Compare the best loans of South Africa and find the lowest rate
Are you trying to renovate your home but cannot afford the costs? Would you like to build your first home but you are out of money? Let me tell you, this is the perfect spot to get a quick solution. How is that possible? Through loans that will enable you to buy new furniture for your existing house or your first home. And that is possible thanks to African Bank, South Africa´s leading bank.
In the following article, I will first give you some tips related to Home Loans so that you know every aspect of this type of loan. Then, I will talk about African Bank´s Personal Loan, which allows you to either build your first house or make improvement to the one you already have. Finally, you will get contact details of this bank in South Africa, so that you can easily apply for a loan for your home.
Tips regarding Home Loans
1-Try to save some money for making down payments: it will always be determined by the loan you choose and your broker, but usually the down payments the bank will ask you to make can be between 2.30% and 10% of the total value of the house you want to acquire. So it is advisable if you plan beforehand what your budget will be so that you have the money for the down payments.
2-Control what is your credit record: if you possess a good behavior in terms of previous loans granted by other companies, that will be crucial at the time of deciding if the loan is granted or not. So, before the application process starts, I recommend you to make a copy of your credit record.
3-Put in order every document related to your finances: you know that during the application you would be requested to submit certain documentation, so it is advisable to gather every document in order to facilitate the procedure.
4-Make use of the loan calculator available in the bank´s webpage: calculators constitute a perfect tool in order to check your affordability, as you can get to know the value of the monthly payments you will make.
5- Try to get the prequalification: it happens that most banks will ask you to start the prequalification process before obtaining the loan. They will only need certain financial data regarding your salary and your savings. Then, after you have passed this stage, you can get to know better how much money the bank can lend you.
6- Answer to all the inquiries your lender may have: once you have finished the application procedure, it is extremely crucial that you give an answer to any type of request the bank can have related your financial status. By doing this, you will avoid a delay in the application procedure. Moreover, it is vital that you give the bank every document and paperwork as soon as they ask you to do it.
7- Behave well during the application procedure: this has to do with keeping a perfect credit score during the time the lending program is still in process. This means that you cannot have any accumulated debts and bills to pay. Keep a perfect credit history.
Now that you know some tips at the time of applying for a Home Loan, let’s see how African Bank can help you get the home you want or innovate the one you do have. This is possible because of their Personal Loan.
A personal loan´s aim is to guarantee that every personal need a client can have is fully satisfied by the bank thanks to the financial support it can give. Now, one of those personal needs has to do with the desire to have your first property or the desire to make improvements to the one you already possess.
With African Bank´s Personal Loan you can make those wishes come true. How? Let’s see its features:
-Customers can solicit the bank amounts around R 500 an R 200 000 in order to build their first house or buy new equipment and furniture
-Customers can take a lot of time to finance this loan, since they have periods of 3 months and also periods of 72, which is a lot
-The instalments will be partially reduced by the lender and they will be paid on a monthly basis as it is the case with every bank
-Customers will be able to call on a number designed for customer help
-Customers can finance the loan by giving their account to the bank, so the money is deducted from there
-The application procedure can take place at a branch, over the phone or by clicking in the bank´s website
Contacting African Bank in order to get a loan for your home
One of the bank´s physical branches is found at the Tygervalley Centre in Cape Town, specifically situated in 140 Willy Van Scoor Street. This branch is in the first shop. Its telephone number is the following: 27 21 480 7770. It opens during weekdays from 08:30 to 05:00 pm.
There is another office in Pretoria, specifically at 171 of Van Der Walt Street, whose telephone number is 27 12 323 7871. It opens Mondays to Fridays from 8 in the morning to 5 in the afternoon
You can try the bank´s free phone number designed for customer support, in order to ask any questions you might have as regards the bank´s loans. You can even start an application through this media.
Try visiting African Bank´s website, which is very complete and has up to date data about the loans and insurances the bank offers to South Africans. In the same webpage you can make use of online banking.
Having said that, if you were looking for an easy and quick way to finance the purchase of your first home or make the one you have bigger and fancier, you can count on African Bank for sure. Take advantage of their Personal Loan and see how that dream you have can easily come true!