All permanent full-time or part-time employees as well as contact workers for the duration of their contract, and are in posession of a valid drivers license may apply for a loan in terms of this scheme on the prescribed application form.
The amount of the loan is limited to 90% of the market/resale value of the vehicle. The instalment (including interest) is limited to a maximum of 25% of the staff member’s monthly pension-bearing salary and is repayable by way of a maximum of sixty (72) equal monthly instalments.
Interest is charged on the loan monthly.
Please note that the US must comply to the new Credit Act (NCA). Credit reports will be requested for each application. If credit is granted, the credit information will be supplied to the credit buros on a monthly bases.
|Policies and Procedures (.pdf) » |
|Payment Calculation (.xls) » |
|Application form (.pdf) » |
|Requirements of Application for Financing » |