Orphans and Grade 12 pupils from poor families are being urged to apply for bursaries through the National Student Financial Aid Scheme. NSFAS coordinator Dumisane Thwala said the bursaries would be offered to those who want to work for government after completing their university studies. “These students will not be asked to pay back […]
Category: Loans
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DEBT PROTECTION AND INTERESTS RATES ON LOANS
PAYMENT PROTECTION INSURANCE To avoid the above-mentioned penalties, it is advisable to take out Payment Protection Insurance. It ensures the repayment of your loan if you die, lose your job or become disabled or ill. You can obtain Payment Protection Insurance on your home loan as well as for your credit card and personal loans. […]
FACTORS TO CONSIDER WHEN APPLYING FOR LOAN
Taking a loan is a big responsibility and you are required to pay back all the money plus interest. There are numerous factors that will affect the cost of your loan, namely: Credit Record – Your credit record will determine your loan rates. If your credit record is good and shows reliability, you will incur lower […]
BASIC THINGS YOU NEED TO QUALIFY FOR A LOAN
CRITERIA FOR APPLYING FOR A LOAN Every financial institution has different criteria for their loan applications dependent on the type of loan. There are, however, common elements. Generally, when you apply for a loan you must: Be 18 years or older Have a valid South African ID Hold a bank account Provide proof of residence […]
SECURED LOAN VS UNSECURED LOAN MAKE YOUR DECISION WISE
A Secured Loan is a long-term loan, which has a guarantee attached to it. It’s the best way to obtain large amounts of money and purchase property. Assets are used as security in case of a default. Large amounts of money will not be borrowed to you without assurance, which is why you place your home or […]
TYPES OF LOANS THAT YOU CAN APPLY FOR
Banks provide various types of loans to ensure that they meet all your needs. Home Loan – The bank borrows you money, and the house remains the property of the bank until the final instalment is made. Consumers are required to pay back the loan on a monthly basis, at the given interest rate and over […]
What is a loan ? Know it all
Here are some definitions of what a loan it really is. Definitions from the dictionary and from the financial institutions. A loan is a sum of money borrowed from the bank to assist for certain planned or unplanned events. The borrower is required to pay back the loan, including the interest charged over a stipulated […]