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Technology as itself has paved the way for a lot of innovations, and the financial sector definitely is evolving around it. Credit cards remain one of the most advanced technological breakthroughs of all time. Owners of these cards now have access to funds in advance. With Standard bank, account holders can now enjoy the limitless benefits that come with owning a credit card.

Here’s an overview of all there is to know about Standard bank credit card.

Overview of a Standard Bank Credit Card

The standard bank provides financial services with a rich history. They’ve been serving and supporting their clients, employees, and communities for over 156 years now. With a presence in 20 African countries and key global markets, their differentiator is their long-term efficiency and commitment to Africa.

Standard bank in their utmost will to serve, they have included the credit card plan as one of the financial products they offer. Now, holders can now borrow funds with the wish to pay for goods and services with merchants that accept cards for payment. As a result of the simplicity and ease of usage offered by Standard bank credit cards, cardholders can now enjoy these benefits while using the cards.

Standard Bank Credit Card benefit and features.

The convenience that comes with a credit card is just one of many benefits consumers cannot overlook..

Some of these additional benefits and features include;

1. Secure Spending

With a lot of financial threats flying around these days, banking with a financial institution that offers quality security is very important. According to the name, standard banks ensure the financial safety of their citizens at all times.

2. Worldwide Acceptability

Business owners accept their credit cards both at home and abroad. You can always use your MasterCard and Visa credit card to pay for goods and even services in any part of the world. And if it’s super urgent, you can even withdraw cash from ATMs.

3. Build up your credit record

Banks and other credit institutions always examine your credit history when you apply for a loan. Using and paying off a credit card timeously is a simple way to build up a positive credit record. A great credit score ensures quicker approval for loans and possibly even lower interest rates.

4. Easy Payment Solution

The budget facility on a credit card enables holders to pay off enormous expenses. Expenses like an unexpected medical emergency, a new fridge, or a missed flight, in monthly installments.

5. Convenience factor

In addition to the convenience that comes with owning a Standard Bank Credit Card, it is also important to note the benefits. Credit cards give holders instant access to money without them actually having to carry it around.

6. Collect Ucount Rewards Points

With every purchase or payment you make with a Standard Bank Credit Card, you earn Ucount points. You can use these reward points with a retail partner like Caltex.

7. Free Travel Insurance

Payment of overseas flights gives Standard Bank Credit Cardholders access to free basic travel insurance.

Types of Standard Bank Credit Cards 

With the utmost will to serve all their customers, irrespective of their financial status, Standard Bank has optimized its credit card system to fit every citizen. With a wide range of credit cards, users can now select the one that best suits their needs. Here’s a look at the different credit cards Standard Bank has to offer;

Interest rate and other fees 

Standard bank charges interest on credit cards according to the kind of credit card plan the holder chooses. So the interest rate you’ll be charged depends on the type of credit card you select.

Their fees range from R40 to R264 per month depending on the Credit Card. Interest rates are personalised ranging from a minimum of 7% (prime) to a maximum of 18% (Repo rate + 14%) as per the NCA regulation. Monthly repayment for your Credit Card is a minimum of 3% of your outstanding balance. An upfront, once-off initiation fee of R180 (VAT inclusive) will be required. 

How to apply for a Standard Bank Credit Card

There are two application methods employed by Standard bank. These methods are offline application and online application. The offline application process as the name implies requires the applicant to physically visit the nearest financial provider’s branch. This process also involves reaching out to the standard bank stand-by customer representative at 0860 500 000. The line is open between 8 am and 5 pm during the week.

Online application doesn’t require a physical appearance.  This application process involves either downloading the financial provider’s app, visiting their websites, and following the instruction. 

The online application process can be executed from any location. Standard bank employs this method of application because of the advancement in technology.

Conclusion 

Standard bank is set to achieve some significant goal. One of these goals being optimizing their service and making banking operations very convenient for their customers. The credit card product is one of the major mechanisms they will use to achieve this purpose.

Self-Employed Loans In South Africa explained

South Africa’s lenders typically ask their borrowers to provide them with payslips, proof of a regular monthly income, and evidence of residence. Due to this, it can be quite difficult and sometimes impossible for self-employed people to qualify for any type of loan.

Lenders prefer employees because they are considered lower risk. Therefore, it is more likely that individuals with a job or regular income will be able to repay a loan than those without jobs or regular income.

The good news is, South Africans can still qualify for a loan, even if they write their own paychecks. This article provides guidance on how to find the best loans for the self-employed, regardless of whether you run your own business or are a freelancer, contract worker, or sole trader.

How does a personal loan for self-employed people work

You may be eligible for either a secured or unsecured loan as a self-employed person. The main difference between the two is that a secured loan involves providing collateral. Alternatively, an unsecured loan does not require any security, but the interest rate is typically higher.

Self-employed loans have the following characteristics:

1. The loans have flexible payment terms, from 6 up to 72 months; the monthly repayment schedule of your loan can be set according to your budget.
2. You can borrow an amount that ranges from R2 000 to R300 000: Credit providers typically consider your income history when determining how much you can afford.
3. The interest rates are customized according to your personal risk profile: If you have already established a good credit score, you will be able to get a lower interest rate.
4. The application process is straightforward: Online applications are typically approved without requiring you to visit the lender’s office.

What type of loans are available for self-employed people

1. Personal loans

If you are self-employed, you can choose between a secured and an unsecured loan. Personal loans in South Africa usually require the lender to check your credit history before issuing the loan amount.

2. Home loans

You can take out this loan to purchase your dream home even if you do not hold a formal job. The lender will conduct a thorough assessment of your finances in order to determine whether you can afford such a  loan.

3. Self-employed loans fast payout

These types of loans are obtained online.  There is no lengthy documentation to fill out The lender usually only needs proof of income to confirm your ability to pay back the loan.

4. Vehicle finance

Prospective applicants can get a secured or unsecured car loan if you need to finance your vehicle.

What are the requirements for taking out self-employed loans

Whenever you apply for a loan as a self-employed person, it is imperative to show the lender that you will be able to repay the loan. You may need to meet the following requirements in order to apply for such a loan:

Personal loans for the self-employed

Self-employed individuals who need a loan might need to provide and meet the following requirements. 

