The introduction of a home loan offering means that Discovery Bank now offers clients the full banking spectrum, from transactional accounts to credit offerings and asset-backed finance.
Kallner said the shared-value approach could see the Discovery Bank base of more than 900,000 clients saving up to R2.8-billion in interest repayments on their loans. “Internal data for the six months indicate Gauteng as the leading province when it comes to collective buying, closely followed by the Western Cape. Interestingly, while collective buying is popular in the affordable housing market, there is also a lot of uptake from affluent customers and families buying holiday houses and financing semigration homes,” he said.
“SA Home Loans has been in the market for a long time, they have the know-how, the processes and the capability. They also offer the same service for several other banks. It just makes sense financially,” Kallner said.