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Ithala SOC Limited - Woman's Life-Long Dream Of Being A Homeowner Comes True


A Mpumalanga woman will soon achieve her dream home and relocate to KwaZulu-Natal, thanks to Ithala SOC Limited's Public Sector to Public Sector (PS2PS) service offering.

Ithala SOC Limited, a wholly owned subsidiary of Ithala Development Finance Corporation, is a pioneer in banking the unbanked in KwaZulu-Natal.

Employees of public sector entities who sign up for the PS2PS offering receive discounted rates when applying for home loans and motor vehicle finance.

Celiwe Ngobese will soon move into a cosy, newly-built home tailor-made to suit her needs - a goal she has worked feverishly towards her entire life. The 45-year-old who works at Eskom's operating department had spent many years approaching financial institutions for a home loan but to no avail.

"I approached many banks who all declined my application due to the choice of location for my home which is in a rural area. It was incredibly frustrating and I wanted to give up," she said.

Running out of options, Ngobese decided to visit an Ithala branch in Empangeni in northern KZN where she was immediately informed about the PS2PS offering. Working at a public sector entity placed Ngobese at an advantage for preferential rates on home loans.

The favourable response from Ithala resulted in Ngobese securing finance, thereby enabling her to forge ahead with the construction of her dream home.

"Ithala was very efficient. My loan application was approved quickly. I was taken through every step of the process diligently. I know there are countless other people who are in a similar situation and probably feel helpless. It is comforting to know that there is a financial institution that cares for ordinary South Africans," she said.

Ngobese looks forward to moving with her pets into her new home which is near completion, and finally beginning a new chapter as an official resident of KZN. She encourages other public service employees to take advantage of the PS2PS offer.

"When it comes to home loans, many commercial banks may not help people like myself but Ithala is an exception and worth a try," she said.

Shane Moodley, Ithala SOC Limited's Head of Segments said "Our Rural Home loan is a unique offering that provides access to home ownership in rural areas allowing our clients to build a legacy for their children and generations to me" 

He said Ithala had banked marginalised communities long before mainstream banks ventured into the rural areas of KZN.    

A current distribution network of 39 branches in KZN provides convenient transacting facilities. Ithala offers a comprehensive portfolio of corporate and personal banking solutions.

For more information visit, call 031 366 2500 or follow #MoveToIthala.


Issued by:       Ithala SOC Limited Head Office

303 Dr Pixley KaSeme (West Street)         

15th Floor Delta Towers


Ithala SOC Limited - Woman's Life-Long Dream Of Being A Homeowner Comes True

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