1. Prospective applicants must have a valid South African bank account that receives a regular income;
2. Applicants should have a valid South African ID;
3. Proof of income such as your most recent bank statements; and
4. Proof of residence – you can use a utility bill.

Home loans for the self-employed

Are you self-employed and in need of a home loan? The following requirements are essential to ensure approval. 

1. A declaration of all your finances and assets;
2. Your most recent IT34 from SARS;
3. A letter confirming your average monthly income preferably from your auditor; and
4. Have a deposit amount ready.

Vehicle finance loans for the self-employed

Self-employed loan applicants in need of vehicle finance must;

1. Have a deposit amount ready;
2. Be a holder of a valid South African driver’s license.

In general, lenders use this information to determine whether or not you can comfortably pay back the loan. In accordance with the National Credit Act, all regulated credit providers must practice responsible lending. Therefore, the amount you can borrow depends on your income.

Application process

The application process for self-employed loans is similar to that for regular loans for employed people. Although the application process may take longer since the lender needs more time to verify your ability to repay the loan on a monthly basis.

Most lenders offer an easy and fast online application process. The process generally involves uploading the required documents and completing the online application. Following your application, all you need to do is wait for the lender to respond. You’ll receive a loan offer if you qualify.

Where can you get a loan for the self-employed

Below are some lenders who offer loans for self-employed people:

1. Capitec

Self-employed individuals who receive their salary directly from their business can borrow up to R250 000. Nonetheless, informally self-employed people like freelancers and sole traders might not be eligible to apply.

2. Standard Bank 

For self-employed individuals, Standard Bank offers vehicle and home loans. The owner of the business will need to provide financial statements, as well as a statement of assets and liabilities.

3. Wonga

Prospective applicants can borrow short-term funds of up to R4000 as a new customer and up to R8000 if you’re an existing customer.

4. Nedbank 

Nedbank self-employed loans range from R2000 to R300 000 if you have a monthly income of more than R3 500.

5. Absa

When you have a regular monthly income of R2000 or R1500 on your bank statements, you can qualify for a personal or smaller personal loan.

6. FNB 

 If you qualify, you can borrow up to R300 000.

How to improve your chances of getting a loan

1. Maintain a good credit score

Whether you are eligible for a loan depends largely on your credit score. Having a good credit score increases your chances of approval, and it also lowers your interest rate. Learn more about improving your credit score.

2. Organize your paperwork

It is your responsibility to ensure that you have all the financial records required by your preferred credit provider. For example, if you are getting a home loan, comparative financials for the last two to three years may be required.

3. Get help from an expert

When making a loan application, you can save time and work by hiring an accountant or auditor to help you with your financial records and tax returns. Additionally, you can work with an experienced bond originator to complete the application on your behalf, which increases your chances of approval.

4. Save up some deposit

 Make sure you have enough money saved for a deposit if you need a vehicle finance loan or a home loan.

Conclusion 

Self-employed loans can be used to cover a wide range of financial needs, including business costs and personal expenses. In addition, self-employed loans are good for emergency situations since some of them provide fast payouts.

 As a self-employed individual, you can typically find a loan product that works for you if you have trouble getting funding in the past.

Sometimes unexpected events occur, and we may need extra money to deal with them. When such a situation arises, we can view an African Bank loan as a means of resolving our financial situation. In times of emergency, personal loans are an excellent way to get some financial relief. Personal loans from African Bank are available up to an amount of R250,00.00. Depending on your needs and repayment period, the bank offers short-term and long-term loans.

Besides African Bank, there are other financial services and registered credit providers in South Africa. In this article, we will look in detail at the African bank loan and why you can apply for it.

About African Bank

African Bank is authorized financial services and credit provider. With African Bank’s online loans, they deliver loans in a personalized manner, ensuring that they offer financial solutions that are innovative and are accessible to everyone. They strive to bring their brand to life by representing the diverse population of our country.

The employees of African Bank are well-trained to handle any situation. The goal is for each client to leave knowing that they received the best possible service. Their goal is to match clients’ needs precisely and personally, which means putting themselves in their clients’ shoes. 

Types of services they offer 

Several innovative, flexible, and affordable loan products and services are available through African Bank. some of these products include; 

1. African bank personal loan

There are various things you can do with a personal loan. You can use it to pay medical bills, do home repairs, further your education, and purchase a car. Besides that, the personal loan can help consolidate multiple loans. A personal loan can be the right option to change your financial situation for good.

African bank ensures your peace of mind by offering you the right loan that suits your financial capacity. And also ensure that the loan doesn’t affect your credit score. Besides that, the personal loan African bank offers don’t require you to provide collateral before accessing it.

What are the things I can consider before getting a personal loan?

There are some things you must consider before getting a personal loan. You will have less financial problems once you adhere to the following before getting a personal loan:

1. Ensure your current financial obligations can afford the loan repayments
2. Make a comparison of personal loans from various financial institutions and ensure you get the best interest rate
3. Declare your income and expenses honestly
4. Analyse possible future large purchases which the personal loan may affect

2. African bank business loan

African banks encourage borrowers to evaluate their reasons for wanting business loans. If the evaluation is positive, then getting the business loan wouldn’t be a bad idea. However, applications for business loans may have some requirements or restrictions. 

Therefore, the right alternative you could consider should get a personal loan for your business. This is because it will be easier for you to get a personal loan through your bank statements. Obviously, many business owners start their businesses while they are employed as full-time or part-time employees. So, getting a personal loan will be easy for them.

3. African Bank Debt Consolidation Loan

Consolidation is the process of combining all your existing loans into one. With African Bank, you can combine up to five loans into one easy-to-manage Consolidation Loan of up to R250 000 and save money.

4. Value-added deals

With the help of leading South African brands, African Bank offers entertainment and education vouchers you can redeem on your credit card. During the application process, you can choose a deal you like and attach it to your loan.

4. The African Bank 12% Loan 

If your interest rate is fixed at 12%, you’ll always have peace of mind knowing that your monthly repayments will be the same, since both the interest rate and the monthly repayments are fixed.

