Simulate your Loan Quote with Bidvest | Apply in minutes
Bidvest Bank is part of the Bidvest Group Limited, founded in 1988. This bank specializes in business-centered services. By reading these lines, you will get to know how this bank operates, what kind of loans you can ask for, how to simulate your loan, and contact details of Bidvest Bank.
How does the Loan Application Work at Bidvest Bank?
Bidvest Bank focuses on financial services for business owners. For this reason, the way they do business is a little different from other banks. They treat each customer with care and attention, making sure every need is catered for. This level of customer care asks for a more personalized kind of attention. Thus, the loan application at Bidvest Bank should be performed by calling the bank or by paying a visit to one of its branches. You will not be able to apply online; however, you can make queries through the internet.
2 main Business Loans you will Find at Bidvest Bank
This bank has 80 branches in South Africa located in strategic cities to help you with your financial needs. As we explained above, Bidvest Bank specializes in catering to the needs of businessmen or entrepreneurs who need finance to make their businesses grow.
Here we wanted to make an emphasis on two products offered to companies in our country:
- Finance for your asset-related expenses. This loan is targeted to meet different needs. For instance, you can use it to buy vehicles for your company, to buy or build a property, to cover the maintenance costs of your machinery, among many other uses.
- The other broad type of financing is the one that provides working capital for you to cover the expenses related to the operation of your company.
These loans are offered at competitive rates and the installment structure of your loan will be carefully and individually be agreed to with you.
What kind of Interest Rate is offered on Bidvest Bank Loans?
This is the question we get asked the most, no matter which lending company we’re talking about. This is an area that can get really tough to discuss because the answer will always be “it depends”. The interest rate you will be offered will be bound to many factors, such as the amount of money you want to borrow, the number of months in which you are going to repay for it, the financial situation of your company, and so on.
For this reason, we can only say that this bank offers competitive rates. However, we do have another way to help you out figure out if this company is convenient for your company. Be introduced to our loan comparator where you will be able to compare different loans offered by the most important financial providers of South Africa. In a few minutes, you will be able to see which loan suits your needs better and you can even start your loan application.
Does Bidvest Bank offer personal loans?
If you are an individual and not a company, you can open a bank account at Bidvest Bank. However, you will not have the option of taking out loans, at least not up to this moment. For this reason, we want to give you other options where you will be able to ask for personal loans.
Find the best loan of South Africa
In South Africa, there is a great variety of credit lending providers. In this opportunity, we will show you that you can either request a personal loan at a traditional bank such as African Bank, or with an online company like Direct Axis.
African Bank Personal Loans let you borrow a maximum sum of R250 000 that you can use for several motives. For instance, you can use it to buy new furniture, to pay for your child’s school, or to finally take that vacations you’ve been postponing for years. You will be able to choose a repayment period that ranges from 7 to 72 months.
Direct Axis Personal Loans, notwithstanding the fact it is not a traditional bank, it is a credit lending provider that abides by the norms established by the National Credit Act. To be eligible to request their personal loans you will need to have a clear credit history, to have a regular income of R5 000 or more, and to have a bank account under your name.
How to take out a Car Loan with Bidvest in South Africa
If you own a company and need to buy vehicles, you can access a business loan with Bidvest as we explained above. However, if you are an individual wishing to get a car to go to work or to travel around with your family, Bidvest will not be the way to go.
Luckily, South Africa is home to many financial companies that offer this service to individuals. WesBank is the leading provider of car loans in the country. To be eligible to request a car loan at WesBank you will need to meet the following criteria:
- Being of legal age (18 years or more)
- Being a citizen of SA or having permanent residence (if foreign)
- Having a driver’s license
- Earning more than R7 500 per month
These are the minimum qualifying criteria that you should meet. After you provide WesBank with all the documents to account for your eligibility, WesBank will study and corroborate your information to see if your loan can be approved.
What are Bidvest Contact Details?
Bidvest Bank has had a great expansion in South Africa and now has eighty branches nationwide. This is why it would be impossible for us to list all contact details from every branch. We’ve decided to focus on the head branch of Bidvest Bank that can be found in Johannesburg.
