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Is it Possible to Obtain Loans from Grindrod Bank? Get your Quote

Grindrod Bank is a company that specializes in providing financial services to companies and entrepreneurs. If you own a company and are looking for accessing a loan to grow your business or take it to the next level, Grindrod Bank might be your key to success. Here we will tell you how to obtain their loans and explain to you the different types of loans you can find. We will also talk about an issue with SASSA grants beneficiaries.  

How do Personal Loans work at Grindrod Bank?

Personal loans can help us a lot in fulfilling our dreams and objectives in life. Most of us work hard every day, but still can’t afford the things we need without some sort of help. That’s the reason these loans were created, to help people buy or procure the things they need in installments.

Grindrod Bank focuses on borrowing money to companies; they do not offer personal loans. Now, that we’ve ruled out this option we can move on to other alternatives. In South Africa there many credit lending companies that work with individual clients looking for personal loans.

For example, with African Bank you can borrow up to R250 000. Imagine all you can do with this number. No restrictions are imposed on how you can use the money you’re lent: you can use it to buy a car, to pay for a vacation with your family, to get a new TV set; it’s completely your call. This bank offers a repayment period of a maximum of 72 months and fixed interest rates.

Does Sassa offer Loans Similar to the ones Offered by Grindrod Bank?

In Grindrod Bank you can find a great variety of corporate lending facilities. One of them is Client Finance Lending targeted to Grindrod Bank clients and offers loans with a short to medium term. These are secured loans, that is, you need to provide a guarantee to take them out.

Also, with this bank your company can finance the purchase of a property. With their traditional mortgage finance, you can access to 70% of the value of the property. Of course, the property you buy with this loan must be for the purpose of furthering your business; you cannot buy a private house, for instance.

Another financial solution provided by Grindrod Bank is Debtor Finance. This facility is a short-term loan aimed at helping your company improves cash flow. Imagine your company makes an important sale to a client, but the payment will be done in, say, a month. With this loan, you avoid being short of money and keep your company moving on.

SASSA stands for South African Social Security Agency. This government organization is in charge of the provision of grants to the poorest sectors of the country. Thus, no loans are offered through this agency.

How to Make a Sassa Loan on your Phone in South Africa?

As we explained above, SASSA does not provide loans. Their work has to do with mitigating the impacts of poverty in South Africa by awarding grants to the less privileged people of the country.

SASSA grant payments are performed through a debit card called SASSA Card. With this card, beneficiaries of SASSA grants can make transactions at stores.

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However, no loans are granted. If what you need is an easy to get loan with few requirements we can recommend two options:

  1. Wonga is an online company that offers loans that range from R500 to R4 000. This loan must be repaid in a period of a maximum of 6 months. All you need to provide Wonga with is your cellphone number, your ID, specifics of your bank account, latest payslip.  
  2. Cobol is also an online company where you can borrow up to R5 000. To be able to ask for this loan you must be permanently employed.

How can I get Easy Pay SASSA Loans Online?

Our aim is to investigate all facts to give you the most objective information that will help you make smart decisions. There has been some controversy over the advertisement of loans granted to SASSA beneficiaries through a company called Easy Pay. This company belongs to Net 1, which was the former financial company that SASSA made an agreement with to provide grant payments to beneficiaries.

However, this agreement has been terminated by SASSA, and now the company in charge of allowing SASSA beneficiaries to make an online transaction is Postbank. With Postbank people receiving grants from SASSA get a bank account and a debit card. No loans are offered.

Our recommendation is that you stay away from advertisements saying you can get a loan against your SASSA grant. There are other ways of obtaining finance. If you are a SASSA beneficiary and you have no means to prove income allowing to ask for a personal loan, you can consider a pawn loan.

There are many pawn shops in South Africa. All you should do is find the one nearest to your location and making sure the company is registered with the NCR in order to have a guarantee of its trustworthiness. Once you’ve found one, you need to contact them and tell them the asset you wish to pawn and the amount of money you’d need to borrow.

What is Grindrod Bank Contact Number for their Corporate Loans?

You will not be able to apply for Grindrod loans online. You will have to either go to one of their offices or call them. You can call them at their head office on +27 (0)31 333 6600.

This article came to an end. We’ve discussed the loans offered by Grindrod Bank to companies in need of finance to either manage their cash flow or buy a property. We’ve learned that Grindrod does not offer personal loans, and we’ve given other options of companies that do provide this facility. Also, we’ve found out that there are no specific loans granted to SASSA beneficiaries, and we’ve proposed some alternatives. We talked about online loan providers and pawn stores. 

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Questions and answers

As it is lockdown can I apply online and please send an app on how to apply for a loan?

Bear in mind that the loans offered by Grindrod Bank are for established businesses. There is no way for you to start your application online at this bank. However, you can contact them over the phone or visit one of their branches since it reopened to the public after the entering to face 3 of the lockdown.

Can a personal trainer apply for a loan?

If you are a Grindrod bank client, you can apply for corporate lending. You can gain access to loans of short and medium terms. The bank offers different sort of financial solutions to its clients. You can also apply for property finance, which works as a home loan for you to finance your home.

Is the bank open on Sundays?

No, it is not

Can I send an email to the company?

You can send a message via their webpage

Can I buy a new property with their loans?

Yes you can

Is it possible that i can apply loan on line?

You can always apply for an online loan by first entering the company´s official website, going to the section destined or named application and clicking on begin application. There, you will fill in a form with your data and will need to submit your documentation

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