What are the African Bank interest rates?

Your credit score, the amount of your loan, and your credit history determine the interest rate you pay on your loan. The interest rates for African Bank loans are as follows:

1. Interest rate (APR) from 15% to 27.75%.
2. In addition, insurance rates range from 5.04% to 5.4%.

Maximum/Minimum loan amount they offer

The amounts of personal loans offered by African Bank range from R1000 to R250,000. However, the bank is responsible for determining the maximum loan balance you can borrow. To determine what is a fair maximum amount of debt, African bank considers your income ratio, credit score, credit history, and financial profile.

Who qualifies for a loan at African Bank

To apply for African Bank loans, you need to meet the following requirements:

1. Recent proof of income showing at least 3 monthly salary deposits;
2. Proof of residence;
3. You should be over the legal age of eighteen;
4. Latest bank statements showing at least 3 monthly salary deposits;
5. A valid South African government-issued ID; and
6. An active email address.

African Bank Loan Application Process

There are 3 ways to apply for an African Bank personal loan;

1. Online: You can apply for an African Bank loan online by filling in your personal details on the bank’s website and following the easy steps outlined.
2. Phone: Applicants may also apply using the call-back form on their website, and a consultant will contact them.
3. Visit branch:  As most people prefer to walk into a bank for loan applications, you can visit an African Bank branch and request a loan consultant to help with the application process.

African Bank Loan Calculator

To assist you with the application process for a loan, we recommend making use of the African Bank loan calculator. You can determine whether you can afford the monthly payments by entering the amount and terms you want to borrow. Getting a loan with a low-interest rate is important as we do not want to end up in a situation where our monthly payments become too high.

However, it is important to note that the African Bank loans calculator only provides indicative values. In relation to the values displayed, African Bank makes no guarantees or warranties. Only a full Loan application, on African Bank’s website, their Banking App, or on Online Banking, or in other channels like their Branches and Call Centre, can provide accurate details pertaining to loans from African Bank.

How to make loan repayments

You can find repayment dates on the front page of your credit agreement Upon crediting your bank account, your first payment is due seven days late. All other payments are due on the first of every month.

Below are the repayment methods you can use:

1. Payroll deduction;
2. Debit order or stop order from your bank account;
3. Monthly deductions on the day you are paid;
4. In-store payments;
5. EFT; and
6. Visa or Mastercard payment;

Repayment Period

The repayment period for the loan can vary from 7 to 72 months, depending on your cash flow and the amount you borrowed. Consequently, you will know precisely how much you will have to repay each month because repayment amounts are fixed.

The first repayment is due seven days after the loan has been deposited into your bank account. Until you pay off the loan, you will need to pay the remaining monthly installments the first day of every month.

Advantages of African Bank loans

1. You receive the money directly in your bank account.
2. Flexible repayment terms; you can pay it over 72 months.
3. Every month, you know how much to pay as the repayment amount is fixed.
4. The application can be made online; there is no need to leave your home and visit a branch.
5. Existing customers may skip a few payments if they qualify for the break feature.
6. Loan settlement options are available in the event of death, disability, retrenchment, or unpaid leave.
7. African Bank interest rates are competitive and affordable.

African Bank Contact details

59 16th Rd, Halfway House Estates, Midrand, 1685

• Email: africanbank@tip-offs.com
• Phone: 0861 111 011
• Website: https://www.africanbank.co.za

Conclusion

African Bank is one of the best banks that provide personal loans in the country. African Bank has grown as an establishment since its comeback acquiring great satisfaction from its clients for their low bank charges and great customer bank services.It is a go-to bank when you need a loan that will be approved and advanced in the shortest time possible.

If you are happy with the interest charged and pay off your loan well, then your commitment will pay off through a healthy credit profile.

Are you thinking of applying for a personal unsecured loan? Different South African lenders offer a wide range of loans, and the details can be somewhat confusing. We’ve broken it down for you in this article and make it easy to understand what unsecured personal loans are all about.

What exactly are unsecured personal loans?

The term “personal loans” is probably already familiar to you. A personal loan is like borrowing money from a financial institution such as a bank or credit union. You can use the money for anything, including paying for a wedding, university fees, and home improvements.

What does it mean when a personal loan is unsecured?

In South Africa, unsecured loans are popular and considered the best option for those seeking to build credit. This simply means that when you take out the personal loan, you do not need to pledge your valuable property as collateral. Therefore, you can apply for and receive the loan without securing it with your property (such as your house or car).

A personal loan that does not require collateral or security is known as an unsecured loan. A credit provider lends you money based on your affordability. As long as you seem responsible and have a stable income, you have a good chance of getting unsecured debt in South Africa.

How do unsecured personal loans work?

As mentioned above, with an unsecured loan, there is no need to use your property or assets as security. Therefore, if you fail to repay the loan, you won’t lose your property. However, unsecured loans are usually expensive because of their high-interest rates.

Lenders offer higher interest rates to boost their chances of getting their money back if you fail to repay the loan. Last but not least, unsecured loans may also have a limit on the amount you can borrow.

What do i need to apply for an unsecured loan

To determine your credit history, lenders require basic documentation for any loan. In other words, they don’t want to give money recklessly to irresponsible customers. In most cases, credit providers will need the following:

Before applying, you need to check if you qualify. General requirements include:

1. South African ID;
2. a minimum monthly income (depends on the lender);
3. proof of income. (Usually, bank statements or payslips issued in the last 3 months);
4. a good credit history; and
5. minimum age of 18 years

Depending on the lender, they might require more documents in order to approve your unsecured loan. Having chosen a reputable and licensed finance company, you can log on to their website. 

General overview of unsecured loans in South Africa:

1. The lowest amount you can borrow: R1000
2. The highest amount you can borrow: R350 000
3. Loan term: You usually have between 1 month and 84 months (7 years) to repay the loan.
4. Interest rate: The maximum interest rate for personal loans in South Africa is 27.5% per annum.

There are several types of unsecured loans, including personal loans, payday loans, and credit lines.

