“I am a foreigner with a work permit and a stable income. Can I still apply for a personal loan without a South African ID?” writes Taurai. Maya replies: It seems this differs between banks. Standard Bank may be a good option while FNB is a flat...
You are Here >
Home > My Banking >
Should you save when you have debts to repay?
“I have a total debt if R63 000 with various credit providers. I have thought that I should start saving but not when I am under such debt. I would like to consolidate them but I am wondering with which institution. Is there one that you can...
Credit Life: The cost of insurance on your loan
When you take out a loan or buy a car, you will often be encouraged to take out credit life which is an insurance to settle the loan should you die, become disabled or lose your job. While credit life has its place it can be abused and consumers...
The difference between a money-market and unit trust account
“What's the difference between a money market account and a unit-trust money-market account?” asks Roderick Maya replies: A money-market account offered by a bank is simply a bank account with a more aggressive interest rate. It's an investment...
How do I start a savings club?
Savings clubs are very popular ways to save because they form a social contract between friends which helps create the discipline to save every month. Also when you are pooling your resources you are able to make a more significant investment. Why...
Making strides in shariah-compliant investing
You don't need to be Muslim to invest in shariah-compliant investment products – as the credit-crunch and fall-out showed, Islamic banking and investment products fared well by avoiding interest-bearing assets and securities, focusing on...
Protect yourself against insurance fraud
With white-collar crime on the rise, you might want to keep an eye on your bank statements and salary slips every month. The life insurance industry and the Association for Savings and Investment South Africa (Asisa) are urging people to be aware...
Islamic banking – could it work for you?
When the global financial system was in meltdown not too long ago, the resilience of Islamic banks began to attract attention. Why were these banks able to weather the storm? The suggestion that a banking system is more stable without...
What is the cheapest bank account?
It really depends on your needs. Nedbank, Capitec and FNB seem to be the banks offering some of the best products. But you need to understand your banking profile first. Capitec can be cost effective if you do not do a lot of transactions in a...
