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Trading with financial cooperatives can be a great way to find lower interest rates and warmest client care. In South Africa one of the leading cooperatives is Iemas. Here you will become informed of the services you can make use of, such as housing loans, and other credit lending services.

Can I request a Loan at Iemas through an Online Application?

Since Iemas is a financial cooperative, they view clients like family. Their whole concept is customer-centered rather than profit-centered. For this reason, they want to talk to you and help you with your loan request process every step of the way. You can call them or visit one of their branches and discuss your needs with a member of their stuff and, for instance, if you decide to take out a home loan with them, you will be asked to fill in an application form. Iemas has over twenty branches in South Africa, find the one closest to your location and pay them a visit or make them a call.

What are the Requirements for Loans with Iemas?

We told you that Iemas is a cooperative, but what does this mean to you? It means that when you participate in one of their products, you become a member of this cooperative and get annual rewards!

Even though Iemas is not a financial company such as banks, it does have some qualifications requirements for its products. They offer a wide range of financial services: personal loans, home loans, vehicle loans, among others. The requirements may vary from product to product. In general terms, just like any other credit provider, to take out any loan you need to be a resident of South Africa, of legal age, and providing information about your income.

How can I use Iemas Loans Calculator?

It is important that you don’t rush into making a decision about a loan without giving it considerable thought. You’re about to enter into a commercial agreement with a company and failing to comply with this agreement may have serious consequences. Sometimes we’re so desperate in need of cash that we don’t stop and think: will I be able to pay back this loan in the term I’ve agreed to do it? A great tool to see what amount of money you would need each month to pay for your loan are loan calculators. These calculators can be used to estimate personal loans and home loans as well.

However, Iemas does not provide this instrument. There are many credit providers who, like Iemas, don’t develop loan calculators. For this reason, in our site, you will find an excellent tool to compare loans in South Africa, while you find out what are the approximate fees charged by the different loan products. Our comparator is free and we don’t request any information about your income, or any other personal information. Also, if you are interested in a loan that appears in your search, you can start your request process by clicking “quote now”.

Can I Find Secured Personal Loans in Iemas?

Most personal loans are unsecured in nature; so, no asset is asked as collateral for your loan. However, there are some companies that offer loans against valuable items, such as your car, equipment or even jewelry. This is not the case of Iemas: they only offer unsecured personal loans. If you want to consider secured personal loans, you might want to check out Cash Crusaders: a company that offers these loans of up to R15 000.

How does Iemas Emergency Loans Work?

We like to think that we have everything under control in our lives. However, that is not true all the time, is it? That is the problem with the unexpected, things happen even if we expect them or not. They don’t ask for our permission.

If you are in the midst of some kind of crisis and need cash right away, you can count on the emergency loans offered by Iemas. They let you borrow a maximum of R6 000 and no questions asked as to why you need the money. Having an emergency can be extremely stressful, imagine how stressful it is if you don’t have the money to “put down the fire”. Iemas got your back, though.

What is the Difference between Iemas Loans and Maxi Loans?

Maxi Credit Solutions is a credit provider of South Africa that partnered with the South African Army Foundation to provide financial solutions to members of the Army. On the other hand, Iemas is a cooperative that provides similar services to employees of different companies with which they have agreements signed. Both organizations offer payday loans.

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If you are an employee of the Army and need for a quick loan, you can consider Maxi Loans. You can borrow from 500 rands to 2 5000 rands which you should pay back on your payday. 

3 other Financial Services like Educational Loans that you can Find at Iemas

Iemas offers a great variety of financial services to its members. We already talked about their personal loans and emergency loans. There are other three important products offered by this cooperative that we’d like you to know.

The first product we want to discuss is Iemas Educational Loan. The reason we absolutely want you to know this loan is due to how extremely versatile it is. You can request this loan to pay for your child’s studies from pre-school to undergraduate programs in Universities of South Africa. Most student loans only cover for university or tertiary studies; Iemas loan is there to help you from the very start.

