Compare the best loans of South Africa and find the lowest rate
Are you having trouble saving money to get that car that would simplify your life? Do you feel you’ll never save enough to buy it? A fine solution could be asking for financial help. I’ll refer to two lending companies from Durban, South Africa for you to compare and decide on the best one. First, I’ll refer to Barko Financial Services, known as BFS. And then, you’ll find information about Old Mutual Loans. I’ll go over requirements, rates and the contact details for each company.
BARKO FINANCIAL SERVICES
Let’s start by referring to the BFS’s addresses. Although the Head Office is located in Lydenburg, they have plenty of branches in South Africa so; you can apply from any part of the country. Barko Financial Services (Pty) Ltd. Head Office’s complete address is 59 Burger Street, Lydenburg, 1120. But, for those living in Durban, for instance, you can find a BFS’s branch at Nabeela Court, Shop 3 Ground Floor, 37 Ingcuce Road. You can use the following telephone number, (031) 301 2217 and, this email address, email@example.com.
If you live in Johannesburg, you can visit BFS at 67 Simmonds Street, Shop 5, call them at (011) 838 5262 or, email them to firstname.lastname@example.org. In this city, there’s another branch at 45 Western Building, Booysen Road. The contact number in this case is (011) 499 1600 and, the email email@example.com.
Now, if you want to avoid the hassle of transportation, you can always get in contact with Barko Financial Services via email or using the phone. In case you have any query, you can write them to this email account, firstname.lastname@example.org. Besides, there’s a Toll Free number, which is 080 777 3777 and, the office number, which is (013) 235 1030.
Barko Financial Services requests their borrowers to:
- be 18 years old or older to apply for a loan.
- be a SA citizen.
- have a regular job.
- own a bank account.
In order for borrowers to prove the previous information they should provide BFS with the following documentation:
- South African Identity Document.
- Proof of Address like a household utility, for example.
- Your current pays lip that shows your monthly income or, bank statements showing the salary deposits.
OLD MUTUAL FINANCE LOANS
If you decide to work with OMF, you can think about requesting a loan amount up to R175000 for a period from 3 months to 60 months. Taking into account the loan size, the length of the loan and your particular situation like your credit profile, for example, Old Mutual will state an APR from 19.7% up to 72%. Besides, there will be an originator fee you’ll have to pay only once and, some administrative fees that will be added to the monthly instalments.
Keep in mind that for loan amounts between R8000 and R175000, the minimum repayment term is of 18 months. In the same way, if you apply for a loan of R5000 maximum, the length available is up to 1 year.
There’s a useful tool for borrowers to have an estimate on the total cost of the loan. There’s the
Let’s go over an example. For a quote of R30000 for over 48 months, your monthly payment can be form R920.39 to R1193.26. Remember, administrative fees will be charged to the cost but, you can have an approximated idea on the money you’ll have to pay every month.
As I told you at the beginning, Old Mutual Loan is placed in Durban and, you can find some branches in this area which I’ll refer to next. But first, remember they work through the entire country so; they have many branches in South Africa.
Let’s see just some of the addresses for Durban. 1) There’s an OMF’s store in the Natal Bank Building. The address is Shop 4, 71-77 Gardiner Street. 2) There’s another location at 385 Smith Street or, at Shop 254, Pavillion Shopping, 5 Jack Martens Drive in Westville. 3) Also, applicants can go to the corner of Albert, Victoria & Brands and find the shop 8 in Qualbert Centre. 4) Apart from these, you can also direct to the General Accident Building placed at 47-49 Field St. and get to the shop Nº 4.
Now, I’ll expand on the email addresses and the contact numbers for the previous branches.
1) The email address for this branch is OMFDURBANGARDINERSTR@OMFINANCE.CO.ZA and, the contact number 031 – 3190808.
2) For the second branch named, you can email to OMFDURBANSMITHSTREET@OMFINANCE.CO.ZA or, dial the number 031 – 3190911. For the second branch, write to OMFWESTVILLEPAVILLION@OMFINANCE.CO.ZA and, call to 031 – 3190867.
3) In this case, the email is OMFDURBAN-ALBERTCENTRE@OMFINANCE.CO.ZA and, the phone is 031 – 3190800.
4) And last, for the last branch these are the contact details. The email address is OMFDURBANFIELDSTREET@OMFINANCE.CO.ZA and, the telephone number, 031 – 3190875.
Keep in mind, as there are more branches in Durban and, the rest of the country, no matter where you live, you can find one of Old Mutual Loans locations and apply for a loan.
385 Smith St., Durban, KwaZulu Natal 4001.
From 19.7% to 72%
Up to R175000
Mon.- Fri.: 8am to 5 pm. Wed.:9 am to 5 pm. Sat.: 8 am to 1 pm.
Requirements to apply
Employed, earn R2500 or more, SA citizen.
To conclude, buying a new car is not always easy but, if you’re ready to try to get that new car, you can choose either of these two lending entities to help you. Don’t waste any more time and, go for it.