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FAQ

Frequently asked questions

Overview


Ithala home loan offers you an opportunity to buy, build, improve or renovate your own property in urban and rural areas. The loan is secured by registering a mortgage bond against your property.




Benefits


  • Build, buy, improve, renovate or extend your house while you are economically active
  • Use equity on your home loan for additional funding of needs you may have
  • Use equity on your existing property for managing your debts
  • Repayment terms are up to 360 months
  • Loan is repaid before your retirement
  • Competitive interest rates
  • Loan amounts are up to 100% of the property value




Requirements


  • Self-employed or permanently employed South African citizens
  • The property should be within Kwa-Zulu Natal (KZN)
  • Earn a minimum salary of R3 500




Rates & Fees


  • Monthly repayments are done through debit orders or employer deductions.
  • A once off initiation fee will be charge to the maximum allowed by National Credit Act (NCA)
  • A monthly Service fee is also charge as the maximum allowed by the NCA
  • The interest rate is prime-linked over the term of the loan