With an FNB Student Loan, you can get the loan amount you desire with ease you can borrow from a minimum of R4000 up to a maximum of R360 000 each academic year, which means you can only borrow a loan once a year.
All students come from different households and not everyone has money saved up for College or University expenses, if you want to further your studies but don’t have enough money to pay the required fees from the Higher Education Institute you are interested in, whether it’s registration, tuition, textbooks, residence (res) fees or other needed study material for that course you will be studying (i.e. if you choose Computer related course you will need a laptop or desktop computer to study most of your subjects)
The repayment term for every loan amount you borrow is up to 12 months. If you are interested in borrowing the FNB Student Loan, make sure to avoid taking money that you will struggle to repay because you might need a loan the following year. Also, don’t borrow more money than what’s required by the course.
FNB Student Loan Eligibility Criteria
To qualify for the FNB Student Loan, the applicant must meet the following eligibility criteria. The person applying for the loan can be a parent, guardian, sponsor, or a student applying for themselves. If the student is applying for themselves, they must be employed full-time and studying part-time.
- Must be a South African resident
- 18 years or older
- Must be employed or self-employed
- Earning a minimum salary of R3000
- Registered with an SAQA-accredited institute
Documents Required On The Application Process
Whether you bank with FNB or not the following are the documents needed when applying for the FNB Student Loan.
- South African ID card or document
- Recent 3 months Proof of residence (If not banking with FNB)
- Proof of Income (required if not banking with FNB):
- Recent Stamped 3 months bank statement (recent stamped 6 months bank statement will be needed if self-employed and ITA34 form)
- Recent 3 months payslip
- Proof that you are registered and enrolled in a higher education institute
FNB Student Loan Application Process
When you meet the eligibility criteria and have the required documents you can apply for the First National Bank (FNB) Student Loan online on the FNB website, you can at your nearest FNB branch, apply on the FNB Banking App, apply at a call centre on: 087 736 4800, or apply on the helpdesk on: 087 730 5596
When you’ve applied for the loan it will only take FNB about a day (24 hours) to process your application and if you are approved your money will be paid immediately.
Here are the benefits of the student loan offered by FNB
- Flexible Repayment Terms
- Personalized Interest Rates
- Borrow up to R360 000
- Credit Insurance
- No early settlement penalties
- Easy application process (especially if you are banking FNB, only two documents will be required)
Contact Details
if you want to enquire more about the FNB Student Loan you can use the following details
- Cell: 087 335 8630
- Email: info@fnb.co.za
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