Compare the best loans of South Africa and find the lowest rate
Are you a resident of Durban? Are you looking for easy money to finance all your needs? I can help you with that. That is right, I happen to have the solution to your financial problems, Bidvest Bank. This company, apart from being present in many cities of South Africa, can be found in Durban.
For such reason, I will start the article by focusing on the two loans Bidvest offers to the citizens of Durban: Business and Vehicle Loans. After that, I will give you contact information you need to know, so as to communicate with the company´s representatives and start deciding which loan will suit you best.
BIDVEST BUSINESS LOANS:
There are five Business Loans offered to Durban residents:
1)Asset-based finance: this is an affordable way to finance a vehicle you are attracted to. It can be financed on a monthly basis and you get the chance of leasing the car as well. Pay attention to some of its advantages:
-Clients will pay less rentals on a monthly basis because the company only charges for the use they give to their cars
-Clients will administer their vehicles which translates as more time for other purposes
-Clients can expect the price or value of their car to stay the same
-Clients can observe as their cash flow improves
-Clients will be required to pay less taxes than the ones they are used to
-The rental values will be the operational expenses
-Clients can expect to sign a contract that is subject to modifications if that is necessary
-Clients can always finance new assets they wish to acquire
-Clients will be protected with a unique insurance
2)Rental Finance: you can enjoy the benefits already mentioned with this loan, but you will need to pay for the expenses you generate with your vehicle, such as repairs and maintenance costs. Moreover, you can also expect the risks and the cash outflow to lower in the long run. The main characteristics of Rental Finance are:
-Affording all the expenses of your vehicle, but not the ones for the fuel of it
-Paying interest rates that remain fixed throughout the whole loan
-Financing a portion of the depreciation you always use
-Paying for a residual value which is set by Bidvest and allows for a diminishment in the rental fees
-Being the owner of the vehicle if you choose to settle the capital you own, but that is just an option the company gives to clients.
3)Installment Sale Finance: this is another loan that allows citizens to buy a car or other means of transport in just a year, a short period of time. Such citizens will be asked to pay all the expenses and bills and also using the tear and wear product, which consists of 20%. Finally, there will be a depreciation of 5%.
4) Commercial Property Finance: this loan is an ideal way to finance a property the customer wishes to possess or restoring another property of the company, which has a commercial usage. So, if the company has established a new company for trading or any other commercial purpose, Bidvest Bank can easily help them with an accessible and convenient loan such as this one.
5) Medical Equipment Finance: this loan can be just what medical professionals are looking for, since they always need to buy more appliances and equipment for hospitals and medical services.
BIDVEST VEHICLE LOANS
If you are wondering about loans for financing vehicles, let me tell you, Bidvest apart from having designed three different loans, offers unique advantages:
-Customers can choose to pay fewer taxes
-Customers can receiving guidance and assistance if they are on the road
-Customers will automatically be protected with an insurance from the insurer they prefer
-Customers can choose to finance assets that are really expensive with this money
Which are those three Vehicle Loans? Pay attention:
1-Instalment Sale Agreement: if you want long financing periods, of lets say 3 or 5 years, you can choose this agreement, which enables you to buy the car you want in a comfortable way. But first, you are required to possess the car allowance. With such documentation, you can not only become the owner of the vehicle once the loan ends, but also finance the loan with modest balloon payments, which are really affordable and allows you to save money.
2-Finance Lease Agreement: with this agreement, you can choose periods of 60 months, which is the maximum allowed to complete the financing of the loan. It is also required that you possess the car allowance so as to have access to balloon payments instead of the usual ones. So, please be sure to have received such allowance, as it will define many of the benefits you will enjoy later with the company.
3-Operating Rental: this is one option if you are interested in leasing a car in a maximum of 60 months. However, that period of time can change depending on how far you have travelled with your vehicle during the month. This agreement enables clients to reduce the risks they take on a daily basis and also increase their cash flow.
CONTACT BIDVEST BANK IN DURBAN:
There are plenty of ways to get in touch with the company, either by phone, at a physical branch or by email:
Bidvest has its own customer service line, which is a free phone number you get to dial up from the comfort of your home:0860 11 11 77. Remember to wait a couple of minutes until the representatives of the company transfer you to the area you desire to speak, please be patient and hold on.
If you are calling from another part of the world, you are requested to dial up another phone number:27 11 407 3103
Sending an email to the company is another reliable way of contacting them in the short term. Pay attention to the following email address:firstname.lastname@example.org
Contacting the bank in person is another option. So, you can go to their office in Durban, inside the Mutual Mall. The exact address is 55 Dorothy Nyembe Street, located in shop 60.