Nedbank South Africa Student Loan 2023/2024, View Information on How to Apply: For students who want to pursue their academic goals but lack the necessary funding, Nedbank offers student loans. Students can review the Nedbank South Africa Student Loan information below.
Nedbank South Africa Student Loan 2023/2024
How to Apply for Nedbank South Africa Student Loan
To apply for your Nedbank Student Loan, you and your guarantor must bring the documents mentioned below to your nearest Nedbank branch.
What is Required from your Guarantor:
- A Nedbank transactional account, as their main account. (If they don’t have one, we can help them to open an account quickly and easily.)
- SA identity document or ID card.
- Proof of current residential address (for FICA purposes)
- Marital status declaration
- Latest pay slip
- Three months bank statement (if non-Nedbank client)
- An income and expenditure statement
Needed Documents from You:
- Your latest exam results
- Proof of registration at a SAQA-accredited tertiary institution.
- An invoice or statement for university fees, textbooks, and accommodation. (for campus or university accredited accommodation only).
- Letter of necessity for any study-related equipment.
- Co-habitation form obtained from a branch (for FICA purposes).
- An Unlocked. Me Student Account (This, as well as a student loan account, will be opened after your student loan application has been approved).
What does the Nedbank Student Loan Features and benefits?
- A great interest rate with flexible repayment options.
- If I’m a fulltime student, or still busy with an internship or articles, my guarantor only pays back the interest on my loan.
- To only start paying back my loan once my studies are complete.
- Optional competitive credit life cover in the case of death or disablement.
Parttime students need to make both interest and capital repayments while studying. While you’re a fulltime student, you’ll need someone (a guarantor) to help pay your monthly interest.
Student Loan Application Tips 2022/2023
Please note: A new application is required for each year of study and is subject to a credit and affordability assessment.
For second and subsequent years of study, proof of the previous years’ academic results is required to ensure the student has been permitted to continue his/her studies.
Fulltime students must be supported by a guarantor when applying for a Nedbank Student Loan.
The guarantor will be responsible for interest repayments during the course of the studies.
The capital and interest on your loan must still be repaid in equal monthly installments even if you don’t finish your education.