Credit Products


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Makoya Credit

Makoya Credit is specifically designed for our mine-working customers and is essentially a personal loan product with a maximum loan size of R12 000 and a maximum term of 24 months.

In addition to this, Makoya Credit offers:
  • Flexible options to suite the customer’s affordability level
  • Instant payout directly into the customer’s Teba Bank savings account
  • Repayments fixed for the period of the loan
  • Full compliance with the National Credit Act
  • An affordability check to ensure the customer can afford the payments
This product is available at selected Teba Bank branches.

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Tirisano Credit

Tirisano Credit was developed in response to a need at the Impala Platinum mines for a credit product which could assist mineworkers out of a continuing debt spiral. The maximum loan size is R10 000 with maximum term of 24 months.

In addition to this Tirisano Credit offers:
  • An affordability check to see if customer can afford the payments
  • Flexible options to suite the customer’s affordability level
  • Instant payout directly into the customer’s Teba Bank savings account
  • Repayments fixed for the period of the loan
  • Full compliance with the National Credit Act
This product is available to Impala mineworkers with Teba Bank savings accounts at the following hostels: 6 Shaft; 2 Shaft; 9 shaft; Mineral Processes.

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Homebuilder Credit

In order to make affordable housing loans available to our customers, Teba Bank has developed a product called Homebuilder Credit. The loan is fully secured by the customers’ provident or pension fund. The maximum loan size is R350 000 and the maximum term is 120 months (10 years).

Homebuilder Credit provides a solution for low income employees denied access to traditional housing loans because of being deemed as "high risk" by traditional housing finance institutions. It allows our customers to create their own security for the future. We give them a loan to build, improve and own their homes (the bank can never repossess their homes). They can build where they want using a builder / contractor of their choice.

In addition to this Homebuilder Credit offers:
  • Assistance with the application process
  • Payment holidays/timeouts when required
  • Credit to non-Teba Bank customers
  • Easily accessible finance
  • Improved quality of life
This product is available in any area where a Teba Bank branch is in close proximity. Product offering is also subject to negotiations with shop steward, employer and provident/pension fund.

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News

New pricing effective 1 August 2010.

Click here for Pricing Guide

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