Wesbank is part of one of the leading assets financial service providers in South Africa and the United Kingdom. The company provides short term loans, personal loans and vehicle financial support and has been in the industry for over 40 years.
Wesbank, a division of FirstRand Bank Limited, partners with over 60 brands worldwide, and some oil companies as well. Wesbank in partnership with Direct Axis, provides financial services to individuals for vehicles, Home improvement, and “money for the pocket.”
The amount an applicant can request for range from R5, 000 to R150, 000 with a fixed interest rate for the term, and so the interest rate is not affected by the hikes. Interest rates differ by the type of support required and the amount involved.
For vehicle financial assistance, a R20, 000 vehicles at an interest rate of 13.50% over a 60-month repayment period would incur a monthly repayment of R556.14. The mortgage rate at the time of this article is 3.04% Annual Payment Rate for 15 years.
The packages for businesses is quite different and extensive. They have financial services for asset buying, asset renting and also for industries such as mining and construction, agriculture, transport and logistics etc., There are two ways one can apply. Online and over the phone. To apply for a loan, the following are required
- Credit records
- R5, 000 monthly income
- 3 recent Bank statements
- Bank details
- Copy of your ID document.
- Confirmation of residential address
Wesbank and Direct Axis runs a credit check after the application process to determine whether the applicant is qualified to borrow, and how much they can comfortably pay back. The online application process is faster and more convenient. With the online process, an applicant is instantly informed of their qualification to borrow or not.