Compare the best loans of South Africa and find the lowest rate
Are you looking for a good way to finance your business? Did you know there exists a company with a wide variety of Business Loans? That is right, Bidvest Bank, one of the leader banking companies in South Africa, has created more than one business loan just for you.
In the article you are about to read, I will first give you the information regarding the five different Business Loans you will find at Bidvest. After that, I will stress the importance of choosing this company as your credit provider and I will give you precise data about a crucial account you should consider while operating with this company, their Call Account. Finally, you will be given all the contact details of the company.
You will see that Bidvest Bank has designed a wide range of choices in terms of Business Loans:
1)Asset-Based Finance: through this loan, the company gives you the chance of financing a car that belongs to your work or company, if you pay installments each month. Moreover, you get to lease your vehicle if you perform the actions mentioned below:
-Paying less monthly rentals of your vehicle as you will only pay for the portion you make use of
-Not to waste time by administering your vehicle
-As your car is not for sale, you will never lose the value of it
-Cash flow can be easily increased
-Taxes will diminish as the rentals will be the charges you will pay each month
-The contract is quite flexible, which means it can be subject to changes or future modifications
-You get to finance more assets with the money given
-You will be covered at any circumstance in which you are making use of your car
2)Rental finance: even though this loan has many similarities with the previous one, by applying for it, you will not receive any insurance to cover repairs or maintenance charges related to your car. There will be less cash outflow and also less risks the client will take.
Lets see some of its charactetistics:
-You are able to pay off all the expenses caused by your car, but of course the ones such as your fuel charges are not covered
-Interest rates are fixed and pretty low
-You will only be made to pay for the portion of the depreciation of the car you used and not more than that
-When it comes to the Vat, you will be made to pay only for the portion taken, not for the totality of it
-A residual value is adjusted by Bidvest Bank, in order to make you pay less for the rental
-You can choose to own the vehicle if you are willing to settle your capital, but that is just an option
3) Installment Sale Finance: this is an affordable loan through which clients can purchase new cars or other vehicles for a period of 12 months. So, with the money customers get to finance all the car charges and they can also make use of wear and tear, which is now of 20% and lasts for a year. There is a depreciation percentage of about 5%.
4) Commercial Property Finance: this is an easy way to purchase a new commercial property, restore the one you possess or also make use of a property you have but this time for retailing. Many uses for the same funds.
5) Medical Equipment Finance: as you can expect, this loan is granted to medical professionals that are aiming at purchasing equipment and appliances for their hospitals.
Choosing Bidvest Bank
One of the reasons I strongly recommend operating with this company has to do with their personal service, which in fact is better than the one provided by most financial companies. Their members will always take care of customers and focus on their needs as business owners. Moreover, the different rates given by the company tend to be competitive and you will be granted an account manager to mind your loan and check your balance with certain frequency.
Besides, you will be given a detailed explanation of the whole lending procedure and you will be given a solution that will fit your needs and your pocket.
Now, before finishing the article, I will like to give you information about a useful account for businesses: Call Account
With this account, you need to have a balance of at least R 100 000, you are given rates that are quite low, and you make as many deposits as you want. You have freedom to keep all your money with no limit as regards periods of time and you are able to make withdrawals from anywhere. Moreover, there will not be a maximum when it comes to the balance you are allowed in deposits you make to another client.
Focusing in detail on the rates of this account, it can be said that from the moment you are given the account you will notified about the rates and that the only rates that can change with the passing of time are nominal ones.
CONTACT BIDVEST BANK:
Bidvest has developed its customer centre, which is why you can make a call to the following number:0860 11 11 77. Along with this phone line, there is a Reuters Code you need to press: BIDJ, and a Swift Code given, BIDBZAJJ.
There exists an international call service you can phone:27 11 407 3103. So, if you are travelling abroad, you can take advantage of this wonderful service.
You can also send an email to the email address I will mention now: firstname.lastname@example.org. Such address is used for asking for more information about any of the services offered by Bidvest Bank.
You can go in person to the head office of Bidvest, in Bloemfontein. The exact location is 103 Henry Street, and you can find at shop 7A.
Another branch can be found in Cape Town, specifically at the Foreshore. The exact address is Martin Hammerschlag Street, 33. If you go to the 6th floor you will find it.