Short Term School Fees Loan offers you a convenient way to pay your child's school fees in private schools across South Africa, from pre-school to primary, secondary and up to tertiary levels.
This loan is taken to facilitate payment of school fees, on a short term basis when you are experiencing cash flow crisis and your child cannot skip school.
- This loan is normally disbursed within 72 working hours.
- Interest rate is 3% per year on a reducing balance basis
- School fees Loan is payable within 12 months
- Only one school fees loan may be granted in one calendar year
- No refunds on school fees paid shall be done except in exceptional cases
The product enables CASH ACCESS to meet short term credit facility needs of State employees.
What is it?
It is a very short term loan for the financing of school fees.
It is a special credit facility that can only be granted for a fixed period of the current school year.
Who can benefit?
It is a general public offering. The target client is individual customer holder of current account (civil servants, pensioners ...).
What are the conditions of eligibility?
If you already have an outstanding loan in our book, please just provide the following documents:
- A written request,
- An Attestation of effective service
- A photocopy of your National Identity Card
- A copy of a recent pay slip
- If you have no commitment in our books, kindly provide the following documents:
- A written request,
- A copy of your employment contract
- A photocopy of your National Identity Card
- A copy of a recent pay slip
- What is the loan duration?
The maximum duration: 12 months, to enable you being eligible for the same facility for the next school year.
What are the advantages?
- Quick set-up of the facility
- No guarantee required
- Preparation of the new school year with confidence
- No ITC Credit check