating.

  • An annual turnover of over R1 Million.

  • Have proof of transactional history.


Benefit

  • Affordable Finance For Businesses Big Or Small - Get competitive rates and returns due to multiple lenders competing in loans, thereby driving interest rates down.

  • Flexible Loan Repayment Terms - Apply for a loan from R10 000 to R750 000 and repay your loan over 12, 24, 36 or 48 months.

  • Better Rates With Smart Technology - RainFin's unique scorecard takes a comprehensive look at your business' overall financial health and potential - not just its credit score.

  • A Trusted, Credible And Compliant Lender - RainFin is an accredited and registered financial services and credit provider who you can trust.


Contact RainFin


Phone 087 820 5200 and Apply Now



Corporate

Comparison Overview:


  • Product: Corporate

  • Initiation Fee: 2.85% of the loan amount (not exceeding R1000)

  • Monthly Service Fee: Available upon application.

  • Interest: Variable

  • Minimum Loan Amount: Available upon application.

  • Maximum Loan Amount: Available upon application.

  • Minimum repayment period: 12

  • Maximum Repayment Period: 48


Product Overview


RainFin -  A first for corporates in South Africa. Obtain funding from an alternative yet affordable source and build goodwill while doing it.


What you need to know:


  • Raising finance through RainFin creates competitive pricing and generates brand awareness and loyalty

  • An eligible corporate needs to have a good credit rating determined by a reputable credit rating agency or banking institution

  • An origination and annual facility agent fee for administration, marketing and management will be charged

  • Charges are negotiated on a loan-by-loan basis

Rainfin Business Loan

Comparison Overview:

  • Product: Business Loan
  • Minimum Loan Amount: R10,000.00
  • Max loan amount: R750,000.00
  • Min repayment period: 12 months
  • Max repayment period: 48 months
  • APR: n/a

Product Overview

A Rainfin Business Loan is hassle free business finance at an affordable rate. You will access a business loan through a peer-to-peer lending marketplace that can help your business get financing fast.

What you will need to apply on the lending marketplace

  • Must be a South African Business.
  • Have a fairly good to great business credit rating.
  • Directors are required to have a good credit rating.
  • An annual turnover of over R1 Million.
  • Have proof of transactional history.

What you can expect

  • Affordable Finance For Businesses Big Or Small. Get competitive rates and returns due to multiple lenders competing in loans, thereby driving interest rates down.
  • Flexible Loan Repayment Terms. Apply for a loan from R10 000 to R750 000 and repay your loan over 12, 24, 36 or 48 months.
  • Better Rates With Smart Technology. RainFin's unique scorecard takes a comprehensive look at your business' overall financial health and potential - not just its credit score.
  • A Trusted, Credible And Compliant Lender. RainFin is an accredited and registered financial services and credit provider who you can trust.



You will get started like this

Visit the Rainfin Business Loan page to see the simple steps to get started. Below is a summary.

  1. Create a Rainfin profile
  2. Get a loan quote and customise your terms
  3. Ensure you have your KYC information nearby
  4. Loans get published
  5. Get funded

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Quick Personal Loan Overview

  • Minimum Loan Amount: R1,000
  • Maximum Loan Amount: R125,000
  • Minimum Length of the Loan: 12 Months
  • Maximum Length of the Loan: 60 Months

If you’re looking for a loan – RCS is there for you

If you’re looking for extra cash, for whatever you need, you can trust RCS to make it possible. What you can expect:

  • Pre-qualification in seconds
  • A paperless process with no queues
  • Instant cash loan of up to
  • R125 000
  • Cash deposited within 24hrs
  • Competitive rates offered
  • Flexibility: 12-60 months to pay

You can apply for a loan with RCS through filling out their online loan application form. If you’d like to learn a bit more on how it works for you to be able to apply for an RCS Loan. Here’s a handy list of criteria which you’ll need to qualify for as well:

  • You must be 18 years old and older
  • You must have a South African ID
  • You must earn a minimum of R2000 a month
  • You must have a good credit record
  • You must hold a bank account
  • You must have your latest 3 months bank statements or 3 months’ salary slips

Some Background on RCS

The RCS Group (RCS) is a consumer finance business that offers its customers a range of financial services products under its own brand name and in association with a number of retailers in South Africa, Namibia and Botswana. The two primary business areas are Cards and Loans. The Cards Business provides convenient payment facilities to consumers, whilst the Loans Business offers consumers personal cash loans of up to R100,000 – whatever their immediate needs.

The core purpose of RCS is to enhance people’s lifestyles and protect their financial security through innovative, desirable and accessible credit solutions. The idea is to enable RCS customers to enjoy the convenience, comfort and peace of mind offered by these credit solutions.

RCS is committed to making life purchases more accessible for its customers. The RCS Card is accepted at over 20,000 retail stores across South Africa. From fashion to furniture, automotive parts to home improvements and even the latest hi-tech electronic gadgets and groceries, one card gives a customer access to credit across South Africa’s largest shopping network. Ultimately, it’s about helping make the impossible possible in a challenging economic climate.

RCS does its best to provide you with all the information you need. If they missed something, they ask you to let them know through their contact form and they will respond to you in a short amount of time.


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Study Loan SA makes Study Loans possible through Distance Learning

If you are dreaming of furthering your studies and pursuing the career or promotion you’ve always wanted, they have a financial solution that could make this a reality for you.

Most people are worried about how they would pay for their studies and they get anxious thinking that they need all the money upfront. Well, no need to stress any longer. Study Loan SA has partnered up with a group of Distance Learning Colleges that offer study loans with affordable monthly payment schedules.

These Partner Colleges offer you great service and benefits, so if you are serious about studying, Study Loan SA recommends that you apply for a study loan at one of their Partner Colleges today.

How does it Work?

The Partner Colleges offer Distance Learning Courses and you would be studying from home in your free time. This means that you won’t attend any classes and can still have a full-time job while furthering your studies.

You can apply for a study loan at any of the Partner Colleges and they will contact you directly to make the necessary arrangements.

Once your study loan is approved, you will receive a monthly payment schedule and you can start your studies immediately. This means that you can “Pay as you Study” and repay your study loan in affordable monthly payments.

Learn more about the support distance learning institutions by clicking on this Partner Colleges link.

Some FAQ’s regarding Study Loan SA

  1. Can I apply for a second study loan whilst still paying off the first study loan somewhere?

Yes.

  1. What Happens if I can’t repay my instalment?

Study Loan SA has a number of ways to help people who struggle to make their monthly payments. One of the options is that you take a break from your studies, for three months. In this time you don’t study, and you also don’t pay. Study Loan SA can also try and reduce the monthly amount, and then you pay for extra months to make up for the lower monthly fee. If you lose your job because you are retrenched, then you need to give them proof of your retrenchment, and then you can keep on studying for free.

  1. What happens if my study loan is approved?

Your approval for a study loan can only be used with the college you selected in the application process. When your loan is approved, the College is informed, and a Registrar from the College will contact you to complete your Registration. If a Registrar is available in the study loans office, then you will be contacted from there directly to complete your Registration.

  1. What happens if the payer of my study loan passes away or gets retrenched?

You need to give Study Loan SA proof of retrenchment or proof that the person has passed away. Once you have submitted proof, and it has been approved and accepted by us, then you continue your studies for free.

  1. Who can apply for finance from  Study Loan SA?

Anyone wanting to study with one of the colleges listed on the website.

6.If the student is currently studying with one of these colleges, can he/she apply for an additional study loan?

Yes. The student’s past payment record will be used in determining if Study Loan SA approves a loan. All students on study loans have to sign a fixed term contract. This means that the student has to make all payments until the complete course fee is paid.


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Quick Personal Loan Overview

  • Maximum Loan Amount: R80,000
  • Minimum Length of the Loan: 1 Months
  • Maximum Length of the Loan: 60 Months

Personal Loans with UBank

Life is full of surprises, and sometimes that means you need a little bit extra. This is where you can look at the Ubank Personal Loan, so you can enjoy and handle life’s little surprises without worrying about how to afford them.

A Personal Loan Designed Around Your Needs

  • You can borrow any amount up to R80 000.
  • You can choose flexible Personal Loan repayment options from 1 to 60 months.
  • Risk-based approach – the interest rate will be based on your credit profile.
  • You can apply easily at any branch or by calling the UBank Contact Centre.
  • You can access your funds straight away from your Ubank account once your Personal Loan is approved.
  • As long as you earn a salary, have a bank account and are between 18 and 65 years, you can apply for a Personal Loan.
  • UBank will do a credit check to confirm that you have a healthy credit record and that you can afford the loan.

You Will Need the Following for the Personal Loan Application:

  • A green bar-coded identity book or South African passport.
  • Latest original salary advice.
  • Proof of physical address (not older than 3 months).
  • Your banking details and last 3 months’ banking statements (non-Ubank customers).
  • Two different contact numbers – one number for you and one for a relative.
  • A list of your expenses.
  • If you are married in community of property you will need to obtain written consent from your spouse.

Follow These Simple Guidelines to Make Sure You Know How Borrowing Money Will Affect You

  • Only borrow money if you are sure you can afford to make your repayments.
  • Only take a Personal Loan from a bank that you know or a registered microlender. Registered lenders have rules that protect you!
  • Draw up a budget to see if you have a surplus or deficit amount left after paying all your expenses. Make use of the UBank loan calculator to determine what it will cost you to take a loan.
  • Do NOT sign a blank document given to you.
  • Never pay any staff member cash in return for a quick Personal Loan.

When You Sign a Personal Loan Contract, Please Make Sure it has the Following:

  • The amount you are borrowing;
  • The number of instalments and how often you need to pay;
  • The amount payable every time you have to make a payment;
  • The amount of time the Personal Loan must be paid back in; and
  • The amount of interest that you will have to pay.

What If You Can’t Afford the Personal Loan Repayments Any Longer?

If you find yourself in financial trouble and cannot afford your Personal Loan please speak to your Ubank sales consultant urgently. This can happen to anyone and communication is key when it comes to resolving these issues.

Fees that you will encounter

  • Initiation Fee
  • Monthly Service Fee
  • Credit Life Assurance Premium
  • Interest Rate
    • Fluctuating variable interest rate linked to Prime.

Some Background on UBank

UBank is a well-established financial services provider that has grown over the years and managed to entrench itself primarily within the gold and platinum mining communities.

The mandate and plan to service the broader working market in South Africa has become imperative in order to extend affordable financial services to South Africa. Ubank has a strong presence and customer accessibility, mainly in selected mining and rural communities in South Africa.

UBank Uniqueness

Ubank has a long and rich history of providing basic financial services to mineworkers and their families spanning almost 40 years. In 1975, when other financial institutions largely ignored this sector of the market, Teba Cash Financial Services was formed to provide mineworkers with basic financial services. These included facilitating the remittance of funds to families and dependents in the rural and labour-sending areas using a linked account facility.

In the early 1990’s, as South Africa was undergoing fundamental political change as a country the Godsell Motlatsi Commission was formed. This led to the transition from a savings fund into a commercial bank.

In June 2000, Ubank (then Teba Bank), was granted a banking license, although its ownership remained in the form of a Trust managed by trustees who are elected by the National Union of Mineworkers and the South African Chamber of Mines. The beneficiaries of the Trust are the Bank`s customers.

In 2007, Ubank welcomed a new vision, mission, set of values and strategy. Essentially, this saw Ubank set itself up to become the “Workers Bank of Choice”.

In October 2010, the name of the bank was changed to Ubank and launched to the public. Since the birth of the new brand and strategy, various initiatives to improve and expand the business have been delivered.

Ubank is driven by a social consciousness that underpins all they do – their customers are their owners and UBank exists to serve them through the provision of financial services that meet their changing needs and improve their lives. UBank is proud of their long association with the mining industry, including mineworkers, mining companies, the National Union of Mineworkers and the Chamber of Mines who have played a significant role in the development of this Bank.


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Quick Pay Day Loan Overview

  • Minimum Loan Amount: R500
  • Maximum Loan Amount: R3,000
  • Minimum Length of the Loan: 5 Days
  • Maximum Length of the Loan: 37 Days
  • APR: 60%

Wannaloan?™ is all about Pay Day Loans

You can apply from R500 up to R3 000, qualify and get paid the same day!

Wannaloan is so confident in this that they have trademarked themselves with,

SAME DAY. PAY DAY. EVERY DAY.™

You can use this easy slider tool to determine your loan amount and repayment time and Wannaloan?™ will deliver some up to date fees for your pay potential day loan. If you’re on Mobile, don’t hesitate to check out their easy to mobile-site.

Wannaloan?™ also promises:

  • Paperless Application
  • First Five days interest fees
  • Payout within one hour
  • Three simple steps to getting paid

Why Wannaloan?™ is Here

Wannaloan™ was created for a sole purpose. They noticed that there was a growing number of South Africans who struggled to access short-term credit. Therefore, the Wannaloan?™ mission is to create a solution that will lift the burden of denial-of-credit for the little things by providing small loans over short periods. In the face of the deficient climate, Wannaloan?™ quickly became South Africa’s premier payday lending company.

The Wannaloan?™ head office is nestled in the sunny city of Cape Town, South Africa. Their team works tirelessly to provide payday lending solutions to the South African public. Wannaloan?™ is part of the enterprising company Blackbird Group which is an established leader in the financial industry.

“Although our processes are automated and communication instant, Wannaloan?™ will constantly strive to champion the customer experience”- says CEO and founder, Nathan January.

As a uniquely South African company, they are committed to responsible lending and advise to only borrow as much as you can afford to pay back. Read more about the Wannaloan?™ Responsible Lending Practice. If you have any further questions.


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Quick Pay Day Loan Overview

  • Minimum Loan Amount: R100
  • Maximum Loan Amount: R8,000
  • Minimum of the Loan: 1 Month
  • Maximum Length of the Loan: 2 Months
  • APR per day: 0.17%

Wonga Loans boasts a quick and easy loan application process with some simple steps

  • Apply online 24/7
  • No hidden charges
  • No branch visits
  • Also available on mobile

There’s a cool feedback statistic that will quickly show you whether Wonga is the loan provider for you. Wonga offers flexible, short term loans that are split into loans of up to R3,000 for new customers and loans of up to R8,000 for existing customers.

You can use their slider tool to have a glance at what your repayment and interest will look like. If you’ve sniffed out some suspicious behaviour, they also have a hotline on their homepage immediately available as a number or mail to make sure you’re not being sharked by a Wonga imposter!

How Wonga Loans Work

Applying for a Wonga Loan is simple because their unique service is online from start to finish. To kick-off, use the sliders on the homepage to decide exactly how much cash you want to borrow and how many days you need it for. Wonga will show you the full cost and, once you’re happy, you can click apply. They will then ask you for some personal details and banking information for their super-speedy credit check.

Wonga usually provides an answer almost instantly and, if approved, they send the cash to your bank before you know it! Wonga promises that this makes them the fastest and most flexible lender in the land.

On your chosen date, Wonga collects a single payment from your bank account, so you just need to ensure the required funds are available. You can initially request any amount up to R3,000 and, should you choose to use Wonga more than once and providing you use the service responsibly, they may gradually increase your Wonga trust rating, giving you more borrowing flexibility if you ever need it. Once you have an account, you’ll find the application is even faster next time too!

If you would like to learn some more on Wonga Loans, view the informative infographic and their online tool on the How it Works page. Also, learn the Wonga perspective on some of the following:

  • Short Term Credit
  • Transparency
  • Failure to stick to your side of the deal

We definitely recommend having a look at the Wonga Advice page to learn more about loans and also score a free pdf guide called the Quick Guide to Borrowing.

Some Background on Wonga

Wonga was founded in London by two South Africans who wanted to the turn the credit market upside down. They spent three years perfecting the service in the UK, building it into one of the most innovative credit businesses around. Now they feel it is good enough to help customers in other regions, so it is only natural for them to want to bring it home to Mzansi. It is Wonga’s mission to solve people’s short term and urgent cash flow problems with an equally short term and responsible solution.

Wonga plans to transform the South African credit market by offering small, short term loans online with more speed, convenience and flexibility than banks, traditional lenders and other websites. They remove the complexity and inflexibility consumers face whenever they need to borrow some cash in a hurry. They are a registered Credit Provider and are regulated by the National Credit Act.

Wonga Credibility

  • 99% of Wonga customers would recommend Wonga to their friends or family
  • 98% of Wonga customers found the service easy to use
  • 97% say they would use Wonga again if they needed another loan
  • 90% say using Wonga is either much better or better than using other credit providers

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Quick Pay Day Loan Overview

  • Minimum Loan Amount: R2,000
  • Maximum Loan Amount: R75,000
  • Minimum of the Loan: 12 Months
  • Maximum Length of the Loan: 60 Months
  • APR: 22.65%

Get a Resolving Personal Loan from Woolworths

There are times when all of us could use some extra cash to cover unforeseen expenses.

A Guide to the repayments

The Woolworths choice of repayment periods and interest rates are designed to make it easier for you to manage your personal finances.

Please note: The examples are provided for illustrative purposes only. The actual calculations for your loan will be shown on the Pre-Agreement statement and quotation.

Revolving Personal Loan

  • Flexible repayment terms of up to 60 months
  • Re-use all the money that has been paid back towards the loan
  • Low monthly service and initiation fees
  • Flexibility to increase your limit should you need extra funds
  • Flexibility to settle early without penalties
  • Flexibility to make additional payments towards your loan
  • Convenience of accessing cash through our interactive voice message system
  • Woolworths Personal Loan Pricing

Monthly Service Fee

  • Revolving personal loans: R32.00
  • Fixed term personal loans: Up to R53.00

Initiation Fee

Revolving personal loans: Up to R550.00

Collection Fee

  • Revolving personal loans: As per requirements of the Debt Collectors Act, No. 114 of 1998
  • Fixed term personal loans: As per requirements of the Debt Collectors Act, No. 114 of 1998

Optional insurance is available

For your peace of mind, Woolworths offers you a choice of two Balance Protection Insurance options, Basic Balance Protection and Comprehensive Balance Protection.

Cash In 48 Hours

Once the loan application has been approved, you will receive cash into your bank account within 48 hours.

