Credit and financing

Wills

  • Financial institutions will assist you to draw up a Will
  • This helps to ensure that your assets are distributed according to your wishes.
  • A fee is often charged to draw up a Complex Will
  • You may also draw a will online free of charge with some institutions.

Finance Linked Individual Subsidy Programme (FLISP)

If you qualify, the government may grant you a housing subsidy. This subsidy is a once-off lump sum payment towards the cost of your house. This is done through governments Finance Linked Individual Subsidy Programme (FLISP).

  • In order to qualify the employee must earn a joint income of between R 3 501 to R 15 000 per month and be a first time home buyer.
  • The once-off FLISP subsidy amount ranges between R10 000 and R87 000, depending on monthly income, and the maximum price of a property that can be financed through FLISP is R300 000. Once the bond amount is approved, the applicant must approach National Housing Finance Corporation for the subsidy or the nearest Local Municipality.
  • Optional Home Loan Protection Insurance can be taken with the Home Loan to provide peace of mind, knowing that the debt will be protected

Car Finance

If you are in the market for a new or used vehicle, various Financial Institutions offer great deals that will put you in the driver’s seat.

They offer various flexible finance options that will allow you to buy the car of your dreams and pay for it over a period of time that suits you.

If you are interested in purchasing a vehicle, but unsure on the value you qualify for, you can complete a pre-approval quote, and you will receive a response within minutes.

Various financial institutions have different minimum amounts that they finance eg from R40 000 and vehicles up to 10 years at deal maturity

The pre-screening process is part of the application completion process where you are asked the pre-screening questions.

Application process

  • You can call the call centre  for an application to be completed telephonically
  • You can apply on the internet
  • You can visit a branch
  • You can go to a dealership

Minimum income required to meet the min R40k amount financed is R5500.

An outcome of the application (received immediately after submission) could be

  • Accept
  • Reject
  • Refer - The application is neither approved nor declined. The system could not make a decision and require a credit manager to look at the application manually and make a decision of either an approval or decline.