Lulala

The Lulala Housing and Home Improvement Loan is aimed at our customers who would like to upgrade their existing homes, or start building a new home in phases. With affordable interest rates and flexible loan repayment period, this loan product will help the smart investor to build the dream home he or she has always wanted.

 

Repayment period:  12 to 36 months

Loan range: E10,000 to E60,000

 

Included Benefits:

The benefits that are associated with Select loans are an important part of the value that we aim to add for our customers.

Lulala clients have access to our Credit Life insurance as well as Funeral Claim plans. For more information about these benefits, please visit our benefits page here.

 

If you refer a new client to us, you will receive a E200 Shoprite voucher as a reward.

 

Qualification Criteria

  • Applicants must have contractual capacity, minimum age 21 years.
  • Applicants much be Swazi Nationals.
  • Lulala loans are available to both Government and Private sector employees.
  • All employees must qualify under the 33% compliancy rule.
  • Applicants must be employed for a minimum period of 12 months in the case of Private Sector employee and 6 months in the case of Government employment.
  • For existing Select clients with a good repayment record (no previous arrears on their loans), loans can be rolled over. To find out whether you qualify, please contact our call center.

 

Required Documents

Select requires the following original documents as listed below to complete a loan application:

 

For new clients:

  • National Identity Document (ID)
  • 3 months banks statement or bank book reflecting the last 3 months net pays
  • Graded tax certificate – to confirm employee number for civil servants
  • Last 3 months pay slips. Where the order of the pay slip is not consistent, the recent pay slip is a must plus any other 2 pay slips within the past 6 months.
  • For private sector employees a letter of confirmation of employment is required.

 

For existing client s:

  • Last 2 months pay slips. Where the order of the pay slip is not consistent, the recent pay slip is a must plus any other 2 pay slips within the past 6 months.
  • For private sector , a letter of confirmation of employment is required.
  • Submit bank book or bank statement reflecting the last two months’ salaries

 

How do I apply?

Applying for a Lulala loan is quick and easy.  Just bring all to the documents listed above to one of our branches and receive your loan within 12 hours of your application (conditional on which bank you hold an account with).


Where do I receive my loan money?

Loans get disbursed straight into our client’s bank accounts. 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, and for Swazi Bank the process may take up to 3 days.

 

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