South Africa’s largest online retailer, Takealot, has partnered with MortgageMarket to launch the Takealot Home Loan Hub, a free online platform that allows users to apply for and compare home loan offers from multiple South African banks. The new service is aimed at making the home loan process as simple and convenient as an online shopping experience.
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“It’s like adding a home loan to your cart — simple, transparent, and convenient,” the retailer said. “Just like you trust us to deliver everything to fill your home, now we can deliver your ideal home loan too.”
The Home Loan Hub offers a streamlined application process that can be completed in under 30 minutes if users have the necessary documents ready. Users can get pre-approved and receive personalized loan offers from seven participating banks and financial institutions, including Absa, FNB, Investec, RMB, and Standard Bank.
Here’s how it works:
- Users visit the Takealot Home Loan Hub landing page and select “Get Pre-Approved Now.”
- They create a profile and submit required documents like an ID, latest payslip, and bank statements.
- The service uses a pre-population feature to automatically pull the user’s credit history from Experian with a “soft credit check.”
- Within 72 hours, users will receive a range of home loan offers on an online dashboard, where they can compare terms, rates, and benefits.
To sweeten the deal, Takealot is offering a voucher to any user who successfully registers a bond through the platform. The voucher is worth 0.5% of the registered home loan value, capped at a maximum of R20,000. For example, a home loan of R1 million would earn a R5,000 voucher. Takealot says the voucher can be used for furniture, appliances, and other home items, helping to “make their house a home.” The voucher will be emailed to the applicant within 30 days of the loan’s registration at the Deeds Office.