Additional Funds

You can access cash on your loan account by contacting their call centre on 0861 50 20 10.

Interest

  • Interest will be charged according to the National Credit Act (NCA) and will never exceed the maximum allowed by the NCA.
  • The interest rate charged is a variable interest rate that is linked to the Repo Rate which may change from time to time.

Easy Payments

  • Payment by a monthly debit order is compulsory.
  • Additional payments can be made at any Woolworths store, deposited into any Absa bank branch or by Electronic Funds Transfer (EFT).
  • Electronic Statements
  • You can select to receive your monthly statements via email.

Easy Application

Just complete the application form online or apply in-store.

Peace Of Mind

Woolworths offers optional Balance Protection to cover you for death, retrenchment, critical illness and disability. Find out about your options.

To Qualify for a loan, You Must

  • Be 18 years of age or older
  • Have a valid South African ID
  • Be permanently employed
  • Latest three payslips or the last three months’ bank statements
  • Have a bank account in your name

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Quick Personal Loan Overview

  • Minimum Loan Amount: R1,000
  • Maximum Loan Amount: R100,000
  • Length of the Loan: 6 Months
  • Repayment Length of the Loan: 54 Months
  • APR: 32%

Loans up to R50,000

Get a loan of up to R50,000, with the whole process done online.

It’s a simple and easy process to apply for a loan with Bayport. All you need to do is click here to register on their portal and verify your account (all in a matter of seconds). You are then only minutes away from getting approval on your requested loan.

Once you are approved, you will continue with the steps in the loan application process to complete the required information and upload the documents required.

Loans up to R100,000

Get a loan of up to R50,000, with the whole process done online.

You could get a personal loan of up to R100 000. Bayport offers affordable structured repayments and a fixed interest rate throughout your loan term.

So whether you need a loan for renovating, starting a business, paying off debt, a study loan or even funding a special family event, Bayport will be able to help. A Bayport personal loan could make all the difference to your cash flow.

It’s easy to apply for a Bayport personal loan with their simple application process and personalised service.

To apply for a loan online, answer some simple questions and complete your details on the next step. Once you submit your details, one of their friendly call centre agents will call you back to complete the loan qualification and application process step by step.

Some Background on Bayport

Bayport Financial Services was established in 2004 and has rapidly become one of the largest non-bank providers of unsecured credit and allied products in South Africa. Through their nationwide multifaceted distribution footprint, they are able to effectively service the needs of their clients through their loans and insurance product offerings – no matter how remote their client location

Bayport is about building lasting relationships with their clients, communities and stakeholders based on trust and an understanding of their overall expectations. Utilizing a combination of their far-reaching branch infrastructure, their mobile consultants and call centres, there are very few lives they cannot touch.

With the implementation of a proven information technology platform and a proficient risk and credit assessment competency, Bayport has been able to substantially grow market share whilst maintaining credit quality.

As a result of commitment and depth of experience of shareholders, board and management team, Bayport has been able to embrace the opportunities presented by the National Credit Act (NCA), and an increasingly vibrant unsecured credit market.

Bayport’s role as a responsible member of society is to provide services of the highest standard.


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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.

Mission

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.

Vision

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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Quick Short Term Loan Overview

  • Minimum Loan Amount: R100
  • Maximum Loan Amount: R2,500
  • Length of the Loan: 2 Days
  • Repayment Length of the Loan: 45 Days
  • APR: 60%

For small loans, Boodle is a great option.

Boodle has gotten it right by delivering loans in an extremely simple process. They quickly show you how it works through their Loan Repayment Calculator and somehow get it right to give you the nitty-gritty details without you feeling overwhelmed.

How it Works

Boodle has created a simple 6 step process that will get you your small loan in a jiffy:

  1. They want to know all about you.
  2. Some small background steps.
  3. An affordability check to make sure you don’t get a bad credit record.
  4. Some details, like banking info and a summary of your loan application .
  5. Your official Boodle loan quote which you can accept.
  6. Boodle delivers the money in your bank account.

You can click here to view these simple steps on their website (which we strongly recommend, as they say it best) and apply for a loan online.

What is the Boodle Way?

Boodle is a mish-mash of techies, microfinance gurus, creatives, customer care specialists and super smart analysts, and all have one thing in common: To bring you the best lending platform around!

They’re committed to responsible lending and are passionate about satisfying your short-term financial requirements and delivering you a product second to none!

Boodle is a registered Credit Provider and is regulated by the National Credit Act 34 of 2005. Plus, they believe in transparency all the way – Boodle tells you how much you pay from the start – no ‘we forgot to mention’s, we promise! Just quick, safe, convenient loans chop chop!

Basics on Boodle

Boodle is a microlender that provides unsecured loans (check out Boodle Lingo for clarity on anything). There are no physical documents in their loan applications, it’s all ONLINE. That’s right, say goodbye to agents, call centres, telesales, branches or brokers – just you, Boodle and same day approval.

Simply apply now and with automated, quick decision-making processes, you could have Boodle in your bank within the hour. No bank statements, proof of residence or other time-consuming documentation needed. Plus you can see all of your loan details such as a statement, terms and conditions, repayment terms, settlement amount, interest rate and fees on the website. Anytime, Anywhere!

And should you not be happy about anything, give Boodle a call. They have the most amazing customer service and specialists that will help you with anything at all. Boodle wants you to have the best customer experience EVER – something evident from their website.


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Quick Personal Loan Overview

  • Minimum Loan Amount: R1,000
  • Maximum Loan Amount: R15,000
  • Length of the Loan: 6 Months
  • Repayment Length of the Loan: 18 Months
  • APR: ?

Bruma Finance Personal Loans

You never know when you may need a little extra finance. Life is unpredictable that way. Be it the cost of education, a coat of new paint, a wedding or even a funeral. Sometimes the financial burden just seems endless. It is for this reason that the team at Bruma Finance goes out of their way to assist clients and lighten the load as best as they can.

For your convenience, Bruma Finance offers affordable rates with their personal loans ranging from R1000 to R15000 and over 6 to 18 month periods. They pride themselves in same day response turnaround times for loan applications. Once the personal loan is paid out, the money is yours to spend as and when you need it.

One of their specialised consultants will call you the very same day once you’ve filled in the details following the apply button and assist you with the rest of your application. Make sure that you have a copy of your ID handy as well as your latest two months bank statements and a copy of your most recent payslip.

Bruma Finance Debt Consolidation

At Bruma Finance, they are well aware that sometimes having multiple loans becomes difficult to track and manage. Moreover, the financial burden is often overwhelming and making the monthly repayments can at times prove to be strenuous. It is for this reason that they offer their clients debt consolidation loans up to R15 000.

This means that Bruma Finance settles client’s existing debts on their behalf, giving a client only one affordable repayment to make each month. Once they have settled their client’s third party debts, the remaining balance of the Bruma Finance loan is paid directly into the client’s bank account.

Bruma Finance also offers clients the opportunity to obtain a further loan from them. This consolidation product enables existing clients to settle their current Bruma Finance loan and obtain additional finance. That means more finance with only one monthly repayment.

Bruma Finance is serious about Responsible Lending

Bruma Finance is a registered member of the NCR and complies with all the legislative requirements in terms of the National Credit Act. It is therefore not surprising that from the start to finish, their communication and processes are comprehensive and transparent. This in turn enables Bruma Finance to fulfil their clients’ financial expectations timeously and responsibly.

Responsible lending is not just a principal but is entrenched in the operational processes:

  • Documentation and Agreements are easy to understand.
  • The Quotations we issue are valid for 5 working days.
  • Full disclosure is provided in respect of the principal debt, fees levied and interest rates charged.
  • Credit Bureau enquiries are performed with the consent of clients.
  • We provide feedback on all applications.
  • Affordability calculations are performed to ensure that we don’t over indebt clients.

A little bit about Bruma Finance

Bruma Finance has been providing credit to South Africans since 1997. From the start, they realised that their clients are the heart of the Bruma Finance business. Since inception, the main focus has been to put clients first and ensuring that clients get the credit (get it?) that they deserve. In an ever expanding market, Bruma Finance has differentiated themselves by building their business on a foundation of trust, honesty and integrity. The Bruma Finance ethos has ensured that a loyal customer base has and continues to grow month on month.

Their methodology extends to highly efficient call centres, as well as branches and a network of agents nationwide. Continuous training and development of staff has ensured that Bruma Finance conducts itself within the spirit of the National Credit Act (NCA) and is fully committed to responsible lending.

Bruma Finance is a balance between highly skilled employees and dynamic systems and processes. This combined with their dedication to customer service ensures that once approved, loans are paid out the very same day.


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Quick Personal Loan Overview

  • Minimum Loan Amount: R1,000
  • Maximum Loan Amount: R20,000
  • Length of the Loan: 6 Months
  • Repayment Length of the Loan: 12 Months
  • APR: ?

Capfin Loans from R1,000 to R20,000

Applying for a Capfin Loan is sooo eeeasy! All you need is your SA ID, your latest proof of income, and to visit your nearest PEP or Ackermans store.

Loans of 6 or 12 Months at PEP or Ackermans.

Capfin believes that there is a better way than the bank way. There is no need to stand in looong bank queues, and sign piles of paper to apply for a short term loan. All you need is your SA ID and latest proof of income, to be permanently employed and paid monthly into an SA Bank account.

Capfin’s 6 and 12 month loan products are the result of years of refinement and conversations with their more than 3 million former and current customers, to understand what they need and when they need it.

Capfin trusted partners, PEP and Ackermans, provide customers with the assurance that they are working with some of South Africa’s most well known and trusted retailers. Through their 2500+ stores, their customers enjoy all the advantages of not having to go to a bank; from better opening hours, to shorter queues and friendly service.

And don’t forget, they are there to help you with every step of your application. Capfin consultants speak all 11 official languages so they can help you in your language, plus their existing customers enjoy FREE access to CapfinDirect, a self service tool online and via USSD.

See what your Loan May Cost

There’s nothing easier than knowing what your repayment may be, should you qualify for your new loan.

Some Capfin FAQ’s

HOW MUCH CAN I APPLY FOR?

You may qualify to apply for a loan of up to R20,000, based on the outcome of your credit profile and payment behaviour.

HOW LONG DO PAY-OUTS TAKE?

Your loan will be paid out within 48 hours of approval, to the bank account details you have provided.

HOW CAN I PROVIDE CAPFIN WITH MY LATEST PROOF OF INCOME?

There are many ways to send your latest proof of income to Capfin, these are:

  1. Scan your latest proof of income along with your SA ID at any PEP or Ackermans store, nationwide.
  2. Upload your latest proof of income via https://docs.capfin.co.za on your phone by taking a photo of each page, or using CapfinDirect from any device.
  3. Email your latest proof of income to docs@capfinmail.co.za, with your SA ID number in the subject.
  4. Fax your latest proof of income to 0866880000 with your SA ID number written on it.

CAN I APPLY FOR MY LOAN ONLINE?

Yes, all existing Capfin customers can apply for a loan via CapfinDirect. All you need is a valid email address, a cellphone and your SA ID number. If you haven’t scanned your latest proof of income in the past 30 calendar days, it would best that you have it with you to scan it, or photograph it using your cellphone, it’s sooo eeeasy!

CAN I APPLY FOR A LOAN ONLINE IF I AM A NEW CAPFIN CUSTOMER?

No, all first applications to be a Capfin customer need to take place via your nearest PEP or Ackermans store, with your SA ID, cellphone and latest proof of income

HOW DO I SETTLE MY ACCOUNT WITH YOU?

You can contact the Capfin call centre or use the CapfinDirect USSD facility to obtain a settlement quote, and make payment before the expiry date of the quote via the following options:

  1. Pay@ in a PEP store
  2. Direct Deposit
  3. EFT

HOW LONG IS THE SETTLEMENT QUOTE VALID FOR?

The settlement quote provided to you by Capfin is valid for 7 business days and you must pay the settlement balance before the expiry date.

WILL NON-PAYMENT AFFECT MY CREDIT RATING?

Non-payment will have a negative impact on your credit rating.

WHY IS MY SETTLEMENT QUOTE DIFFERENT TO MY BALANCE?

Your settlement quote includes the unpaid balance of the debt as well as all unpaid interest and fees that accrued up to the settlement date but which have not yet been added to your account.

WILL MY LOAN TERM BE SHORTER IF I PAY MORE ON MY MONTHLY INSTALMENT?

Your loan term will reduce if you make additional payments.

Who is Capfin?

Based in the Northern Suburbs of the Western Cape, Capfin is the South African brand of the global Southern View Finance group of companies.  They offer technologically-driven, cost effective and accessible financial services products and solutions to South Africans through their partnership with PEP and Ackermans.

Registered Credit Provider

Capfin is the South African brand of the international Southern View Finance group of companies, providing financial services. They are a registered credit provider with the National Credit Regulator of South Africa (NCR). Their National Credit Regulator Credit Provider (NCRCP) number is 6537. For more information on the work of the National Credit Regulator please visit their website.

Capfin Partners

Capfin has partnered with PEP and ACKERMANS to provide quick, simple and smart personal loans via their retail stores.

As some of South Africa’s most trusted retail brands, you can be assured that when you deal with Capfin, you are working with a nationwide team of retail and finance professionals, ready and able to assist you.

What Does Capfin Believe?

Their people, products and services are better than the bank way for many reasons:

  • All you need is your SA ID and latest proof of income to apply
  • No need to stand in long bank queues
  • Capfin calls you
  • Their consultants speak all 11 official languages
  • Customers enjoy 24/7 access to CapfinDirect, a FREE self service tool
  • Their customers give them a 97% approval rating
  • Secure applications at any PEP or Ackermans, nationwide

Capfin is continually looking for new and exciting ways to improve the lives of their customers. From web and USSD applications to new financial services offerings in South Africa, and global expansion. They are always innovating.

Capfin encourages new customers to talk with them about how Capfin can help them bring a better than the bank way into their lives. Watch Capfin for new announcements on products and services.


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Quick Personal Loan Overview

  • Minimum Loan Amount: R3,000
  • Maximum Loan Amount: R120,000
  • Length of the Loan: 18 Months
  • Repayment Length of the Loan: 60 Months

Get a Personal Loan of up to R120,000 within 48 hours with Clientèle

When getting a loan with Clientèle:

  • You can apply for any amount from R3 000 to R120 000 in increments of R1 000.
  • You have 18 to 60 months to repay the loan.
  • If you are approved, you can use your loan however you like – school fees, much-needed car repairs, renovations, account consolidation and more!

Enjoy Fixed Interest Rates:

  • The interest on the personal loan will be fixed at the current Clientèle rate for the full term of the loan period.
  • With no fluctuations in the interest rate, the monthly instalment is always the same, allowing you to plan ahead.

Quick and Easy Loan Application:

  • No face-to-face interviews needed.
  • The loan is unsecured.
  • Paid by direct deposit into your bank account.
  • If approved, the loan will be finalised in 48 hours.

To Qualify for a Personal Loan you must:

  • Be 18 years or older.
  • Be a South African resident.
  • Earn a minimum permanent salary of R2 500 per month or more (proof of income will be required).
  • Clear credit references.
  • When applying, have your ID number and your bank account details where your salary is paid into at hand.

Peace Of Mind – The Personal Protection Plan

Clientèle Loans cares about your financial wellbeing, so they have included the Personal Protection Plan which enables your outstanding loan balance to be settled in the event of your death, permanent disability or if you contract a dreaded disease.

A temporary disability and retrenchment will qualify you for limited cover where your premiums are covered for up to six months. The choice of any other Personal Protection Plan is yours, but it must have coverage equivalent to the Clientèle Protection Plan.

Your personal loan is arranged exclusively for you through Clientèle Loans Direct and Direct Axis, established authorised Financial Services Providers in South Africa. Lending responsibly are their goals and are done in compliance with the National Credit Act No.34 of 2005.

All requests are considered, but the final loan amount allowed will be subject to your personal financial profile and credit approval. This is to stop you over committing yourself to a loan that you cannot repay.

Some Background on Clientèle

The Clientèle Limited Group is a diversified financial services group, listed on the Johannesburg Stock Exchange and is one of South Africa’s leading direct distributors of financial service products. Over the past 20 years, it has been successful in offering convenient and easy to understand financial services products to the public through various direct marketing and sales distribution channels.

Clientèle Limited’s business model and the execution thereof has resulted in Clientèle Life becoming the fastest growing Life Office in South Africa in relative terms. This model has provided shareholders with sustained growth and returns on their investments with Return on Shareholder Equity consistently exceeding 50%. Clientèle has also consistently been rated in the top 50 companies for sustainable growth and return on shareholder interests on the JSE.

Why Clientèle

  • Credibility: They have been providing South Africans with affordable insurance products for over 20 years.
  • Innovation: They are the first direct marketer of life insurance products in South Africa.
  • Reputation: They are a respected and trusted name in insurance.
  • Customer service: Their service centres assures you of friendly and efficient service and assistance with your insurance needs.
  • Simplicity: They keep things as simple and easy as possible and make buying insurance clear and simple.
  • Valuable products: They have cultivated an understanding of the needs for financial protection and investment for South Africans from all walks of life. These needs are well provided for in their comprehensive yet uncomplicated range of products, which include life, dreaded diseases, hospitalisation, investment and legal-related products.

Vision

To be South Africa’s most reliable and valued financial services partner.

Mission

Safeguarding your world with compassion.

Values

  • Respect: Treating colleagues, clients and other stakeholders with respect, courtesy and fairness.
  • Customer Excellence: Connecting with their clients in a professional, ethical and focused manner.
  • Passion: Approaching every task with determination, energy and commitment.
  • Integrity: Adhering to high moral standards and being honest in all that they do.
  • Teamwork: Working effectively with others, utilizing individual and combined strengths to succeed.

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Quick Personal Loan Overview

  • Minimum Loan Amount: R250
  • Maximum Loan Amount: R3,000
  • Minimum Length of the Loan: 1 Month
  • Maximum Length of the Loan: 6 Months

Simple, stress-free loans up to R3000 with Cobol

Easy online application

  • Approval in minutes
  • Same-day cash
  • 6 months to pay

Trusted by 1000’s

  • South Africans have been trusting Cobol for financial assistance since 2006.