How to choose the best-unsecured loan for you

You might find it helpful to look at the following factors when you’re looking for an unsecured personal loan that suits your needs:

1. Interest rate 

The rates for an unsecured loan may be higher, but there are still options for affordable loans. You also need to determine if you want to have a fixed or variable interest rate.

2. The amount of money you can borrow 

In this case, there are two things to keep in mind. First, you need to decide on the amount you can afford to borrow. The next step is to find a loan that gives you the money you need.

3. Other costs associated with the loan 

You can keep the total cost of your loan low by choosing a loan with a lower APR (Annual Percentage Rate). In addition to the interest rate, the APR includes other charges, such as service fees and initiation fees.

4. Additional features 

In order to do this, you need to gather as much information as possible about your loan of interest. Depending on the loan, you may have to pay for credit protection that covers you if you die, lose your job, or become disabled. If you pay your loan off faster, another lender may charge you an additional fee.

When is the best time to apply for an unsecured loan?

A benefit of unsecured loans is that you can use the money for whatever you want, and you do not need to pledge your home or car. It is, however, wise not to take out a loan unless you really need it.

Don’t forget that borrowed money isn’t free. Interest must be paid on the loan. Even so, there are times when taking out a loan can be beneficial. The following are examples of reasonable times to apply for an unsecured loan:

1. When you have an emergency

There are many types of emergencies. You should never hesitate to borrow money when needed to cover a family or medical emergency.

2. When you want to buy essential items

 Making your life easier may require you to regularly use something like this. Laptops, schoolbooks, and electronics are examples. Even after your car breaks down, you can use the money to fix it.

3. To pay for something that brings value to you

An important holiday or wedding could be planned. In most cases, they are expensive but worthwhile, and you may need some financial assistance to pay for them.

4. To invest in something that brings profit

 You can use a personal loan to invest in something that will make you more money.

5. To consolidate debt 

 In order to consolidate debt, unsecured personal loans are a good option. You can use the money to pay off all your existing debt, leaving you with only one loan that is easier to manage.

Comparing secured and unsecured loans

The main differences between the two types of loans can be explained using the following points:

1. A secured loan, such as a car or home loan, requires you to use your home or car as collateral. Unsecured loans, however, do not require such security.
2. There is no risk of losing your property if you take out an unsecured loan. When you fail to repay a secured loan, you can take your house or car as collateral.
3. The interest rates on unsecured loans are likely to be higher than those on secured loans.
4. Unsecured loans may limit the amount of money you can borrow. The requirements for unsecured loans are stricter as well; for example, you may not be approved if your credit score is poor.

Advantages of unsecured personal loans

When you borrow wisely, you also weigh the pros and cons of the loan you intend to take out. The following are the main benefits of unsecured personal loans:

1. Security is not required. Therefore, you won’t have to worry about losing your valuable assets.
2. With an unsecured loan, you can use the money however you like.
3. Applying for an unsecured personal loan is easy if you meet all requirements. Generally, the application process can be completed online by filling out an application form.

Disadvantages of unsecured personal loans

However, unsecured loans are also associated with the following disadvantages:

1. Typically, they have higher interest rates.
2. In some cases, you may not be able to borrow larger amounts.
3. The loan may need to be repaid over a short period of time.

Conclusions

For individuals looking to build credit profiles, unsecured loans are the best option in South Africa. In South Africa, you have a good chance of obtaining unsecured debt if you have a stable income and seem responsible.

Most people need a little financial help occasionally especially when there is an emergency. Whether it is to meet a school or university’s registration deadline, buy/repair a car, or for some other personal reasons. Whatever the reason, applying for a loan should be reasonably quick and straightforward if you know and understand the process. In this article, we will be looking at all there is to know about Direct Axis Loans.

About Direct Axis.

DirectAxis is the largest nonbank personal finance company. It is a wholly-owned subsidiary of FirstRand Investment Holdings. DirectAxis has been able to maintain a large market share in personal finance because FirstRand funds them.

They promote responsible borrowing and lending and comply with the National Credit Act. As time goes on, they’ve continued to develop the digitization of the business to deliver a positive and meaningful experience to our customers across all touchpoints.

DirectAxis product and service

Being one of the largest and largest and most successful direct marketers in the financial services sector, Direct axis offers a wide range of products. They include;

1. Personal Loans

A DirectAxis personal loan is an unsecured loan, so you won’t have to pledge any assets as collateral. Due to the fact that personal loans are not secured in any way, the financial services provider makes clear each one is accompanied by a personal loan protection plan. The purpose of this plan is to settle your personal loan’s outstanding balance in the event of death or permanent disability.

Upon approval, the loan amount is deposited directly into your nominated bank account. You can spend the money however you want. DirectAxis won’t control how you spend it.

Personal loan highlights:

1. Online loan applications are available.
2. The loan repayment period ranges from 24 to 72 months.
3. Within 48 hours of approval, you will receive money in your account.
4. Fixed monthly repayments for the full term of the loan.
5. You can borrow up to R200,000.00

What you need to apply for a DirectAxis personal loan:

1. A copy of your South African ID
2. Must have a good credit report
3. Need to have a regular monthly income of at least R5000
4. Proof a residence not older than 3 months
5. Recent 3 months bank statement
6. 3 months Payslips

2. Consolidation Loan.

DirectAxis helps you administer and settle your loans if you use their debt consolidation product. With Consolidate Loans you will have access to some of the best debt administrators who will guide and lead you through the consolidation process.

By choosing DirectAxis, you can get a good idea of how much money you will save on consolidation. There is a calculator on the DirectAxis website that lets you know how much money you can save per month by entering your loan amount and repayment amount. 

It is interesting to note that many people who choose DirectAxis as their debt consolidator save between R1000 and R1500. When you consider the months that you still have to pay back your loan(s) this is a significant saving.

Because their loans are unsecured, the borrower doesn’t need to provide collateral. Therefore, your debt consolidation loan will come with an insurance plan that will cover the outstanding amount if you become disabled or die.

