Discovery Secured Credit: find the investments you can pledge without cashing them out

Eligible investments back your credit; falling values can cut or cancel it. Your entire single credit facility is excluded from Vitality Money points calculations.

Discovery Bank Secured Credit

PrimeFlex and Core Flexible Investment qualify as security for Discovery Secured Credit. Retirement, post-retirement, offshore and tax-free investments do not.

What pledging your investments requires and how you regain access to them

You must own investments not ceded to a third party. Discovery Bank assesses their nature and value for approval. Use the credit for personal expenses only.

Selected investments are ceded in full. You regain access only after repaying all secured facility balances and requesting release of the cession.

DOWNLOAD THE SECURED CREDIT FORM

The interest and fees you pay on secured credit

Interest follows Black and Purple Suite unsecured credit rates, including Dynamic Interest Rates. Your contracted rate is given when you apply; prime or package changes can change it.

Discovery Bank charges R950 for documentation and R50 monthly to your card, both VAT-inclusive. Account, banking, and applicable credit and initiation fees are extra.

The investment and account requirements you must meet

Your pledged investments need a minimum loan-to-value ratio of 50%.

  • You are 18 or older with a Black or Purple Suite.
  • You own investments you agree to cede.
  • Your eligible Discovery Invest holdings total at least R500 000.
  • You have no secured credit agreement with Discovery Bank.

Complete and physically sign your application

  1. Enter your name, ID or passport and investment IDs.
  2. Declare monthly income and expenses; print it.
  3. Sign in black or blue ink.
  4. Email your scanned form to credit@discovery.bank.

FAQ

Do I need my spouse’s consent to apply for Discovery Secured Credit?

If married in community of property, you need your spouse’s written consent, witnessed by two adults, before taking credit.

Do Endowment and Discovery Retirement Optimiser Endowment versions 1 to 4 qualify?

These and Standalone qualify from five years, or sooner without partial withdrawals. Guaranteed Income Plan needs at least five years.

What happens to my pledged investments if I default?

The bank may enforce the cession agreement. It may add default administration charges and actual collection costs within legal limits.

How soon can I access my approved secured credit limit?

After approval, physically sign and return the cession with all completed documents. The bank loads your limit within 72 hours.

DOWNLOAD YOUR APPLICATION