On 12 January 2010, Nedbank launched the Lusiba Education Assistance Programme Campaign which is an educational loan designed for Nedbank clients that are salaried through the bank. Officially launching the campaign was the bank’s Managing Director, Ambrose Dlamini.

“Education is one of the keys to success and remains the cornerstone of a bright future for all our children yet it is expensive and unaffordable to many parents. This product provides a solution to parents and students studying at recognized educational institutions”, Dlamini said.

This educational loan does not only cater for lower primary or high school fees but for tertiary education as well. The minimum loan is E1000.00 and maximum E15 000.00 payable over 12 months to allow our clients to take up another loan in the subsequent year. However, depending on affordability, clients can take up to 35% of their gross salary. Because Nedbank understands the urgency of the funds to have your child registered at your preferred school, we have geared up our teams to ensure that acceptable turnaround time not exceeding 36 hours from loan application.

As an added advantage, Nedbank has also provided for fabulous prizes for clients that will take up loans over this period of the campaign that is from January to end of March 2010. This time around draws will be conducted fortnightly by branch thus increasing the probability of winning for our clients in their respective branches. There are 10 prizes allocated for each branch draw every two weeks. At the end of the campaign there will be a final bank-wide draw that will pool all clients that will have taken up loans from the beginning of the campaign including those that will win in the branch draws.

Prizes include 30 Student Accounts with a deposit of E200.00 each, 30 school bags and pairs of school shoes.

Over and above these prizes, each branch will donate school uniforms, exercise books, pens and pencil sets to various schools that have used Nedbank as part of their school fees collection during this period. This will enable the school to assist take care and provide educational facilities to some of the under privileged and destitute children within their various schools.