Everything To Know About FNB Student Loans

The FNB student loan is available to customers who bank with FNB as well as customers who don't bank with FNB.

Advertisement

 

The FNB student loan is available to customers who bank with FNB as well as customers who don't bank with FNB.

You can get a loan from R4000 to R80 000 for each year of study, and only start repaying interest, fees, charges and capital once the student has completed their studies.

Who can apply?

This loan is open to all South African citizens with a valid South African ID.

  • Over 18 years of age
  • The principal debtor (the person responsible for paying the loan) must earn R6 000+ per month
  • The student must be registered with a South African tertiary institution

What does the FNB student loan cover?

  • Tuition fees
  • Textbooks and other study related costs
  • Equipment
  • Accommodation

What documents do you need to apply?

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 (not older than 3 months)
  • Your last three months’ payslips/bank statements
  • Proof of acceptance/registration from a tertiary institution 
  • If you are self-employed, you need to present your latest 6 months’ bank stamped statements and Personal Tax Assessment (ITA 34)

How can the loan be paid off?

The interest rate of the loan is dependent on the credit risk profile of the customer, therefore, repayment of the loan is dependent on the bank.

Repayment of the loan starts the following month after the loan has been paid out.

There is the Customer Protection Plan (CPP), which is provided by FNB. This is a form of credit life insurance which covers the student and the principle debtor in the event of death, disability and unemployment.

For more queries,contact 0861 40 40 40 or visit the FNB website 

 

 

Article Category


width="300"
height="600"
type="doubleclick"
layout="fixed"
data-slot="/4957315/Bursariesportal/2"
data-multi-size="300x600,320x480,300x250"
data-multi-size-validation="false"
>

NSFAS Articles

Once you have submitted your NSFAS application, you may have tracked your application status via your myNSFAS portal. Well, if you received a ‘Funding Eligibility’ status, here is what it means.

Students who have submitted their NSFAS bursary applications are reminded to check their application status regularly. Their application status may show ‘Application Submitted’, here is what it means.

Are you tracking your NSFAS application and notice that your application status says that it is on the ‘Filtering’ stage? Well, here is what it means.

When submitting your NSFAS application, you are required to attach certain documents to it in order for your application to be processed. Here is how you can submit your documents.

As soon as students submit their applications, they are able to view their application status. They may see that they are on the ‘Validation’ step, here is what it means.