Compare the best loans of South Africa and find the lowest rate
Are you currently living in Cape Town? Are you in search of financial support? Good job! First National Bank has what you have been looking for. This company was funded more than a hundred years ago so as to provide South African’s citizens with money help to meet their needs. It already has thousand of clients but it is in constant development.
Fortunately, FNB has never stopped expanding its horizons and it has branches in many areas of the country. One of them is Cape Town. And in this post, you will get data about which are the lending programs that Cape Town’s residents can apply for. We will mention them with their financing and details, and we will also give you data about how to get the money.
LOANS AND RATES
There follows a list of lending programs with their respective features, rates and some possible quotes:
1. Student loans
If education is a priority in life, everything will be easier with First National Bank. Making your dream of becoming a professional is now possible with the exclusive student loans. The company offers a credit from a minimum of R4 000 to a maximum of R80 000 so as to finance tuition, materials and even accommodation. In order to be eligible, you have to be older than 18, that is to say that parents can apply for their children’s’ loans. In order to start application, you need your ID as proof of age and your latest slips to prove income.
2. Vehicle loans
Another important objective is life in the acquisition of cars. In order to make this possible, First National Bank offers lending programs to finance the purchase of new or second hand vehicles, such as cars, trucks, motorbikes and even leisure vehicles, such as boats or caravans. It is up to the client to decide to buy from a private seller or a dealer. As far as financing in concerned, interest rates range from a minimum of 7% to a maximum of 20%. Such interest and principals can be repaid in up to 240 months.
Let’s see how rates and financing work in real life with a loan applied to buy a car of
R45000. It is essential to make a deposit. Imagine you have cash money to make a deposit of R15000. The rest, R30000, can be financed in four years. In this case, you can apply for an interest rate as low as 10% and a balloon payment of 10%, R3000. As a result, you will make 48 payments of near R428. There are some fees that may apply or around R1200.
3. Home loans
First National Bank has also the most convenient programs to make home ownership possible. The bank grants loans that facilitates the building or the purchase of your home. Let’s take a look at some details:
*If you want to build your home, you can borrow money and start the process. The building has to start within three months once the loan is approved and it has to finish a year after. When it comes to financing, the term can be as long as 20 years and you are required to pay make a deposit of 10%.
*If you want to buy a home, there are also a wide variety of mortgages available. FNB offers from R100000 to finance home purchase. There are programs with fixed and variable interest rates of approximately 10%. Financing periods can range from 1 to 5 years. Let’s take a look at an example to finance a loan of R750000. If you are eligible for an interest rate of 10% and a financing period of 20 years, payments will be of R7487. There are some minimum monthly fees of R68 that may apply.
4. Personal loans
You can also borrow money to buy new furniture for your home, to pay for deserved vacation and other objectives. In order to have access to this money, clients have the possibility of borrowing from R1000 to a R150000. Money can be returned with fixed interest rates in up to 5 years of financing.
CONTACT INFORMATION AND REQUIREMENTS
In Cape Town, there are at least two branches to visit the bank and get its lending programs:
-One is located in 34, Victoria Wharf, 2 Dock Rd, V & A Waterfront, Cape Town. Agents are available Monday through Friday from 9a.m. to 3a.m. and on Saturday from 8.30a.m. to 11a.m. You can talk to them in person or by phone calling 21 425 8870.
-Another one can be found in the Blue Route Mall. The exact location is 16 Tokai Rd, Tokai, Cape Town. Its office hours are Monday through Friday from 9a.m. to 5p.m. and weekends from 9a.m. to 1p.m. the representatives are also available either in person or by phone dialing up 21 425 8870.
Fortunately, there are other ways to obtain loans from First National Bank in addition to go to real offices. In fact, from the comfort of your home, you can also get money. You can visit the webpage of First National Bank and apply for loans online with a click. Besides, you can send e-mails to representatives to these addresses email@example.com or firstname.lastname@example.org with questions and comments. And finally, you can also apply for loans by phone. The exclusive line for this service is 0861 40 40 40 and it is available Monday through Friday from 8 a.m. to 5 p.m. In case you are just in search for further info, please contact this number: 087 730 11 44.
In conclusion, Cape Town residents have currently the opportunity to buy whatever they want. They can apply for loans that are destined to finance home, cars, college and even vacations. First National Bank will help you to achieve whatever you want. Don’t hesitate to contact it and get the most convenient help!