Safe and Secure

  • Rest assured, only top-notch security is good enough for Cobol customers.

How it Works with Cobol

Do I qualify?

  • South African citizen
  • Permanently employed

Apply Online

  • Easy online application form
  • Accept the provided quote

Get paid

  • Cobol deposits the loan amount into your bank account

Personal Loan Overview

The Cobol streamlined application process is simple and you will know within minutes whether or not you qualify for a loan. Once your details have been submitted, their consultants will verify the information and an offer will be sent to you over email. Should you accept the offer, via email, the money will be deposited into your account on the same day – ensuring a completely hassle free process.

In a bid to keep things affordable, Cobol aims to keep fees and interest rates as competitive as possible and also offer you up to six months to repay the loan amount.

It is essential that you consider your budget before applying for credit, and make sure you select an offer that fits your affordability.

Short Term Loan Overview

When it comes to short-term loans, Cobol has fast and effective solutions to offer you.

With loans of up to R3000 available, over terms of up to 6 months, you can get the cash when you need it and don’t have to worry about a large monthly debit order. To find out what loans you qualify for, you can simply complete the quick application process online now. Once you have filled in all of the relevant details, Cobol will verify your information and email their loan offer to you.

You can reply to accept the offer and they will deposit the cash directly into your bank account – on the same day! Your repayments will be collected on a monthly basis via debit order until the loan is paid in full. To qualify for any of Cobol’s short term loan offers, you will need to be a South African citizen with permanent employment – earning at least R3000 per month.

Be Smart with Cobol Advice

Getting into debt is easier than getting out of it. Please take a moment to assess your situation.

Fees and interest can make credit expensive, especially if you borrow more than you can afford. Cobol loans are best when used to pay for an unexpected expense like a medical bill or car repairs. It can help you get back on the road and gives you time to work the expense into your budget.

If you are over-indebted, consider applying for debt counselling. You can find a registered debt counsellor near you here: www.ncr.org.za

If in doubt, seek advice before making any decisions.


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Quick Personal Loan Overview

  • Minimum Loan Amount: R4,000
  • Maximum Loan Amount: R150,000
  • Minimum Length of the Loan: 24 Months
  • Maximum Length of the Loan: 72 Months
  • APR: ?

Quick Consolidation Loan Overview

  • Minimum Loan Amount: ?
  • Maximum Loan Amount: R150,000
  • Minimum Length of the Loan: ?
  • Maximum Length of the Loan: ?
  • APR: ?

With DirectAxis, you can apply for a Personal Loan of up to R150,000 to use however you like

What do you get with a DirectAxis Personal Loan?

When you take out a loan with DirectAxis, you’ll deal with an authorized Financial Services Provider, with many years of experience in the financial services industry. DirectAxis is all about minimizing your risk. So, you’ll only be approved for a personal loan that you can comfortably afford. Their priority is to give you the best offer they possibly can. All DirectAxis Personal Loans are unsecured loans which simply means that they won’t ask you to use your car or home, or any other asset as collateral. To further guarantee your security and peace of mind, all DirectAxis loans are subject to the National Credit Act No. 34 of 2005, to ensure responsible lending. They consider all loan applications. Every application is subject to credit approval.

How much do you need?

You can choose to take out a Personal Loan from as little as R4,000 or up to R150,000 (in increments of R1,000). The loans DirectAxis offers can be repaid over a term of 2 to 6 years. Better yet, once approved, your money could be in your bank account within 48 hours!

It’s up to you

You’re free to use the money however you like – you could use the money for home renovations, to pay for your child’s education or consolidate your retail accounts – the money is yours to use for whatever you may need it for.

You’re covered!

All DirectAxis loans include their Personal Protection Plan, which settles your outstanding Personal Loan balance in the event of your death, permanent disability or certain dreaded diseases. This plan also includes limited cover in the event of temporary disability and retrenchment. You can substitute the Personal Protection Plan with a policy of your choice, provided the cover offered is equivalent.

Fixed rates that never go up

Your repayments are fixed at their current interest rate for the full term of your personal loan. They never go up – no matter how much interest rates do!

It’s so quick and easy to apply

To speed up the application process, there are no face-to-face interviews or unnecessary paperwork. You can apply for a loan online, at any time, or alternatively over the phone 7 days a week, from 8 am to 8 pm.

Fill in the DirectAxis online application for an instant answer!

No waiting around when you fill in our quick online application. Once you’ve applied, you’ll get a decision on whether you qualify – in seconds.

A loan that you can afford

DirectAxis takes your current financial circumstances into consideration and will only approve a loan amount that’s right for you – a loan that you can comfortably afford to repay and is in line with your personal financial profile.

What you’ll need to apply?

  • A clear credit reference
  • A regular monthly income of at least R3,000 (proof of income will be required)
  • Your ID number
  • Your bank account details into which your salary is paid

Why DirectAxis?

  • Convenient & Quick to apply
  • Money in next to no time
  • No need to provide any collateral
  • Fixed repayments – for full term of your loan

Debt Consolidation Loans of up to R150,000 that can improve your Cash Flow

Benefits of a  Consolidation Loan

  • Improved Cashflow
  • Fixed Repayments
  • Single Monthly Service Fee
  • Simpler Finances

What will you need to apply?

  • Clear Credit Reference
  • South African ID
  • Proof of Income
  • Bank Account Details

Learn more about how a Debt Consolidation Loan works

A consolidation loan is designed to simplify your finances and increase cash flow. DirectAxis will only grant you a loan that you can comfortably afford to repay based on your personal financial profile and subject to credit approval. With your permission, they will settle all or some of your loans, retail and credit card accounts.

The result is simplicity: a single monthly payment at a fixed interest rate – and because you’re taking the loan over a relatively longer term, your monthly repayment could be lower. In fact, South Africans who consolidate their accounts with DirectAxis increase their cash flow by an average of R1,900 every month!

Enjoy the easy to follow steps and infographics on the DirectAxis website to learn more about their Debt Consolidation Loans, or to apply. You can also use their calculator to see how a DirectAxis loan can help you with your cash flow.

Some Background on DirectAxis

DirectAxis is a specialist financial services company that provide customers with a direct connection to loans and insurance. Launched in January 1995, they give you direct access to the financial products you need, in a way that is most convenient for you.

To help DirectAxis do this, they draw on the diverse knowledge and expertise of their shareholder, FirstRand Bank Limited. DirectAxis operates one of the most technologically advanced call centres in the country which enables them to bring their products directly to you in a friendly, convenient manner.

At DirectAxis, they are committed to protecting your interests through strict adherence to the highest standards and business principles – and as a member of the Direct Marketing Association of Southern Africa and a member and patron of the Institute of Direct Marketing. In addition, DirectAxis has always promoted responsible lending and are compliant with the National Credit Act.

After more than a decade in operation, DirectAxis has grown from strength to strength. They have written more than 1 million personal loans, serviced over 385 000 Car & Home customers and over 165 000 Life Insurance customers – and they remain committed to offering all their customers financial solutions that are tailored to suit their needs, whatever they may be.


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Quick Personal Loan Overview

  • Minimum Loan Amount: ?
  • Maximum Loan Amount: R150,000
  • Minimum Length of the Loan: ? Months
  • Maximum Length of the Loan: ? Months
  • APR: ?

directchoice is a free, no obligation comparison provider that gives you the choice.

You can apply for a personal loan of up to R150,000. directchoice will give you direct access to the funds you need and the freedom to spend them any way you like.

Apply for a directchoice loan with these 3 Steps:

  • Complete the Application
  • Compare Loan Choices
  • Sit Back and await your call

Why Loans Direct from directchoice?

  • They have a wealth of experience – since January 1995, they’ve approved more than 1 million personal loans.
  • They draw on the diverse knowledge and expertise of reputable shareholders like the banking partner, FirstRand Bank Limited.
  • They’re committed to the highest standards and business principles.

I’m interested. What next?

  • You must earn more than R2 500 per month and have clear credit references.
  • Find out instantly if you qualify and continue with the online application.
  • Have your bank account details into which your salary is paid on hand.

Apply for a loan by filling out the following application form on Loans Direct or get some tips from directchoice on taking out a loan.

Some Background on directchoice

Let’s face it – with the number of options out there it is really difficult to reach a conclusion when trying to decide where to go if you are looking for a financial services product. Even more so on the internet, where the options are seemingly endless and the list of providers goes on forever.

That’s where directchoice comes in.

At directchoice, they understand that whether you are sourcing a loan, life cover or short term insurance there will be a number of options available to you from a variety of providers in the marketplace. Their aim is to make your experience as straightforward as possible while still providing you with the choice and range of options you want and deserve to see.

Simple, efficient and comprehensive.

As a free, no obligation comparison provider, directchoice is sure to have an option that will cater for your individual needs – whatever your desire and whatever your circumstances. With a large number of loan products, a wealth of short term insurance options and unique direct life insurance products, you can be certain that by using directchoice, you’re sure to find something to suit your needs.

That’s just the beginning.

The best part of it all is that it is 100% free to use and you are under no obligation to use the products or services directchoice provides. So fill in an application form today and get a feel for the convenience, the range of options and quality of service that directchoice provides, all from the comfort of your desk. Trust directchoice to provide you with the choices you deserve to make your most important financial decisions.


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Quick Student Loan Overview

  • Minimum Loan Amount: ?
  • Maximum Loan Amount: ?
  • Length of the Loan: 12 Months
  • Repayment Length of the Loan: 12 Months
  • APR: 10,25%

Eduloan Student Loans

Eduloan is the only private financial company solely focussed on unlocking potential through providing educational finance and improving people’s lives by access to education. Since 1996, Eduloan has awarded 750 000 loans to the value of over R4 billion.

The Eduloan loan offering

Eduloan offers financing for all levels of tuition – school, university or college. Their loan offering also includes loans to cover outstanding balances, registration fees and to help you pay for all your study related items with loans for textbooks, accommodation, laptops, tablets and other relevant study equipment.

Some areas where the Eduloan loan offering will help you

  • Study Loans
  • School and tuition fees: all levels of tuition – school,
  • university or college
  • Registration fees
  • Exam fees
  • Outstanding fees
  • Study Tools
  • Textbooks
  • Technology (Laptops and Tablets)
  • Study Equipment
  • Accommodation
  • Eduloan offers loans to cover your accommodation during your studies.

Why choose Eduloan for a Student Loan?

  • Eduloan partners with key education providers ensuring super-affordable monthly repayments and low-interest rates.
  • Eduloan conveniently pays study fees directly to the institution.
  • No hidden costs – allowing you to budget effectively.
  • No lengthy repayment period – when you’re done studying, you’re done paying.
  • An automatic salary deduction option is available through the Eduloan Bursary and Fund management solutions.
  • You only need 4 documents to apply for one of the educational loans and Eduloan will get back to you within 48-72 hours.

How much will your student loan cost you?

You can view this Student Loan Page on Eduloan’s website to view some practical examples of what a student loan of R5,000, R8,000 and R10,000 will cost.

Keep the following in mind when looking at loans – Initiation fees and interest rates will vary depending on the institution of study and the applicant’s credit profile. Errors and omissions excepted. Eduloan Terms and Conditions apply.


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Quick Personal Loan Overview

  • Minimum Loan Amount: R500
  • Maximum Loan Amount:
  • R20,000
  • Length of the Loan: ? Months
  • Repayment Length of the Loan: 24 Months
  • APR: ?

Get a short term personal loan from Finbond Mutual Bank

R 500 – R 20 000 with up to 24 months to repay.

Benefits of a Finbond Micro Loan include:

  • Safe and Quick
  • Fixed monthly installments
  • No security needed

What you need to apply:

  • ID Book
  • 3-month bank statements
  • Latest pay slip
  • Proof of address

Some Background on Finbond Mutual Bank

Finbond Mutual Bank is a South African mutual and savings bank, owned by its depositors. Finbond Mutual Bank specializes in the design and delivery of unique value and solution based savings and credit solutions tailored around depositor and borrower requirements rather than institutionalized policies and practices.

Finbond Mutual Bank conducts its business through two divisions focussed on:

  1. Investment and Savings Products and;
  2. Micro Credit Products

Finbond Mutual Bank Investment and Savings products, which offer a superior above average rate of return, are offered nationally to investors and pensioners looking for guaranteed higher fixed income in the current environment of depressed low yields. Finbond’s strategy is to stimulate savings through offering superior investment and saving solutions by providing client shareholders with better interest rates, better products, and better service. All investment and savings products are marketed nationally in the print media and available nationally through Finbond Mutual Bank’s head office call centre in Pretoria.

Micro Credit Products, are offered nationally through Finbond’s 272 microfinance branches in South Africa to the under-banked and under-served market of more than 40% of the adult population in South Africa. These are people that are actively seeking credit solutions but remaining largely unattended and under-serviced due to the traditional banks’ concentration on the higher income brackets of the population. For the twelve months ended February 2014, Finbond granted loans of R539,3m and received cash payments of R 709,5m from clients. Finbond Mutual Bank has a credit client base of 330,000 and 45,000 active monthly clients.

Finbond commenced trading in 2003, was listed on The Johannesburg Stock Exchange in 2007 and received its Mutual Banking license from the South African Reserve Bank in 2012.

The bank’s management team has a long and successful track record within the banking, microfinance and financial services sectors. This, combined with well-developed systems, unique branded product offerings, advanced information technology and a well-trained and motivated staff, provide Finbond Mutual Bank with a sound platform for future growth.


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Quick Personal Loan Overview

  • Minimum Loan Amount: R8,000
  • Maximum Loan Amount: R24,000
  • Length of the Loan: 8 Months
  • Repayment Length of the Loan: 24 Months
  • APR: ?

FinChoice Personal Loans that are perfect for your needs – No-Fuss and Flexible.

Why choose a FinChoice loan?

With FinChoice, you choose the type of loan that best suits your needs, whether you’re looking for a short-term or a longer-term financial solution.

The 12 or 24-month personal loan

If you need a longer term financial solution, with smaller instalments,

choose the 12 or 24-month personal loan.

The 6 month flexi loan

If you need a short-term financial solution and don’t want to be tied down to a lengthy loan agreement, the 6-month flexi loan is just for you!

KwikAdvance

If you need short-term finance to help you manage your monthly cash flow, don’t wait for pay day – choose a KwikAdvance loan!

  • Take control of your monthly cash flow!
  • Choose your KwikAdvance from R100 right up to R2 000!
  • The money will be in your bank account within 24 hours.
  • Pay it back on your payday!

Qualify if you:

  • You are a HomeChoice customer
  • Have an RSA ID number and live in South Africa
  • Have a South African bank account

By taking out a loan with FinChoice, you will enjoy benefits like:

  • The FinChoice Protection Plan.
  • Access Additional Cash.
  • Choose to skip Loan Instalment.
  • Kwikserve Mobile Platform for managing your Loan.
  • Loan Approval in 10 Minutes.

Manage your loan account securely, anytime, anywhere on your cell phone

As a potential FinChoice customer, you will learn to know how simple it is to take out a loan with them. Now find out how best to manage your loan in a way that suits your needs, and your life. FinChoice KwikServe™ makes it easy for you to manage your loan account and puts YOU in control of your finances. Register for their FREE FinChoice KwikServe service to:

  • View your loan account balance.
  • Take out a new loan with KwikDraw® in only 2 minutes!
  • See how much money you have available to KwikDraw
  • Skip paying an instalment with KwikSkip® when times are tough.
  • Buy airtime for your pre-paid phone without using any airtime
  • Request a 1-month KwikAdvance™

Some Background on FinChoice

FinChoice is the financial services company within the HomeChoice Group, operating from their head office in Wynberg, Cape Town.

Their background

Born out of the HomeChoice legacy of quality, value and service of the highest standard, FinChoice offers South-African HomeChoice customers of good credit standing with a bank account, a range of personalised loan options.

What FinChoice offers

FinChoice offers a range of loan products, which can be taken over 6, 12 or 24 months, depending on the financial circumstances and needs of each customer. The most popular product is their 6-month flexi loan. In every way, the loan process has been designed to ensure the greatest possible convenience for you, the customer. You can find their advertising in the HomeChoice catalogue or you can contact FinChoice on 0861 346 246.

Their mission

To be their customers’ most trusted and flexible financial partner, enabling easy access to affordable products.

Their vision: What FinChoice is about

  • Customer Delight: They put their customers first in everything they do
  • Excellence: They will continuously assess, adapt and improve – while being accountable & professional.
  • Teamwork: They will be united in purpose & action, turning their diversity, skills & experience into a source of strength.
  • Integrity: They will be transparent in their dealings – upholding moral, legal & ethical codes.
  • Innovation: Through their courage and initiative, they will identify and implement new opportunities and ideas that will successfully shape their future.


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Quick Personal Loan Overview

  • Minimum Loan Amount: R1,000
  • Maximum Loan Amount: R150,000
  • Length of the Loan: 1 Months
  • Repayment Length of the Loan: 60 Months
  • APR: 32%

Quick Student Loan Overview

  • Minimum Loan Amount: R4,000
  • Maximum Loan Amount: R80,000
  • Length of the Loan: 12 Months
  • Repayment Length of the Loan: 12 Months
  • APR: 9,25%

A FNB Personal loan

As an existing customer, you could save on your monthly repayments when you switch your loans to FNB. Reduce the hassle of paying multiple credit providers and simplify your monthly repayments.

What does the Personal loan offer me?

  • A loan up to R150 000
  • Flexible repayment terms up to 60 months
  • A personalised interest rate

What this allows me to do:

  • Take a break from your payments in January*
    • * If you keep your loan account up to date you will automatically get a payment break every January.
  • Pay zero penalties when you settle your loan account early*
    • * FNB will not charge you any penalties if you settle your loan account early.

5 Benefits of the FNB Personal Loan (or what you’re paying for):

  1. Customer Protection Plan
  2. Flexible Repayment Period
  3. Switch your loan
  4. Quick Loan Payout
  5. Take a payment break

Your monthly instalments will also cover:

  • Capital Instalment
  • Initiation Fee
  • Service fee
  • Interest

FNB Requirements for a Personal Loan:

  • 18+ years.
  • A permanent resident of South Africa.
  • Permanently or self-employed.
  • Your salary is paid directly into your bank account.

