Lamna offers fast, competitive loans against collateral in Johannesburg and other key cities across South Africa.
What are loans against collateral?
A collateral loan is a type of secured loan. Borrowers pledge a moveable or immovable asset as a guarantee for the loan.
In some cases, the lender takes physical possession of the collateral, while the borrower retains ownership.
Once the funds are repaid, the collateral is released. The lender has no further claim on the asset.
However, if the borrower fails to meet his or her loan repayments, the collateral is sold to recover the losses.
Examples of collateral
Collateral is anything of value that can be pledged as security for the repayment of a loan.
Collateral ranges from residential and commercial property, business equipment and investment portfolios to savings accounts, insurance policies and even outstanding invoices awaiting payment.
Lamna specialises in loans against personal assets of value – vehicles, watches, jewellery, artworks, luxury handbags and antiques.
Some advantages of collateral loans over unsecured loans
A core feature of collateral loans is the ease with which they can be obtained.
Anyone in Johannesburg who owns a valuable asset, pre-qualifies for financing – regardless of income, employment status or credit history.
The terms of collateral loans are typically more attractive.
Interest rates are more competitive than similar secured loans. Loan amounts are higher and based on a percentage of the appraised resale value of the asset.
Repayment terms are more flexible and, under certain conditions, can be extended on request.
Loans against collateral in Johannesburg
Lamna offers an easy collateral loan application process online or over the phone. Physical appraisals of assets and the signing of loan agreements are carried out at the:
- Lamna Johannesburg branch, 24 6th Street, Wynberg, Sandton.
Lamna is a registered finance provider accredited by the National Credit Regulator (NCR) and Financial Services Board (FSB).
The company launched in 2015. We currently operate branches in Cape Town, Port Elizabeth, Durban, Johannesburg, Pretoria, and Gaborone in Botswana.
When you apply for a collateral loan from Lamna, you’re assured of competitive interest rates and flexible repayment terms.
Our fee structure is transparent, transactions are confidential and funds are available within 24 hours.
For more information about loans against collateral in Johannesburg call or WhatsApp us on 086 111 2866 – or simply apply now, using our online application form.
ILLUSTRATIVE EXAMPLE
Client borrows R10,000 for 90 days.
Loan Amount | Repayment Period | Monthly Interest | Total Cost of Loan | Initiation Fee | Monthly Fee | APR |
---|---|---|---|---|---|---|
R10 000 | 3 months | R500.00 | R2 914.50 | R1 207.50 | R569.00 | 60% |
Fixed rates range from 36% to 60% APR and payment options range from minimum 3 to maximum 24 months. Apart from the initiation and monthly fees shown below, the only additional fee is credit life insurance if the borrower does not have this already.
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