SA banks are keeping schtum about increasing deposits

Earlier this year South Africa’s financial institutions were forced to respond to what might be considered the rumour mill. Apparently, our major banking institutions have begun to increase deposit requirements for all home loan applications. Unfortunately, this has come at a time when our country is in the midst of an economic slump. The National Credit Act has become a forerunner of affording everyone the opportunity to own a home of their own. This means that banks need to compensate in order to apply the strict affordability criteria as per the National Credit Act. In reality this means that property … Continue reading SA banks are keeping schtum about increasing deposits