Gillie

Companies in South Africa that offer car insurance

 Car Insurance  Comments Off
Nov 072011

COMPANIES IN SOUTH AFRICA THAT OFFER CAR INSURANCE COVER
Companies who offer insurance for a car are:

Dial Direct Insurance entered the South African short-term insurance market in 2003 and occupy a unique position in the marketplace as the consumer’s hero because they cut out the middle man and you deal directly with the insurer – they offer insurance for a car – either on the internet or via their call centre. You and you alone have personal control of your short-term insurance needs. Dial Direct has advanced technology and call centre systems which ensure prompt
answering of all sales enquiries and a turnaround time for policy administration and claims processing that is unrivalled in the industry.

MiWay Insurance Limited is an authorised financial service company that offers a full range of financial products and services direct to the consumer. MiWay’s initial offering includes short term insurance for a car plus motor warranty and credit life but there are long term plans to extend this offering to a complete array of services all under one convenient umbrella.

OUTsurance is a direct short-term insurance operation within the RMBH FirstRand stable, a leading South African financial services group that offers insurance for a car.  Launched in February 1998, OUTsurance has captured the imagination of the public with its innovative approach that includes a suite of products with a range of special features and benefits. On 1 January 2000 OUTsurance merged with First National Insurance, a company within the same group. The
merger formed part of the broader FirstRand bank assurance strategy and consolidated the group’s short term insurance business.

Companies in South Africa that offer car insurance 20111107289.5625 Companies in South Africa that offer car insurance

Posted by Gillie at 11:29 am  

PERSONAL LOANS

 Finance  Comments Off
Oct 142011

PERSONAL LOANS

At some stage in our lives we are going to want to make a personal loan for alterations and additions to the home, for a child’s education or bursary or – these days especially – to pay off your debts. Most banks will offer you a personal loan – but you need to be aware just what it is going to cost you. First of all you will need collateral, second of all your previous track and credit record, deposit amount. The table gives an example of loan amounts and interest rate applicable:

Loan amount

R12 000

R15 000

R25 000

R32 000

Loan term (months)

36

42

48

60

Fixed monthly repayment

R733

R830

R1,199

R1,351

Monthly instalment as a % of capital

6.1%

5.5%

4.8%

4.2%

TOTAL REPAYMENT

R26 385

R34 864

R57 537

R81 086

In addition these are the documents you will be asked for by the lender:

2 current payslips (or for self employed 2 years tax returns)
Rental statement
Credit card statement
Mortgage statement
   
Before applying for a personal loan it would be advisable to do a credit check – this will provide the information required by the lender to determine whether you are a credit worthy. It will give information such as your financial history including past and current income; assets and liabilities; your education, employment, career, professional or business history, your identity, including name, date of birth, identity number, marital status and current addresses.

PERSONAL LOANS 20111014705.5475 PERSONAL LOANS

Posted by Gillie at 9:12 am  

WHY HAVE INSURANCE

 Buy Insurance  Comments Off
Oct 132011

INSURANCE COVER

If your house was cleaned out today in a burglary and you weren’t insured - how would you replace all the items that have been stolen. And that should be your number one reason for having an all risks insurance policy.  The home that you bought with all your hard earned savings – what if it were to burn down?  Where
would you go and how would you live?  Another valid reason for taking out a homeowner’s insurance policy. Likewise a small business cannot operate without insurance. You need to minimize risk of loss from circumstances beyond your control or you could just see your business sliding away from you.

Firstly, you should identify where the risks of the business lie so that you can assess what the biggest amount of loss would possibly be. So as you can see the basic purpose of insurance is to anticipate major losses that could financially cripple your future. One of the biggest mistake people make is to under-insured
their assets. So comes the revolution when the insurance man comes in to assess the damage or loss, you may land up getting only half of the value of your precious belongings.

Adequate insurance should cover your property against fire, sprinkler leakage, explosion, vandalism, riot or civil commotion, lightning and hail to name but a few.  Make sure you get your belongings properly covered right up front to avoid any surprises if you suffer loss or damage.

WHY HAVE INSURANCE 20111013289.5625 WHY HAVE INSURANCE

Posted by Gillie at 1:08 pm  

Credit bureaus

 Finance  Comments Off
Sep 192011

CREDIT BUREAU INFORMATION – Part 1

A credit bureau is an important tool in ensuring access to credit and it is therefore important to understand their role in the scheme of things. A credit bureau is a ‘library’ of credit information, providing a comprehensive database of a consumer ‘s credit behaviour i.e. how well does he manage credit commitments. This information could either be positive (i.e. accounts that are up to date, or fully paid up); or negative – pertaining to judgments and adverse credit information of defaulted credit accounts.

If you need a free credit check – this will provide the information required to credit providers in order to prevent over-indebtedness of consumers and the granting of reckless credit.

Consumer credit information means:

• The credit history of an individual – including:
- applications for credit, credit agreements to which the person is or has been a party;
- pattern of payment;
- default under any credit agreements;
- debt re-arrangement in terms of the NCA;
- the circumstances of termination of such credit agreements

• a person’s financial history including
- past and current income;
- assets and liabilities;
- other means within the scope of that person’s financial means;
- prospects and obligations as defined in section 78(3)73

• a person’s education, employment, career, professional or business history, including the circumstances of termination of any employment or business relationship

• a person’s identity, including his/ her name, date of birth, identity number, marital status and family relationships, past and current addresses.

LOOK OUT FOR CREDIT BUREAU INFORMATION PART 2 WHICH DEALS WITH CREDIT BUREAU CHECKS

Credit bureaus 20110919592.4583 Credit bureaus

Posted by Gillie at 10:58 am  

Credit Checking with ITC

 Finance  Comments Off
Sep 192011

CHECK IT OUT BEFORE YOUR GET YOUR FEET WET

Doing an ITC credit check is by far the most advantageous way to travel if you are needing the financial history of a company with whom you wish to do business. In 2009 it was decided to embark on an educational program for small businesses to assist in understanding their credit profiles.  They were also encouraged to register their business information with ITC in order to ensure that ITC remained the most comprehensive business database in South Africa, i.e. on this database are over 3.3 million businesses, of which 600,000 are credit-active.

In  order to sell their products and services they needed to enter new markets and use creative ways to find new customers. Although companies are interested in doing business with the small business sector, the information is not sufficient to allow them to asses and understand the risk involved. They still need to carry out an ITC credit check.

It is a fact that most small businesses are Black Economic Empowerment (BEE) companies. So it
goes without saying that this segment of the market is attractive inasmuch as it gives companies the opportunity to earn BEE points by procuring from them.

In the new dispensation, it is therefore desirable for companies to do business with these small businesses as
this is a market segment that holds a competitive edge. An ITC check will greatly reduce information barriers for companies and give them  the vital information they need.  Being able to have information on a company’s track record, stability and bank account performance is by car the most effective way to reduce the risk factor. So getting an ITC credit check before you embark on new ventures is a win-win situation for everyone – companies can then take advantage of bigger opportunities to access new markets and this in turn will help drive continued economic growth.

Credit Checking with ITC 20110919364.0187 Credit Checking with ITC

Posted by Gillie at 9:40 am  
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