FNB Student Loan

• Student loans up to R80,000
• Low-interest starting from 6.5%
• Repayment up to 7 years

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Securing a student loan with First National Bank is quick and easy

In order to apply for a loan with FNB, you must be over 18 and have proof of acceptance at a South African tertiary education institution.

You must also provide a copy of your ID and that of your sponsor, proof of residence, 3 months bank statements and a payslip or 6 months bank statements for the self-employed.

Pay interest only while studying

While studying you will only be required to make repayments in the form of interest. For full-time students, this is usually done by a parent or family member who is also the sponsor or guarantor for the student loan.

Once you’ve graduated you will then be expected to begin making monthly repayments on the principal loan amount.

Applying for your student loan

You will need to submit a new application each year for your studies and each year they will evaluate your affordability before they can make a decision. Their affordability and credit checks help them work out how much you qualify for, therefore it’s highly important that you are responsible with your finances in order to help your chances of securing the finance you need for your studies. Their student loan is available to both FNB customers and non-FNB customers.

They're quick

Once you have submitted, it will usually take 24 hours or less to process your loan application provided that all the required supporting documents have been sent timeously. If your application is successful, the money will be paid out as quickly as possible.

Interest rates personalised to your needs

Everyone's different- therefore their loans should reflect that. As a result, their interest rates are personalised to every customer's unique situation, therefore guaranteeing that the loan they offer you will be the best possible loan that you can get for your circumstances.

Make additional payments without penalty

If you can afford to make additional payments towards your loan or to even pay it off early, go ahead! They won't charge any penalty fees.

First National Bank is a trusted & reliable provider of student loans

In our review, First National Bank adheres to the compliance criteria in accordance with the National Credit Act, where the granting the loan will not cause financial distress to the consumer.

✅ First National Bank is a registered credit provider in South Africa: NCRCP16