How can I qualify for a bank loan in Johannesburg?

How can I qualify for a bank loan in Johannesburg?

How can I qualify for a bank loan in Johannesburg?

Although most banks in South Africa follow a definite set of criteria when evaluating loan applications, it is important for the consumer who does not meet one or more of the criteria to remember that alternative lenders exist and many have widely differing requirements. That said, most banks require that the consumer:

  • Be 18 years old
  • Be a South African citizen
  • Be employed full time
  • Have their salary deposited into a South African Bank account
  • Have a good credit record
  • Not be blacklisted or have any pending judgements against them
  • Be able to afford the loan repayments, including the interest amount