What kind of home loan does RCS offer?

RCS offers customers a switch home loan, which means you already have an existing bond with another bank.

How long does it take to get an RCS home loan?

The process is very simple. You call us via telephone to apply, then forward us the documentation we need (copy of salary slip, ID, current bond statement etc.). Then the application process begins. The whole process takes about 5 working days.

Why is it better to get a home loan with RCS?

One of the biggest benefits is that when the home loan is approved and the customer has signed the documents - an instant cash amount to a maximum of R90 000 will be paid into the customer's bank account. This means you don't have to wait until registration to receive the money - you get some of it upfront!

Are there any benefits to getting an RCS home loan?

• Home Owner Insurance instalments are charged in advance, alleviating compounded interest charges.
• We have also arranged discounted legal fees with the attorneys (flat fee), not scaled like the banks.
• We pay no commission to estate agents, and pass the savings directly to the consumer.
• We even have a legal courier who comes to you, the customer. The customer does not have to run around between banks and attorneys.
• We operate on a lower overhead structure without an extensive branch network and don't need to subsidise a range of financial products like the banks do.

If I have a home loan with RCS, can I still have other loans/accounts with RCS?

Yes definitely!

Is there a way to pay off my home loan faster?

If you make an extra payment towards the principal amount you owe, then this in turn directly decreases the amount of interest you'll be paying in the future. You can pay more than your basic instalment every month or when you get a lump sum of money you can pay it into your bond.

Do you offer new bonds?

RCS at the moment only offers switch bonds and no new bonds. But watch this space!