A loan is something that many people in South Africa shy away from especially if they are already over indebted and are struggling to meet their monthly financial obligations. A loan shouldn’t scare you especially if you are over indebted because there are specialised loans that are created to get you out of debt and have you back on your feet again. The South African Army Foundation has established a plethora of financial services available to Army veterans. If you are a part of the army then you are in luck because there is a financial solution waiting specifically for you.
About South African Army Foundation Loans
The South African Army Foundation is a division of the South African army that was established in 1956 to assist army employees and their dependents with the provision of financial benefits that the country does not offer through the traditional conditions of service to the country. The organization is a non-profit organization and neither is it funded by the state. The organization is mandated by the minister of defence who ensures that army employees have access to only the best financial products. The organisation has a wide variety of financial products suitable for different lifestyles.
The organization assists more than 40 000 members of the army both who are currently serving in the army and those that have served in the army before. The main objective is to ensure that the services offered reach members of not only the South African Army but also members of the South African Air Force, the South African Navy as well as the South African Military Health Service. The organization operates on the core belief of improving the quality of members’ lives.
Services and products
- Group Scheme Insurance
- Funeral Policies
- Gratuity come retirement
- Army Foundation Payday Loans
- Personal Credit Reports
- Loans from R300 to R30 000
- Payment terms of up to 11 months
- Professional service consultants
- Quick online and easy payday loan application from R500 to R2 500
The types of loans that you can anticipate from the organization are short term loans and that is because a short term loan is a loan that is payable within 12 months or less and usually consists of a small to medium sum of money. These kinds of loans are great to attend to emergencies that need immediate financial attention. Sometimes all you need to do is make it through the month and when your budget is blown like that of so many in South Africa; you can turn a short term loan from the South African Army Foundation that will alleviate that stress and frustration of being strapped for cash.
Remember that in order to qualify for a loan you will need to provide the following documentation:
- South African ID
- Proof of residence
- Proof that you are or were part of the army in South Africa
- 3 months bank statement
- Be 18 years of age or above
- Be employed by the same employer for 3 months or more