Frequently Asked Questions
What products does Select in Swaziland offer?
Select offers a range of products that are specifically designed to suit our customers’ needs. For more information on our product offering, please refer the products page here.
Who can borrow from Select?
Select lends to permanently employed Swazi nationals employed in the Public Sector and private sector companies with which we have a salary deduction facility agreement. To find out whether your employer is one of the companies we provide loans to, please call our call center at 800 4002 (toll free).
Can I take out more than one loan?
Yes, you can have a maximum of two long term loans and one short term loan. Your eligibility for these loans will, however, depend on whether you qualify under the compliance rule, as set out in Section 56 of the Employment Act, 1980.
How much can I borrow?
The amount that you are able to borrow depends on the available compliance on your salary and the type of Select loan product that you wish to take out. Select loan products range from a minimum loan of E500 to a maximum of E100,000.
How do I apply for a loan?
Once you have gathered the required documentation for your loan, you can visit any of our branches to complete the loan application with one of our consultants.
How long does it take to receive my money?
It depends on your bank. For FNB clients we can disburse your loan on the same day of your application. For Standard Bank, Swaziland Building Society and Nedbank clients we will disburse your loan the following day.
Are there any other benefits attached to the loan?
Yes. Depending on the type of loan, our clients are eligible to receive benefits in the form of Credit Life insurance or our Funeral Benefit Scheme. To find out more about these product benefits, please visit the Benefits page here.
Are there any hidden charges on the loan?
No. Our consultants go to great lengths to explain all fees associated with our loan products.
Does Select do any credit checks on loan applicants?
No credit checks in addition to the checking of the 33.3% compliance rule are conducted for civil servants. ITC checks are done for Shesha loan applications and for existing clients whose loans have been on arrears.
When should I call the call center?
Our call center agents are trained to assist you with any questions you might have about the loan application process and the pricing of our products. Call center operating times are 08h00 to 20h00 weekdays and 08h00 to 12h00 on Saturdays.
How can I find out if I qualify to roll over my loan?
You can call our call center at 800 4002 (toll free) to inquire whether you are applicable for a rollover. Call center operating times are 08h00 to 20h00 weekdays and 08h00 to 12h00 on Saturdays.
Do you offer a housing product?
Yes, the Lulala loan is the housing related loan.
What are the benefits of using Select loan products?
Some of the many benefits of using Select loan products include:
- Fast loan disbursement times.
- Competitive interest rates.
- Excellent product benefits.
- Our funeral cover plans cover your whole family, unlike the policies offered in the market that cover only the policyholder.
- Excellent and timely customer service.
How is Select different from the commonly known “Loan Sharks”?
- We do not take any of our customers’ property as collateral (e.g. ATM cards and pins).
- Our customers enter into a legally binding contract with Select Management Services (Pty) Limited, that stipulate the details of the loan; thereby protecting our clients form unannounced changes to their loan.
- The interest rates on our loans are lower than those offered by “loan sharks”.
- Select abides to financial regulatory requirements as stipulated by the Government.