Pension Bridging Loans
3 Day Turnaround
Competitive Interest Rates
No Hidden Costs
Are you waiting for a pension or provident fund payout?
Our experienced lenders have fast turnaround times and process most qualified applications in as little as 3 days.
You can apply if you are:
– Deceased Estates
– 2 months bank statements
– Last payslip
– Pension/provident fund benefit statement
– Letter from employer confirming and accepting severance package/medical disability
– Letter of appointment with new company (where applicable)
– Divorce settlement (where applicable – i.e. if you are wanting bridge a pension payout which is part of a divorce settlement)
– Fax the documents to the numbers indicated on the bridging finance application form which will be sent to you.
Cash Advance Conditions & Costs
Minimum Term 70 days
Maximum Term 90 days
APR ( Annual Percentage Rate ) 35.4 %
(NCR rate: Repo Rate x 2.2 + 20 %)
Representative Example (dependent on term and service required)
Advance R 10 000
Interest – 35.4 % pa R 3 540
Interest on 90 days term R 885
Admin Fee 1 R 150
Admin Fee 2 R 900
Capital R 10 000
Total Indebtedness R 11 935
How It Works
Send the documents to the numbers indicated on the bridging finance application form which will be sent to you.
The credit provider will first do a credit bureau check and assess the applicant’s credit profile.
There may be a telephonic interview conducted to verify elements of the application.
The credit report and interview results will be submitted to the credit committee for consideration.
If approved, a “loan against pension” contract with all terms and conditions will be sent to you for signature and once received back, the pension payout or provident payout will be made to your specified bank account.
It is advised that you settle this bridging loan as soon as possible so as to close the contract and to stop incurring costs.
Please be advised that by bridging pension funds or bridging provident funds, you are using savings that are meant for future use.
It is generally very easy to take out Pension fund loan or Provident fund loan and so this decision should be carefully considered before making use of the facility.
We suggest that you take the funds out for the shortest possible time to ensure that your costs are kept to the bare minimum.
Terms and Conditions
There are however two main costs:
1. Admin fee to set the process up
2. Monthly interest charge. These will be shown on the final contract which is presented to you for consideration
Submit your application
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