Compare the best loans of South Africa and find the lowest rate
Post Bank is an institution that works towards the wellbeing of African citizens. It has been in the market since 1875 approximately, and later on was incorporated to Post Office, which was the entity that took absolute control of it some years later.
At its beginnings, this institution was devoted to taking deposits but, in order to address the needs of South Africans, it eventually turned into a full-fledged financial entity. This means that from that time on, its clients were able to make transactions, invest and even save money.
This bank is managed by Africans and devotes its attention to helping people fulfill their dreams by providing the means with which they can reach better living conditions. Post Bank customer service is made up of experienced advisors that are trained to assist you on whatever you may need, even though if English is not your first language. By any means, Post Bank main objective is that you feel valued and appreciated.
Office Address 235 Carrington St, Golf View, Mahikeng, 2745
Phone number +27 18 381 6090
Email Address firstname.lastname@example.org (Customer Care)
Other means of communication You can send a text message from your cell phone to this number 32302. You have to send the word "Bal" together with the last four digits of your account.
What are the services offered by Post Bank?
If you are looking forward to asking for a loan and therefore, information in relation to the lending products offered by this bank, let me tell you that this bank does not offer loans at present. However, you will find herein the services that are being provided by Post Bank. To start with, you will find three main categories under the title of savings accounts, terms deposits, and transactional accounts. In turn, each category contains three available options. Let's see:
- Smart save: Generally, people decide in favor of this account when they want to save money in a secured place knowing that they can have access to it whenever they need. The features of this saving account are mainly that deposit cheques are free of charge, your transactions are recorded in a savings book and that you are able to withdraw money from any Post Office branch. As regards the requirements, you have to make a deposit of R50 the moment you open the account, and as regards documentation, you will need to present your ID and an evidence of address where you reside.
- Backgotsi: This account is designed for groups of people, such as associations and clubs. With Bakgotsi account these organizations will be able to keep their money in a safe place at the same time interest is accumulated as time goes by. Within the benefits of having a Bakgotsi account, you can select the period of time from which you will keep the money in the bank, there aren’t any minimum or maximum balance set for you to save and withdrawals are unlimited. If you are interested in opening this type of account you must have a document that validates the existence of the group, it can be a constitution or a declaration in which the group goals are specified. Additionally, the moment the account is activated, you will need three verified signatures coming from three different people. Furthermore, whenever you make withdrawals, two people who have signed for the account opening must be there. Similarly to the previous saving account, you also will need identification and in this case, as there are more than one person involved in the account ownership, each of them will have to have their corresponding ID and proof of address.
- Smart save for minors: If you are in search of a secured place where you can save your money, especially when it comes to taking care of the future of your children, then this account may encompass all you may need. First of all, this account has been created for children who are under the age of sixteen. The main features of this account are quite similar to the previous saving accounts already explained in this article except that initially, you will have to make a deposit of R10 to be able to open it. In addition, you must present your certificate of birth and the ID of the person that is in charge of taking care of you, such as your parent or a guardian. Equally important, you need the proof of address of this person, too. If you are the person that is going to start the paperwork and you are a minor, then you must be accompanied by the an adult (in this case, your parent or guardian).
- Term save: This account is ideal if you have to make an investment for the long term. There is an R1000 amount of money that is set as the minimum amount for your investment. As long as time goes by, you are able to earn more interests. The period of the investment can range from 1 to 12 months.
-Bonus save: This is a kind of special benefit for those clients who are able to qualify for a bonus of 0.50% interest. The terms for Bonus save accounts are diverse and vary from one another as well as their interest rates.
- Term save plus: This kind of term deposit account is perfect for you if you want to save money for at least 2 years. This means that the money will be stored in this bank for this period of time and you won’t be able to have access to it. Within this account, you will find that its interest rates are really competitive.
- In this last option, you will find three types of debit cards: Flexi Debit Card, Aspire Youth Debit Card, and Mzansi Card. Broadly speaking, these cards are linked to a saving account which allows you to do transactions hassle-free, without the need of you carrying cash everywhere you go.
Although this bank does not offer borrowing options, the myriad existing saving accounts designed for each type of client can be of great help in case you are looking for a safe institution where to keep your funds. Be ready to start negotiating with Post Bank!