Compare the best loans of South Africa and find the lowest rate
Is it hard to buy your own home? Are you in search of a mortgage that doesn’t ruin your life? Nedbank has what you need. In this article, you will get data about some important loans that will be helpful to buy homes and even more. I highly recommend reading this post so as to get all the information about Nedbank mortgages, applications, addresses and quotes.
Nedbank was funded 129 years ago and since then, it has been expanding its horizons. It has its headquarters located in Sandton but its services reach all the points of the country.
How can I apply for mortgages?
There are many ways to apply for Nedbank loans. Typically, most current and prospective clients choose face to face attention. This is possible by visiting any of the branches that Nedbank has in the country, for example, one in the area of Roodeport. The exact address is 16 Constantia Blvd, Constantia Kloof. Doors are open from Monday to Friday from 8a.m. to 5p.m. At weekends, there is no attention. In the same hours, you can call the bank by phone dialing up 27 11 534 6778. Another possibility is exclusively by phone. The bank has many lines so as to prevent clients from waiting long hours on the phone. In case you need more general information about the company, the line available is 27860555111. For exclusive details about home loans, the line open is 0860 555 111.
And finally, the bank has a system that allows access to the Internet. The webpage has information and calculators so as to bring as much information as possible. What is more, you can apply for mortgages online by clicking on “Apply Online”. You will be redirected to a platform that you have to complete. The process doesn’t take more than three minutes and money will be available almost immediately. There are some discounts when it comes to online application that depends on availability.
MORTGAGES AND CHARACTERISTCS
Fortunately, there is a wide variety of options when it comes to home loans and they read as follows:
-Ordinary home loans: this is one of the most traditional programs available since it will help you acquire the kind of home you want. You will have flexibility of payment and financing so as to get your sweetest home ever.
-Homevision loans: with these programs, you will be able to ask for more money that you really need to buy a home. In fact, you will use part of the money to buy the home and later, use the rest to cover other needs.
-Building loans: with Nebbank, you don’t need to by ready homes. The bank has home loans so as to build a new house from scratch or to remodel a current one with the most convenient financing.
-Readvance: if you are already cover part of your mortgage, you will be able to have access to that money again so as to finance other kind of needs. The money can be used to pay for schools fees, vacations, and even more.
-Further loans: these further loans are just destined to those who already have their home but are in search of convenient financing to improve it. You will get money in three minute to have a larger kitchen, a more luxurious bedroom or more.
-NedRevolve: those who have homes from Savvy have the possibility of making monthly payments higher than expected. Such surplus can be used later to renovate or even upgrade already built homes.
QUOTES AND CALCULATIONS
Now you already know the different programs available, we will show some figures with examples of rates and financing periods. Let’s take as an example, a property of R300,000. The bank requires an initial deposit that can be cancelled with R1,500. If you have a good credit history, you can ask for a minimum interest of 10,5% annually. With these figures, you can pay off the loan in one year, by making 120 payments of approximately R4,027, which makes a total loan amount of R298,500. You can also choose a longer financing period: 2 years. In this case, you will have to make 24 payments of approximately R2,980. At the end of the loan, you will have paid a total amount of R298,500. The maximum financing period is 300 months. In this case, payments will be of R2,818. As interest rates are fixed, quotes won’t vary although time goes by.
OTHER LOANS AND BENEFITS
In addition to home loans, there are other lending programs that can be useful to improve your life:
-Personal loans: you can borrow from R1,000 to R200,000 to finance in periods that range from 12 to 60 months. As soon as the loan is approved, the money will be available in your account so as to be used whenever you need it.
-Vehicle loans: with Nedbank, current or prospective clients will have the opportunity to finance the purchase of used or new vehicle. Among the vehicles available, there are cars, track and even motorbikes. Get money and enjoy the wheels!
-Students loans: if you are looking for a way to administer good education, there are also convenient programs available. There are loans that offer money to part-time students and other for full-time students. Choose the one that suits you best and become a real professional.
-Business loans: no matter if you want to start a business or you want to make the current one succeed. Clients can take advantage of loans that can be up to 10 million so as to buy assets, improve cashflow and cover unexpected expenses.
All in all, acquiring your own home is not that difficult for South African’s residents. The company offers a wide variety of options so as to facilitate the purchase of it. You can choose among programs to buy home, to build one and even to remodel your current one. It is time for you to live where you have dreamt. Choose a property, resort to Nedbank and be happy.