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Is Durban Eligible for Grindrod Bank Loans? Contact Details

    Are now living in Durban? Do you need to resort to a loan in order to satisfy your personal and professional needs? If that happens to be your case, let me tell you this is the ideal place to get a proper solution. You can of course resort to the different loans Grindrod has carefully developed for clients like you, residing in Durban.

    In this article, I will focus on the three different loans granted by this bank and then on the different deposits available to you as a customer. Finally, I will focus on the contact information of this company in Durban.

GRINDROD LOANS FOR DURBAN CITIZENS

     You will notice in this article, that the company has designed three loans:

    One of those loans has been labelled PROPERTY FINANCE, and its main aim is to give full support to those customers that are trying to buy a property on their own, which they will use for trading purposes. The company will also give them access to mortgages that are of about 70% of the total price of the property.

    The next loan has been labelled MEZZAINE FINANCE, because its main aim is to add an equity funding to the traditional mortgage clients have access to. The result is obtaining the best options in terms of real estate houses. Moreover, you can make as many operations with the bank as you want. You have total freedom to make deposits and transfers. You will also observe an increase in the capital you are having when beginning with the loan and after you have made investments with it.

    Finally, there is a loan labelled DEBTOR FINANCE, which gives customers extra support whenever they want to observe more cash flow. The main benefit of this kind of finance, is that you are offered really short financing terms, which in the long term will be better than choosing long ones, as you never finish paying them on time. So, you will be given a maximum of 4 months, a period in which you will need to finance the whole loan and then you forget about the lending program. Easy as that.

 Now, let me focus on some benefits you have access to with this company, if you live in Durban:

-You will totally benefit by noticing an increase in your cash flow, because Grindrod will be in charge of your debtors´ book

-You will benefit by establishing fair negotiations with other clients and businesses

-You will observe huge surplus cash, which will help you in future negotiations

-You will also experience how the capital you possess increases

REQUIREMENTS YOU NEED TO TAKE INTO CONSIDERATION

-You must be sure that your business is well positioned in the market

-You must make sure that your debtors´ book exceeds R 10 million, a crucial requirement

-You must make sure that you comply with a financing term of 3 months, which is the maximum taken by the company

-You must make sure that your business has an effective way of managing its finances and its assets

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-Stakeholders of your company will be the ones in charge of submitting collaterals of loans

 

Needless to say, if your business in the field of manufacturing or wholesale, it will be hugely benefited by the company because it will experience how its capital is unlocked by Grindrod.

DEPOSITS EXISTING AT GRINDROD BANK

CASH DEPOSITS

    Cash Deposits are the way the bank enables you to make investments either in the short term or in the long term. The company is totally in charge of negotiating with other companies, which turns out to be an effective way of making you pay less interest rates. Furthermore, you will not need to pay extra charges for banking operations.

PRIME LINKED NOTICE DEPOSITS

     Prime Linked Notice Deposits have the characteristic of making the company´s clients experience how easy it is to make withdrawals without paying for extra charges once they are made. But, these clients must make sure to have notified about such procedure to the company in the short term.

     In the company´s official website you will be able to find lots of data about the rates that make up each deposit, which are constantly being modified by the company, which is why you need to check them first.

CALL DEPOSITS

     Call Deposits enable clients to not only make deposits in short periods of time but also get access to an account named Call Account. The interest rates are low and the client can make use of the funds given in an instant manner, so there is no need to wait for a couple of days to start enjoying the money  it has been deposited to your account or you deposited into someone´s else’s.

     If you are attracted to this kind of deposit, the company will ask you to at least deposit R 50 000, and also make a notification to their members. The overdraft will be of about 10% and the company enables you to invest this minimum: R 100 000. But, you can also invest higher amounts, such as R 5 million.

FIXED DEPOSITS

   Fixed Deposits enable clients to only deposit funds for a fixed period of months, whose interest rates is completely determined by the bank and will be fixed, not subject to changes. But, if you would like to make use of such deposit, you will need to deposit a minimum of R 50 000, so please bear that fact in mind.

Contact details of Grindrod for Durban citizens

If you are living in Durban you need to know there are plenty of ways to contact the company in your area:

-You can contact the bank from home if you enter its website, where you can send messages, ask for quotes and obtain more data about different ways of finance.

-You can go in person to their office in Durban in Stamford Hill, which is in the Kingsmead Office Park. The exact location is 5 Arundel Close.

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Questions and answers

Do I have to wait a lot for message answer?

A couple of hours

Does the company have an online app?

Yes, it can be downloaded in its website

Can I contact the bank to get a loan backed up by the government?

Yes you can

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