Highlights of the DirectAxis debt consolidation loan:

1. The monthly repayment is adjusted to a single fixed amount.
2. Your credit obligations will be settled by DirectAxis’ debt consolidation team.
3. Comes with a single service fee and credit protection plan.
4. Lower monthly payments on qualifying credit.

Your credit health will improve dramatically if you consolidate your debt. Your credit will be consolidated into one product, which will have a less significant impact on your credit score than having many accounts with different lenders.

When you consolidate your debt with DirectAxis, you will only be required to pay one amount, rather than many amounts to different creditors. They will also offer you a consolidation loan that is likely to beat the rate of interest on your debt. You’ll be able to save some extra money this way.

How to apply for the debt consolidation loan:

1. You need to have a good credit score/record.
2. Have a regular income of R5000 or more.
3. Latest 3 months bank statement or payslips.
4. Copy of your ID document.
5. Proof of address.

3. Insurance Products

In addition to its insurance products, DirectAxis also offers funeral coverage. The funeral cover is there to offer financial support to the policyholder’s family after his or her death. The premiums will be based on the age of the policyholder. However, the policyholder can add members of their family for an additional fee. Subscription fees are payable each month by debit order; however, you can also pay directly to DirectAxis.

Short-term insurance is provided by the company in conjunction with Hollard Insurance Company. Car, home, building, and contents insurance are all part of the short-term packages. For DirectAxis clients, this offer is for Hollard short-term insurance products that are affordable. This document provides eight quotes on short-term insurance premiums that can be used to determine discounted rates.

Benefits of Direct Axis Loans 

Taking a Direct Axis Loan comes with a couple of extra benefits. Some of these benefits include;

1. Direct Axis Loans are secure and straightforward. All application processes can be completed online.
2. Your repayments are fixed at the company’s current interest rate for the full term of your loan. They never increase, no matter how much interest rates go.
3. Direct axis loans come with a Personal Protection Plan. This settles your outstanding balance in the event of your death or permanent disability.
4. Repayments are over a term from 24 months up to 6 years.
5. DirectAxis gives you feedback quickly, and you might receive your money within 48 hours. 

What do you need to apply for a Direct Axis Loan

To apply for a Direct Axis Loan, you need;

1. A good credit score/rating.
2. A copy of your South African ID.
3. A recent document confirming your house address.
4. A regular monthly income of at least R5000.
5. To obtain your salary, you must provide the details of your bank account.
6. Up to 3months of recent bank-generated PDF statements or payslips as proof of income.

How to apply for a Direct Axis Loan

Direct Axis Loans has taken out time to streamline its application process, making it simple and quick for interested applicants. You can apply for a Direct Axis Loan by;

• Visiting their official website.
• Applying and providing the necessary information via their online form.

Alternatively, you can always call the Direct Axis call center at 0861 02 03 04 Monday to Sunday, 8 am – 8 pm. You can also SMS your name, surname, and ID number to 43885.

Check out some online loans in South Africa.

Important terms of Direct Axis Loan

Before taking any loan in particular, it is important to be conversant with some key points just so that nothing will take you by surprise. Some of these key points include the fact that;

1. Direct Axis terms solely depend on the amount you borrow, your financial position, and your preference for repayment. 
2.  Interest rates vary depending on several things including the type of loan you get, where you get it, and your creditworthiness.
3. The longer the loan term, the lower the monthly repayments will be but remember you will also pay interest on the amount you borrowed over a longer period.
4. With Direct axis loans, paying off your loan earlier will save you some interest. 
5. There are no penalties for settling before the end of the term.
6. Interest rates can be fixed or variable.
7. Dialdirect Loan Review – How to apply for a Dialdirect personal loan
8. Long Term Loans in South Africa – Everything you should know
9. Short term loans in South Africa – What you should know

Conclusion 

As a registered financial services provider, Direct Axis loan has taken measures to ensure you have a great and smooth loaning experience. Through their straightforward and customer-friendly website, the application process becomes a piece of cake. 

Nedbank home loans: What you need to know

Are you on the verge of taking out a home loan? Perhaps you want to know how that home loan works. You should be particularly cautious when applying for this type of loan if it’s your first time. A lot of the details, such as; repayment terms, documents, whose name the home loan should bear, etc. could worry you. However, the rest of this article will guide you through the entire process of obtaining Nedbank home loan.

About Nedbank

Nedbank is a top financial institution in South Africa. Operating with so much dedication to providing quality services to its members. They Offer wholesale and retail banking services and insurance, asset management, and wealth management.

The Home loan is just one of many financial services they provide. Even though they offer a wide range of financial products, Nedbank has a method of ensuring quality service in each product they offer.

How can I qualify for a Nedbank home loan

For Nedbank’s home loan, as with any other, you have to meet certain requirements. Before applying, you must meet the following requirements;

1. You’ll need a valid South Africa identity card or document.
2. A proof of your income.
3. List of your expenses.
4. A sales agreement or offer to purchase.
5. Your banking details.

What you should consider before taking out the Nedbank home loan

There are things you must consider before getting the Nedbank home loan. They include:

1. Ensure you can afford the home loan

Before applying for a home loan, make sure you can financially meet its requirements. It can be a challenge to meet these demands since you may also have to meet several other expenses.

Additionally, consider how prompt repayment of your loan improves your credit score.  

2. The home of your choice

Be sure to communicate your choice of home to the bank as this will help them know the home loan that is best for you. Ideally, it is important to view the house you wish to buy in person, as what you see on the website may not really correspond to how it appears in person.

3. Await the outcome

After presenting your house of choice and your supporting documents, you await the decision. However, the loan application process can take as long as two weeks before approval.

4. Registering the transfer process

As soon as they approve your home loan, they have to register the transfer process to have the property in your name. They will also require you to pay transfer fees. Accordingly, prepare yourself for this since the transfer fees aren’t always included in your home loan. 

Make sure that the loan includes the transfer fees before you sign.

The Finance Linked Individual Subsidy Programme (FLISP)

The Department of Human Settlements developed the FLISP. The aim was to provide affordable and sustainable first-time homeownership opportunities to South Africa’s citizens and legal permanent residents. Only people making up to R22,000 per month can qualify for the FLISP.