A FNB Student Loan

A FNB Student Loan has ideal cover for your financial needs, giving students and parents (also referred to as the “principal debtor”) a sense of comfort in knowing that funds are available for further studies.

Whether you are a first-time student or looking to further your studies, getting a new qualification means that there is more on your mind. With FNB, you can focus on the exams, essays and modules while FNB balances the books.

What the Student Loan covers:

  • Tuition fees
  • Books
  • Campus Accommodation

Features and benefits include:

  • Service only the interest portion while the student completes their studies and start repaying interest plus capital up to 6 months after the student graduates.
  • Personalised interest rate
  • Access to loans from R4,000 to R80,000*

*A new application is required for each year of study and is subject to a credit and affordability assessment, which will determine what you qualify for. It is strongly recommended that you keep finance low to avoid the risk of not being able to secure finance for the entire duration of the student’s studies.

Make sure you’re covered!

The student and the principal debtor must be covered. Insurance cover is compulsory and you may take the FNB Customer Protection Plan, which covers you and the student in the event of death and permanent disability. Alternatively you may cede a suitable replacement policy if you wish to use your own insurance cover.

Qualifying criteria:

  • The principal debtor must be employed
  • The student must be registered with a South African Tertiary institution
  • The principal debtor should be able to afford the monthly repayments and earn a minimum income of R6 000 per month.

What documents do you need?

  • Copies of the principal debtor and student’s green bar-coded South African ID’s or Smart Cards
  • Latest payslip
  • Proof of residence
  • Proof of enrolment from the educational institution
  • If you do not bank with FNB, latest three months bank statements
  • If you are self-employed latest six months bank statements and last annual financial statements

The Customer Protection Plan

Life can be very unpredictable.

In the event of your death, dread disease, retrenchment, permanent or temporary disability, the Customer Protection Plan will ensure that you are taken care of. Alternatively you may cede a suitable replacement policy if you wish to use your own insurance. Credit insurance is mandatory if you are repaying your loan. Note that should you take a Student loan, both principal debtor and student will need to be covered.

The FNB Terms, Conditions and Rules apply.

FNB Roots – Some Background on FNB

FNB is the oldest bank in South Africa, and can be traced back to the Eastern Province Bank formed in Grahamstown in 1838. Today, FNB trades as a division of FirstRand Bank Limited.

When looking at FNB’s history, two things, in particular, stand out. The first is a story of survival – different circumstances in South Africa have posed many great challenges in the South African banking history, all of which FNB has successfully met. This track record provides a strong foundation for future challenges. The second is a story of people – the FNB history has always been firmly influenced by the needs of the people we serve.

The Acacia tree in the FNB brand logo is a suitable representation of its history. Their roots run deep in South Africa and have grown thanks to a commitment to serving the needs of their clients and communities.

A landmark development in FNB’s history took place in 1998 when the financial services interests of Rand Merchant Bank Holdings and Anglo American were merged to form FirstRand Limited. In the process, FNB was delisted from the JSE on 22 May 1998 to become a wholly-owned subsidiary of FirstRand, which was listed on the JSE on 25 May 1998. On 30 June 1999, the banking interests of FirstRand formally merged into a single entity to form FirstRand Bank. FNB, WesBank and RMB now trade as divisions of FirstRand Bank.


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Quick Pay Day Loan Overview

  • Minimum Loan Amount: R500
  • Maximum Loan Amount: R4,000
  • Length of the Loan: 7 Days
  • Repayment Length of the Loan: 45 Days
  • APR: 60%

GetBucks provides Short Term Loans and helps you manage your money better

They have a simple three step process:

  1. Choose your Loan
  2. Confirm your Identity
  3. Get your Bucks

You can use this simple loan calculator on their homepage to choose your loan and repayment terms.

How it Works with GetBucks

Few companies provide infographics and step by step visuals to show what’s in store for you. Below is just a summary of the GetBucks process.

  1. Sign-Up & Verify Account
  2. Credit Checks & Loan Offer
  3. Finalise Loan & Schedule Payout
  4. Get Your Bucks Fast
  5. Trust Levels with GetBucks

GetBucks Trust Level

GetBucks focuses a lot on trust. They’ve created a page that takes you through their levels of trust by taking a visual tour on an elevator. You can also view some testimonials on the Trust Level Page.

As a potential and existing customer of GetBucks, you get rewarded with better loan offers as you show you are trustworthy with your other loans and your past credit records. These levels will allow you to not only take out pay day loans, but bigger personal loans as well. Here is a short overview of the Trust Levels and the Loan Rewards:

  1. Level 1 – R4,000 Max Amount over a 1 Month Max Loan Term
  2. Level 2 – R5,000 Max Amount over a 2 Month Max Loan Term
  3. Level 3 – R6,000 Max Amount over a 3 Month Max Loan Term
  4. Level 4 – R8,000 Max Amount over a 6 Month Max Loan Term
  5. Level 5 – R10,000 Max Amount over a 6 Month Max Loan Term
  6. Level 6 – R16,000 Max Amount over a 6 Month Max Loan Term
  7. Level 7 – R24,000 Max Amount over a 6 Month Max Loan Term

Contact

If you have any questions, GetBucks has a dedicated support system weekdays and on a Saturday, as well as a live chat option on their option which delivers fast answers and support! You can view their support help centre here with questions and answers to many questions.

Some Background on GetBucks

GetBucks started in 2011, in South Africa and have since helped 212,500 people with short-term financial needs. They are now in a total of 9 countries which includes:

  • South Africa
  • Botswana
  • Spain
  • Poland
  • Kenya
  • Malawi
  • Zimbabwe
  • Swaziland
  • Zambia

The GetBucks Promise

GetBucks has spent a lot of time refining their process to provide you with the simplest and quickest short-term finance products available today. GetBucks is a business that specializes in extending credit through virtual means such as the Internet. GetBucks is fully compliant with the credit legislative requirements of South Africa and promotes responsible lending. GetBucks also strives to provide superior administration and management of client accounts.

Trusted Lender

They’re not shipping you off to some 3rd party leader. Your credit needs to come directly from GetBucks. If you repay on time, you get access to bigger loans at lower rates.

Trust Score

Your trust score gets calculated every time you repay a loan, update information and other things that GetBucks requests from time to time.

A+ Customer Service

They take utmost pride when helping clients sort out the little things. They are available on live chat, email or a good old phone call.

Personal Dashboard

Sign in anytime to access your wallet. Apply for bucks on the fly with the seamless payout process. Your free account gives you full control.

Transaction Timeline

Beautiful visual representation of your account with access to contracts, settlement letters and everything in between.

Credit Score

GetBucks is committed to making your credit score rock! They analyse and assist you in making better financial decisions. It’s a win – win situation.


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DebtBusters Fee Structure

Comparison Overview:

  • Product: Fee Structure
  • Application/initiation fee: An Application fee of R50 + VAT in terms of the National Credit Act, Schedule 2 (2).
  • Rejection fee: A rejection fee of R300.00 (excluding VAT) when an application for debt review is rejected.
  • Restructuring fee: A Restructuring fee less or equal to the first instalment of the debt re-arrangement plan with a maximum of R6000 (excluding VAT)
  • Monthly fee: A monthly After-care fee of 5% (excluding VAT) of the monthly instalment of the debt re-arrangement plan with a maximum of R400 (excluding VAT) for a period of 24 months. Thereafter 3% (excluding VAT) with a maximum of R400 (excluding VAT) for the remaining period.

Product Overview

DebtBusters believes in giving South African consumers a second chance to build a brighter financial future. The stories they hear from their clients, about how they have been able to transform their lives through debt counselling, is at the core of what drives DebtBusters. DebtBusters debt counselling process helps clients who are struggling to make debt payments, by entering them into a structured debt repayment plan with their credit providers, in order to ensure they take firm control of their financial situation and settle their short and long-term debt. DebtBusters has mandates with 95% of credit providers to extend the terms and reduce interest rates down to zero if necessary. DebtBusters aim to get clients debt free in 60 months. With 90% of DebtBusters debt review proposals to credit providers being accepted, debt counselling can be considered as a highly effective method of becoming debt free.

Benefits

  • Debt counsellors will formally review the client’s finances, develop a suitable monthly budget and negotiate with credit providers on their behalf
  • Enables clients to make monthly debt repayments
  • Relieves clients from creditors hassling for money
  • Prevents clients from declaring bankruptcy
  • Maps out the path for reducing bad debt and becoming debt free
  • Decreases summonses and judgements against clients
  • DebtBusters debt counsellors will educate clients about their financial rights and how to work better with their finances

Debt review overview and fees

Debt Counselling is a formal process, which is governed by the National Credit Act. Your monthly debt repayment amount is specific to your situation and how much you owe on your debt in total. Debt Counsellors are permitted by the NCR to charge certain fees which include:

  • A once off restructuring fee of 100% of your debt rehabilitation amount up to a maximum as per the NCR’s guidelines
  • A once off Application fee of R57 incl. VAT.
  • A Sundry Fee equivalent to your monthly debt rehabilitation amount for your legal application to the NCT or Magistrate Court.
  • A monthly Aftercare Fee of 5% (ex VAT) of your monthly debt rehabilitation amount for every month that you are under debt counselling.
  • A monthly Transactional Payment Distribution Fee (PDA) as per the NCR.

The process

  1. Month 1 Debit Order
    1. Restructure fee
    2. Application fee
  2. Month 2 Debit Order / EFT / Stop Order
    1. Rehab payment (which covers)
      1. Sundry fees
      2. Aftercare fee
      3. PDA fee
      4. Creditors
  3. Month 3 and onwards Debit Order / EFT / Stop Order
    1. Rehab payments
      1. Creditors
      2. Aftercare fee
      3. PDA fee

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DCASA Fee Structure

Comparison Overview:

  • Product: Fee Structure
  • Application/initiation fee: An Application fee of R50 + VAT in terms of the National Credit Act, Schedule 2 (2).
  • Rejection fee: A rejection fee of R300.00 (excluding VAT) when an application for debt review is rejected.
  • Restructuring fee: A Restructuring fee less or equal to the first instalment of the debt re-arrangement plan with a maximum of R6000 (excluding VAT)
  • Monthly fee: A monthly After-care fee of 5% (excluding VAT) of the monthly instalment of the debt re-arrangement plan with a maximum of R400 (excluding VAT) for a period of 24 months. Thereafter 3% (excluding VAT) with a maximum of R400 (excluding VAT) for the remaining period.

Product Overview

DCASA is a professional body of Debt Counsellors in South Africa that promotes the interests of its members and keeps them up to date with the theory and practice of debt counselling and related services. The Association promotes fair credit practice within South Africa and liaises and speaks to industry on behalf of its members.

When the National Credit Act was promulgated in 2007, it gave birth to the profession of Debt Counselling. The purpose of Debt counselling is to offer an alternative remedy to over indebtedness than the traditional methods such as Administration and Sequestration could offer. Although it is a relatively new profession in South Africa, the concept has been proven in countries such as the U.S.A and the United Kingdom.

Further indications of its success is the fact that since inception, in excess of R2 billion has been paid over to Credit Providers through the process of Debt Review. Debt Counselling has the wellbeing of the consumer at heart, providing a tool whereby a consumer's dignity remains in tact, and ultimately be rehabilitated into the credit market.

What the DCASA needs to help you through Debt Counselling

  1. Provide details of your income, monthly budget and debt commitments to the Debt Counsellor. You will need copies of your payslip, ID and the latest statement of all your debt.
  2. The Debt Counsellor will do an initial assessment to check that you are over indebted then the Debt Counsellor will set up a consultation with you. This could be a face to face consultation at one of the DCASA branches or a telephone consultation.
  3. During the consultation the Debt Counsellor will verify your budget and your existing debt commitments. A new budget will be agreed and the amount available for debt repayment will be determined. The Debt Counsellor will also provide you with details of all the costs as well as an interim repayment plan. This is when you officially apply for Debt Counselling.
  4. The Debt Counsellor will contact all your Credit Providers as well as the Credit Bureaus to verify your debt. You will also be listed on the Credit Bereaus that you are under debt counselling. This listing will stay there until you have paid everything off, then it will be completely removed. The Debt Counsellor will, where possible, negotiate a proposal with all your Credit Providers.
  5. The Credit Providers may accept the proposals and if all of them do, then a Consent Order will be obtained from a Magistrate Court. If one or more of the Credit Providers do not accept the proposed repayment plan the Debt Counsellor will submit a proposal to the Magistrate for a decision.
  6. The Debt Counsellor will provide you with a final repayment plan and this repayment plan is also submitted to a Payment Distribution Agency (PDA). The aim of this is to collect a single payment from you and ensure that the correct amount is paid to all Credit Providers on a monthly basis. This will continue until the debt has been repaid.

Overview of the fee structure

The NCR published fee guidelines that all debt counsellors must adhere to. The guidelines have been published to ensure that Debt Counsellors do not overcharge already burdened consumers, and to ensure that the Debt Counsellor can make enough to sustain his/her business.

The Debt Counselling Fee Guidelines:

  • An Application fee of R50 + VAT in terms of the National Credit Act, Schedule 2 (2).
  • A rejection fee of R300.00 (excluding VAT) when an application for debt review is rejected.
  • A Restructuring fee less or equal to the first instalment of the debt re-arrangement plan with a maximum of R6000 (excluding VAT)
  • In case of a joint application the fee may be increased to R6000 (excluding VAT)
  • A monthly After-care fee of 5% (excluding VAT) of the monthly instalment of the debt re-arrangement plan with a maximum of R400 (excluding VAT) for a period of 24 months. Thereafter 3% (excluding VAT) with a maximum of R400 (excluding VAT) for the remaining period.
  • Should the consumer withdraw from the Debt Review Process after a certain stage a fee equal to 75% of the restructuring fee will be payable by the consumer.
  • A legal fee of R750 in the 2nd month for the debt counsellor to obtain a consent order when all credit providers consented to the debt re-arrangement.
  • Any additional cost for further legal processes. The debt counsellor should be able to present proforma invoices issued by the attorneys involved.

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Debt Counselors Fee Structure

Comparison Overview:

  • Product: Fee Structure
  • Application/initiation fee: free
  • Rejection fee: n/a
  • Restructuring fee: n/a
  • Monthly fee: built in monthly service fee is 5% of the monthly instalment (max R300)

Product Overview

Debtcounsellorssa.co.za is operated by NCR registered Debt Counselling Organisation Debt Therapy (Pty) Ltd - as the first established Debt Counsellor in South Africa and have helped thousands of South Africans with debt problems.

What is debt review?

  • Legal protection against your creditors
  • A Reduction of your monthly bills by up to 60%
  • A way to get your credit record restored
  • A way to become debt free
  • Takes all your monthly debt and turns it into 1 easy payment
  • A way to find peace of mind


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Debt Rescue Fees

Comparison Overview:

  • Product: Fee Structure
  • Application/initiation fee: An Application fee of R50 + VAT in terms of the National Credit Act, Schedule 2 (2).
  • Rejection fee: A rejection fee of R300.00 (excluding VAT) when an application for debt review is rejected.
  • Restructuring fee: A Restructuring fee less or equal to the first instalment of the debt re-arrangement plan with a maximum of R6000 (excluding VAT)
  • Monthly fee: A monthly After-care fee of 5% (excluding VAT) of the monthly instalment of the debt re-arrangement plan with a maximum of R400 (excluding VAT) for a period of 24 months. Thereafter 3% (excluding VAT) with a maximum of R400 (excluding VAT) for the remaining period.

Product Overview

Debt Rescue believes in paying what you can afford and is a NCR Debt Counsellor.

Benefits

  • Pay only one affordable monthly instalment
  • Have sufficient funds for living expenses
  • Instalment amounts are reduced
  • Repayment periods get extended
  • Credit Providers communicate with us, not you
  • The NCA protects you from being blacklisted

Why choose Debt Rescue

  1. All Debt Rescue fees are included in your repayment plan
    1. Debt Rescue fees are regulated by the National Credit Regulator (NCR) and are included in your affordable debt repayment plan.
  2. Debt Rescue is operated by professionals
    1. The persons in charge of Debt Rescue’s operations are attorneys, accountants and ex senior bankers. In their opinion, Debt Counselling is a legal process and not all registered Debt Counsellors are necessarily competent enough to deal with the challenges that the process brings. Debt Counselling can be a life changing success if it is dealt with by competent Debt Counsellors, but in the hands of an incompetent Debt Counsellor it can be disastrous.
  3. Debt Rescue has very good relationships with most of the Credit Providers
    1. Debt Rescue has established very good relationships with most of the Credit Providers in the industry, therefore making the process of settling matters and disputes with Credit Providers quicker and easier, ensuring a very high success rate of the process as a whole.
  4. Highest level of service in South Africa
    1. As one of the most prominent players in the industry, the impeccable reputation of Debt Rescue is of the utmost importance to us and we endeavour to ensure that the level of Debt Rescue service and their ability to provide consumers with the best possible debt help, are the highest in South Africa.
  5. Debt Rescue makes use of specialist attorneys in Debt Counselling
    1. Debt Rescue only makes use of specialist attorneys in the field of Debt Counselling who have established networks of correspondents all over South Africa and who always keep abreast with the latest changes in the law pertaining to Debt Counselling.
  6. You can be assisted in 9 of the official languages of South Africa
    1. You can rest assured that you will be assisted in your mother tongue, ensuring that you have no problem understanding the Debt Counselling process and everything there is to know about it.
  7. You do not have to attend a consultation in person
    1. Although you may arrange for a consultation in person, the whole process can be finalized telephonically and via e-mail, making it extremely easy to make use of the Debt Counselling process. Debt Rescue takes your hand and guide you through the whole process, no matter where in South Africa you reside, so there is nothing to be afraid of.
  8. Your application is treated with confidentiality
    1. Your application is treated with the utmost confidentiality and therefore your employer or friends will not know that you are making use of Debt Counselling. Not that it is an indignity, seeing that chances are that 46% of all the people you know are financially distressed.
  9. 9.05 million South Africans are in arrears with at least 3 instalments
    1. The latest available statistics of the NCR indicates that 9.05 million consumers have impaired records. That is more than 46% of all credit-active consumers in South Africa. Since the implementation of the National Credit Act, Debt Rescue has assisted thousands of consumers to ease their financial distress and, where possible, to save their assets.


