Educational Loans

Without education, your children can never really meet the challenges they will face. So it’s very important to give children education and explain that they should play a role for their country. – Nelson Mandela

As your caring partner we want to enable our members to give their children an education and therefore a successful future. For this reason Iemas Financial Services now also offers educational loans for all levels of tuition – school, college and university, at an affordable and competitive interest rate!

Features & benefits of the GradUcare educational loan

  • Up to R80 000
  • Subject to approval, interest rate may vary from prime minus 1% to prime plus 3%*
  • Loan amount depends on individual affordability.
  • Repayment period of up to 24 months
  • Once off initiation fee and monthly administration fees in line with National Credit Act regulations
  • Credit insurance available to cover against death and disability
  • You receive an annual member benefit on the interest you pay.

*Subject to approval

Qualifying criteria

  • The principal debtor (Iemas member) must be employed at one of the participating employers
  • Loans only available for education at a South African school, college or tertiary institution
  • The member must be able to afford the monthly repayment as per the National Credit Act regulations. All applicants are thus subject to an affordability assessment
  • Please note that the principal debtor has to reapply for each year of registration as the GradUcare educational loan is only granted for a specific study period