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What Are the Lending Options Offered by Teba Bank in Rustenburg? Requirements, Interest Rates and Contact Details

Do you live in Rustenburg and it is time improve life? Are you looking for a convenient financial solution so as to get what you want as soon as possible? We highly invite you to read this paper. Here, you will have all the information you need about, Teba Bank, one of the most prestigious banking companies of the country, which offer convenient loans, with low interest rates, accessible payment options and easy way of application.

               First of all, we will talk a little bit about the story of the bank. Although it has recently changed its name to UBank –and this is the name you will find it-, it has been providing banking services to South African’s citizens for more than 35 years. It is actually working to serve 500 000 citizens, all of them more than satisfied with the company... And let me tell you why.

Ulend: the exclusive section for loans

Ulend has an exclusive area of the bank destined to design “bigger loans” for “big dreamers”. Let’s take a look at the features of the loans you, as a Rustenburg’s citizen, can apply for:

-There are amounts of money of up to R180 000.

-Regarding financing terms, you can choose between periods of 1 and 72 months.

-The money will be ready in you UBank account some minutes after approval.

-You can apply online without moving from home.

-There are some extra charges you have to bear in mind (developed below).

-You have the possibility of attaching a credit life assurance.

-There are calculators in the webpage that you can take advantage of so as to know how much money you will pay.

-Some monthly fees may apply.

What do I need to apply?

If you are interested in starting application, please, be ready to pay attention to this information. First, you have to prove that you have a job showing your last payslip. Secondly, you will need a proof of address no older than 90 days. It is essential to be a South African citizen with a green bar-code, an identity book, a passport with work permit, or an ID smart card between 18 and 65 years. What is more, you have to be holder of a UBank account. Otherwise, you will have to show the last three bank statement of another account. Remember you will get the money there.

Uloans: rates, fees and charges

Whenever you apply for a loan, there appear some extra changes out of the blue... Let me warn you about them so are not surprised if you want to work with Teba/UBank. An important charge is the initiation fee. For the first R1000 you borrow, you will pay 16.5%, and then, you will pay 10% of every R1000. Besides initiation fee, you will have to pay a monthly service of R68.4 during the whole life of the loan. As far as interest rates are concerned, they vary based upon the length of the loan. For the shortest terms, you will pay 5% per month, and for the longest ones, interest rates may reach 28% per year.

               In order to see how interest rates and terms work in real life, we have grasped some figures from the online calculation so that you can approximately know how much you will pay:

-Imagine you need R40 000 to remodel your kitchen. You will many options to finance such money. First, let’s see what is going to happen in one year: you will pay 12 instalments of R4094.83. In case you need a longer financing term, you can choose 2 years. In this case, you will pay 24 instalments of R2380.31. There is also an option for 3 years: paying 36 instalments of R1823. And finally, you can choose the longest term: 72 months. As a result, you will pay quotes of approximately R1305.

-Let’s take a look at another example. For a loan of R55000 you can choose among the following possibilities: a year of R5560 per month, two years of R3222 per month, three years of R2462 or 72 months of R1756. Please bear in mind that all the figure are subject to changes.  

-Now, let’s see an example with a higher amount of money: R180 000. You have to be ready to pay a lot monthly regardless of the length of the term. For example, you can choose to pay the loan in 2 years by making 24 payments of near R10236. Another option you have is a term of 3 years. In this case, you will make 36 payments of R7786. You can also make 48 payments of around R6606. And in case you prefer the longest option, you can resort to making 72 payments of approximately R5510.

Branches and Contact Information

The first option you have to apply for a loan in Rustenburg is in person. You can find an office of UBank in Midtown Mall, located at Boo Street. Of course, you can also call representatives by phone dialling up 14 594 6600. Fortunately, there is another office you can visit. It is located at 120 Kerk Street. Another way you have to talk to UBank employees is by phone. There is a general line which is 086 000 8322 ready to answer questions, to listen to complains and even to help you with the application process. Let me tell you that you can also get money from the comfort of your sofa. One option is by sending an e-mail to one of the following address:, or you can complete the application enquiry form in the official website.

               Let’s summarize all the information in the following chart:

Loan amount

up to R180 000

Financing periods

Up to 72 months

Approximate interest rates

From 5% per month of 28% per year

Extra charges



Address is Rustenburg

120 Kerk Street

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                All in all, if you live in Rustenburg, you can be sure that dreams will come true really fast. There one bank at the forefront of lending services with many convenient options that will eventually adapt to your needs: UBank. Contact it, acquire what you need and start living the life you deserve.

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Questions and answers

I am not from South Africa, can I apply for a loan?

Yes, if you have a work permit.

Can I apply for a loan if I am customer of another bank?


I am 70 years old, is it possible to get money?

No, age limits go from 18 to 65.

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