Finbond loans might be the ideal choice for you if you are looking for a short-term unsecured loan, not more that R25 000.
You have come to the right place as we will discuss how much you can apply, for how long and the requirements.
How Much Can you Apply For? Minimum of R500 and Maximum of R25 000
For How Long? Up to 24 Months to repay
What are the interest rates? Fixed, based on the amount borrowed and financing period
Loan Amount: R20 000
Interest Rate: 12.5%
Loan Term (In Months): 24
Monthly Instalments: R964.15
Total Interest: R 2 707-51
Total Payment: R22 707-51
Please note this is just an illustrative example. To get the right and going interest rates, always confirm with Finbond Mutual Bank.
What Do We Know About Finbond Loans?
Finbond loans are provided by Finbond Mutual bank, an authorised financial services provider that fully complies with the National Credit Act.
What is a Mutual bank? A “Mutual Bank” also known as a “Mutual Savings Bank” is a bank which is operated on a Mutual Bank model, with the specific goal of encouraging savings and providing benefits to its depositors.
When someone deposits funds in a “Mutual Bank”, she or he essentially buys an ownership stake in the bank and are entitled to vote at shareholder and member meetings.
Finbond Mutual Bank is part of the Finbond Group Limited which is a leading North American, Latin American and South African financial services institution.
Finbond’s South African branch network consists of 366 branches. Finbond Mutual Bank has 173 branches of which 52 are located in Gauteng, North West, Limpopo and Mpumalanga, 27 in Kwa-Zulu Natal, 39 in the Western Cape, 54 in the Eastern Cape, Free State and Northern Cape. Supreme Finance has 101 coastal branches and 93 inland branches.
Benefits Of Finbond Loans
It is safe and quick to apply for Finbond loans. Simply visit their website and complete the loan application form. At Finbond they use all the latest security measures to ensure the details you submit are protected.
Finbond loans are offered at a fixed interest rate. This means your monthly instalment will never change and affected by the fluctuation of the Rand.
No security is needed in order to apply and get approval for a loan. This means you can apply for a loan even if you don’t have any fixed assets.
You may have a maximum of 3 loans at the same time. However, for your financial well-being they will only offer you an additional loan if you can afford to pay the monies back.
There is no need for you to have an account with a specific bank to get a loan. Finbond deals with most South African banking institutions. However, your account is required to be to accept debit orders
What Else Do You Need To Know?
You cannot apply for a Finbond Loan on someone’s behalf.
Your loan will be paid back by debit order on your bank account. This will happen on the repayment date you selected. Your bank account details from where you want your monies to be deducted will be captured during your application process.
What You Need To Apply For Finbond Loans
You need to be a South African citizen who is over 21, have your own bank account in which your salary/grant is deposited monthly and have a regular income. You will also need to have a valid email address and cell phone number so that we can keep in touch.
In addition to the above you will also need to provide the following:
- Certified ID
- 3 Months payslips
- 3 Months latest bank statements
- Certified proof of address
How to apply? You can apply online by completing their application form on their website.
Alternatively, you can sms “credit” to 30365 and one of their consultants will get in touch with you.
Most low income earners are neglected by other credit providers. However, this is not the case with Finbond Mutual Bank.
If you are in need of financial assistance and looking for short-term unsecured loan, Findbond loans are an excellent choice.
Finbond Mutual Bank Contact Details
Telephone: 086 0004249 / 012 460 7288
Rigel Office Park
446 Rigel Ave (South)