LOAN APPLICATION
THE LOAN APPLICATION
Click to download and print an application form for one applicant (individual) or joint applicants (borrower who may be married)
PLEASE ENSURE THAT THE FOLLOWING DOCUMENTS ARE ATTACHED TO YOUR COMPLETED APPLICATION FORMS.
- A COPY OF THE PHOTO PAGE OF YOUR ID BOOK AS WELL AS A COPY OF YOUR WIFE’S/HUSBAND’S.
- A COPY OF THE PHOTO PAGE OF YOUR SURETY(IES) ID BOOK
- A COPY OF YOUR SALARY SLIP AND A COPY OF YOUR WIFE’S/HUSBAND’S SALARY SLIP.
- A COPY OF ALL RELEVANT ACCOUNTS, INVOICES, STATEMENTS EG. CREDIT CARD, OVERDRAFT, SCHOOL FEES, STORE CARDS, DOCTOR’S ACCOUNTS, CHEMIST, ETC.
- A COPY OF YOUR BANK STATEMENT REFLECTING YOUR NAME AND ACCOUNT NUMBER.
1. CONFIDENTIALITY
Members of the Rambam Trust will treat you with empathy and your loan application with the utmost confidentiality.
2. THE LOAN PROCESS
Step 1:
Fill out the acknowledgement of debt (loan application) form or the joint acknowledgement of debt (loan application) form (if the applicant is married) online. Alternatively, download the pdf file for handwritten applications.
Step 2:
Approach a relative, friend, colleague or employer and have them fill out the two page deed of surety. Fax or scan your loan application form together with the deed(s) of surety to 011 485 5402 or rambam@mweb.co.za).
The surety needs to be someone in permanent employment or is in a financial position to repay the loan if you are unable to do so.
Step 3:
The trust administrator will contact you regarding your application. Additional information or sureties may be required. Once the documentation is completed and received at the office, an appointment will be arranged for you (and your spouse) to attend an interview.
Step 4:
Attend the interview with two trustees and the executive director. Bring originals of all documents to the interview (if not already submitted). Interviews are usually done on Wednesday mornings from 8:15AM. You will wait in a private waiting room prior to your interview.
Step 5:
Once the loan is approved, sign the monthly debit order. A typical loan must be repaid by monthly installments over 24 months. We may decide to make payment directly to your creditor. Payment is usually made within 2 working days and is done by EFT.
Step 6:
Ensure that funds are available in your account for the monthly debit order to go through.
3.LOAN ELIGIBILITY AND SURETY
Borrower:
The applicant must be a South African citizen or must have a valid residence permit An appropriate need must be shown.
An ability to repay the loan must be demonstrated.
Surety:
A surety is a 3rd party individual who takes on the debt and responsibility to repay the loan in the event that we cannot recover the funds from the original borrower.
A surety must be over the age of 18 and must have a steady source of income and a strong established credit record.
Multiple sureties may be required depending on the quantity of the loan.
All sureties are jointly and severally liable for payment for the amount that the debtors owes at the time of default. No interest is charged.
The trust reserves the right to call for an additional surety(ies) at their discretion.