Provident Fund Loans | Pension Bridging
Frequently Asked Questions
- In order to secure Provident fund loans or a Provident funds loan, you need to have resigned from your fund.
- Loans on provident fund can only be applied for by you, and not another person.
- A Divorce pension loan can be applied for by a spouse with the consent of the other spouse or if a court has ruled in your favour
A Loan on provident fund is a quick way to access a money for your day to day expenses from your provident fund savings.
- It is a loan against your provident fund savings. Loans against provident fund savings are personal loans normally granted by a private company and are safe.
- A Pension loan is a personal loan. All loans on pensions are repayable within 4 to 6 months from the funds you receive from the pension payout.
Your Loan pension is an unsecured loan. You are essentially taking money from pension to fund day to day expenses or settle debt.
Loans against provident fund savings are permitted if you have given the fund termination notice.
Pension loan companies work quick to provide both Provident fund bridging finance and pension bridging finance.
Pension loans are a quick way to get money out of your pension savings fund. You must however give your pension fund notice that you intend terminating the pension contract.
Yes, a pension fund loan is safe and secure as long as you pay the loan back. If you do not pay it back then the loan company will issue summons, blacklist you and charge interest on the loan.
You cannot borrow against a pension fund if you have not resigned from the fund. You need to give your provident fund notice that you intend to stop the fund.
A loan from a provident fund has interest charges and these are governed by the National Credit Act. It is safe to take Loans on provident funds from accredited lenders we refer you to.
Pension loans and provident loans are secure and are affordable. The lender will quote you the rate before you sign the loan agreement.
Pension bridge and bridge pension definition
It is a Loan against pension fund and also includes provident fund loans finance. You are essentially taking funds out of your savings earlier than the maturity date.
Is essentially pension lending. It is a way to convert your pension or provident fund into cashif you intend or have given notice to cancel the savings.
Provident fund finance South Africa
Provident fund loans are provided to individuals by private companies in South Africa
Which funds will give me a pension advance
You can get a pension fund loan on almost all South African pension insurance companies.
Apply now for a quick answer. Safe and secure.
Can I borrow against GEPF
Yes, if you have given the GEPF notice that you wish to cancel your pension savings fund
These are loans on pension funds or loans against pension savings.
Is it possible to get a Provident Fund Loan
Yes, as long as you intend resigning from the fund.
Can I get some of my divorce spouses pension
Yes, if the courts have ruled in your favour or you have a settlement agreement from your spouse
Pension Divorce or Divorce Pension
Occurs when a person gets divorced from their spouse and claims a portion of the spouse pension. Your spouse needs to agree or a court needs to have ruled in your favour.
Loan Against Provident Fund and Loan Against Pension Fund
You are essentially borrowing against pension savings or borrowing against provident fund savings. These are your life savings and so borrow the least amount possible.
How much can I borrow against my pension
You can only borrow 10 % of the savings, to a maximum of R 32 000
Who gives loans against pension funds
We arrange for a private pension bridging company to contact you to advise on pension loans and provident fund loans
What divorce and pension rights do I have
- Spouses are permitted in some cases to take a pension loan or provident loan from their spouses savings funds if the court has ruled in their favour or settlement has been reached.
- Your rights to a pension loan in a divorce are governed by the type of marriage contract you have and the agreement you have with your spouse
Why bridging pension makes sense
IF you have immediate debt to settle, use pension bridging loans to settle debt to ensure you are not listed at the credit bureaus. Once listed then you will have great difficulty making loans anywhere.
Retirement pension loans possibility
These are possible if you intend or already have resigned from the pension savings fund.
It is a loan against pension funds and can be arranged very quickly if you have all the supporting documents from the fund. You cannot borrow against your pension or provident fund while it is still active. You need to have advised your funder that you wish to resign.
Cash Advance Conditions and Costs
Minimum Term 70 days
Maximum Term 90 days
APR ( Annual Percentage Rate ) 35.4 % (NCR rate : Repo Rate x 2.2 + 20 %)
Representative Example ( dependent on term and service required )