How to use your provident fund as collateral to get a loan for a new house or for additions to your house
Most Numsa members belong to either the Metal Industries Pension/Provident Funds or the Motor Industries Pension/Provident Funds.
If you are buying a new house or if you want to make alterations or additions to your house, then you may be able to use your provident fund as collateral (surety) to get a loan from the bank.
Your provident fund does not lend you the money. The bank does. If you are dismissed or retrenched and you can't pay the bank, the bank will take the money that you owe them from your provident fund to pay off the loan.
How to apply for a housing or house additions loanIf you work in the MOTOR INDUSTRY, talk to your employer. Your employer must phone Standard Bank on 0861 009 429 to find out whether you qualify for a loan.
What is the minimum I can borrow?R5000.
What is the maximum loan I can get from the bank?You can borrow up to 70% of your withdrawal benefit on your provident fund. For example if your withdrawal benefit is R50 000 then the maximum you can borrow is R35 000.
What interest rate will I pay to Standard Bank?Numsa, the motor industry and Standard Bank have negotiated a special interest rate of prime minus 1% (the rate at which banks lend on to the public). At the moment prime is 15,5% per annum so you will pay 14,5% interest rate per annum.
What documents will I need to apply for the loan?* your pay slip* your ID book and a certified copy of your ID book* details about the house you want to buy (ie an Offer to Purchase Agreement) OR* quotations detailing what the additions on your house will cost.If the Bank agrees to give you the loan, your employer will deduct the money from your wages each month and send to the Bank.
If you work in the ENGINEERING INDUSTRY, talk to Standard Bank, Nedbank or FNB. There is no special interest rate negotiated.
The bank will decide:* whether to lend you money* how much it can lend you – it will lend you up to 80% of your withdrawal benefit on your pension/provident fund* what interest rate to charge you* you must make a special arrangement (eg a debit order) with the bank so that they can take the amount you owe them each month from your account.
NB – The bank can refuse to lend you the money. For example, if you already have other loans that you have to pay back each month or if you have debts that you haven't paid or cannot pay, the bank can refuse to lend you more money.
Ukusebenzisa imali yakho yempesheni/yokusiza abasebenzi lapho sebeyeka emsebenzini (provident fund) njengesiqinisekiso ekuthengeni indluAbasebenzi beNumsa abaningi bangaphansi kwe-Metal Industries Pension/Provident Funds noma i-Motor Industries Pension/Provident Funds (Abasebenzi basezimotweni).
Uma ufuna ukuthenga indlu noma wengeze indlu yakho ungaboleka imali ebhange usebenzisa imali yakho njengesiqinisekiso.
Uma ulahlekelwa umsebenzi ungasakwazi ukukhokhela ibhange lokho osalikweleta khona, ibhange liyothatha lokho olikweleta khona ezinzuzweni eziyodonswa emalini yakho.
Uma ungaphansi kwe-provident fund yasembonini yezimoto, cela umqashi wakho ukuthi athinte i-Standard Bank ku-0861 009 429 ukuze ubone ukuthi ufanelekile yini ukubolekwa imali.
Uma ungaphansi kwananoma iyiphi enye i-provident fund, khuluma nebhange lakho ubone ukuthi uyafaneleka yini.
QAPHELA- Ibhange lingala ukukuboleka imali. Isibonelo, uma sewunenye imali ovele usuyibolekile okufanele uyikhokhe njalo ngenyanga noma ezinye izikweletu ongakazikhokhi noma ongakwazi ukuzikhokha, ibhange lingala ukukuboleka enye imali.
Gebruik jou pensioen/voorsorgfonds as borg vir behuisingDie meeste Numsa-lede behoort aan die Pensioen/Voorsorgfondse vir die Metaalbedrywe, of die Pensioen/Voorsorgfondse vir die Motorbedrywe (Autowerkers).
As jy ’n huis wil koop of by jou huis wil laat aanbou, kan jy jou fonds as borg gebruik om by die bank geld te leen. As jy jou werk verloor en nie die geld wat jy nog aan die bank skuld kan terugbetaal nie, sal die bank die uitstaande bedrag uit jou onttrekkingsvoordeel in die fonds bekom.
As jy aan ’n voorsorgfonds in die motorbedryf behoort, kan jy jou werkgewer vra om Standard Bank by 0861 009 429 te skakel en uit te vind of jy kwalifiseer. As jy aan enige ander voorsorgfonds behoort, kan jy met jou bank praat om te sien of jy kwalifiseer.
LW – Die bank kan weier om jou die geld te leen. As jy byvoorbeeld reeds ander lenings het wat jy maandeliks moet terugbetaal, of ander skuld het wat jy nog nie betaal het of nie kan betaal nie, kan die bank weier om jou verdere geld te leen.
Ho sebedisa tjhelete ya hao ya penshene/ya letlole la provident jwalo ka ntho eo o tshwarisang ka yona bakeng sa ho reka ntloDitho tse ngata tsa Numsa ke ditho tsa Metal Industries Pension/Provident Funds kapa Motor Industries Pension/Provident Funds (Autoworkers).
Ha o batla ho reka ntlo kapa o batla ho hodisa ntlo ya hao o ka kadima tjhelete bankeng ka ho sebedisa tjhelete eo o nang le yona letloleng jwalo ka hoo o tshwarisang ka hona.
Ha o ka lahlehelwa ke mosebetsi wa hao mme o se o sa kgone ho lefa banka tjhelete eo o ntseng o ba kolota yona, banka e tla nka seo o ba kolotang sona ho tswa tjheleteng ya dibenefiti e letloleng..
Ha o le setho sa motor industry provident fund, kopa ramosebetsi wa hao hore a iteanye le ba Standard Bank nomorong ena 0861 009 429 ho bona hore na o a tshwaneleha.
Ha o le setho sa letlole lefe kapa lefe le len la provident, bua le ba banka ya hao ho bona hore na o a tshwaneleha.
ELA HLOKO – Banka e ka hana ho o kadima tjhelete. Mohlala, haebe o se o ntse o na le dikadimo tse ding tseo o ntseng o di lefa kgwedi le kgwedi kapa dikoloto tse ding tseo o eso ka o di lefa kapa o hlolehang ho di lefa, banka e ka hana ho o kadima tjhelete e nngwe hape.
Source
Numsa News