FNB Student Loans are provided by First National Bank, which is renowned for providing convenient, innovative and cutting edge services. FNB recognises the sacrifices many people make in order to further their education. With FNB Student Loans, individuals are assured of access to finance to help them meet their educational goals.
What do you get from FNB Student Loans?
Loans are provided from a minimum of R4000 to a maximum of R80 000. These loans are offered at competitive and flexible rates. Repayments are dependent on an individual applicant’s risk profile. Whether you need a smaller loan to cover the balance of your study fees or for the full course, FNB Student Loans are tailored to suit your needs.
The loans can be used to cover books, tuition fees as well as campus accommodation. FNB simplifies the process by making payments to the tertiary institution on the student’s behalf. Loans are valid for each year of study, so the student needs to re-apply each year.
Students pay one portion of the interest on the loan while they are studying and pay the full interest plus the capital after graduation.
What are the qualifying criteria?
- You must be studying towards a 3-year degree or diploma
- The principle debtor must earn a minimum salary of R6000 per month
- You must have a valid South African I.D.
- Proof of residence must be provided for loans of above R15 000
- You must provide your latest 3 months’ bank statements
- If you have a sponsor, he/she must provide 6 months’ payslips as proof of employment and proof of affordability
All FNB Student Loans include compulsory insurance cover. This is to settle the loan in the event of unfortunate circumstances such as death, retrenchment, critical illness or even permanent disability.
To find out more about how you can benefit from FNB Student Loans, call FNB here: 0861 40 40 40.
You can also visit their website here: www.fnb.co.za