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DebtSmart Overview

Comparison Overview:

  • Product: Fee Structure N/A
  • Application/initiation fee: n/a
  • Rejection fee: n/a
  • Restructuring fee: n/a
  • Monthly fee: n/a

Product Overview

DebtSmart is registered with the National Credit Regulator (NCR) as well as the Debt Counsellors Association of South Africa (DCSA). If you are over-indebted DebtSmart can assist you through the regulated debt counselling process. Debtsmart Head Office is situated in Port Elizabeth, with franchise offices in East London, Ruimsig and Pretoria.

Features

DebtSmart can help you with the following types of debt:

  • Vehicle Finance
  • Store Credits
  • Bond Instalments
  • Overdrafts
  • Credit Cards
  • Personal Loans
  • Hire Purchase


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Debt Therapy Fee Structure

Comparison Overview:

  • Product: Fee Structure N/A
  • Application/initiation fee: free
  • Rejection fee: R300.00
  • Restructuring fee: Maximum of R6,000.00
  • Monthly fee: A monthly after-care fee of 5% (excluding VAT) of the monthly instalment of the debt re-arrangement plan up to a maximum of R400.00 (excluding Vat), for a period of 24 months, thereafter reducing to 3% (excluding VAT) of the monthly instalment, to a maximum of R400.00 (excluding VAT), for the remaining period of the debt re-arrangement plan. A monthly fee of 3% of your contribution, minimum of R57 with a maximum of R500 + VAT is collected by the National Payment Distribution Agency (NPDA) who receive and distribute your funds paid towards your debt review. The NPDA are a reputable distribution Agency, approved and registered with the National Credit Regulator.

Product Overview

Debt Therapy exists to help you deal with your debt problems if you are over-indebted. Debt Therapy offers government regulated debt counselling services to help get your life back on track.

Debt therapy can help you deal with the following types of personal debts:

  • Store cards
  • Credit cards
  • Personal loans
  • Bank overdrafts
  • Hire purchases
  • Bonds

Key features of our debt counselling program:

  • Free advice
  • Quick and easy
  • No interviews in person
  • In complete confidence. Your employer or work colleagues won’t find out.


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Absa Business Revolving Loan

Comparison Overview:

  • Product: Business Revolving Loan
  • Minimum Loan Amount: R25,000.00
  • Max loan amount: no maximum
  • Min repayment period: n/a
  • Max repayment period: n/a
  • APR: n/a

Product Overview

With an Absa Business Revolving Loan you have indefinite access to an agreed upon amount. Once you’ve paid back 15% of the original loan amount, the repaid amount becomes available again.

Features of the loan

  • The Business Revolving Loan is a short to medium-term borrowing option
  • You can borrow money from a set amount that Absa and you decide on together; after which you will need to pay back a certain amount before you can draw money again
  • The minimum loan amount is R25 000 and there is no upper limit
  • A minimum monthly repayment of 1/40th of the money borrowed is required
  • You can make lump sum deposits and withdrawals on your account

Benefits of the loan

  • An Absa Business Revolving Loan can be used to manage cash flow, seasonality or your projects
  • You could use it for working capital, bridging finance or to pay for stock in trade

Qualifying criteria

The minimum security requirement is the personal suretyship of the principal


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Comparison Overview:

  • Product: Business Term Loan
  • Minimum Loan Amount: n/a
  • Max loan amount: n/a
  • Min repayment period: 3 months
  • Max repayment period: 120 months
  • APR: n/a

Product Overview

When other financial products can’t effectively accommodate your business needs, an Absa Business Term Loan could be the answer. A term loan is a medium to long-term financial instrument that lets you borrow money and pay it back at a fixed rate, over the medium to long term.

Features

  • Manage your business’ debt and avoid spending from your operating capital - convert your overdraft’s hard-core amount into a term loan structure and start paying off the hard-core amount (a hard-core overdraft is when your business has an overdraft facility that is always in overdraft. If this becomes a long-term situation, we might advise you to convert the hard-core portion of your facility to a loan)
  • Ideal for when you need a specific asset and the financing can’t be done through Absa Vehicle and Commercial Asset Finance
  • Helps you to consolidate your business debt
  • You can use it to restructure your company’s balance sheet
  • Use it to finance a management buyout or share buy-back
  • The term of your loan is matched to the type of asset you are funding, with a minimum term of 3 months and a maximum of 120 months

Benefits

  • The scheduled use and repayment of the loan helps you budget more accurately
  • You have Absa’s assurance that they will not call up the loan, as long as you adhere to all the terms and conditions
  • You can structure your facilities correctly - finance short-term expenses with an overdraft facility and medium and longer-term asset purchases through a term loan
  • You can deposit surplus funds into your account and so pay less interest
  • You can withdraw surplus funds on credit approval and by completing a loan debit authority form at your nearest branch

Qualifying Criteria

  • The minimum security requirement is personal suretyship of the principal/s
  • You may also need additional security for your loan (a secured loan is a loan in which you, the borrower, pledge an asset such as a house or investment, which can be sold by the bank if you can’t repay the loan)



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Bidvest Business Loan and Advances

Comparison Overview:

  • Product: Business Loan and Advances
  • Minimum Loan Amount: n/a
  • Max loan amount: n/a
  • Min repayment period: 12 months
  • Max repayment period: 72 months
  • APR: n/a

Product Overview

With a Bidvest Business Loan and Advance, you can finance the everyday operations of your business with a working capital loan, or raise funds to inject capital into your business for medium to long term growth. With their asset-based finance, business loans and advances, Bidvest builds strong relationships with the energetic, growth-minded companies who bank with them.

How it works

Choose from the following options

1. Asset-based finance:



2. Working capital loans for your company’s day-to-day operational expenses.

3. General banking facilities

Your applications will be viewed case-by-case, where a repayment structure will be scheduled to suit your business’ individual needs. Bidvest rates are competitive and your loan application will be considered based on your company’s financial standing and credit-worthiness.

Note: Facilities are reviewed year by year and standard credit criteria apply.

More information on each of the products listed above in section 1. Asset-based finance :

Full maintenance leasing

With a full maintenance lease you can cover your company’s vehicles for unforeseen maintenance such as normal wear and tear and all routine services.

Benefits:

With fixed monthly costs, you can stay within budget irrespective of the actual vehicle expenses incurred.

A full maintenance car lease:

  • Reduces your monthly rentals because you pay for usage only
  • Reduces administration
  • Eliminates the risk of losing resale value because you are not responsible for selling the vehicle
  • Enables better cash flow and no there’s no capital outlay
  • Reduces your tax liability because rentals can be claimed as an operating expense
  • Offers flexible agreements where your contract can be restructured according to changing circumstances
  • Improves your asset and gearing ratios
  • Allows acceptance by auditors as being off balance sheet
  • Covers all eventualities except driver abuse, glass and accident damage
  • Allows you to claim VAT on maintenance goods for passenger vehicles
  • Allows you to claim VAT on the total rental for commercial vehicles

Rental finance

This is the ideal option if you receive a travel allowance and want to use the vehicle for a specific period of time and distance, without the ownership of a depreciating asset. It's much like hiring a car for an extended period of time.

Benefits:

The Operating Rental generally provides the lowest cash outflow and the lowest risk:

  • You are able to fix all motoring costs with the exception of fuel expenses, assuming that the prime interest rate remains unchanged
  • You only pay for the portion of depreciation that you agree to use
  • VAT is not included in the purchase price and you only pay VAT on the portion you use
  • There is no risk of lower market resale value since you don’t own the vehicle
  • An operating rental agreement includes a residual value (guaranteed resale value) held by Bidvest Bank, thereby reducing the monthly rental payable
  • You may elect to attach or ‘bolt on’ a maintenance contract to further eliminate any risk such as unforeseen repair bills
  • Ownership is possible but not obligatory, by settling the remaining capital including the residual value

Instalment sale finance

You can pay off your company vehicles and other movable assets over an agreed period of time. The two options Bidvest offers both allow for companies and car allowance recipients ownership at the end of the contract without an upfront deposit. The main difference between the two is the manner in which a deduction against income tax can be claimed.

  • Financial Lease enables you to claim the sum of the actual repayments made during the tax year.
  • Instalment Sale allows you to claim a wear-and-tear allowance plus finance charges. The wear-and-tear allowance is generally 20% per annum (5 years straight-line depreciation).

Commercial property finance

Renovate your commercial, industrial or retail property or re-finance an existing funding structure with a Bidvest competitively priced commercial property financing solution. The Bidvest team is dedicated on delivering a personal and highly responsive service to the finance requirements of executives, property owners and investors.

Why Bidvest?

As a niche bank, they’re able to offer superior levels of personal service, complemented by a dedicated focus on your personal business needs. As a Bidvest Bank commercial property finance client:

  • You’ll receive competitive rates, regardless of the structure, term or size of the commercial property transaction.
  • You have a dedicated account manager and your one point of contact.
  • The processes are explained step-by-step.
  • You are treated with the same high level of service quality and as a valued individual client, whether you’re a newcomer or an experienced and sophisticated property investor.
  • You are guided toward solutions that best suit your individual commercial property needs

Medical equipment finance

As part of the Bidvest medical equipment finance offering, Bidvest will help you obtain access to the necessary technology on terms that suit you. And your practice can continue to grow without the needing to extract large chunks of capital from it.

Why Bidvest?

They build strong relationships with their clients. As a Bidvest Bank medical equipment finance client:

  • You’ll get competitive rates no matter what the medical equipment loan structure, term or size of the transaction.
  • A dedicated account manager focuses on the personal medical equipment finance you need for your specific business.
  • Your account manager is your one point of contact and treats you as a valued individual client.
  • You’ll be guided through the process step-by-step.


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FNB Business Loan

Comparison Overview:

  • Product: Business Loan
  • Minimum Loan Amount: R2,000.00
  • Max loan amount: R400,000
  • Min repayment period: 3 months
  • Max repayment period: 60 months
  • APR: n/a

Product Overview

Grow and expand your business with a FNB Business Loan. This loan is suited to FNB Business Account holders looking to raise capital to inject into a business for growth or expansion purposes, acquire assets or additional business opportunities, or finance other business-related expenditure over the medium term.

What you will get

  • Flexible terms. From 3 months to 5 years with a minimum loan amount of R2 000
  • Optional loan security. You may not be required to provide security for loans of up to R400 000
  • Automatic payments. Pay using debit a order from your business account
  • Amortise capital. Pay less interest over time
  • Set interest rate. Budget and plan for the term of the loan

Qualifying criteria

An active FNB Business Account in good standing, operating for 15 months or more, with annual turnover of R500 000+.

What you will need

  • Existing FNB Business Account holder
    • For business finance of less than R400 000
      • You may not be required to submit supporting documents or collateral.
    • For business finance of more than R400 000
      • A Business Finance application form
      • Signed financial information (annual financial statements and year-to-date management accounts)
      • Projections (cash flow statements, income statements and balance sheets)
  • Don’t have an existing FNB Business Account
    • 6 months' bank statements
    • Signed financial information (annual financial statements and year-to-date management accounts)
    • Projections (cash flow statements, income statements and balance sheets)
    • A business plan to demonstrate the viability and sustainability of the business
    • Should your application be successful, you are required to open a Business Account


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FNB Flexi Business Loan

Comparison Overview:

  • Product: Flexi Business Loan
  • Minimum Loan Amount: n/a
  • Max loan amount: R2,000,000.00
  • Min repayment period: n/a
  • Max repayment period: max initial term of 60 months
  • APR: n/a

Product Overview

Get access to repaid capital with the FNB Business Flexi Loan which gives you access to capital you have already repaid on the loan. Once you have repaid 15% of the loan, you have access to these funds again to use in your business.

What you get

  • Redraw funds. Once 15% of the capital amount has been paid
  • Initial terms. 60 months, and a maximum loan amount of R2 000 000
  • Monthly payments. Set up debit order from your Business Accounts
  • Fixed repayment amount. If the term is extended to accommodate any increased loan balances
  • Flexible interest rate. Linked to prime - adjusted as the prime lending rate changes

Qualifying criteria

  1. An active FNB Business Account in good standing, operating for 15 months or more, with annual turnover of R500 000+.
  2. Residential property collateral

What you will need

  • Existing FNB Business Account holder
    • For business finance of less than R400 000
      • You may not be required to submit supporting documents or collateral.
    • For business finance of more than R400 000
      • A Business Finance application form
      • Signed financial information (annual financial statements and year-to-date management accounts)
      • Projections (cash flow statements, income statements and balance sheets)
  • Don’t have an existing FNB Business Account
    • 6 months' bank statements
    • Signed financial information (annual financial statements and year-to-date management accounts)
    • Projections (cash flow statements, income statements and balance sheets)
    • A business plan to demonstrate the viability and sustainability of the business
    • Should your application be successful, you are required to open a Business Account


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Mercantile Bank Business Term Loan

Comparison Overview:

  • Product: Business Term Loan
  • Minimum Loan Amount: n/a
  • Max loan amount: n/a
  • Min repayment period: flexible terms tailored according to the business
  • Max repayment period: flexible terms tailored according to the business
  • APR: competitive interest rate

Product Overview

Mercantile Bank offers tailored business term loans to suit your unique requirements. A Mercantile Bank Business Manager can assist you in structuring a facility that will help you make key and timely purchases for your business.

Key Features and Benefits

  • Flexible terms. Discuss attractive borrowing terms with your Business Manager to establish optimal lending solutions
  • Competitive interest rates. Pay a competitive interest rate for your business loans
  • Peace of mind. Manage your budget and plan ahead, with clear knowledge of interest rate charges and repayment terms
  • Tailored solution. With a good understanding of your business and your unique needs, they have the ideal business term loan for you.​


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Nedbank Startup Loan

Comparison Overview:

  • Product: Startup Loan
  • Minimum Loan Amount: n/a
  • Max loan amount: n/a
  • Min repayment period: n/a
  • Max repayment period: n/a
  • APR: n/a

Product Overview

The Nedbank Startup Loan is for you when your business is starting out, you often need capital upfront to buy profit-making assets. That’s where Nedbank comes in.

Finance your business

Nedbank Small Business Services has the right solution for you. Whether your small business needs capital to finance:

  • a business venture;
  • an expansion of an existing business; or
  • vehicles, plant and machinery or property.

Nedbank will find you an innovative way of meeting your needs without breaking the bank, ensuring you’re growing faster than you ever thought possible.

Contact

You can request a call back from Nedbank or contact them on 0860 555 333.

Nedbank Business Growth Loan

Comparison Overview:

  • Product: Business Growth Loan
  • Minimum Loan Amount: n/a
  • Max loan amount: n/a
  • Min repayment period: n/a
  • Max repayment period: up to 120 months
  • APR: competitive interest rates

Product Overview

The Nedbank Business Growth Loan is for you when you take your business’s future personally. Because Nedbank does too. They want to work together to make your growth plans a reality with tailored financial products to help you get there.

From small to established in no time

A Nedbank Business Growth Loan offers small-business owners a structured loan with a term of up of 10 years, guaranteed by an acceptable form of security. Whether expansion means a new product or upgrading an existing business, the possibilities are limited only by your own aspirations.

A Nedbank Business Growth Loan offers the following. It:

  • offers competitive interests rates on repayments;
  • is tax deductible;
  • includes the option of Nedbank Credit Life Cover; and
  • is structured around your needs, helping you determine the shortest payback term you can realistically afford.


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Opportunity Finance Small to Medium Business Finance

Comparison Overview:

  • Product: Small to Medium Business Finance
  • Minimum Loan Amount: R1,000.00
  • Max loan amount: R15,000.00
  • Min repayment period: 4 months
  • Max repayment period: 24 months
  • APR: 23-60%

Product Overview

Opportunity Finance understands your business finance needs. The necessity for a small business to have access to flexible working capital. The importance for a small business to invest in assets such as machinery, equipment and vehicles. The frustration of small business owners not being able to access finance due to lack of sufficient formal documentation

Benefits to small and medium businesses

Opportunity Finance recognises the importance of small business development and are dedicated to helping small businesses and entrepreneurs succeed and grow by providing finance that allows entrepreneurs on a sustainable basis to:

  • Loan amounts range from R1 000.00 – R15 0000.00 to meet working capital needs and finance the purchase of assets such as machinery and equipment, and business and home improvement.
  • Flexible loan repayment terms from 4 months to 24 months, with instalments payable weekly, fortnightly or monthly
  • Competitive interest rates ranging from 23% to 60% per annum
  • Loans can be paid into your existing bank account, the Opportunity Finance pre-paid debit card or to the supplier from which you are purchasing
  • Sole proprietors DO NOT need formal financial records (income statement and balance sheet) although it would be advantageous if you have these
  • No need to have a bank account!
  • For loans of more than R15 000.00, Opportunity Finance do require collateral.

What do you need to apply?

  • Must have been in business for 1 year
  • Your green SA ID book
  • Sole proprietors (i.e. where you own and run the business) Opportunity Finance would like to see the following documents:
    • Slips, invoices, receipts of purchases and sales for the last 3 months (if this is available)
    • A bank statement for the last 90 days (if you have a bank account)
    • Proof of residence (FICA document)
  • For close corporations Opportunity Finance requires:
    • CK1 and/or CK2 documents
    • Business Registration Number
    • ID number and names of members
    • Most recent financial statements
    • Proof of income and expenses
    • Bank statement for the last 90 days
    • Resolution from members, authorising the loan application with Opportunity Finance
  • For registered companies Opportunity Finance requires:
    • Company documents which include:
      • Founding statements, Articles of association, CM1, CM2, CM5, CM9, CM20, CM29
    • Most recent audited financial statements
    • Management accounts for the last 6 months
    • Bank statement for the last 180 days
    • Resolution authorising the nominated representative to apply for the loan
    • List of shareholders and their shareholding in the company
    • ID Number and names of Company Directors

How it Works

  1. Make an inquiry online, by phoning the Opportunity Finance national call centre or contacting one of their business development officers.
  2. One of the Opportunity Finance business development officers will contact you and set up an appointment to meet you.
  3. All the necessary financial and application information will be processed.
  4. If Opportunity Finance has all the information that they require from you, they can approve and pay out the loans within 12 business days!


