Nedbank

Nedbank

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Get your studies to get along unimpeded with the Nedbank student loan.

About – Nedbank

The bank gives out student loans to the vast number of applicants, ranging from Further Education Training Colleges FETs to University students.

The Nedbank student loans are the best alternative of educational finance in South Africa as these are issued with low costs on sufficient and reliable amounts. The student loans at Nedbank will see your fees and other related expenditures covered, making sure that you have ample time to concentrate on your studies.

With our student loans, you will realise the best of educational finance services in South Africa, and this is part of our packages to develop South Africa.

WHAT DO NEDBANK STUDENT LOANS COVER?

The Nedbank student loans are the best way to escape disturbances that may be triggered by the need for funding during your tertiary studies. The Nedbank student loans will cover the student with fees, food, books, transport, accommodation and other related expenditure as your institution requires.

The Nedbank student loans make sure that there is little to nothing that is left for the student to fork out money. The loan comes with an optional credit insurance cover, the insurance will shield the student and or the guarantor in case of permanent disability or death occurs.

HOW MUCH DO NEDBANK STUDENT LOANS COVER?

We can say the monetary value of the Nedbank student loans is very high, and as it does not only include the funding provide but also advises and other services that the bank offers to the students.

The Nedbank student loans will cover the full monetary value of the educational requirements, as shown on institutional invoices or proof of costs.

The loans will cover variable amounts as several colleges and universities do have variable costs on their courses, whether the applicant is from the University of Cape Town, North-west or Venda University, we will have them covered on their full requirements as long as they qualify for the loan.

CAN NON-NEDBANK CLIENTS OBTAIN STUDENT LOANS WITH NEDBANK?

Unfortunately, the Nedbank student loans are only available to clients who do standard banking services with the bank.

The Nedbank student loans applicants should hold a student account and or a current account with the bank to qualify for the loan.

The applicants’ guarantors will also need to be a banking client with the bank. All the requirements will be checked during the assessment, and when the accounts do not exist, the application will be dismissed.

DOES NEDBANK PROVIDE LOANS TO FOREIGN STUDENTS?

The Nedbank is one of the largest banking and financial institutions in Africa, and so our customer base goes beyond South Africa, this is why we are glad to be one of the few providers of educational finance who cover international students in South Africa.

The international students who apply for the student loans should also have a bank account with the bank in addition to having a guarantor who has an account.

Thus, at Nedbank, we give you the best of financial services.

HOW IS THE NEDBANK STUDENT LOAN REPAID??

The bank makes it easy for both students and guarantors to make repayments for the loan. The repayment can be arranged in two ways, when the loan applicant is a guardian who has regular income, the loan can be paid during the course of the study.

When the applicant is a student who have no regular income, the guarantor is supposed to make repayments for the interest on the loan and the repayment for the principal amount will be done by the student after the course of the studies.

At all times, Nedbank will make relevant efforts as to empower the student to be able to make relevant loan obligations.

WHAT ARE THE NEDBANK STUDENT LOAN REQUIREMENTS?

The bank requires its applicants to be South African residents or international students who are learning on a full time basis in South Africa.

The conditions are that the applicant and the guarantor should have bank accounts with Nedbank before attempting a Nedbank student loan application. The guarantor should be working and getting paid regular salaries that are received through the bank account.

Also, both the student and the guarantor should have good credit scores before making applications. 

The following documents are required during the application

Requirements

  • South African identity document
  • Proof of residential address that is not older than three months
  • Three months’ stamped bank statement
  • An income and expenditure statement
  • Latest pay slip from the current employer

The following documents will also be required for the purposes of authenticating the student’s status with the college or university

  • The latest examination result slip
  • Proof of registration or identity at a SAQA registered institution
  • A statement of fees or an invoice for the costs that need funding

HOW TO APPLY FOR NEDBANK STUDENT LOANS?

Our student loans can be applied at one of our branches or online through your online banking account.

Applicants will just need to submit their requirements together with the relevant documents to our credit team. As soon as the loan is approved, applicants will be scheduled for a meeting on which they will need to bring their documents.

With that, you will have the best of educational funding in South Africa.

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