Pensioners Loans in South Africa

By: admin

Did you know you can still take out a loan if you’re retired? Well, you can! But there are a few important nuggets to consider before you do.

Pensioners Loans in South Africa

When we reach retirement, it’s not uncommon to have most of our finances tied up in assets. And if you need an injection of cash for a purchase (you know, to start enjoying your well-earned relaxation time), keeping your assets invested is preferable to releasing equity from your house, for example.

As such, taking out a loan can be a great alternative, particularly if you’ve got a good credit history and interest rates are low.

However, if you apply for a loan, you need to prove you can pay it back. And ordinarily, that’s done by showing your income. So, when you’re not on the payroll, what else do lenders accept?

Related post