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GBS Loans: What Are The Loans Offered by GBS? What Documentation Do I Need to Present to Be Eligible to Apply For Its Services?



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            If you are in search of a financial institution that encourages you to increase your investments, allows you to earn capital and also provides affordable and competitive lending products as well, you should take some minutes to learn what GBS Mutual Bank has to offer to you. This bank is one of the oldest institutions operating in South Africa and it is well-known due to its company values which are based on integrity, transparency, and honesty. Generally, clients have decided to do business with this bank, because they have heard favorable comments about it in relation to BGS’ understanding of your current financial situation and personal needs. BGS main office is located in Grahamstown, let’s see the GBS Mutual Bank contact information of this office in detail:

GBS Headquarters                                18-20 Hill Street, 6139, Grahamstown, South Africa

Email Address                                         enquiries@gbsbank.co.za

Lending products offered                 Mortgages, both residential and commercial                                                                         Investment and Bridging loans                                                                                                                                                                Asset-based finance

Phone number                                         +27 (0) 46 622 7109

            As you may have noticed in the previous chart, there are various lending products available for you in the case you are considering borrowing money. Let’s explore these options in full so that you have an idea of some of their relevant characteristics and main features.

-Residential Mortgages: This loan is mainly for helping you buy a new house, for making home improvements or allowing you to build a whole property from scratch. The advantages of this mortgage are 1) you can have to 20 years to repay your loan, 2) interest rates related to prime are variable 3) you can obtain a loan amount that can be up to the 80% of the actual price of your purchase. If you want to apply you must have a proof of income that has to be issued monthly and you have to make a deposit of at least the 20%.

- Commercial Mortgages: This loan is designed for qualified clients who are part of the business world and who need funds to expand their business or who are looking forward to leveling it up. Among the benefits of this loan, you can find repayment terms that can last up to 10 years, the amount of money you are given can be up to 70% of the total price amount. If you are willing to apply you will need to make a deposit of at least the 30%.  

- Asset Based Finance: If you are interested in this kind of financing, you have to get in touch with an advisor from GBS Mutual Bank to get more information about it.

- Bridging loans: This loan is available for qualified clients who already have an account within the bank at present and have been doing business with it for a long time.

- Investment loans: So as to be able to obtain this loan, you have to have invested money with GBS. In order to grant you this loan, GBS uses your investments as security. The good side of applying for an investment loan is that the funds you receive can be the %90 of your investment, the terms set for it are for a period of ten years and the rates for the loan can be established according to the certificate rate or the prime lending rate. You have to add the %3 or the %1 to those rates, respectively. The conditions for this loans are determined by your profile. Besides, apart from the conditions mentioned for each commercial product, you should know that eligibility is determined on your credit history and your ability to repay, that is to say, affordability.

GBS Loans Application Process

            If you made up your mind and decided that any of the lending services provided by GBS suits your needs, the first step is to apply for it. The application is carried out in any of the branch offices. There, you will find a consultant who will help you and provide you with all the information you may need the moment you ask for the loan.

GBS contact details: other stores located across South Africa

            Apart from the main office located in Grahamstown, there are three more locations located in the south of the African continent. Let’s explore this information hereafter:

- You will find a branch office at 77 Pickering St, in Newton Park, Port Elizabeth, 6045. The telephone number is +27 41 365 4062. Feel free to contact GBS whenever you want and for further details.

- Another store is 14 Main St, Port Alfred, 6170. If you want to talk with a consultant over the phone then call at +27 46 624 1390.

- On the south west of South Africa, there is an office located at Cape Town City Centre, Cdad. del Cabo, 8000. Once more, if you want to discuss any proposal with an experienced advisor just deal up this number +27 83 684 8668.

GBS online services

            If you are interested in getting an approximation of the amount of money you will need to repay for the loan, within GBS’ site, there is a loan calculator which will allow you to calculate that information. You only have to provide the loan amount, an interest rate and the duration of your loan. Apart from this, you also have other loan calculators at your disposal, such as the investment calculator.

            What is more, there is a section in the site of this mutual bank where you can send them an email, more specifically an inquiry form. After completing such form, a consultant with contact you soon. In addition, you can also request a call on the part of the bank right there.

            The information presented herein aims to help you be more informed about the different loan options that are available and are being offered by some financial institutions, such as GBS Mutual Bank. If you are thinking of asking for a loan and using the funds to invest in your future, maybe GBS can help you achieve that. Contact them soon and be ready to enjoy its benefits.



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Rating: 3
Comment: Great company values and efficient personalized services.
Rating: 3
Comment: The application is made in-store.
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Comment: There are temporary but special offers and promotions.

Questions and Answers

Can I apply online or over the phone?
No, that is not possible. You are required to visit any of the bank's branches to start the application process.
What about interest rates?
For mortgage loans, rates vary from 10.00% to 11.00% and for other loans between 16.75% and 12.50%. You can download a pfd document which explores these details in depth.
Can I download any forms from the bank's site?
If you are looking for borrowing money that is not possible, but if you want to invest money, you can download some forms from GBS website.