BE WARNED OF BANKS – BUTHELEZI
MEMBERS of Parliament (MPs) are warned of banks that might want to make a killing at the expense of the unsuspecting legislators.
This was said by House of Assembly Deputy Speaker Phila Buthelezi yesterday. He said some banks would come knocking on their doors, wanting to give them car loans, which they could get in a short space of time. He warned them that with other banks, they could find themselves having to pay up the
loans even after their five-year duration in Parliament. He said he found himself in such a problem with a certain local bank, which he did not want to mention. “Just when I thought I was about to finish my instalment of my car, I was told that I owed E30 000. I am now forced to repay the loan until next
year,” Buthelezi said. He further said such banks would be the ones that approach the MPs and call them regularly and endlessly. MPs are provided an opportunity by government to get a car loan of up to E828 000. This loan is subsidised by government, which pays only the interest of the loan.