AVBOB does offer a loan. Its Borrow with AVBOB page advertises a personal loan for existing AVBOB Mutual Society members aged 18 to 65, listed at R100 to R8 000 and repayable within up to 180 days. Approval is subject to a credit and affordability assessment, and you need your latest payslip, three months’ bank statements and a copy of your ID.
Those terms were read from AVBOB’s official site through search-result text, because the page itself did not load for our check, so confirm the amounts, term and eligibility with AVBOB before you rely on them. AVBOB is also a funeral insurer, and this page covers both its loan and its funeral claims requirements.
Eligibility Requirements at a Glance
For the AVBOB loan, as listed on the Borrow with AVBOB page:
- You are an existing AVBOB Mutual Society member. How AVBOB defines a member (for example, whether a policyholder qualifies) is not stated in the information we could read, so ask AVBOB.
- You are between 18 and 65.
- Loans run from R100 to R8 000 and are repayable within up to 180 days.
- Initiation and monthly service fees plus interest apply. Get AVBOB’s current rates and fees in the quotation before you sign.
- Approval is subject to credit and affordability assessments, so applying does not guarantee a loan.
This is a separate personal loan. We found no official AVBOB statement on whether a funeral policy itself can be borrowed against, so ask AVBOB in writing if that is what you want to know.
Income and Affordability Requirements
AVBOB asks for your latest payslip and three months’ bank statements. That matches the rule: the National Credit Regulator (NCR) says affordability regulations require credit providers to verify your income before granting credit.
The provider looks at your gross income less tax, UIF, maintenance and your other payment obligations, and considers the debts shown by a registered credit bureau. A loan you cannot afford is a reckless credit agreement, which the Act prohibits.
Credit and Financial Requirements
The AVBOB loan is a credit agreement, so the National Credit Act applies. Under the NCR consumer guide to the Credit Act, you must be given a pre-agreement statement and a quotation before you sign, and the quotation must show the principal debt, interest rate, total payable, instalments and all fees and charges.
A registered credit provider must display an NCR registration certificate and decal, and the NCR keeps a register of registered credit providers. Check registration before you sign with any lender other than one you already know.
Be cautious of anyone who approaches you after a bereavement with a loan offer or a demand for an upfront fee.
Documents and Verification Required
For the loan, AVBOB lists your latest payslip, three months’ bank statements and a copy of your ID document.
For a natural-death funeral claim, AVBOB’s claimant’s declaration and discharge form lists:
- A certified computerised death certificate.
- The BI-1663 form (first page of the old form, or pages 1 to 3 of the new form), or the BI-1680 if the person died at home.
- The claimant’s declaration and discharge form. One must be completed for each beneficiary.
- Certified IDs of the deceased, the claimant and the beneficiary.
- A copy of a valid bank statement of the claimant or beneficiary.
- If the funeral is not conducted by AVBOB, a confirmation letter and tax invoice from the funeral parlour.
- For unnatural deaths, a declaration by SAPS.
How to Apply and Improve Approval Readiness
To borrow with AVBOB, start at the Borrow with AVBOB page and confirm the current terms. Follow the application process AVBOB sets out there, or ask AVBOB directly.
- Have your payslip, three months’ bank statements and ID ready before you apply.
- Ask for the quotation and read the initiation fee, monthly service fee and interest before you sign.
- Borrow only an amount you can repay within the term, because the affordability assessment is there to protect you.
- Never pay an upfront fee to obtain a loan.
For a claim, send the documents to the regional AVBOB claims email address or the nearest AVBOB funeral agency, as the claim form directs.
Frequently Asked Questions
Does AVBOB give loans?
Yes. AVBOB advertises a personal loan for existing members, listed at R100 to R8 000, repayable within up to 180 days, subject to credit and affordability checks. Confirm current terms with AVBOB.
How do I borrow with AVBOB?
Use the Borrow with AVBOB page. You will need your latest payslip, three months’ bank statements and ID. Who qualifies as a member, current fees and the interest rate should be confirmed with AVBOB.
Who can get an AVBOB loan?
Existing AVBOB Mutual Society members between 18 and 65 who pass AVBOB’s credit and affordability assessment.
Can I borrow against a funeral policy?
We found no official AVBOB statement on this. The AVBOB loan is a separate personal loan, not a policy loan. Ask AVBOB in writing about your specific policy.
What documents are needed for a funeral claim?
For a natural death: a certified death certificate, the BI-1663 or BI-1680 form, the claimant’s declaration and discharge form, certified IDs of the deceased, claimant and beneficiary, and a valid bank statement of the claimant or beneficiary. Other documents apply if AVBOB does not conduct the funeral or the death is unnatural.
Loan amounts, fees and claim requirements are set by AVBOB and can change. Confirm current details with AVBOB Mutual Assurance Society. See finance and funding requirements and browse all loan requirements.