What do bank loan applications require in Durban?
If you are a Durban consumer who is searching for a loan to finance a new car, further studies, or even home renovation, you may be wondering what bank loan applications require in Durban. Lending criteria vary between banks and may also depend on the type of loan you are applying for. For example, an unsecured or personal loan will rely much more on the borrower’s credit rating as proof of their ability to repay the loan, whereas a secured loan will use the given collateral for that security. At minimum, you must be a South African citizen with a valid South African identity number and have a salary paid into your bank account.