ITHALA RURAL HOME LOANS

A Rural Home Loan offers you the opportunity to buy, build, improve or renovate your own property in rural areas. The loan is secured by registering a cession on Permission to Occupy or Leasehold title.

BENEFITS

  • Build, buy, improve, renovate or extend your house while you are economically active;
  • Repayment terms are up to 240 months;
  • The loan is repaid before your retirement;
  • Competitive interest rates;
  • Loan amounts are up to 100% of the property value.

WHO QUALIFIES FOR A RURAL HOME LOAN?

  • Self-employed or permanently employed South African citizens;
  • The property should be within KwaZulu-Natal;
  • Earn a minimum gross salary of R3 500.

INSTALMENTS AND FEES

Monthly repayments are made through debit orders or by employer deductions. The interest rate is prime-linked over the term of the loan.

REQUIRED DOCUMENTS FOR AN APPLICATION

  • South African bar-coded identity documents/card.
  • Latest payslip, if employed or past two years financial statements and six months bank statements for self-employed individuals;
  • Proof of address not older than three months;
  • Agreement of sale and/or building plans with builder’s quotation.

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