FNB understands the value that an educated individual can bring to the country and its future, and also understands that not everyone can afford to pay for a higher education.
FNB student loans start from as little as R4000 have been helping individuals reaching their goals and step into secure jobs which in return assisted in proving homes and security for families.
As students normally do not earn an income, and when the FNB student loan has been approved, only the interest portion of the student loan is immediately payable by debit order. Grace is normally also given when students have to complete internship and therefore down payment of the loan capital will only start after completion of the internship.
Do I qualify for a FNB student loan?
Both FNB and non FNB clients may apply for a FNB student loan and could win R20 000 with the FNB Beginning of the year campaign competition. Current FNB clients may benefit from a better interest rate compared to non FNB clients.
The parent, guardian or sponsor must be able to provide proof of income and must have worked for the same company for a considerable amount of time. According to the National Credit Act of 2005 affordability of the FNB student loan will need to be determined.
The same basic principles of a normal loan application applies which simply means that a background check on the credit score rating of the individual will be done, and which will influence the interest and approval of the loan.
What can I do with it ?
- Pay tuition fees directly to the University/educational institution
- Service only the interest portion whilst completing your studies and start repaying interest plus capital after graduation
- Consider your no obligations quote, which is valid for 10 days
- Receive a better interest rate if you bank with FNB
Where do I apply?
Applicants can visit their nearest FNB branch or apply online. For any telephonic enquiries individuals may call 0861 40 40 40 for assistance.
What does FNB need from me?
The student loan is opened in the name of the person who will ensure payment of the loan and for full time students this usually is a guardian or sponsor.
- For a FNB student loan applicants and their guardian or sponsor will need to bring along their ID books.
- A settlement quotation from the institution of study where the applicant will enroll.
- Proof of income.
- Last three months’ banking statements if not banking with FNB.
If the sponsor or guardian is married in community of property than the same documentation will be required of their spouse.
Because life is uncertain, life insurance on your FNB student loans is strongly recommended especially with unforeseen events such as disability, dread disease or death.
FNB offers a ten day no obligation quote will be provided for individuals who are unsure and who perhaps want to compare interest rates with other financial institutions. FNB has assisted millions of individuals in reaching their dreams because thousands of branches can be found across the country.
Interested individuals may seeking more information may click on the link below.
Value Added Services
Students will also automatically get a Life Start Account, which includes a student debit card with reduced bank charges and exciting banking services, as well as discounts on movies, airtime, air and bus tickets, CDs, gym membership, magazine subscriptions and computer games.
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