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Sep 28, 2017 - 34 minute read

Personal loan to buy commercial property

IMPORTANT CUSTOMER INFORMATION. Personal loans differ from other types of loans, such as home mortgages or automobile loans. Specifically, personal loans allow you to spend your money in a number of different ways, whether it's to help pay off medical expenses, make home improvements, repairs to your vehicle or consolidate your debts.

A personal loan is paid back to the lender over a set period of time. Fill out the form and see just how much money you can borrow from the comfort of your own home.

It's as easy as that.

Personal loan to buy commercial property

Because vetting of your application also happens online. This means your ID is scanned on all credit bureaus to ascertain risk, online. But all in all the application process is extremely easy. You will be required to create an account and submit your personal details including bank account details and employment history.

Credit profile rating : Must be good or acceptable. One time pin (OTP) confirmation : One time pin is sent to your mobile phone and email confirmation is also done to complete application. Bank Transfer : Cash is only transferred to applicants name matching name as reflected personal loan to buy commercial property identity book. Bank account number is also matched for legitimacy. Minimum loan application : R100 Maximum loan application : R2500 increased to R8,000 based on your good repayment patterns.

Personal loan to buy commercial property

Why would selling the land at a later date and paying off the loan early ,be a bad thing for them. Personal loan to buy commercial property tend to believe she asked you that because you could take the money and then let the bank have the land back in forclosure. Not suggesting you would in any way.

It's just that this whole housing and land fiasco over the last couple of years, left alot of banks with uncompleted houses and building lots from builders and contractors that the banks are having to complete and or sell. Talking to some LO's with some local banks in the area. Their stories talk about local builder's walking in and literally throwing the keys to 3 or 4 and even 6 uncompleted houses on there desk and leaving (future building lots as well).

It did get a little more involved than that (but this is the short version) Not to mention alot of the same banks having to still sell exsisting forclosed homes.

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