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Standard Bank Business Term Loan

Comparison Overview:

  • Product: Business Term Loan
  • Minimum Loan Amount: R50,000.00
  • Max loan amount: no maximum
  • Min repayment period: n/a
  • Max repayment period: 10 years
  • APR: n/a

Product Overview

The Standard Bank Business Term Loan facility is a simple way to secure funds for a period of up to 10 years. The loan is repayable in equal monthly instalments.

Benefits

  • A Business term loan can be used to fund the following:
    • Buying fixed assets, for example property or equipment
    • Refurbishments and alterations
    • Buying a new business
  • The loan period is not fixed but is determined by your monthly repayments, which include interest and capital
  • The minimum loan amount is R50 000 and there is no maximum, depending on what you can afford
  • The account can be linked to our electronic self-service banking channels


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Absa Home Loan

Comparison Overview:

  • Product Category: Home Loan
  • Minimum Monthly Income: more than R20,001.00
  • Interest Charged: competitive fixed or variable interest rate
  • Monthly Service Fee: -
  • Initiation Fee: -
  • Minimum Age: -
  • Maximum Age: -
  • Max Repayment Term: 30 years
  • Insurance Options: Home-owner's comprehensive insurance to cover the structure of your property. A life policy so that, should you pass away, your home loan will be settled and your family is protected.

Product Overview

Use an Absa Home Loan to finance residential property, including vacant land or a new home. The Absa long-standing experience as a home loan provider means we can offer you not only home finance, but also guidance to help you make the best choice.

What you get?

  • Flexible repayment terms of up to 30 years.
  • Fixed or variable interest rate options.
  • Immediate access to any extra payments you’ve made into your bond with Flexi Reserve.
  • The option to increase your existing loan up to the current market value of your property, with Further Advance.
  • The option to increase your loan back to its original loan amount with ReAdvance.
  • Free eStatements.
  • Free Absa will on acceptance of the quote (offer valid until 31 December 2015).
  • If you take up an Absa Gold or Platinum Value Bundle, a discount on your monthly service fee.
  • Electronic access to your home loan with Absa Online and Telephone Banking if you have an Absa transactional account.
  • The ability to track your application online, from submission to registration.


What you will need

  • A single or joint gross monthly household income of R18 601 or more.
  • A South African identity document, or a passport if you are not a South African resident.
  • Your latest salary advice or, if self-employed, a letter of income from your bookkeeper.
  • An offer to purchase.
  • Provide consent for Absa to obtain three months’ bank statements if you bank with FNB or Nedbank, otherwise simply provide three months’ bank statements.


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Absa MyHome Loan

Comparison Overview:

  • Product Category: MyHome Loan
  • Minimum Monthly Income: less than R20,001.00
  • Interest Charged: competitive fixed or variable interest rate
  • Monthly Service Fee: -
  • Initiation Fee: -
  • Minimum Age: -
  • Maximum Age: -
  • Max Repayment Term: 30 years
  • Insurance Options: Home-owner's comprehensive insurance to cover the structure of your property. A life policy so that, should you pass away, your home loan will be settled and your family is protected.

Product Overview

Turn your dream of owning a home into a reality. A great option if you earn a gross single or joint monthly household income of less than R20 001.

What you get

  • Flexible repayment terms of up to 30 years.
  • You can choose a variable or fixed interest rate.
  • An optional Absa Home Loan Protector Policy that pays off your home loan in the event of your death.
  • Up to a 100% home loan.
  • Free home loan training.
  • Pay a deposit and reduce your monthly repayments.

What you’ll need

  • A gross monthly household income of less than R20 001 (single or joint).
  • A South African identity document.
  • Latest salary advice or, if self-employed, a letter from your bookkeeper confirming your income.
  • An offer to purchase.
  • Consent for Absa to retrieve three months' bank statements if you bank with FNB or Nedbank, otherwise simply provide three months' bank statements.
  • Home-owner's comprehensive insurance to cover the structure of your property.
  • A life policy so that, should you pass away, your home loan will be settled and your family is protected.
  • To complete Absa’s home loan training programme before your MyHome finance can be registered.


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Comparison Overview:

  • Product Category: Mortgage Originator
  • Minimum Monthly Income: depends on the bank through which Betterlife finances the Home Loan.
  • Interest Charged: depends on the bank through which Betterlife finances the Home Loan.
  • Monthly Service Fee: depends on the bank through which Betterlife finances the Home Loan
  • Initiation Fee: depends on the bank through which Betterlife finances the Home Loan
  • Minimum Age: depends on the bank through which Betterlife finances the Home Loan
  • Maximum Age: depends on the bank through which Betterlife finances the Home Loan
  • Max Repayment Term: depends on the bank through which Betterlife finances the Home Loan
Insurance Options: depends on the bank through which Betterlife finances the Home Loan


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Comparison Overview:

  • Product Category: Home Loan
  • Minimum Monthly Income: R25,000.00
  • Interest Charged: 9.25%
  • Monthly Service Fee: R57.00
  • Initiation Fee: R5,700.00
  • Minimum Age: 18
  • Maximum Age: 75
  • Max Repayment Term: term according to borrower’s age
  • Insurance Options: home-owner’s cover

Product Overview

The Traditional Home Loan is a loan to assist the customer with finance when purchasing an existing residential property. The traditional home loan may be combined with a range of additional facilities and options to personalise your home loan. You can also view optional extras on the Traditional Home Loan page.

Costs Involved



Expense

Description

Amount

Purchase price deposit (if necessary)

This is a payment made to secure the property. The amount will be stated in the Offer to Purchase contract

Varies according to property value

Registration costs

A fee that is paid by you to the attorney

From 0,5% to 1,8% of the value of the bond to be registered

Transferring costs

A fee that is paid to the attorney nominated by the seller to transfer ownership of the property

This fee also varies and is based on the purchase price of the property

Postage and sundries

The cost of documents and certificates that the conveyancing attorney will need to submit to the Deeds Office, the bank, the estate agent and you

Minimum R300

Deeds Office registry fee

A fixed fee for the local registration of the loan

Minimum R200 to R1 000

Transfer duty

This is a government tax, which you will need to pay based on the purchase price

Acquisition of property by natural persons:

Less than R750,000 = No transfer duty payable

R750,001 to R1,250,000 = 3% of the value exceeding R750,000

R1,250,001 to R1,750,000 = R15,000 plus 6% of the value exceeding R1,250,000

R1,750,001 to R2,250 000 = R45,000 plus 8% of the value exceeding R1,750,000

R2,250,001+ = R85,000 +11% if the value exceeding R2,250,000

Initiation fee

A fee charged by FNB to process your home loan application

See annual pricing guide for details. FNB will debit this fee to your home loan on registration.

Monthly Service fee

A monthly service fee will be charged on all loans

See the FNB annual pricing guide for details

Do you qualify?

The Traditional Home Loan is available to individuals, joint applicants and property-owning juristic persons e.g. trusts, non-trading close corporations and private companies.  The term of the loan must expire before you reach the age of 75.

Types of Buyers

First Bond

A First Bond application for finance through FNB is for a fully built property where no previous finance for the property is in place. The qualifying criteria on a New Home Loan must be met.

First Time Home Buyer

A First Time Home Buyer has never owned a property before and is approaching FNB for finance. You will need to meet the following criteria when applying for a home loan for the very first time:

  • The qualifying criteria on a New Home Loan must be met.
  • You must be purchasing a property for the first time.

Vacant Land

A Vacant Land application is submitted when a customer requires finance for a portion of land where no building exists.

Do you qualify?

You will need to meet the following criteria when applying for Vacant Land finance from FNB Home Loans:

  • The qualifying criteria on a Traditional Home Loan must be met.
  • The vacant land must have existing municipal service connections.


What you need to apply?

  • A copy of an Offer to Purchase (if applicable)
  • Proof of income
  • If self-employed provide the latest financial statements
  • Suitable proof of residence
  • Copy of South African identity document
  • Copy of your marriage certificate (if applicable)
  • Completed application form


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Comparison Overview:

  • Product Category: Home Loan
  • Minimum Monthly Income: R8,000.00
  • Interest Charged: not specified
  • Monthly Service Fee: not specified
  • Initiation Fee: not specified
  • Minimum Age: not specified
  • Maximum Age: not specified
  • Max Repayment Term: not specified
  • Insurance Options: not specified

Product Overview

KCI also source funding for the purposes of financing home loans in specific segments in the South African housing market. Applications are received from a wide range of sources such as property developers, employers, pension funds, first time home buyers and other individuals. Generally applications are for loans from about R150,000 up to but not greater than R600,000. The minimum values of the properties should not be lower than R280,000 (at 2013 values). The gross monthly income levels of applicants vary from a minimum of R8000.00 up to R40,000.00.

An in-depth analysis is done on all aspects that may have an effect on the applicants’ future credit behaviour and particular emphasis is placed on the following:

  • The applicant must be able to afford the monthly payments and have adequate cash to meet this commitment.
  • The applicant must be able to also meet all his/her other commitment inclusive of household/living expenses. Provision is made for other contingencies.
  • The applicant must be willing to give an undertaking to participate in a coaching programme that would assist with household expense and income planning and budgets. Amongst other benefits, the programme also deals with the owner’s responsibilities towards maintaining the property and meeting the rates and taxes obligation towards his/her local authority.

An important feature of KCI’s offering is that it differentiate itself from most other home loan providers in that;

  • It has the ability to accommodate pension fund contributions (pension fund backed home loans) as part of the bigger home loan and that it has the ability, skills and technological platforms to administer and control these.
  • Despite a negative credit history, applications would still be considered as KCI has gained extensive experience through its Debt Consolidation product to deal with clients that have an adverse credit history, defaults and judgments.
  • It has the ability to develop unique financial rescue plans for qualified applicants.

The KCI Service

KCI has invested substantially in obtaining and grooming the required skills over the last 7 years as well as developing and acquiring adequate and efficient technologies to administer home loans and other loan portfolios. Currently, KCI also acts as a service provider to other lenders and offers an administrative service to credit providers particularly in the mortgage market.



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Nedbank Home Loan

Comparison Overview:

  • Product Category: Home Loan
  • Minimum Monthly Income: R2,500.00
  • Interest Charged: competitive fixed or variable interest linked to prime
  • Monthly Service Fee: R57.00
  • Initiation Fee: R5,700.00
  • Minimum Age: -
  • Maximum Age: -
  • Max Repayment Term: 25 Years
  • Insurance Options: Home-Owner's Insurance cover on freehold homes at full replacement value.

Product Overview

A Nedbank Ordinary Home Loan provides a flexible loan that can be tailored to your needs. Use this loan if you want to buy an existing property or make structural changes to your existing property. Pay off your home loan over a period of up to 25 years, or sooner if you like, with a fixed or variable interest rate. You can get access to further loans or excess funds if you need them and you can cover both your home and your home loan with Nedbank’s comprehensive insurance products.

Features and Benefits

  • Repayment term of up to 25 years.
  • Fixed or variable interest rate options.
  • Further loan without registration of a new home loan (readvance) – get access to the capital amount already paid off, up to the original loan amount.
  • Further loan with registration – register a second loan that grants finance for a variety of uses (depending on affordability up to the latest valuation amount).
  • NedRevolve gives you access to a part of the loan that has been repaid in excess of the prescribed minimum monthly instalment.The minimum amount that may be withdrawn shall be the sum of R1 000 (one thousand rand) and each withdrawal will be in rand only.
  • Nedbank Accelerated Payments enable you to pay off your home loan sooner than the term stipulated in your home loan agreement.
  • Home-Owner's Insurance cover on freehold homes at full replacement value.
  • Loan Protection Assurance for loans up to R600,000

Qualifying

For new home loans or building loans:

  • Your total household income must be R2,500 or more.
  • The property value must be R100,000 or more.
  • You must have a clear credit record.

For Readvance:

  • A readvance increases the outstanding balance on your home loan; therefore your monthly instalment will be recalculated accordingly.

For all home loan types, Nedbank will assess your affordability in terms of the National Credit Act. All approvals are subject to Nedbank’s credit qualifying criteria and a property valuation.



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Nedbank HomeVision Loan

Comparison Overview:

  • Product Category: Home Loan
  • Minimum Monthly Income: -
  • Interest Charged: competitive fixed or variable interest linked to prime
  • Monthly Service Fee: R57.00
  • Initiation Fee: R5,700.00
  • Minimum Age: -
  • Maximum Age: -
  • Max Repayment Term: 25 Years
  • Insurance Options: Home-Owner's Insurance cover on freehold homes at full replacement value.

Product Overview

Whether you’ve found the perfect little fixer-upper or want to start growing your family in a couple of years, there are many reasons to consider registering a bond for higher than the purchase amount. Once your property value and your affordability increase, you can access the additional amount, subject to credit approval.

Features and Benefits

The convenience of only registering a bond once, saving time and allowing greater flexibility.

  • Cost-effectiveness, as there are no costs for a second bond.Affordability – your monthly payments are based on what has been paid out, not the registered amount.
  • Flexibility – use the funds for whatever you need from home improvements to school fees to holidays.
  • Repayment term of up to 25 years.
  • Fixed or variable interest rate options.
  • Further loan without registration of a new home loan (readvance) – get access to the capital amount already paid off, up to the original loan amount.
  • Further loan with registration – register a second loan that grants finance for a variety of uses (depending on affordability up to the latest valuation amount).
  • NedRevolve gives you access to excess funds which accumulate should you pay more than the prescribed instalment or a lump sum into your home loan account.
  • Funds are available in multiple draws of R1,000.
  • Nedbank Accelerated Payments enable you to pay off your home loan sooner than the term stipulated in your home loan agreement.
  • Home-Owner's Insurance cover on freehold homes at full replacement value.
  • Loan Protection Assurance for loans up to R600,000.



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Comparison Overview:

  • Product Category: Home Loan
  • Minimum Monthly Income: not specified
  • Interest Charged: competitive fixed or variable interest linked to prime
  • Monthly Service Fee: not specified
  • Initiation Fee: not specified
  • Minimum Age: 18
  • Maximum Age: not specified
  • Max Repayment Term: not specified
  • Insurance Options: Home Loans Cover

Product Overview

The RMB Private Bank Home Loan is designed to provide you with finance for your dream home, holiday home or investment property. Whether in your personal name or in the name of your business they have structured their home loan product to provide a range of simple to complex solutions to best serve your needs as a client of RMB Private Bank. After all, buying a home is a significant investment and you want to maximise your return on investment.

Your Benefits

  • Flexi Option – a financial management facility giving you easy, convenient access to additional funds in your home loan account through online banking, 24 hours a day.
  • Variable or fixed interest rates – the choice is yours, with the variable rate linked to Prime.
  • Automatic linking to online banking – manage and transfer funds into and out of your home loan account at any time through online banking, provided you have an RMB Private Bank Cheque Account.
  • Discount on attorney fees.

Property Choices

Any residential property, whether freehold or sectional title, will be considered. Smallholdings of up to 8.5ha in an urban or peri-urban area and vacant stands in residential areas also qualify.

How you can leverage your homeloan

Your Home Loan Account must be settled via debit order every month and you are able to pay more than the required monthly instalment. Any additional amount reduces the amount owed and can help you save significantly in interest and settle your home loan faster. Additional payments can be made via online banking, the RMB Private Bank Banking App on your smart device, cellphone banking and telephone banking.

Rewards that you can Enjoy

As an RMB Private Bank Cheque Account holder, you’ll also enjoy the following benefits when you take up our home loan:

  • Convenient quarterly emailed statements.
  • eBucks – your home loan earns you extra points towards your reward tiers, so you can earn up to 15% back in fuel and grocery purchases or get up to 40% off a variety of products and services using your eBucks through eBucks channels.
  • Free access to online, cellphone and telephone banking as well as the RMB Private Bank Banking App on your smart device
  • inContact – free SMS and email notifications of Flexi transactions on your Home Loan Account

Transferring existing bonds from another financial institution

RMB will streamline the process as much as possible for you to transfer your existing bond to RMB Private Bank. Please be aware that you may be liable for an early termination fee with the existing institution as well as bond cancellation attorney fees.

What you will need to apply


The RMB Private Bank Home Loan is available to any entity and natural persons over the age of 18 with a regular or fixed income and a clear credit record. To ensure a hassle-free application, please complete the Application Form and provide them with the offer to purchase, valid South African ID or passport, proof of current residential address, proof of income and financial information (statement of assets and liabilities, business financial statements and bank


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SA Variable Home Loan

Comparison Overview:

  • Product Category: Variable Home Loan
  • Minimum Monthly Income: -
  • Interest Charged: 9.25%
  • Monthly Service Fee: -
  • Initiation Fee: -
  • Minimum Age: -
  • Maximum Age: -
  • Max Repayment Term: 20 Years
  • Insurance Options: In house - bond protection, homeowners cover

Product Overview

A Home Loan with competitive interest rates and innovative optional extras.

Benefits

  • Interest rate is variable and is tailored to your risk profile.
  • Flexible term up to 20 years.
  • Switch to SA Home Loans and benefit from the Quick Cash option before registration: get up to R75 000 in cash within 72 hours (or up to R150 000 as soon as you’ve signed your bond documents) to use as you please.
  • Access surplus funds on the value of your property, through a variety of further lending options after your home loan is established.
  • In-house insurance options available: bond protection and home owner’s cover.

SA 30 Year Home Loan

Comparison Overview:

  • Product Category: 30 Year Home Loan
  • Minimum Monthly Income: -
  • Interest Charged: 9.25%
  • Monthly Service Fee: -
  • Initiation Fee: -
  • Minimum Age: -
  • Maximum Age: 45
  • Max Repayment Term: 30 Years
  • Insurance Options: In house - bond protection, homeowners cover

Product Overview

Minimise your monthly instalments with this bond, calculated over a long term. This 30 year home loan is an amortising, variable rate product which offers greater cash flow flexibility due to a lower instalment. This enhanced affordability is particularly helpful for home buyers at the beginning of the life of their loan.

