Nedbank Personal Loan
Whatever your need – making the seemingly impossible possible, paying an unexpected medical bill, doing home repairs or improvements, furthering your or a family member’s education, purchasing a second-hand car, repairing appliances or even consolidating multiple loans – a personal loan can be a stepping stone to better your life.
You can have peace of mind that we will offer you the right loan amount at a great interest rate customized to your financial need, ensuring that you maintain a good credit record.
Personal Loan features and benefits
- Loans available from R2 000 to R250 000*
- Flexible repayment periods from 6 up to 72 months.
- Monthly repayments debited from your bank account.
- The best possible interest rate that we can offer you.
- Easy online loan application process.
- If your loan is approved, we will deposit the money directly into your bank account.
- When you take out a personal loan, it is compulsory to have loan protection cover for death, disability and retrenchment. Nedbank Personal Loan Protection Insurance has been specially developed to help pay off your outstanding debt should you be unable to make your loan repayments in the event of your death, disablement or retrenchment. Or you can take out an insurance policy of your choice provided it has all the necessary benefits. Ask about our loan insurance when you apply for your loan.
- Representative example: Loan amount of R50 000 borrowed over 60 months.
Annual maximum interest rate: 27.5%
Initiation fee: R1 207.50
Monthly admin fee: R69
Max APR: 32.21%
Total amount payable: R101 177
Please click on the personal loan calculator link below to calculate your specific loan requirements.
How to apply
- you must be permanently employed or employed under a fixed term contract (not self-employed);
- you must earn a net salary of at least R3 500 a month, with a minimum basic salary of R3 500 a month; and
- your salary must be deposited into your bank account electronically.
What you need to apply?
- Your valid barcoded South African identity document or smart card ID.
- Your most recent payslip(s) for one month or your letter of employment if you are a contract worker.
- Your stamped bank statements for the last 3 months (reflecting your salary). If you bank with Nedbank, ABSA or Standard Bank, we will be able to arrange this on your behalf.
- Your proof of residence (not older than three months), such as a utility bill or any statement of account that has your name and physical address on it.*
*All loan applications are subject to final credit approval and terms and conditions, including certain income source criteria.
Visit our online personal loan application to get started.
Nedbank 135 Rivonia Road Sandown Sandton 2196 South Africa