The second loan you need to know about is Iemas Consolidation Loan. This loan works just like any other consolidation loan in the market. You ask for a loan to pay for all the loans that you might have so that you are left with only one loan, which is more manageable to pay for.

Finally, with Iemas you can also request a loan to buy a car. This company helps you navigate the process of finding a car you like and buying it. Moreover, they offer car insurance as well.

Can I find Home Improvement Loans with Iemas?

How many times have you said “oh, I want to add an extra room” or “I want to rebuild my kitchen”? You’ve probably said this to yourself a thousand times, but you weren’t able to find the money for it. Don't postpone your dreams of having the house you always wanted; it's your house after all. You can finance any improvement you want to make in your house by asking for a loan at Iemas.

Iemas offers a pension-backed home loan: a loan that is guaranteed by the funds you were able to save throughout your working years in your pension fund. In order to access to this loan, there must be an agreement between Iemas, your employer and your pension fund.

If you want to buy a house, you should know that this cooperative does not issue housing loans on its own; Iemas clients are offered a consultant service that works with banks to find you the best home loan. Iemas has partnered with the bond originator MortgageMax to help you in the process of applying for a home bond in an easy and convenient manner. Iemas will assist you every step of the way in the home loan process with some of the most renowned banks of South Africa (Standard Bank, Absa, Investec, Nedbank, among others). 

Does Iemas have Positive Reviews for their Loans?

Iemas is a cooperative offering financial services and is duly registered with the NCR. This means that if you ask for their services you will know that you are transacting with a responsible and trustful company. 

We were able to find reviews by Iemas employees who state that they have a wonderful working environment. This can be reflected in some comments made by customers who thank Iemas for its customer service. However, there are some opinions from clients that complain about the fact that sometimes Iemas take too long to respond to messages.

What is Iemas Loans Contact Number?

If you’d like to talk to an Iemas representative you can contact them on 0861 043 627. Also, if you are in Klerksdorp and you wish to ask a few questions over the phone you can call at 18 462 0131. The phone number for Boksburg office is 011 776-4000. We would like to remind you that you can leave us your comments or questions; we'll be happy to help you out. 

If your employer has an agreement with Iemas, you can benefit from their many financial services and rewards for being a member of this cooperative. We've talked about the rewards and benefits you can get by participating in Iemas as a member. In this article, it was also discussed information regarding the services provided by Iemas, such as personal loans, consolidation loans, and housing loans. Also, we talked about how to ask for them and how to contact Iemas. 

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Questions and answers

Can I get a loan against my Pension Fund?

With the financial company, Iemas, you can obtain a pension-backed home loan which can be used to renovate and improve your home, for example. A pension backed loan means that the company can lend you money which is guaranteed by the funds you could save throughout your working years. The interest rates offered are very competitive. 

Hi, if I paid my loan with Iemas and would like to take a home loan for R600,000 whilst my salary is R4,185 per month as a disability payment to me from my disability benefit. I also have a provident fund with the company that's affiliated with Iemas. Do I still have the capacity to apply for a home loan from Iemas.

It is important to know that if you want to buy a house, Iemas does not offer a home loan per se, but you can obtain a pension-backed home loan supported by the funds you could save along your working years in your pension fund. If your salary is 4,185 rand, and you need 600,000 rand, you can access this money based on an assessment and an agreement between your employer, the cooperative and your pension fund. 

Hi, if the house is 370,000 rand, how much can I pay per month? And for how many months?

First, it is important to know that Iemas does not offer a house loan per se, however, applicants can have a consultant service linked with banks which can help them find the most convenient home loans. This will help you obtain the money you need to purchase a house of 370,000 rand, and organise the repayment period. 

If you want loan of 100,000 rand for a period of 6 years, how much you have to pay if you are a weak earner?

If you wish to take a personal loan of 100,000 rand for a period of 6 years with IEMAS, you need to consider an interest rate of 21% approximately. So, for example, during 72 months, you will be paying monthly fees of around 21,000 rand. Remember that the company will carry out a credit check before granting the money. 

