Takealot Launches Home Loan Comparison Hub

SOUTH AFRICA

Takealot has expanded into financial services by allowing customers to apply for home loans through its online platform. Partnering with MortgageMarket, the retailer launched its Home Loan Hub where consumers can compare offers from multiple banks.

Shoppers start by completing one application on Takealot’s web app, according to BusinessTech. The system conducts a soft credit check for pre-approval, which doesn’t affect credit scores.

Users then see side-by-side loan offers from Absa, FNB, Investec, RMB, and Standard Bank among others. After selecting an offer, the chosen bank contacts them for finalization.

The service carries no fees or hidden costs. Applicants need their ID/passport, latest payslip, three months’ bank statements, and a signed Offer to Purchase. Documents are uploaded electronically in formats like .pdf or .jpeg.

Takealot incentivizes uptake by offering vouchers worth up to R20,000 upon successful bond registration. A company statement confirms the voucher value scales with loan amount but caps at R20,000.

Customers without property offers can still get pre-approval estimates through the platform.