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    FINANCE YOUR DIVE LIFE!

QUALIFY FOR A LOAN TODAY & START YOUR ADVENTURE TO AN UNDERWATER WONDERLAND!

APPLY NOW

 

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SCUBANK is an exciting, new provider of Scuba Finance in South Africa and we’re all about assisting new and fellow divers to explore the underwater world. Whether it be learning to dive, purchasing your own set of dive gear or venturing off on your next dive holiday, we want to make it an awesome and attainable experience!

 

Through our funding partner, YONDA powered by RainFin, we offer finance for SCUBAPRO diving equipment or SEALIFE Underwater Cameras. We will also finance a dive course or travel package through one of our Authorised Retailers, making it easier for you to embrace the awesome world of diving.

HOW IT WORKS

Let’s face the facts, banks don’t see your next dive holiday or awesome regulator set as an asset, however we love it, you love it and we want to make this work for you! Through a simple initial registration process, you can quickly and easily find out if you qualify for a loan, then, it's just a matter of following the steps to your next underwater adventure!

  • 1. REGISTER.

    Complete the form below to create a customer profile with our lending partner, YONDA.

  • 2. VIEW CREDIT REPORT.

    Continue with your application to receive your personal RainFin credit score & rating.

  • 3. APPLY FOR LOAN.

    Enter loan details, select your preferred loan terms and upload required supporting documents.

  • 4. SUCCESSFUL APPLICATION.

    If your application is successful, your loan will be added to the loan marketplace.

  • 5. RECEIVE LOAN OFFER.

    Receive loan offer and loan terms from RainFin & choose to either sign & accept or reject loan offered.

  • 6. IT’S YOURS!

    Loan amount is transferred to your Retailer in 48 hours. You’ll receive a notification email to go & collect!

Do I Qualify?

 
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FIND OUT IF YOU’RE ELIGIBLE TO APPLY BY STARTING THE NO COMMITMENT, PRE-APPLICATION PROCESS:









Store Finder.

GET IN TOUCH WITH AN AUTHORISED SCUBANK RETAILER

FOR FURTHER INFORMATION OR TO GRAB A QUOTE:

 

      FAQS

      Got a question? We've got it covered. If not, feel free to pop us an email or give us a call.

      What can I Finance?

      You can finance any SCUBAPRO or SEALIFE product, or even SCUBA dive courses & training or SCUBA dive travel packages from one of our Accredited Authorised Dealers or Retailers.

      How long can I finance for?

      It’s your decision. Choose what budget suits you best: 12, 24, 36 or 48 months.

      What is the minimum amount for financing?

      The minimum amount for financing is R8,000. Maximum amount for finance is R100,000.

      Who can apply for a loan?

      To be eligible to apply for a SCUBANK loan, you must meet the following criteria;

      • – South African citizen with a valid ID book/card
      • – Have a valid South African Bank Accounts
      • – Be between the ages of 21-70 years.

      Following your initial application, you will go through the normal application and scoring process for a loan & will need to supply the relevant income/expenditure documentation.

      Sounds like a great idea, how does it work?

      Let’s face the facts, the banks don’t see your next dive holiday or awesome regulator set as an asset, however we love it, you love it and we want to make this work for you. Essentially it’s a personal loan where we just offer a specific product at a better interest rate than most credit cards. We have offered SCUBANK to all our Authorised Retailers in the industry to make this service available to you, and affordable for you.

      Okay this looks good, how do I get the ball rolling?

      Spot the goods you want and get a quote from a SCUBANK Authorised Dealer or Retailer, or alternatively online from The Scuba Pro Store. To start & see if you qualify, it’s just a matter of completing the ‘Apply’ section on this website to start the process. Obviously there will be some paperwork that will need to be processed, but nothing you haven’t seen before.

      Who is Yonda powered by RainFin?