If requesting a R60,000 personal loan in 2 years, what will be my monthly payment? I am working for PG Bison Board Plant.

If you wish to request a personal loan of about 60,000 rand with the financial company Iemas, you need to consider an interest rate of around 21%. As a client, you can choose a repayment period of 2 years. Therefore, you will have to pay monthly instalments of 12,731.23 rand. 

Can you apply for a consolidation loan while having a maxi loan?

If you are an outstanding client with Iemas Financial Services and you need a consolidation loan while having a maxi loan, usually the company will analyse your economic situation to determine if you can borrow the money. The purpose of this consolidation loan is to provide monetary aid, so you pull all the amount due together into one payment. 

What will be the monthly instalment on a loan of R150 000 paid off over 5 years?

If you wish to apply for a personal loan of about 150,000 rand with the financial company Iemas to be paid in a period of 5 years, you need to consider that the interest rate can be about 21%. So, you will be paying instalments of  around 31,500.34 rand every month. 

Hi, if I had paid my loan with Iemas and would like to take a home loan for R600.000 whilst my salary is R4185 per month as disability payment to me every month from my disability benefit and also having a provident fund with the company that's affiliated with Iemas, do I still have the capacity to apply for a home loan from Iemas?

First of all, in order to be eligible for a home loan for 600.000 rand with Iemas, you need to have enough affordability capacity to pay for the monthly instalments. The company will  perform an analysis of your economic situation and credit history, and in this way, will determine if you qualify for a loan with a salary of 4.185 rand.

I want to borrow 150000. How much will I pay monthly?

If you request a loan of about 150.000 rand with Iemas company and you wish to know how much you will pay per month, it is important that you first determine the period of repayment. For instance, for a period of 60 months with an interest rate of 21%, you will be paying 31.500 rand approximately. 

Do you offer loans to low credit score employees? I need a loan to complete rental rooms to be settled in 12 months

Unfortunately, this may not be possible. If you wish to apply for a loan with Iemas Financial Services, it is fundamental that you have a favourable credit record. You need to show proof of income and have sufficient affordability capacity to pay a loan. The company will request some documentation to determine whether you are a reliable client. 

Hi, can I qualify for another loan at iemas if I have one?

Usually, the recommendation is that, in order for clients to apply for a second loan with Iemas, you need to completely pay your current loan. In this way, the company will make sure you have enough monetary capacity to afford monthly instalments. Once your debt has been stricken off, you wil be able to apply for a second credit plan. 

I would like to borrow 300000 for a period of 60 months how much will I have to pay in installments?

The maximum amount of money you can ask at IEMAS is R200,000. So, you will not be able to ask for R300,000 as you wish. For example, if you request this loan and decide to repay it in a period of 60 months, and the interest rate was set at 21%, you would pay $6,200.

How do I know if my employer has an agreement with Iemas?

If you want to know if the company you work for has signed an agreement with Iemas allowing you to enjoy their many products, you should contact your human resources manager. An alternative can be contacting Iemas directly. You can call them on their 0861 043 627 or find out the number of the branch near to your location.

I want a car loan, what documents you need me to send you?

If you want to request a vehicle loan with Iemas, you have to submit your South African Document, your driving license, the last three payslips, your last bank statement, a certificate proving your address (it cannot be older than three months), and the quotation of the car you want to buy.

If I ask for a personal loan, how long will it take Iemas to pay for it?

After you apply for the loan and submit all the requested documentation, Iemas has to start corroborating all the information you provided. This is done in a short time period, though. 2 working days after your loan has been approved by Iemas, your money will be transferred to your back account.

What if my employer does not have an agreement with Iemas. Can I still access their products?

The easiest way to become a member of Iemas is to work at a company which signed a salary deduction agreement with Iemas. However, there is one way in which you can still be a member of Iemas even though your employer is not a partner of this cooperative. How? By applying to private membership. For this, you need to earn a gross salary of at least R40 000 a month and have a clear credit record.

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