Are you a student struggling to pay your school fees in South Africa? First National Bank, as a solution for you, is offering an FNB student loan to help you with your studies.
The loan is meant for students who bank with FNB and those who are not FNB customers.
The loan will cater for your education expenses from school to other related expenses like housing and food.
The interest rate is personalized based on your credit or risk profile.
It is the bank that evaluates to determine the interest rate.
You can apply for an amount between R4000 to R80 000 for each year of your studies.
The bank allows you to complete the studies then start repaying the loan.
According to the Customer protection plan, the loan is insured in case of disability, death, and unemployment.
The bank will not disturb your family or you.
Don’t stay at home due to lack of fees; an FNB student loan will help you complete your studies.
There are flexible repayment options.
However, I would like to share several things with you, such as who can apply for this loan and how you can apply for the loan.
Who can apply for an FNB student loan In South Africa?
For your request to apply for an FNB loan to be accepted, you have to meet the following qualification criteria:
1. Have a valid South African ID.
2. Foreigners need to have a study permit.
3. Be 18 years old and above.
4. The person responsible for paying the loan must be earning R6 000+ per month.
5. The student must be studying in a registered tertiary institution within South Africa territory.
What documents do you need to apply for the loan?
If you meet the above qualification criteria, you also need to have the following documents when applying for the loan:
For FNB customers:
- Valid South African ID/Smart card
- Proof of acceptance/registration from a tertiary institution
For non-FNB customers:
- Valid South African ID/Smart card
- Proof of residence: the documents must not be older than three months.
- Your last three months’ payslips/bank statements
- Proof of acceptance/registration from a tertiary institution
For the self-employed application, the bank requires you to present your latest six months’ bank stamped statements and Personal Tax Assessment (ITA 34)
How to apply for an FNB student loan
If you have met the qualification and have the above documents, you can apply for the loan either through one of these ways:
- Apply at your nearest FNB branch·
- Call FNB customer care, who will explain how to apply for the loan 087 335 8630.
- Also, you can send them an email indicating your intention to apply for an FNB student loan.
That is all you need to know about FNB Student Loans in South Africa.