Finbond and Mutual Bank is an institution that seeks to offer banking services to the under-banked and underserved market of more than 40% of the adult population in South Africa. As at February 2014, Finbond and Mutual Bank has granted R539.3 million in finance.
Since it began trading in 2003, the institution has gone on to become JSE listed (in 2007) and continues to provide quality services in the form of unsecured loans.
Through its 278 branches nationwide, Finbond offers short term 30 -120 day cash loans as well as medium term (6 month) cash loans.
Short term loans are offered from R100 up to R7000 while longer term loans are provided from R8000 up to R20 000. The application process is simple with a 30- 45 minute turnaround time for in-branch loans. Internet applications take slightly longer at a rate of between 3 and 5 days.
What are the requirements for application?
- A valid I.D.
- 3 months’ bank statements
- Latest payslip
- Proof of address
Finbond extends its loan services to senior citizens, who are welcome to apply. This institution specialises in the design and delivery of unique value and credit solutions which are tailored around the borrower’s requirements.
There are two main divisions with the entity:
- Investment and savings products
- Micro Credit products
The micro credit products are designed to give individuals a range of choices when they are in need of extra funds. Paying for education costs or home renovations doesn’t have to be a hassle when Finbond is there to provide tailor-made solutions.
Visit the Finbond website here: www.finbondmutualbank.co.za