On 9 August, the new limits on how much a lender can charge for credit insurance came into effect.
Tag - micro-loans
Proposals to curb the costs of borrowing will be welcomed, but a likely consequence is that less credit will be available.
“What do you think about some of the banks that offer high interest rates such as Finbond that guarantees their investments? Finbond has a banking license just like Capitec and it appears that they offer up to 9.5% on fixed deposits,” writes Michael. Maya replies: You are correct that FinBond is similar to Capitec in that it makes its money...