The Bank Act needs to be changed

Why in SA are people required to take a home loan bond for 20 years instead making  the term to depends on affordability. A bank approves you for car finance of R 700,000 for 5 years but you don’t qualify for a home loan of R400,000.This is one of the way to keep the African people from owning land, The Bank Act needs to be changed.

3 thoughts on “The Bank Act needs to be changed

  1. They do this deliberately to take away value from us as the low earning citizens firstly; we usually have to choose between a property and a car cant buy both in most cases. The public transport is so appauling that you are almost forced to purchase a car other than the property; its much easier to get a car as you have said other than a house. The value of a car decreases over time whilst the value of the house increases, so ideally should choose a house but its made to appear as though the car is the best deal.
    I support this motion we as black people are being manipulated by the policies and legislatons in play in our country, they still opress us and we are being told we are free yet we are in shackles. Its about time we fight for real freedom, and I feel EFF is on the right path. However, we have been so betrayed by our black leaders that we just lost all trust in our own leaders.

  2. EFF
    The Fairless party
    The party that will bring equalities to black south African and to end racism
    The party that send the message straight without any favour
    Bhambili nge EFF phambili
    Its high time that African to wake up and its never too late lets all support EFF to rule South Africa
    Thank for the demonstration regarding H&M EFF really concern about us black people
    And only EFF will deal and handle the situation in Vaal the school that doesn’t want to accept 55 kids,Its a shame that after 22 year of freedom we still have such schools.

  3. This is true indeed, I applied for a house late last year (2017) and all banks gave me a very high interest rate as compared to the car im currently paying. There are many financial issues that need to be addressed by the country.

    Mayibuye iAfrica!!!!!!!!!
    iAfrica mayibuye!!!!!!!!!

Leave a Reply

Your email address will not be published. Required fields are marked *