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Personal Loans

Forms can be collected from Neil Smuts.

Criteria: Personal loans

  • Availability : all permanent staff employed for longer than one year
  • Net take home pay : a minimum of R1,000 per month after loan deduction
  • Instalment : must not exceed 40 % of net salary, or 25 % of gross salary
  • Loan amount : minimum R2,000 maximum R13,000
  • Maximum loan : monthly gross salary x completed year’s service
  • Loan Period : 6 to 48 months (4 years)
  • Note: Longer term loans considered in certain circumstances
  • Interest rate : prime plus, fixed instalment
  • General : no garnishee’s permitted, only one personal loan permitted at a time
  • Note: Reason for loan must be specified in application

Last Modified :Fri, 15 Jul 2011 14:58:15 SAST