If you ever need money you will have two options
open to you.
Loan option
1:
Each member of the Employee Fund is due what is called a
Standard Loan once per year. The Standard Loan available
to you may equal up to threes time your current savings at
the time.
For example:
You save R200 per month . If after 10 months you needed
a loan you would have already saved R2000 so far. You would
be due an automatic loan of anywhere up to R6000!!
This loan is automatically due to you and
would be at very low interest rates and is usually deducted
directly from your salary over a number of months.
If you decide that you will not need
your Standard Loan, it will be offered to another member
of the fund as an Emergency Loan and you will benefit from
the slightly higher interest rate that they will pay on
the Emergency Loan.
Loan Option 2:
If you need financial help urgently you
may apply for what is called an Emergency Loan.
Each Emergency Loan is considered on an individual
basis and repayments are also deducted automatically from
your salary. Although the interest is slightly higher than
that of the Standard Loan, it is still considerably lower
than what you would pay for a loan at other institutions.
This is a great incentive to be a part of
whether you are saving or borrowing, as you can be assured
that you are doing it in a secure and safe manner through
an organization that has your best interests at heart.
Over time the Mamba Employee Fund will become
a wonderful financial asset to you as your savings will
build up and you will be able to borrow up to three (3)
times that amount, at very, very low interest rates, with
no need for surety, capital, or the usual difficult requirements
of banks, FICA requirements, etc.
Example:
You have been saving R200 for the last four years, even
without taking into account the interest added to your savings,
- you would qualify for a loan of approximately R30 000!!!
If you continue to save only R200 per month - after ten
years you would automatically qualify for a loan of approximately
R75 000 with very, very low interest rates, all with absolutely
no need for surety!!!
Ask your manager how you can go about joining
the Mamba Employee Fund today so that as a member of the
fund you can also start enjoying the benefits.
Please do not hesitate to ask your manager
to help you with any additional information you may require.