Requirements for the FLISP:

Besides earning a gross monthly income of up to R22,000. There are other requirements you need to make for you to get the FLISP. Some of these requirements includes the fact that;

1. Prospective applicants must be a South Africa citizen or permanent resident with a SA identity document
2. Applicant must be 18 years or older
3. A first-time recipient of a housing subsidy scheme.
4. If you are a first-time homebuyer
5. People who have approved home loan from a financial institution
6. Have at least one dependent who never benefited from a housing subsidy scheme previously.

How does the FLISP work

FLISP is known for its excellent abilities to serve South Africans. They are:

1. Upon submitting your home loan application, Nedbank will assess your credit. This helps to ensure that you can afford to repay your home loan.
2. Upon approval of your application, they will conduct a property valuation immediately.
3. If you are happy with your home loan quotation, you must accept and sign all documents with the bond attorney.
4. During this process, the transferring attorney will work closely with the bond attorney, who will handle your bond application at the Deeds Office. Once that’s done, they’ll register the property in your name. However, the entire process can take up to three months.
5. After they register the bond in your name, you can now start enjoying your new home.

Nedbank home loan self-service

Nedbank’s self-service offers customers the ability to access their home loan accounts by logging on via self-service banking. They can do this from the comfort of their homes at no cost.

How does Nedbank home loan self-service work

With the self-service, customers can manage their home loans and carry out various transactions from anywhere.

The following are what Nedbank customers can do with the self-service;

1. Customers can view their statements online.
2. There is a balance check feature available to them.
3. Their payment information
4. Transfer funds to and from their home loan account using their linked Nedbank current or savings account.
5. They can bank with complete security, 24/7.

How do I set up Nedbank self-service for a home loan

There are some things you must do to get started with Nedbank’s self-service home loan. Take the following steps to activate your self-service banking profile:

1. Besides being able to apply online, you can also call Nedbank’s Contact Centre on 0860 555 111 and tell them your interest.
2. Prove your identity with your account number and proof of account.
3. Ask them to create a self-service banking profile for you. And that they should send you the profile number.
4. Use any of the self-service banking channels to exchange the temporary PIN you receive with the one you like, including:

How long does a Nedbank loan take to be approved

Once all required documents have been signed and submitted, the loan approval process can take up to two weeks.

How do I contact Nedbank home loans

To reach their customer service department, dial 0860 555 111. Additionally, Nedbank agents can provide expert guidance and assistance throughout the entire process. They also offer a callback service.

Internet banking: www.netbGet them to set up a self-service banking profile for you. And ask for the profile number.ank.co.za

Telephone banking: 0860 555 111

Cellphone banking: nedbank.mobi

SMS banking: *120*001#

Final Thoughts

It is often best to take out a home loan in order to snag the home you want. Particularly, when finances are tight. Most lenders that offer personal loans, car loans, or student loans also offer home loans. A borrower’s credit scores will be in a better condition if they repay these loans promptly. Failure to repay these loans on time could result in further loan denials.

A quick personal loan is becoming a popular choice for consumers because FinChoice’s financial products and services are easy to access, transparent, and willing to help you every step of the way. Without mincing too much words, lets jump right into all there is to know about Finchoice loan 

About finchoice 

FinChoice is a digital financial service provider with offices based in Cape Town. Their online loan options are flexible, and they also provide funeral plans. The financial institution is a division of the HomeChoice Group and fully authorized by the National Credit Regulator.

At a glance, FinChoice provides loans of up to R40,000 for new customers and allows existing customers to take out a new loan even if they already have a loan. 

How does Finchoice loan work 

FinChoice is an online South African lender that offers innovative loan products for borrowers who meet their requirements. MobiMoney offers three types of loans: a personal loan, KwikAdvance, and a MobiMoney loan. With the National Credit Regulator regulating FinChoice loan interest rates, you can trust these products are fairly priced.

Typically, these loans do not disclose the fees and charges upfront, so you should carefully read the terms and conditions before signing. The amount of the loan can also be altered, so you can select what works best for you. If you are an existing customer, the application process is faster, and you may be able to top up your loan amount. 

Loan Products they offer

With Finchoice, you can choose from a wide range of flexible and affordable financial products. These financial products include, 

1. Mobimoney
2. KwikAdvance 
3. Personal Loans 
4. Premier loans
5. What is Finchoice Mobimoney 

To use FinChoice MobiMoney, you must first register for MobiMoney. By visiting www.FinChoice.mobi  you can easily activate FinChoice MobiMoney Online for free. After that, fill in your phone number and ID, then follow the instructions.

You can utilize MobiMoney for the following benefits once you have been granted access:

1. Borrow between R100 and R10,000
2. Choose whether to pay back the money in one, two, or three months
3. You only pay interest on the money you borrow
4. Apply for a loan and withdraw the money on the same day, wherever you are
5. You can keep borrowing and repaying money many times per month

2. KwikAdvance

KwikAdvance is a service that lets you borrow between R100 and R2,000. The loan is also known as a payday loan because the full amount is due on your next payday. These types of loans are perfect when you only need a little bit of cash, in a hurry, or if you need extra cash to get you through until your next payday.

3. Flexi loan

Flexiloan gives you the option to borrow up to R10,000 and offers you 6 months of easy repayment terms for you to pay back the loan. Additionally, the service comes with a built-in protection plan that will cover your outstanding loan if you become permanently disabled or die.

4. Premier loan

A loan like this is best suited to paying off more expensive expenses, such as outstanding medical bills or replacing your car. This service allows you to borrow up to R30,000 and repay it over a period of 12, 24 or 36 months. With an easy-to-follow and manageable repayment plan, the loan can be paid back for however long you like.

Getting these loans will come in handy when you need cash to cover unexpected expenses, such as home or car repairs or school tuition. By extending the repayment term, it allows you to stagger payments to suit your budget, and you do not have to pay the full amount in one lump sum.

What do I need to apply for a Finchoice loan?

You are required to fill in the online loan application form.

