FAQ

Staff Loans

Q. What amount of loan do I qualify for?

A. Payment must be lower than 40% of nett salary and 25% of Gross up to a maximum of:
Personal Loan R13 000.00, Funeral Loan R2 000.00 and Car Loan R125 000.00 -whichever is the lower amount over how many years the loan can be taken.

Q. How old/new can the car be?
A. Not older than 11 years when the loan is paid up.

Q. How long do I have to be at RU before I qualify for a loan?
A. 1 year of service, after which you may loan an amount equal to your monthly salary in the second year, twice your monthly salary in your third year and in the fourth year to a maximum as stated above.

Q. How do I qualify for a loan?
A. No garnishee deductions on salary, net take home must not be less than R1 000.00 after loan deduction and no bad credit history or unpaid accounts.

Last Modified: Fri, 15 Jul 2011 14:58:16 SAST