Does Sanlam Offer Micro and Maxi Loans? Information and Contact Details
About Micro and Maxi Loans
Before starting with the article, let me explain you in just a couple of words what each loan is about. A Micro Loan is named like this, because there exists a limit regarding the amount of money the applicant can obtain. Thus, it allows customers to make certain purchases such as appliances and furniture, and leaves out others.
Now, a Maxi Loan is the opposite, the customer can asks for higher amounts of money, an even increase it during the loan. So, more expansive purchases can be made with the support of this loan.
In the next article I will go over each of the two loans. Sanlam only offers Maxi Loans, which is why in order to give you information about Micro Loans I will resort to a reliable company that does offer them, Absa. Then, I will give you the contact information of both companies.
Micro Loans offered by Absa
There are two key Micro Loans you will find in this company:
1) BUSINESS TERM LOAN
This loan as specifically designed for customers that are having a bad situation with their money and need to pay debts created a long time ago. Moreover, they can make use of this money to make purchases for their home. Or, it can happen that the money is being used to modify the balance of a business so as to have a fresh start.
Customers are given financing terms that range from 3 months to 10 years, which in fact is a lot. The interest rates defined will be fixed.
3) BUSINESS OVERDRAFT
This is a Micro Loan that gives businesses the possibility of getting easy money for a time period that has no limits. In fact, the overdraft of the loan can be changed in accordance to the agreement made at the beginning of the loan. The interest rates are fixed and determined by the usage that the customer gives to the money. So, depending on the type of purchase you make or what you pay, the interest rate will depend at times.
Let me focus now on the requirements for Micro Loans at Absa:
-You can choose affordable financing periods whose maximum is of six years
-It can happen that the loan becomes secured once you reach a limit regarding the amount granted. In such case you will need to find an asset which is valuable and serves as guarantee
-Interest rates are defined at the time of applying for the loan, based on your income
The Maxi Loan offered by Sanlam
This is a loan that because of its amount, can be used for any kind of purpose. Its maximum is that of R 200 000, which is more than the maximum proposed by other companies. The interest rates are fixed, just like with Absa and the money is granted in a period not superior to 3 days. However, even though you get excited about the amount, you need to know that the company will determine the definite amount given, always considering your finances.
The minimum granted by a Maxi Loan is R 3000. If you want more, the company is willing to add R 1000 as each month goes by.
Find the best loan of South Africa
Let’s focus now on the requirements:
-The majority of age is compulsory. So, you need to be at least eighteen years old
-You must be a South African citizen
-It is compulsory that you possess a job and that its wage is of at least R 2500
-You must keep a faultless credit record in terms of previous loans
If you are willing to apply for a Maxi Loan with Sanlam, you can do it over the phone. That is right, you just have to dial up
0861 08 08 88 from home. You can apply on the phone during weekdays from 08:00 am to 08:00 pm. You also have the option of completing a simple form, in the company´s website, and sending it to Sanlam.
No matter how you apply, after you send your data you will receive a call from a representative informing you if your application was approved or denied. Then, the company will select a loan for you.
There is one office in Johannesburg located in a Shopping Centre. The exact address is Coronel 11 tie and Grayston Road. Its phone number is the following: 011 689 1940.
There is another office in Bloemfontein, in the area of Corner Donald. It is located at Murray and Nelson Mandela Drive, whose phone number is 051 401 1051.
Inside Absa´s webpage you will find many details about each of the Micro Loans, ways of applying for a program and a section that allows you to send quick messages.
Contacting Sanlam for a Maxi Loan
Sanlam has one of its offices in Cape Town. This branch is found in Western Cape. The precise address is 2 Strand Road. And, you can phone this office if you dial up the following number from home: 27219479111.
Sanlam has one of the most complete webpages, with a contact section, an application section and also many details about each type of loan they offer, not only about Maxi Loans.
You can take advantage of Sanlam´s customer service, always willing to answer your replies and questions: 0861 44 00 44. This number can also be phoned on whenever you would like to begin the application from the comfort of your house, without going in person to a branch of the company.
To conclude, whether you are looking for low amounts of money, given by a Micro Loan or very high ones, granted by a Maxi Loan, you have companies to provide you with the financial support you need. You can contact Absa for a Micro Loan and you can contact Sanlam for a Maxi Loan. Take into consideration how much money you need, and based on that decide! I am sure you will not regret it!!!!
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