      SCUBANK has teamed up with YONDA, a bunch of people who love adventure, traveling and living the outdoor life. They are the guys who came up with South Africa’s leading bicycle finance option and combined with their years of outdoor and adventure experience have put all of this passion into a service for you. RainFin is their funding partner and South Africa’s premier Peer to Peer lending marketplace that connects Lenders directly with high-quality individual borrowers. Together, they remove traditional costs or barriers for borrowers and lenders through innovative technology, thereby creating a truly transparent and fair marketplace.

      Why finance your gear or holiday?

      Would you buy a new regulator or book flights for your next dive trip on your credit card? That’s finance right… We just offer Scuba specific products at a competitive interest rate and with repayment terms that are favourable to you.

      How much am I going to pay?

      You will go through the normal application and scoring process for a loan. Normally this means an angry interest rate, but being the cool people we are, we’ll do our best to make it affordable for you. Rates depend on your credit worthiness and also how the marketplace responds to your application. Typical loans range from 15-18%* (this is a mere guideline for an average consumer).

      Are there hidden costs?

      No, all costs are in our documentation and are regulated by the NCA (National Credit Act). Regardless of who you receive finance from, you will pay the same costs.

      What is a Peer to Peer marketplace?

      Borrowers create loan listings on the marketplace by supplying details about themselves and the loan that they require. The credit-worthiness of all borrowers is determined via a strict, credit vetting process which has the ability to draw on many information sources and not just the information provided by the traditional credit bureaus. Lenders can then search through the loans on the marketplace and select the ones they want to lend to based on the information supplied. The biggest advantage is that borrowers have access to multiple lenders who compete for loan portions, thereby driving interest rates down.

      Why borrow through SCUBANK?

      Our lending partner, YONDA powered by RainFin offers:

      • Competitive Rates – the marketplace offers borrowers access to a large number of lenders competing in loans, thereby driving interest rates down.

      • Affordable Finance – with low overheads, due to our technology platform and business model, we are significantly more affordable than traditional finance service providers.

      • Smart Technology – our unique scorecard looks at your overall financial health and future potential and not just your credit score.

      Are we registered credit providers?

      Yes, our lending partner YONDA is an Authorised Financial Services and Credit Provider: NCRCP5587

      RESPONSIBLE LENDING

      OUR COMMITMENT

      We are committed to lending in a responsible way, because quite simply, we feel this is the only fair way to lend. Treating customers fairly is at the heart of our business and this means designing products that give you value, understanding your needs, ensuring the way we do business with you is transparent and generally helping you to make informed choices.

      OUR RESPONSIBILITY

      Before a loan is approved, we like to be certain you can manage to repay it – meaning you’re always in control of your money.
      Deciding what’s best is a tricky business, so we look at many pieces of information and use a variety of techniques to help us make the right decision. That means things like Credit Scoring, monthly expenses, employment and most importantly if you can afford it.
      But it’s not just a case of putting a load of information into a computer, pressing a button and getting a ‘computer says yes’ or ‘computer says no’ decision – just as we have real people looking at your application, so we have real people using their judgement, experience and skill to make a genuine assessment of your ability to repay.
      If your loan is approved, you’ll always be provided with clear information at appropriate points to keep you fully informed. We don’t like to turn people away, so if your application is not approved, it will usually be because we are trying to protect your financial health or the lenders see it as too risky for them. And if we can’t help you, we’ll always tell you why.

      YOUR RESPONSIBILITY

      We love seeing people obtain the credit to better their lives and we are unapologetic about it. We’ve said that we will be responsible but you’ve obviously got responsibilities too. So, before you ask to borrow money, it’s worth thinking about your own circumstances;

      • – Can you afford to repay the borrowing?

      • – What happens if your lifestyle changes and you find yourself with less income or more costs?

      We’re not trying to put you off, but we both need to be happy – and we’d be irresponsible if we didn’t encourage you to think about it.
      And if we say no, it’s because we think it’s for the best – so while it might be tempting to try and borrow the money elsewhere, it might not be the right thing to do. Always bear in mind the potential risks and the long term damage it might do to your financial health.

       

      Get in Touch.

      CONTACT INFO:

      Kramerville, Sandton, 2148

      info@scubank.co.za

      (011) 444-6563

      www.scubank.co.za


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