South Africa as a country has made great strides in improving the sanitation and housing situation of citizens in the past few years. The government in partnership with noble private institutions like the national home builders registration council, national housing finance corporation, national urban reconstruction and housing agency, housing development agency etc have all made concerted efforts to make housing more accessible to all South Africans. But even with all these efforts being made, South Africa is still experiencing a housing backlog and its estimated that about 12 million people are still without adequate housing.
The above described void is what Standard bank is trying to help fill. Standard bank has introduced the dreamstart home loans. The standard bank dreamstart home loan is tailor-made for entry-level income earners with a single or joint income of between R1500 and R6000 a month without subsidies and allowances. This loan is ideally meant for those who are considering building new homes or even moving into bigger and better homes.
The dreamstart home loan repayments are done through debit orders and standard bank consultants are always ready to assist those without bank accounts to open one with Standard bank. The repayment and interest rate modalities on this loan are only determined after considering the circumstances of the debtor and these terms are always communicated to clients through the letter of grant. Clients however enjoy unique benefits because if a client pays minimum home loan installments on time every month, they qualify for a reward after two years and again after three years. If a client pays more than their stipulated installment every month, it reduces the amount of interest paid and the loan is serviced faster. The added benefit of the Standard bank dreamstart home loan is that it carries a life assurance which ensures that the loans outstanding amounts are repaid should a client die.
The Standard bank home loan is indeed making a contribution to providing decent housing to the populace as well as resolving the housing backlog.
To access this unique loan, Standard bank can be contacted on 0860123001.