When you apply for a loan, most of the banks and other credit providers require that you be a South African citizen with a valid bank account. But in some cases the all credit providers will offer loans to people who are not yet citizens of South Africa. If you are a foreign national, but you work in South Africa and have permanent employment, you may be considered for the loan.
One of the requirements of taking of these loans will be that you make foreign national declaration. In short, this basically means that you declared you are a foreign national, and that certain restrictions may apply to the term of your loan. This also goes for other films such as a homeland that you take out from one of the major banks in South Africa.
Being a foreign national may come with certain restrictions, but it does not prevent you from taking out a loan or applying for finance in South Africa. If you adhere to all the requirements, you can apply for any personal loan or a home loan, depending on the credit provider and what they offer.
For example, if you take a well-known one of the restrictions will be that you are not allowed to to take excess funds from the home loan. Also, in some cases you are only allowed to purchase one new property, and only one property may be registered in your name at the bank.
Your foreign national declaration will need to be signed with your loan application, and in the event of home loan. It also has to be signed at the Pont registration attorneys. In many cases, it is required that you have an active bank account for at least six months before you apply for a loan.