Who can apply?
Basic requirements to qualify for a bonus loan.
Government employees can apply for a bonus loan during any month, presuming it is 2 months (60 days) before their bonus month.
For any NON GOVERNMENT employees YOU hHAVE TO BONUS IN NOVEMBER OR DECEMBER of every year. This means you can apply during October presuming it is 2 months (60 days) before your bonus.
You may use your gross salary amount on your payslip and apply for a maximum of 20%(or R5 000) thereof.
You need to calculate 20% of your your expected bonus. If the result is between R2 000 – R5 000, you may apply for that amount. Maximum amount is R5 000.
The amount that you apply for may not exceed 20%(or R5 000) of your expected bonus. This is your bonus amount only and does not include your normal salary on the bonus date.
For example: If your salary is R15 000 and your bonus is R15 000, you must calculate 20% of R15 000 and not R30 000.This means you can apply for a maximum of R3000.
For any assistance please contact us on +27 (0) 41 922 8843.