ZEZEZ IMALI

What is a Long Term/Personal loan?

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A Long term/Personal loan is generally associated with an unsecured loan. It is a great way to get cash when needed for an emergency, home improvements or leisure activities like weddings and holidays.

Personal loans can range between R1,000 and R350,000 and a minimum repayment can vary from 7 to 12 months, and a maximum repayment period of 72 months. Repayments are typically calculated at a negotiated % interest per annum. Once you have applied and received a loan, you will need to pay back the personal loan in monthly instalments over your chosen period.

Before you select a personal loan, you should make sure you have a good understanding of how much money you need and over what period. This will influence the interest rates charged and the terms in which the lender lends you the money.

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Always Apply for a loan designed around your needs.

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A Long term/Personal loan is a fairly quick way to access funds and you get to choose a payment period that works for you. But you can only borrow as much as you can afford and will need a good credit record. To apply you need to earn a salary, have a bank account and be between 18 and 65 years.

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What to know when applying for a Long Term/Personal Loan loan:

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• The amount you borrow is dependent on how much you can afford.

• You can choose an affordable repayment period.

• You need to earn a salary, have a bank account, and be between 18 and 65 years.

• Affordability checks will be done to make sure that you can afford the loan.

• You can access your funds straight away when approved.

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To apply, you need the following:

• Latest original payslip

• Proof of physical address (not older than three months)

• Green barcoded South African identity book or ID smart card

• Valid passport with a valid work permit for non-South African citizens permit

• Bank statements for the last three months 

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Fees charged include:

• Initiation Fee

• Monthly Service Fee

• Credit Life Assurance Premium

• Interest rates - Variable interest rate linked to prime

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*Qualifying for a loan is dependent on your Creditworthiness and your Affordability.

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Please complete the contact form and one of our staff members will contact you to give you more information on how the process works.