Terms and Conditions
All pension bridging loans are subject to the bridging lenders T&C.
It is possible to get an advance loan of 10 % to maximum of R 32 000, of the nett Retirement Fund, Pension Fund, Provident Fund or Retirement Annuity due to you.
A negative credit bureau listing may impede your ability to acquire bridging finance. If you are credit bureau listed, your application may be submitted to the lenders credit committee to assess and make a decision on whether to advance a loan or not.
Our private pension lenders offer very competitive rates, which are governed by the National Credit Act.Some loans on pension funds are based on a daily rate and pension funds loans may be on a monthly rate depending on the size of the loan, the duration, the assessed credit risk and the different Pension Funds or Provident Funds.
How Long Will It Take?
If the bridge lender has ALL the documents needed, it can be as quick as 3 working days. If however, documents are missing or the bridge loan application needs further assessment, it will take longer.
Are your loans available nationwide?
Yes, we are a company that services any person in any part of South Africa
What risk to me?
None, whatsoever. However we do recommend that you pay off your pension bridge benefit loan, as soon as possible, to order to avoid unnecessary loan costs.
What is the cost to me?
Loan charges / costs are regulated and governed the National Credit Act and Financial Services Board, regulations in South Africa – so you are well protected from any unscrupulous dealings.
There are however, two main costs:
- Set-up Admin Fee
- Monthly Interest Charges
You will be made aware of the loan bridging costs, before you sign the contract.
Which Provident Funds or Pension Funds are covered?
Most private pension funds and government pension schemes (GEPF) can be bridged but pension schemes acceptable to the lender, can change without notice.
Can I get a loan against my Divorce Pension / ex-spouses pension?
Yes, if you have secured the rights to a portion of the pension and all other terms and conditions that apply to pension funds bridging loans are complied with.