1. ID number
2. Employment information
3. Monthly income
4. Expenses
5. Bank account information

To qualify, you would need to meet the following criteria: 

1. Must be a HomeChoice customer
2. Have a valid South African ID
3. Provide your most recent payslip 
4. Have a valid South African bank account 

Terms and conditions require your consent, which includes a credit check. You will be notified once the outcome has been determined.

Finchoice Interest rates and other fees 

In terms of the NCA (National Credit Act), FinChoice stipulates that individuals must pay the total amount stipulated in the loan agreement, including the loan amount, all costs, and interest. There is no additional information regarding their interest fees.

There is no breakdown of additional fees, and this can only be found out when applying. Unfortunately, there is no indication of what the loan initiation fee may be. The initiation fee is, however, limited to R1000 in accordance with NCA regulations. 

The loan agreement would specify the specific amount. 

Finchoice loan application

FinChoice offers assistance if you are unable to make a payment due to unforeseen circumstances. If this is the case, please contact FinChoice to help you make arrangements when you need it most. You have to notify Finchoice or you will be charged additional fees due to late payment.

Here’s how to apply 

1. Log in to the site and create a unique login before you upload your supporting documents.
2. Alternatively, you can upload your documents directly to the site. If you have any supporting documents, you can submit them with your application. Simply add the documents as an attachment. The documents you provide will be secure.
3. Your documents may also be emailed to docs@finchoice.co.za using your ID number as the subject line to facilitate easy tracking.
4. You can fax your documents to 021 680 8257
5. The easiest way to apply for a loan if you don’t have access to a scanner or an upload service is to take a picture of your documents with your cell phone camera and then send it via WhatsApp to 063 482 7799.

So contact FinChoice today for your free no-obligation loan application.

Loan Repayment

The KwikAdvance product is the only installment that would be due as per the date agreed upon when the loan was applied for. 

As for the rest of the products, FinChoice will raise the debit order on the 30th of the preceding month, so that it will be deducted on the 1st of the following month. For loans that require a payment in December, you can raise the debit order on any day starting from the 10th. 

FinChoice uses the Non-Authenticated Early Debit Order (NAEDO). The system tracks the availability of funds in your bank account, as well as when they become available. As soon as funds are available, the debit order will be activated. Typically, this system is used in December, since most people are paid earlier than usual. It is usually in your loan agreement, so when you sign it, you agree to it. 

How do I skip a payment on Finchoice

There are a few ways you can request to skip a payment:

1. Login to finchoice.mobi and request the skip online.
2. Request a KwikSkip on KwikServe by dialling *120*1048#
3. Call us on 0861 346 246 for the skip to be processed telephonically.
4. SMS ‘Skip’ to 083 8555 700 and we’ll call you.

How do I check my Finchoice balance

If you would like to view an interim statement or check your balance, visit finchoice.mobi, dial KwikServe at *130*1048#, or call our call centre at 0861 346 246.

How do I contact Finchoice?

If you would like to speak with representatives from FinChoice, you can call 0861 346 246. The support team is very responsive and has a thorough understanding of the product.

•  Monday to Friday, 07:30 – 19:00
• Saturdays, 08:00 – 17:00 
• Sundays, 09:00 – 14:00 
• Public holidays, 08:30 – 15:00 

• Phone: 0861 346 246
• Website: www.https://www.finchoice.co.za 

Conclusion 

With a wide range of financial product available for prospective applicants to choose from, Finchoice remains an efficient financial service provider. They also have one of the most flexible repayment plans dedicated to ease the burden of repayment on their customers. Be sure to read through thoroughly for a great loaning experience.

Students can sometimes find their lives challenging, regardless of the course or program they are enrolled in. These challenges may occur in different formats and also have different solutions. Due to the fact that many students find it difficult to meet their financial obligations. Standard Bank has put together a loaning scheme out of utmost desire to serve. Its sole purpose is to ease the struggles of students.

About Standard Bank

The Standard Bank is a deeply rooted financial services provider. Their employees, clients, and communities have been served and supported for over 156 years now. With a presence in more than 20 African countries and key global markets, their differentiator is their long-term commitment to Africa.

How Standard Bank student loan works

The Standard Bank student personal loan covers tuition fees as well as accommodation, books, and study equipment such as a laptop. The total cost of these costs will determine the loan amount. Your surety’s salary income, usually your parent, will also affect the loan amount. In general, you can get the financial assistance you need.

What are the requirements for applying for a Standard Bank student loan

Applicants for a Standard Bank student loan must have and be prepared to provide the following documents; 

1. ID documents (student & surety)
2. Proof of residence not older than 3 months (student & surety)
3. 3 months’ payslips (surety)
4. 3 months’ bank statements for non-Standard Bank clients (surety)

They also require the following course-related documents during the application process;

1. Acceptance letter or proof of registration from institution
2. Proof of costs for tuition, accommodation and textbooks and/or equipment
3. Proof of your latest academic results

Who can apply for a Standard Bank student loan

The application process is super straightforward, but before application, it is important to know that;

1. Only South African citizens can apply
2. Standard Bank and non-Standard Bank account holders can apply for full-time and part-time student loans 
3. Your surety does not have to be a Standard Bank account holder
4. If, however, you apply to study overseas, your surety must bank with Standard Bank South Africa

It is also important for Matriculants to know that they will need a copy of their final National Senior Certificate results to complete their registration process.

What is the minimum/maximum amount of student loan offered by Standard Bank

Before applying for a loan of any kind, it is important to know and understand the basic terms to make efficient decisions. With Standard bank, the minimum amount you can borrow as a student is R5000.  They release this amount to the prospective student after loan approval.

While they base the maximum amount on affordability and the ability to repay the loan. This feature gives every prospective student the elasticity they need to weigh their options and make a final decision that’ll ease every financial challenge they might be facing.

How to apply for a Standard Bank student’s loan in minutes

It is well known that even 24 hours may not be enough for the average human to accomplish all his tasks. Due to the fact that being a student can be time-consuming, Standard Bank has optimized the loan application process to be less time-consuming for students.

To apply for a standard bank student loan all you have to do is

1. Apply for pre-approval on the My Student Loan Portal
2. Once they approve the online application, get the aforementioned documents ready
3. Take the documents with you to the nearest standard bank branch.
4.  Where a consultant will be waiting to assist you with your final application process
5. They make all payments to the institution and relevant parties.

