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Under the current economic circumstances, many people who have bought goods on credit during the past 36 months are feeling the impact on their cash flow and need a solution for restructuring their personal budgets.
Sanlam Home Loans (SHL) offers the ideal solution to home-owners with equity in their properties - SHL Money Manager.
About Sanlam Home Loans' Money Manager
With Sanlam Home Loans' Money Manager you can finance your short-debt using the existing home loan as the primary account. And your debts will be refinanced as secondary accounts at the same interest rate as your home loan account. This means you can save thousands of rands and improve your cash flow.
How much can you save with Sanlam Home Loans' Money Manager?
Example of Debt Refinancing:
| |
Home loan |
Vehicle finance |
Credit card |
Personal loan |
| Loan amount |
R400 000 |
R100 000 |
R20 000 |
R30 000 |
| Repayment period |
240 months |
60 months |
24 months |
60 months |
| Interest rate |
15.5% |
16% |
23% |
28% |
| Monthly payment |
R5 416 |
R2 432 |
R1 047 |
R934 |
| |
|
|
|
|
| Total loans: |
R550 000 |
|
|
|
| Monthly payments |
R9 829 |
|
|
|
| |
Home loan |
Vehicle finance |
Credit card |
Personal loan |
| Loan amount |
R400 000 |
R100 000 |
R20 000 |
R30 000 |
| Repayment period |
240 months |
60 months |
24 months |
60 months |
| Interest rate |
14% |
14% |
14% |
14% |
| Monthly payment |
R4 974 |
R2 327 |
R960 |
R698 |
| |
|
|
|
|
| Total loans |
R550 000 |
|
|
|
| Monthly payments |
R8 959 |
|
|
|
This table is for illustration purposes only and the rate can vary depending on each individual's financial circumstances.
Speak to us about SHL Money Manager
Click here to speak to a Sanlam Home Loans specialist in your area. |
