Standard Bank records an increase in consumers using balloon payments in the last 5 years.
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GUEST - Thabani Ndwandwe, Chief Risk Officer Standard Bank South Africa
A third of Standard Bank’s customers looking to buy a car have opted to include the maximum balloon payment in the past 12 months as South Africans continue to struggle with affordability as a result of high interest rates. We interrogate what this means for the affordability of South African consumers.
A third of Standard Bank’s customers looking to buy a car have opted to include the maximum balloon payment in the past 12 months as South Africans continue to struggle with affordability as a result of high interest rates. We interrogate what this means for the affordability of South African consumers.