It’s easy peasy, isn’t it? Additionally, you have 15 days to complete the process by visiting a branch. If your pre-approval expires, you must restart the online application process.

How are funds paid

After the execution of the final application process, they send funds to their area of purpose, respectively; 

1. They pay tuition directly to the institution
2. Accommodation fees will be directly into the landlord’s account 
3. They pay textbooks and equipment directly into the surety’s transactional account or the account of the student if they are self-assured 

Repayment terms

Standard Bank student loans are designed to favour you as a student in terms of repayment. During your full-time studies, your surety will be responsible for only the interest on the loan. The amount will be taken from the person’s bank account. The principal amount and interest will be due upon completion of your studies.

During the repayment period, you will pay fixed monthly installments. As a recent graduate, this is quite helpful for managing your finances. Moreover, you will have a grace period if you are completing an internship or participating in a similar type of program.  

Benefits of getting a Standard Bank student loan

Apart from the fact that the loan is available to ease the financial challenges of students, they also provide the following benefit;

1. It gives you what you need when you need it

A student loan is tailored to your specific needs, and the process is quick and easy. You are paid directly to your institution for tuition, your housing provider for accommodations, and a bank account for books and study equipment is directly linked.

2. It gives you the flexibility to focus

Full-time students do not have to repay their student loans until they have completed their studies. You will have the financial freedom to focus on your studies and to build the future you want when the person who signed surety for you only pays the interest and fees on the loan. Standard Bank offers flexible monthly repayments to self-assured students.

3. The interest rate is lower

You can get a student loan at a lower, personalised rate than a personal loan or a credit card, paying as little as 7%* interest per year.

4. Applying is easy

Before you complete your application at your closest branch with all of the required documentation, you can get pre-approval online.

Conclusion 

Standard Bank has strong connections in the real economy and a very deep understanding of the market.They’ve been able to not only unlock opportunities but also mitigate risk for their broad range of clients. With a proper understanding of the plight of the students and other customers, they’ve put together exceptional deals and loan services to ease their challenges.

More often than ever we get caught up in financial emergencies. It means loans provide a substituting aid to these emergencies in whichever way they might come. Some of these loans come in the form of a long or short term repayment period. Woolworth’s loans offer this type of service and more. Now let’s take a quick look at how and why Woolworths loan is one of the best financiers out there.

About Woolworths Loans

Woolworth’s financiers began in the year 1971 as the Safeway Employees Credit Co-operative. It was initially known as a Safeway credit cooperative before it was acquired. The credit union now became Woolworths loan in 1985.

The core goal of the establishment is to offer members a better alternative to banks and other deposit-taking institutions. They focus on providing quality financial products with competitive interest, minimal fees, friendly and personalized services. 

How they operate

Taking out a Woolworths personal loan can get you up to R75 000 in cash. The loan can be repaid within a flexible time frame of 60 months. They provide affordable personal loans at the lowest possible interest rate. Your credit profile and financial capability determine whether you can qualify for a loan. Credit ratings determine how low your rates are, so if you have a good history of credit, you are more likely to get them.

Ultimately, Woolworths wants to help you grow your financial opportunities. You can also find a number of deals online or in-store that will help you save a lot of money. Take advantage of their low-interest cards and you will find that you can save even more! 

Want to know the best part

Once your loan is approved, the money will be deposited directly into your bank account within 48 hours.

And that’s not all…

… Woolworths also offers revolving loan. With this financial service, you can use the money you’ve paid back as many times as you want.

They provide personal financing at low monthly fees and with low initiation fee amounts. You can settle your Woolies loan at any time without penalty.

What are the requirements for applying for a Woolworth loan

To qualify for a Woolworth loan, they require a few documents for submission to the admin either online or offline. Some of the necessary documents are seen as follows;

1. Valid South African ID
2. Proof of income
3. Schedule of monthly household income and expenditure
4. Proof of address (A bill in your name which quotes your address)
5. Offer to purchase
6. Bank statement

They use a credit scoring system to access almost every application, and send feedbacks within 24 to 48 hours after application.

How to apply for a Woolworth loan

With a vision of expansion and becoming the most preferred financial service provider within South Africa, the Woolworth application process is pretty hassle-free. The application process can either be online or offline.

The offline application involves physically visiting any of their group branches scattered across the country. The process also involves putting a call through to their financial call service center 0861 50 20 20 (international callers, please dial +27).

The online process on the other hand involves the following stages; 

1. Visiting the companies website at www.woolworths.co.za.
2. Clicking loan on the top left option
3. Selecting the package/loan service of the interest
4. You could either download the application PDF or fill it online
5. Filling the application form with your correct information
6. Uploading the required documents
7. Double-checking the information provided and submitting them.

Once they review and approve your application, you will receive the cash in your specified account within 48hours.

What loan products does Woolworths offer

Inspired by the zeal to provide top-notch financial services to their customers when they need it, Woolworth’s financiers have the following services in stock for their prospective customers;

1. Home loans
2. Revolving Loans
3. Car loans
4. Personal loans
5. Overdraft
6. Visa credit cards

What is the interest rate for a Woolworth loan

Before applying for any loan, understanding the interest rate charged is very important. This helps you get a clear view of what to expect during the repayment process.

For Woolworth’s loans, the interest rate may vary depending on the loan taken. For easy comprehension, they have optimized and divided the interest rate category into two which are 1 year fixed terms and 2 years fixed term. The first category changes an interest rate of 2.75% per annum, while the second charges an interest rate of 2.89% per annum.

Get a deeper interest rate nuggets on the Woolworths official site.

Woolworths Financial Services Contact

Are you looking for more information about Woolworths  loans services?

Call 0861 502 010 to speak to a financial consultant with detailed information about the Woolies loan.

Alternatively, visit www.woolworths.co.za to read more online.

Conclusions

Inspired by the goal of providing quality financial products with competitive interest rates, minimal fees, and friendly, personalized service, they’ve been able to expand and improve their financial products to suit every purpose of their prospective client.