VBS Mutual Bank Loans

VBS Mutual Bank Loans,

Personal Loans

The bank offers a wide range of personal loans to suit every need. Loans may be structured within product offerings over different terms to ensure an affordable instalment.

Starter Loan

Ideal for low income earners

Pricing:From R1,000 to R3,000 over a maximum term of 6 months

Starter Loan Requirements

- Employed permanently for a period which is in excess of 6 months. (Applicants who are employed for a specified period of time must provide copies of their contract of employment verified by the employer before the loan application is considered.)
- The applicant’s salary must be paid through his/her bank account held at VBS from which loan repayments are deducted.
- Proof of residence
- Be a South African citizen or have permanent South African residence
- Be 21 years or older
- Have an acceptable credit record and risk profile
- Earn a minimum gross monthly salary of at least R3 000

Prime Loan

Mid-range smaller loans for emergencies such as medical costs, vehicle repairs, school fees etc
Also ideal loans for furniture and appliance purchases

Pricing:From R3,001 to R15,000 over a maximum term of 24 months

Prime Loan Requirements

Employed permanently for a period which is in excess of 6 months. (Applicants who are employed for a specified period of time must provide copies of their contract of employment verified by the employer before the loan application is considered.)
The applicant’s salary must be paid through his/her bank account held at VBS from which loan repayments are deducted.
Proof of residence
Be a South African citizen or have permanent South African residence
Be 21 years or older
Have an acceptable credit record and risk profile
Earn a minimum gross monthly salary of at least R3 000

Premier Loan

A maxi loan ideal for purchases of vehicles, building / extension to your property, tertiary education fees etc

Pricing:From R15,001 to R100,000 over a maximum term of 60 months

Premier Loan Requirements

Employed permanently for a period which is in excess of 6 months. (Applicants who are employed for a specified period of time must provide copies of their contract of employment verified by the employer before the loan application is considered.)
The applicant’s salary must be paid through his/her bank account held at VBS from which loan repayments are deducted.
Proof of residence
Be a South African citizen or have permanent South African residence
Be 21 years or older
Have an acceptable credit record and risk profile
Earn a minimum gross monthly salary of at least R3 000

Home Loans

Ordinary Loan

This type of lending is provided to an individual, partnership, trust, close corporation, public / private company or prospective owner, for the specific purpose of purchasing, improving or building fixed residential property.

Pricing:Risk based subject to Prime lending rate.

Ordinary Loan Requirements

The property to be built or acquired must be situated in a demarcated area where there is a deed of grant or tittle deed.
The mortgage bond amount applied for must not exceed the market value of the property.
The applicant(s) must have proven source(s) of income to service the required instalment repayment.
The instalment must not exceed 30% of the applicant(s) gross income

Building Loan

This type of lending is provided to individuals, partnerships, trusts, close corporations or companies; for the acquisition or development of commercial, retail or industrial property to be sold or leased out on a commercial basis.

Pricing:Risk based subject to Prime lending rate.

Building Loan Requirements

Identity copy
Payslip
Three months bank statement
Building contract
NHBRC Enrolment Certificate
NHBRC Registration Certificate
Copy of building plan (approved)
Signed copy: Schedule of finishes

Commercial Loan

Commercial Loans are provided to large or small companies, for the acquisition or development of property.

Pricing:Risk based subject to Prime lending rate.

Commercial Loan Requirements

The property to be built or acquired must be situated in a demarcated area where there is a deed of grant or tittle deed.
The mortgage bond amount applied for must not exceed the market value of the property.
The applicant(s) must have proven source(s) of income to service the required instalment repayment.
The instalment must not exceed 30% of the applicant(s) gross income