Maya replies: It seems this differs between banks. Standard Bank may be a good option while FNB is a flat no.
Standard Bank replies: We do lend on this basis, however, the following conditions need to be met:
Nedbank replies: South African Reserve Bank (SARB) regulations stipulate that foreign nationals who have a valid work permit issued by the Department of Home Affairs to work in South Africa may apply for loans. Banks have their own credit policies with regard to affordability and credit risk, which may have an impact on the application. Should clients need to return to their own country, they will need to repay the loans prior to leaving South Africa.
FNB replies: We would only grant loans to qualifying customers who have a valid 13 digit SA ID number (Permanent Residents)”
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