To contact this branch you can:
- Go to their offices located at Shop U56, Eastgate Shopping Centre, Bradford Road, Bedfordview, 2007.
- Call on 011 616 2077/80
With these lines, we tried to introduce business loans offered by Bidvest Bank. We told you that this bank specializes in financial products for companies; we talked about interest rates; we also showed you options for individuals looking for personal or car loans. We hope you found it interesting; and if you have any questions at all, go ahead and send us your questions.
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Questions and answers
Hi I wanted to find out if you can assist me if I get an official order that needs funding? If yes, what are the documents that are needed? Thanks Leon
When you get to Bidvest, you should present your particular case. This means, they will pay special attention to your company’s needs, credit worthiness and more. With that information in mind, Bidvest will set the installment term that will fit your business’s capacity of payment. Regarding documents to present, of course, you must prove your business is allowed to function and, the business’ worthiness.
How much is the interest the bank is charging?
To give the complete information, I’ll detail the terms options for the loan. The interest rate Bidvest is currently charging is 10 %. There’s no maximum quote stablished and the repayment term can go from 1 year to 6. The balloon payment is established according to the payment term you choose and, it ranges from 45 % to 15 %. Finally, you can decide to pay the instalment in arrears or advance.
Hello! My name is Graham Benjamin and I have a Grindrod easy pay master card. Can I make a loan to start my company?
If your company isn’t working yet, you may find it difficult to get help from Bidvest as, they assist running businesses. If you want to begin a new company, you can take a look at Nedbank and their Start up loan. They even have two other types of business loans, if you need to help the company grow after starting it.
I'm a zimbabwe national permanently employed looking for a loan.
I guess you refer to personal loans and, sadly, Bidvest can’t help you on that. You may look for another entity like, for example, Nedbank or Absa Bank. As long as you have your SA Documents issued by the government and, you receive enough income from your job to be eligible, you’ll get the money you need. Without problem.
I want a loan for 40000 rands. Is it possible with Finchoice?
Yes, Finchoice offers the possibility of getting that amount of money, as they’ve increased the maximum quote available for their customers. In the case of needing more than R 8000, the number of instalment to choose are 24, 12 or just 8. You will be capable of choosing in how many months you want to cancel the R 40000 loan and, if your affordability assessment states you can cover the cost, you’ll be ready to go.
I'm Nomvuselelo Selani. I want to apply for a consolidation loan at Bidvest bank. My cell phone is 0734167550
Hi! I must clarify, Bidvest does not have consolidation loans among the products they offer. You would find all sort of financial help as regards business loans. This lending company is well known for assisting companies when needing to expand thanks to their working capital loan. I can mention, either way, Absa Bank for you to take a look at as, they do grant personal loans to consolidate debts.
May I refill my loan? I have paid 4 months already
As you have a loan with Bidvest, you sure know they finance the company’s working capital. That is to say, they assist the company economically with the expenses they have on daily basis. But, they offer 5 different categories. So, it will depend on the reason you need more money for. If you need to cover a different category, they may accept your request. Still, you would have to contact Bidvest to have the final answer.
I'm working at Lanxess Chrome mine under Bidvest Protea Coin as a security guard. I want to know if it possible for me to get loan through Bidvest Bank
The fact that you work in a company related to Bidvest Protea Coin is not a guarantee to be approved for a loan. All the same, you have to remember this company only grants loans to companies. Bidvest helps them with the working capital any company needs to manage to have a profitable business. So, if you’re thinking about asking for a personal loan, I’m sorry to tell you, Bidvest Bank won’t be a solution for you.
Is there a chance to finance it in person?
Sure there are
How can I contact a representative?
You can communicate with them by phone
Are offices open on holidays?
No they are not
I’m a new employee at BidAir Services. Can I apply for a personal loan?
If you have just started working, you must wait some months before applying for a loan. This particularity is usually required with any company, not just Bidvest so, keep that in mind. All the same, Bidvest works with business loans, which means they can’t provide you with a personal loan. In your case, you can consider Finchoice but, as I said before, after you’ve worked there for 6 months more or less.