Benefits

  • Term of 30 years.
  • Interest rate is variable and tailored to your risk profile.
  • This product is only available to clients purchasing a new home but not to clients wishing to switch their existing bond.
  • There are borrower age criteria: maximum age at grant is 45 years.
  • In-house insurance options are available: bond protection and home owner’s cover.

SA Edge Home Loan

Comparison Overview:

  • Product Category: Edge Home Loan
  • Minimum Monthly Income: -
  • Interest Charged: variable
  • Monthly Service Fee: -
  • Initiation Fee: -
  • Minimum Age: -
  • Maximum Age: -
  • Max Repayment Term: 36 months - then further 240 months
  • Insurance Options: In house - bond protection, homeowners cover

Product Overview

Pay the lowest instalment - only the interest - for 3 years before reverting to a standard amortising loan, allowing you to afford the home you really want.

Benefits

  • Ideal for clients who want to buy 'up' now - knowing their income will grow to match their repayments.
  • Pay the interest only for the first 36 months - the lowest instalment possible.
  • At the end of 36 months, the loan reverts to a standard variable loan over 240 months, with all the same benefits and features.
  • No capital payments at the end of the term - your home is fully paid off.
  • You still have the flexibility of paying off capital in the first 3 years if you choose (for example, by fixed monthly debit order), reducing the capital balance and thereby saving you interest.
  • Unique in the market - no other home loan product offers these features and low initial instalments.
  • In-house insurance options available: bond protection and home owner’s cover.


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Buying Your First Home Loan

Comparison Overview:

  • Product Category: First Home Loan
  • Minimum Monthly Income: -
  • Interest Charged: competitive interest rate
  • Monthly Service Fee: up to R300 depending on account
  • Initiation Fee: R5,700.00
  • Minimum Age: -
  • Maximum Age: -
  • Max Repayment Term: 20 years
  • Insurance Options: credit life insurance/home-owners insurance

Product Overview

Buying your first home can be complex and stressful, and finding extra money to pay a deposit and costs can be daunting. Let Standard Bank jumpstart you to home ownership by including your bond costs into your loan.

Features and Benefits

  • You can apply on your own or with a partner as long you and your partner have not owned a property.
  • You may qualify for a loan of up to 104% of the value of the property, provided the loan amount does not exceed R1 million and depending on your affordability and risk profile. The “extra” 4% may only be used to pay the transfer and bond registration costs.
  • You can repay your loan over 20 years.
  • Competitive interest rates.
  • Loans are available to private individuals only – you cannot register a loan in the name of a trust or other legal entity.
  • Credit life insurance may be needed - this covers payment of your home loan in the event of death, dread disease, permanent disability or retrenchment
  • *Terms and Conditions apply.

What you will need to apply

  • You have to be 18 years old or older or be an emancipated minor.
  • You have to earn a single or joint gross monthly salary of R3500 or more.
  • You need to have a transaction account into which your salary is deposited.
  • Home-owners insurance is compulsory. You have the option of arranging your own insurance over the property.
  • You must also bring all required documents. See the document checklist to help you get ready to apply.
  • When purchasing in a sectional title complex where the number of units is between 2 and 10, you must complete a letter of awareness (English) (Afrikaans) as indicated on the document checklist.

Applications

You can either apply as a Private Individual or do a Juristic Application.


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Buying Again Home Loan

Comparison Overview:

  • Product Category: Buying Again Home Loan
  • Minimum Monthly Income: -
  • Interest Charged: competitive interest rate
  • Monthly Service Fee: up to R300 depending on account
  • Initiation Fee: R5,700.00
  • Minimum Age: -
  • Maximum Age: -
  • Max Repayment Term: 20 years
  • Insurance Options: credit life insurance/home owners insurance

Product Overview

Have you outgrown your existing home or have you worked really hard and want to reward yourself with a bigger and more luxurious home or investment property? Standard Bank has the product for you!

Features and Benefits

  • You can apply for a home loan as a private individual, with another person(s) or as a juristic entity, such as a trust or company.
  • Competitive fixed and variable interest rate options.
  • You can get a loan for up to 100% of the value of the property, depending on your affordability and risk profile.
  • Competitive interest rates.
  • You can repay your loan over 20 years.
  • Credit life insurance may be needed - this covers payment of your home loan in the event of death, dread disease, permanent disability or retrenchment.

What you will need to apply

  • You have to be 18 years old or older or be an emancipated minor.
  • You have to earn a single or joint gross monthly salary of R3500 or more.
  • You need to have a transaction account into which your salary is deposited.
  • Home-owners insurance is compulsory. You have the option of arranging your own insurance over the property.
  • You must also bring all required documents. See the document checklist to help you get ready to apply.
  • When purchasing in a sectional title complex where the number of units is between 2 and 10, you must complete a letter of awareness (English) (Afrikaans) as indicated on the document checklist.


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Comparison Overview:

  • Product Category: Home Loan
  • Minimum Monthly Income: -
  • Interest Charged: 9.50% p.a.
  • Monthly Service Fee: R57.00
  • Initiation Fee: R5,700.00
  • Minimum Age: -
  • Maximum Age: -
  • Max Repayment Term: up to 30 years
  • Insurance Options: -

You can finance the dream home you have always wanted with a Mutual Bank Home Loan

The bank offers home loan finance to:

  • Purchase an existing property
  • Purchase a stand and build a residence

Product Overview

  • In limited instances commercial property finance may be considered by the bank.
  • In addition, clients have the option to access funds paid in advance on their home loans in the form of a re-advance.
  • Clients also have the option to register additional bonds on the same bonded property to finance renovations and / or extensions.
  • The bank offers home loan terms up to 30 years, dependant on the retirement profile of the applicant.
  • For assistance on any home loan enquiry request a call-back.


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Absa Personal Overdraft for Current Accounts

Comparison Overview:

  • Product: Personal Overdraft for Current Accounts
  • Arrangement Fees: ?
  • Monthly Maintenance Fees: R25
  • Interest: On Application
  • Unauthorised borrowing: R57
  • Professional Advice: Yes

Product Overview

Want a reserve of extra money available in your account should you need it? An overdraft on your cheque account could be the answer.

It can be easy to lose track of how much money is in your account when you’re busy and pay day can sometimes seem a long way away. An overdraft from Absa provides you with a safety net of additional money, up to a pre-agreed limit, to cover everyday expenses when there’s nothing left in your account.

Three different overdraft options:

  • A fixed facility with a limit that revolves and is reviewed each year. You can keep using the funds, up to your agreed overdraft limit, as long as you make regular repayments. At the end of your contract year, your limit is renegotiated.
  • A reducing facility with a limit that decreases as you pay it off each month. This is a good option if you know you’ll only need to borrow for a short while and prefer not to have a revolving limit.
  • An indefinite facility with a limit that revolves for an unspecified period. You can keep using the funds, up to your agreed overdraft limit, as long as you make regular repayments.



An Absa overdraft could be the right choice if you:

  • Would like a reserve of extra money available in your account should you need it
  • Earn a regular income of R2 000 a month or more
  • Only want to pay interest on the daily balance of your account

What you get

  • A short-term, limited credit facility available on your cheque account
  • Peace of mind, knowing that you can cover any shortfalls in your account or monthly cash flow, up to an agreed limit
  • Convenience, because your overdraft facility is granted for an agreed time period
  • Interest rates based on your individual risk profile
  • Interest that is charged only on the amount of overdraft you use each day
  • The ability to pay your loan off faster, as additional deposits are accepted as capital reductions
  • An affordable Credit Protection Plan to settle the outstanding balance if you die, become permanently disabled or get one of the dread diseases. A monthly amount of 3% of the total insured will be paid for a limited period if you are retrenched or temporarily disabled.

Qualification requirements:

  • You need to have a minimum monthly income of R2 000 and a good credit record
  • You must either have an existing Absa Bank cheque account or be applying for one. Apply here
  • You must have a valid ID (as a South African citizen) or passport number (as a temporary citizen)
  • If you are married in community of property, you need your spouse’s consent to apply
  • If you meet these criteria, then all you need to do is apply online (if you are a new customer) or logon to your Absa Online and apply from here


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Absa Business Banking Cheque Account Overdraft

Comparison Overview:

  • Product: Business Banking Cheque Account Overdraft
  • Arrangement Fees: ?
  • Monthly Maintenance Fees: R45
  • Interest: On Application
  • Unauthorised borrowing: R57
  • Professional Advice: Yes

Product Overview

An Absa Business Banking Cheque Account Overdraft facility allows you to overdraw your cheque account up to an approved limit.



Features:

  • The overdraft facility is granted for a fixed period of time and you must repay the total amount outstanding at the end of that period
  • Your overdraft limit is reviewed every year
  • The interest rate that you are charged is negotiable
  • Interest is calculated and payable on the daily balance, which means you are only charged on the facility you actually used


Benefits

  • An overdraft takes care of your short-term cash flow needs by extending a credit limit on your current account
  • It can be used to manage cash flow, your projects and seasonality in your business


Qualifying criteria:

  • The minimum security requirement is the personal suretyship of the principal


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FNB Gold Cheque Account Overdraft

Comparison Overview:

  • Product: Gold Cheque Account Overdraft
  • Arrangement Fees: Free
  • Monthly Maintenance Fees: R57
  • Interest: On Application
  • Unauthorised borrowing: ?
  • Professional Advice: Yes

Product Overview

Only pay when you use it! A FNB Gold Cheque Account Overdraft is a convenient credit facility linked to your account that gives you the confidence to manage your personal finances.

Benefits:

  • Easy access to a credit facility so that you can handle unexpected events
  • No fees unless you use more than R200 of your limit. If you don't use it, you won't pay a monthly overdraft fee
  • Flexibility as payments made into your facility make the funds available for use once more.
  • A credit limit and interest rate that is dependent on your credit profile
  • Optional Debt Protection available in case of your death, permanent disability, retrenchment or temporary disability
  • You may qualify for additional eBucks

Qualifying Criteria

  • Age 18 years and older
  • Income: R120 000 - R349 999 per annum

Documents needed

  • South African ID book/ID card
  • Proof of residence (e.g. water, electricity or phone bill not older than 3 months)
  • Foreign nationals will be required to present a work or study permit


FNB Premier Cheque Account Overdraft

Comparison Overview:

  • Product: Premier Cheque Account Overdraft
  • Arrangement Fees: Free
  • Monthly Maintenance Fees: R57
  • Interest: On Application
  • Unauthorised borrowing: ?
  • Professional Advice: Yes

Product Overview

With Premier Cheque Account Overdraft you can experience dedicated banking service and get access to a world of rewards and benefits.

Qualifying criteria:

  • Your income per year must be between R350 000 and R749 999

FNB Business Overdraft

Comparison Overview:

  • Product: Business Overdraft
  • Arrangement Fees: ?
  • Monthly Maintenance Fees: R57
  • Interest: On Application
  • Unauthorised borrowing: ?
  • Professional Advice: Yes

Product Overview

FNB Business Overdraft is a convenient, short-term credit facility that is ideal for emergencies and unforeseen circumstances.


What this offers

  • The facility is linked to your Business Account and provides the ability to make payments even when there are no cash funds available in your account, thus avoiding penalty fees and additional charges
  • No minimum monthly payment as long as you remain within the agreed limit
  • Payments into the overdraft facility make funds available for use again
  • Flexibility, as you can deal with unexpected expenses and capitalise on any opportunities
  • Monthly repayments are based on the amount of credit you used

What it costs

  • Pay only for overdraft when you use it
  • The amount you qualify for, as well as the interest rate, will depend on your credit profile
  • The interest rate will be calculated for you, once your application has been submitted
  • Interest is charged monthly on your overdraft balance
  • Credit fees will be provided upon application

Qualifying Criteria:

Must be an FNB customer with an FNB Business Account


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Business Bank Account Overdraft

Comparison Overview:

  • Product: Business Bank Account Overdraft
  • Arrangement Fees: ?
  • Monthly Maintenance Fees: R57
  • Interest: On Application
  • Unauthorised borrowing: ?
  • Professional Advice: Yes

Product Overview

Business Bank Account Overdraft is a credit facility linked to your business bank account can help you manage your cash flow and working capital requirements more effectively. This overdraft option gives you easy access to additional funds for unforeseen circumstances. It’s a prime-linked revolving facility offered at competitive interest rates.

Key features and benefits:

  • Revolving facility:  Enjoy the benefits of a revolving facility, reviewed annually  
  • Instant access:  Avoid delays and enjoy instant access to additional funds, whenever you need it
  • Tailored limits:  Discuss your unique requirements with your Business Manager to establish suitable borrowing limits
  • Interest:  Prime-linked rate of interest, calculated daily and charged to your account on a monthly basis
  • Cash flow:  Maximise your cash flow by being able to access extra working capital when you need it most
  • Competitive interest rates:  Benefit from an attractive interest rate - only pay interest on funds used and not the full facility available to you.


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Nedbank Personal Overdraft for Savvy Bundle account

Comparison Overview:

  • Product: Personal Overdraft for Savvy Bundle account
  • Arrangement Fees: Free
  • Monthly Maintenance Fees: Free
  • Interest: On Application
  • Unauthorised borrowing: ?
  • Professional Advice: Yes

Nedbank Personal Overdraft for Savvy Plus Account

Comparison Overview:

  • Product: Personal Overdraft for Savvy Plus Account
  • Arrangement Fees: ?
  • Monthly Maintenance Fees: R25
  • Interest: On Application
  • Unauthorised borrowing: ?
  • Professional Advice: Yes


Nedbank Personal Overdraft for Savvy Pay-as-you-use Account

Comparison Overview:

  • Product: Personal Overdraft for Savvy Plus Account
  • Arrangement Fees: ?
  • Monthly Maintenance Fees: R25
  • Interest: On Application
  • Unauthorised borrowing: ?
  • Professional Advice: Yes

Nedbank Business Banking Current Account Overdraft

Comparison Overview:

  • Product: Business Banking Current Account Overdraft
  • Arrangement Fees: ?
  • Monthly Maintenance Fees: R57
  • Interest: On Application
  • Unauthorised borrowing: ?
  • Professional Advice: Yes

Product Overview

At times your business needs some cashflow flexibility – while you’re waiting for payments to come in, you need to make payments of your own. A Nedbank overdraft facility is the ideal solution, providing working capital finance and unlocking cashflow.

An overdraft facility helps you to grow your business by:

  • Providing the flexibility to borrow or repay as and when your cashflow allows;
  • Making funds accessible quickly and easily through a variety of mechanisms; and
  • Calculating debit interest on the daily used amount only

What you get

  • Easy access with electronic banking, ATMs and debit cards;
  • Competitive, risk-based pricing; and
  • immediate access – as soon as your current account is active, you can apply for an overdraft facility and, once approved and the pre-agreed conditions are met, the facility is made available immediately.


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Personal Overdraft for your Current Account

Comparison Overview:

  • Product: Personal Overdraft for your Current Account
  • Arrangement Fees: ?
  • Monthly Maintenance Fees: R32
  • Interest: On Application
  • Unauthorised borrowing: R57
  • Professional Advice: Yes

Product Overview

An overdraft is a credit facility loaded to your current account. This means that you have the convenience of borrowing on the same account that is used for your daily banking transactions.

Benefits:

  • An overdraft provides you with cash for your unplanned expenses
  • An overdraft will provide you with the comfort of knowing you have instant access to extra cash for emergencies
  • You can use as much of your agreed overdraft limit as you need whenever you need it. The total limit is always available to you for use
  • You only pay interest on the portion of your overdraft used in any given month
  • The interest rate is linked to the prime so that you receive the benefit when prime rates decrease
  • No monthly repayment required. Only deposit into your current account, preferably your salary
  • You can take up to R500 overdraft limit with no initiation fee and no monthly service fee, which can be used as a safety buffer on you current account
  • ONe you have an overdraft, you can conveniently increase or decrease your limit via any of Standard Bank’s self service channels
  • You have the option of taking out insurance on your overdraft facility. This will give you peace of mind knowing that your loan will be settled in full in the event of disability, dreaded disease or death.


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Business Banking Current Account Overdraft

Comparison Overview:

  • Product: Personal Overdraft for your Current Account
  • Arrangement Fees: 1.25% of facility
  • Monthly Maintenance Fees: R57
  • Interest: On Application
  • Unauthorised borrowing: R57
  • Professional Advice: Yes

Product Overview

A Business Banking Current Account Overdraft overdraft is the ideal way to manage your cash flow. It is linked to your business account and you can use as much as you need, up to your limit.

Benefits:

  • An overdraft is quick and easy to arrange
  • The cash is available when you need it
  • You only pay interest on what you use, not on the full amount of your limit


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Borrow

Comparison Overview:

  • Product: Borrow
  • Initiation Fee: 0.5% - 7% of the loan amount (never exceeding R1000)
  • Monthly Service Fee: None
  • Interest: Variable
  • Minimum Loan Amount: Available upon application.
  • Maximum Loan Amount: R200 000
  • Minimum repayment period: Available upon application.
  • Maximum Repayment Period: Available upon application.

Product Overview

Lendico connects borrowers and investors!

Benefits:

  • Great rates - Lendico directly connects borrowers with investors. Lendico’s process bypasses many of the high costs of the traditional banking system. These savings are then passed on to you. Lendico’s borrowers benefit from low rates and flexible terms.
  • Process - At Lendico you can submit your individual loan project in a few simple steps and without unnecessary paperwork. Save yourself the trip to the bank, simply apply for your loan from the comfort of your own home. The money will arrive in your bank account in just a few days.
  • Tailored to your Individual Needs - Whether you want to expand your business, buy the car of your dreams, renovate your kitchen or consolidate your debts. At Lendico you can apply for a loan that is tailored to your needs and your financial situation. Loans of up to R 200 000 at low costs, for more financial leeway.
  • Secure - The Lendico process is fast, simple and strictly non-bureaucratic. There are no hidden fees and no small print. Lendico’s systems comply with the highest safety standards, where your data and identity are protected and kept confidential at all times.


