We offer the following types of personal loans:
- Premier Loan from E15 000 - E100 000
- Micro Loan from E 5 000 - E15 000
- Lusiba Education Assistance Programme (LEAP) from E 1 000 - E15 000
You do not need to have security in order to have access to these personal loans.
The Nedbank Premier Loan
This loan provides for major financial commitments as it offers the highest loan amounts in the personal loan product range as one is able to access loan amounts from E15,001 to E100 000. The repayment term is flexible in that you are able to select a repayment term that suits you; 24 or 36 months.
The Nedbank Micro Loan
The Nedbank Micro Loan allows you to access loan amounts up to E15 000 with you can repay in 36 months. You can choose to have your repayment done via deduction from your employer or by stop order. Your employment and transfer of your salary into your Nedbank account is security enough for you to access the loan.
The Lusiba Education Assistance Programme (LEAP)
As the name suggests, Nedbank is committed to the educational development of its clients and their loved ones through education. This loan product is tailor-made to enable parents/guardians to pay for their children's studies at schools and tertiary institutions. The loan amount is up to E15 000 which is repayable over a 12-months period, to allow you another opportunity to qualify for a fresh loan in the subsequent year. The loan is designed to cover expenses such as tuition, registration fees, books, board and residence and any special equipment required for a course e.g. a computer.
Conditions to consider on all loans applications
- In order for us to partner with you, you must be in permanent employment and be part of the Nedbank family with a valid Nedbank account reflecting at least three salary payments.
- Loans will only be granted to individuals, not to joint names or other entities
§ During the term of the loan, you must be under insurance cover which provides cover against death and disability. You enjoy valuable peace of mind knowing that you will be able to meet your credit obligations in the instance one can no longer work as the result of death or disability. It is therefore a requirement that a credit life policy must be taken to cover the client during the term of the loan. If you already have an existing one, it is acceptable. Credit life such as Level Term with SRIC; Credit Life with both SRIC and Fingroup can be arranged through Nedbank. This insurance is affordable, your banker will be able to quote you on the premium per E1000 borrowed
We have made it easy for you to apply
We have gone to great lengths to keep the application process simple and removed all superfluous requirements, making the loan application process to be as efficient as possible.
Ensure you have the relevant documents
If you still haven’t opened your account with Nedbank yet you are interested in applying for a loan, you will need:
· A copy of your valid National Identity Document
· Proof of residence
We charge fair interest rates on all our loans. Visit your nearest Nedbank branch and make things happen