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Bidvest Instalment Sale Agreement

Comparison Overview:

  • Product: Instalment Sale
  • Repayment Period: up to 72 months
  • Max Finance Available: not specified
  • Min Finance Available: not specified
  • Interest: linked to Bidvest prime rate
  • Balloon Payment Yes/No: Yes
  • Minimum Requirement: not specified

Product Overview

The Bidvest Instalment Sale Agreement is a great choice ff you receive a car allowance, want to finance a vehicle over 60 months or more, and want ownership at the end of the period, the vehicle Instalment Sale Agreement option is most suitable for you. If your credit rating allows, you may elect to structure a balloon payment into your repayment plan in order to reduce the monthly instalments.

This finance option is best for those who want a longer finance period and/or would like ownership of the vehicle. Tax treatment includes that SARS allows for the deduction of finance charges and wear and tear at 20% per annum against travel allowance income. This is only an option applicable to travel allowance receivers and business’. Ownership automatically passes on receipt of final payment.

Benefits

Monthly repayments can be reduced by structuring in a balloon payment.


Bidvest Financial Lease Agreement

Comparison Overview:

  • Product: Financial Lease
  • Repayment Period: up to 72 months
  • Max Finance Available: not specified
  • Min Finance Available: not specified
  • Interest: linked to Bidvest prime rate
  • Balloon Payment Yes/No: Yes
  • Minimum Requirement: not specified

Product Overview

The Bidvest Financial Lease Agreement lets you finance the car for a period of less than 60 months. It’s ideal if you’re a car allowance receiver paying a deposit or including a balloon payment in the finance plan. You may elect to take ownership at the end of the car lease contract after making the final payment. SARS allows for the deduction of the monthly payment (including a balloon payment) against travel allowance income. This is only an option applicable to travel allowance receivers and business’.

Benefits

Monthly repayments can be reduced by structuring in a balloon payment.


Bidvest Operating Rental

Comparison Overview:

  • Product: Financial Lease
  • Repayment Period: up to 60 months
  • Max Finance Available: not specified
  • Min Finance Available: not specified
  • Interest: linked to Bidvest prime rate
  • Balloon Payment Yes/No: No
  • Minimum Requirement: not specified

Product Overview

The Bidvest Operating Rental Agreement is the ideal option if you receive a travel allowance and want to use the vehicle for a specific period of time and distance, without the ownership of a depreciating asset. It's much like hiring a car for an extended period of time. SARS allows for the deduction of the monthly payment (including a balloon payment) against travel allowance income. This is only an option applicable to travel allowance receivers and business’.

Benefits

The Operating Rental generally provides the lowest cash outflow and the lowest risk:

  • You are able to fix all motoring costs with the exception of fuel expenses, assuming that the prime interest rate remains unchanged
  • You only pay for the portion of depreciation that you agree to use
  • VAT is not included in the purchase price and you only pay VAT on the portion you use
  • There is no risk of lower market resale value since you don’t own the vehicle
  • An operating rental agreement includes a residual value (guaranteed resale value) held by Bidvest Bank, thereby reducing the monthly rental payable
  • You may elect to attach or ‘bolt on’ a maintenance contract to further eliminate any risk such as unforeseen repair bills
  • Ownership is possible but not obligatory, by settling the remaining capital including the residual value

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Direct Car Finance

Comparison Overview:

  • Product: Direct Car Finance
  • Repayment Period: Wesbank Associated Financing
  • Max Finance Available: not specified
  • Min Finance Available: R30,000.00
  • Interest: Wesbank Associated Financing
  • Balloon Payment Yes/No: not specified
  • Minimum Requirement: Minimum salary of R6500

Benefit Overview

  • Subject to validation, you could have approval within just 24 hours.
  • Enjoy competitive interest rates - as well as the choice of a fixed interest rate.
  • You can choose to skip a payment on your car loan for one month every year.
  • You have the option of covering yourself in the event of death, disability, dread diseases and retrenchment.
  • All vehicles will be viewed and tested by an approved and listed technical centre.

Why Choose Direct Choice?

  • Efficient, friendly and professional services.
  • Direct Choice is committed to the highest standards and business principles.


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FNB Dealership Finance

Comparison Overview:

  • Product: Dealership Finance
  • Repayment Period: not specified
  • Max Finance Available: not specified
  • Min Finance Available: R30,000.00
  • Interest: variable
  • Balloon Payment Yes/No: Yes
  • Minimum Requirement: vehicle max 10 years old, buy vehicle from dealership

Product Overview

The FNB Dealership Finance offers a tailor-made vehicle finance solution with a choice or fixed or variable rate. You also have the option of a balloon payment or residual value to match your agreement choice.

What the FNB Dealership Finance Deal allows you to do:

  • Buy a vehicle from a dealership
  • Buy a vehicle up to 10 years old
  • Finance a vehicle for at least R30 000 after deposit
  • Determine your repayments with the vehicle repayment calculator
  • Understand how much you can buy for with the Vehicle purchase price calculator

Value Added Products include

  • Retrenchment policy
  • Deposit protector
  • Courtesy car policy
  • Access to vehicle auctions

What can you expect?

  • Personalised interest rates
  • Immediate feedback on your application
  • Finance vehicles that are up to 10 years old
  • Choose between an instalment sale or a lease agreement

Make sure you are covered with the following insurance options so that you are always taken care of:

  • Comprehensive Insurance
    • Covers vehicle to protect the customer and FNB
  • Cover Plus
    • The shortfall insurance which covers the difference that is owed to FNB and the insurance payout
  • Customer Protection Plan (CPP)
    • Covers the outstanding balance in the event if death or permanent disability
  • Vehicle Warranty
    • Covers mechanical breakdown after the manufacturer's warranty expires

How do you qualify?

You need to be permanently employed, over 18 with a driving licence and earn at least R6,000 per month with a clear credit record.


  • Proof of income (recent payslip or 3 months' payslip if you are self-employed)
  • A signed declaration in accordance with the NCA
  • A green bar-coded South African ID book/new ID card
  • South African driving licence
  • Proof of residence
  • If you are a foreigner, a valid passport, permits and international driving licence are required
  • Refugees will not be considered for vehicle finance


FNB Private Vehicle Finance

Comparison Overview:

  • Product: Private Vehicle Finance
  • Repayment Period: not specified
  • Max Finance Available: not specified
  • Min Finance Available: R30,000.00
  • Interest: 9.25%
  • Balloon Payment Yes/No: Yes
  • Minimum Requirement: vehicle max 20 years old

Product Overview

Receive trusted support with a FNB Private Vehicle Finance option and gain access to a network of FNB approved testing station nationwide. You will have the ability to buy or sell a vehicle privately, with personalised interest rates.

What the Private Vehicle Finance option allows you to do:

  • Buy or sell a vehicle privately
  • Finance a vehicle up to 20 years old
  • Finance a vehicle for at least R30 000 after deposit

Value Added Products include

  • Retrenchment policy
  • Deposit protector
  • Courtesy car policy

What can you expect?

  • Personalised interest rates
  • Registration from the buyer handled by FNB
  • Fixed or variable rate linked to the prime rate
  • Immediate feedback on your application
  • Access to countrywide approved testing stations
  • Choose between an instalment sale or a lease agreement

Make sure you are covered with the following insurance options so that you are always taken care of:

  • Comprehensive Insurance
    • Covers vehicle to protect the customer and FNB
  • Cover Plus
    • The shortfall insurance which covers the difference that is owed to FNB and the insurance payout
  • Customer Protection Plan (CPP)
    • Covers the outstanding balance in the event if death or permanent disability
  • Vehicle Warranty
    • Covers mechanical breakdown after the manufacturer's warranty expires

How do you qualify?


  • Proof of income (recent payslip or 3 months' payslip if you are self-employed)
  • A signed declaration in accordance with the NCA
  • A green bar-coded South African ID book/new ID card
  • South African driving licence
  • Proof of residence
  • If you are a foreigner, a valid passport, permits and international driving licence are required
  • Application for certification of roadworthiness
  • Application for licensing of motor vehicle
  • Application for registration and licensing of motor vehicles
  • Application in respect of licence number for motor vehicles
  • Notification of change of ownership, sale of motor vehicle
  • Application and notice in respect of business register number
  • Refugees will not be considered for vehicle finance

Or contact FNB by phoning this number 0860 FNB CAR (362227)

FNB Leisure Vehicle Finance

Comparison Overview:

  • Product: Leisure Vehicle Finance
  • Repayment Period: not specified
  • Max Finance Available: not specified
  • Min Finance Available: R30,000.00
  • Interest: 9.25%
  • Balloon Payment Yes/No: No
  • Minimum Requirement: vehicle max 20 years old

Product Overview

The FNB Leisure Vehicle Finance option is for the likes of motorbikes, boats and other dream vehicles. You can get finance to buy a leisure vehicle from a dealership with a choice of fixed or variable rates.

What the FNB Leisure Vehicle Finance option allows you to do:

  • Finance to buy a leisure vehicle from a dealership
  • Choice of Fixed or Variable rate
  • Purchase caravans up to 20 years old (subject to FNB discretion)
  • Buy motorbikes privately or from a dealership

Value Added Products include

  • Retrenchment policy
  • Deposit protector
  • Courtesy car policy

What can you expect?

  • Personalised interest rates
  • Fixed or variable rate linked to the prime rate
  • Immediate feedback on your application
  • Choose between an instalment sale or a lease agreement

Make sure you are covered with the following insurance options so that you are always taken care of:

  • Comprehensive Insurance
    • Covers vehicle to protect the customer and FNB
  • Cover Plus
    • The shortfall insurance which covers the difference that is owed to FNB and the insurance payout
  • Customer Protection Plan (CPP)
    • Covers the outstanding balance in the event if death or permanent disability
  • Vehicle Warranty
    • Covers mechanical breakdown after the manufacturer's warranty expires

How do you qualify?

You need to be permanently employed, over 18 with a driving licence and earn at least R6,000 per month with a clear credit record.


  • Proof of income (recent payslip or 3 months' payslip if you are self-employed)
  • A signed declaration in accordance with the NCA
  • A green bar-coded South African ID book/new ID card
  • South African driving licence
  • Proof of residence
  • If you are a foreigner, a valid passport, permits and international driving licence are required
  • Refugees will not be considered for vehicle finance


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IEMAS Vehicle Finance

Comparison Overview:

  • Product: Vehicle Finance
  • Repayment Period: not specified
  • Max Finance Available: not specified
  • Min Finance Available: R30,000.00
  • Interest: competitive interest rates
  • Balloon Payment Yes/No: not specified
  • Minimum Requirement: Please note that vehicle finance is only available to persons employed by organisations contracted to Iemas.

Product Overview

The IEMAS Vehicle Finance option wants to put in the driver’s seat when you finance your next vehicle through them. IEMAS will assist you throughout the transaction whether you are buying your dream vehicle from a dealer, or directly from someone you know.

What can you expect?

  • They offer competitive interest rates
  • Financing without deposit is available
  • They finance pre-owned vehicles up to the age of ten years
  • They finance private transactions
  • You can refinance your vehicle through us
  • You can be pre-approved to make your shopping experience more streamlined and enjoyable

Value Added Products that include:

  • Cover Plus & Deposit Cover
  • Debit Protection or Credit life insurance
  • Mechanical breakdown warranty

Contact and Apply

You can enquire through and SMS, send "Wheels" to 32297(SMS costs R1). You can also email wheels@iemas.co.za for an enquiry. You can also fill out the online form on the website.

What you will need to apply:

  • Identity Document / Certified copy of Identity Document
  • A valid driver’s licence
  • Three latest payslips
  • One month's bank statement
  • Proof of residential address
  • Proof of surety (only applicable for secured loans)


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Instalment Agreement

Comparison Overview:

  • Product: Instalment Agreement
  • Repayment Period: 24-72 months
  • Max Finance Available: not specified
  • Min Finance Available: not specified
  • Interest: linked to market rates or fixed interest rate
  • Balloon Payment Yes/No: Yes
  • Minimum Requirement: Early-settlement option is available. There is no penalty on small and intermediate agreements.

Product Overview

An MFC instalment agreement offers you a financial facility to purchase a vehicle that is selected by you and is purchased by the bank. The bank then sells the vehicle to you over a negotiated period at an agreed interest rate. The deposit is subject to credit risk and is negotiable based on the age of the vehicle. You can also expect tax depreciation if you are a tax-orientated client.

Balloon Payment Option

The balloon payment option offers the benefit of reduced monthly repayments, with a lump sum repayment (referred to as the balloon payment) at the end of the agreement period.

At the end of the agreement period, you have the following options:

  • Apply to refinance the balloon payment amount for a further period. (Terms and conditions will apply).
  • Sell the vehicle.
  • Paying the full balloon payment amount and take ownership of the vehicle.

Rate Payment Options

MFC offers you the flexibility to select from one of two rate options:

  • Linked-rate Option

The Linked-rate Option provides you with the potential benefits of fluctuating interest rates.  In the event that the interest rate increases during the agreement period, your interest rate and therefore your repayments will increase accordingly. The reverse applies if the interest rate decreases during the agreement period: then you will benefit from lower corresponding repayments.

  • Fixed-rate Option
The fixed-rate option provides you with peace of mind in terms of fluctuating interest rates. In the event that the interest rate increases during the agreement period, your repayments will not be affected and your interest rate will remain the same.


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Standard Bank Instalment Sale

Comparison Overview:

  • Product: Instalment Sale
  • Repayment Period: up to 60 months
  • Max Finance Available: not specified
  • Min Finance Available: not specified
  • Interest: linked to standard bank prime rate, market rates or fixed
  • Balloon Payment Yes/No: Yes
  • Minimum Requirement: Preference to be a Standard Bank approved dealer or the private seller must bank with Standard Bank.

Product Overview

The Standard Bank Instalment Sale allows you to buy vehicles and other assets, and pay for them over an agreed period of time. Ownership will pass to you automatically once you have made the final payment.

Features and Benefits

  • Deposits are negotiable.
  • Balloon payments can be structured into the agreement.
  • You can finance the vehicle over a maximum period of 60 months.
  • Standard Bank owns the asset during the term of the finance agreement; ownership is passed to you automatically once you have repaid Standard Bank in full.
  • You can trade-in the asset once you have repaid Standard bank in full.
  • Market-related interest rates apply, which may be linked to the prime lending rate or fixed.
  • You are required to have the asset comprehensively insured for the period of the contract.
  • VAT is capitalised into the principal debt or paid on commencement of the agreement as an initial payment. Your copy of the agreement can be used as a VAT invoice, if you are able to claim an input tax.
  • There are no VAT implications on early settlement.
  • The asset should be capitalised according to the General Accepted Accounting Practice (GAAP) and the liability reflected on your balance sheet.

Standard Bank Financial Lease

Comparison Overview:

  • Product: Financial Lease
  • Repayment Period: up to 60 months
  • Max Finance Available: not specified
  • Min Finance Available: not specified
  • Interest: linked to standard bank prime rate, market rates or fixed
  • Balloon Payment Yes/No: Yes
  • Minimum Requirement: Preference to be a Standard Bank approved dealer or the private seller must bank with Standard Bank.

Product Overview

The Standard Bank Financial Lease facility gives you the use of an asset while you are paying for it over the agreed term. Ownership does not pass to you automatically but is one of the options available to you at the end of the contract.

Features and Benefits

  • Deposits are negotiable.
  • Balloon payments can be structured into the agreement.
  • You can finance the vehicle over a maximum period of 60 months.
  • Standard Bank owns the asset. Once all payments have been made, you may return the asset to them, negotiate to become the legal owner, or renew the contract at an annual rental.
  • Flexible payment structures can be negotiated.
  • Market-related interest rates apply, which may be linked to the prime lending rate or fixed.
  • You are required to have the asset comprehensively insured for the period of the contract.
  • Lease payments are tax deductible. If an input credit has been claimed in respect of VAT paid, tax deductions will be limited to lease payments, excluding VAT.
  • VAT is capitalised into the principal debt or paid on commencement of the agreement as an initial payment. Your copy of the agreement can be used as a VAT invoice, if you are able to claim an input tax.
  • There are no VAT implications at the end of the agreement period, unless you enter into a new rental agreement. In this case VAT will be levied on each rental.
  • The asset should be capitalised according to the General Accepted Accounting Practice (GAAP) and the liability reflected on your balance sheet.

Standard Bank Full Maintenance Lease

Comparison Overview:

  • Product: Financial Lease
  • Repayment Period: up to 60 months
  • Max Finance Available: not specified
  • Min Finance Available: not specified
  • Interest: monthly rental linked to prime rate
  • Balloon Payment Yes/No: No
  • Minimum Requirement: The facility is available to you if you use the vehicle for business purposes, a maximum finance period of 60 months applies, and you are not required to pay a deposit. Standard Bank owns the vehicle, at the end of the agreement you return it to us or negotiate to become the legal owner. You are required to have the vehicle comprehensively insured for the period of the contract.

Product Overview

The Standard Bank Full Maintenance Lease is a comprehensive financial and maintenance package. It allows you to outsource the administration and maintenance of your vehicles to Standard Bank Fleet Management. It is a simple way of acquiring vehicles at a fixed monthly cost. A Full Maintenance Lease is offered to corporate and commercial customers.

Features and Benefits

  • The facility is available to you if you use the vehicle for business purposes, a maximum period of 60 months applies, and you are not required to pay a deposit.
  • Standard Bank Fleet Management will source and buy the vehicle on your behalf.
  • The repayments are based on the period of the agreement and estimated distance to be travelled.
  • Repayments are adjusted if the average monthly distances travelled change by more than 10% from the estimated distance agreed upfront, or you could be charged an excess amount at the end of the contract.
  • Monthly rentals, not interest rates, are quoted and are subject to variations in the prime lending rate.
  • You are required to have the asset comprehensively insured for the period of the contract.
  • VAT is not capitalised upfront, but is payable on each rental.
  • Payments include VAT and are tax deductible. However, where you have claimed an input credit for VAT paid in respect of the rental, tax deductions will be limited to rentals, excluding VAT.
  • The asset is not reflected on your balance sheet. The rental is, however, shown as an expense on your income statement.
  • On termination of the agreement, the vehicle is returned to Standard Bank, so there are no tax implications.


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