How Easy and Affordable Is It to Apply For a Nedbank Personal Loan?

A Personal loan is an easy and affordable way to better your life. In this article we are going to look at how true this statement is when it comes to applying for a Nedbank personal loan.

How much can you apply for? Loans are available from R2 000 up to R300 000.

Just because they offer up to R300 000 does not mean everyone will automatically qualify for this amount. The amount each individual qualifies for will be determined by the needs of the individual and their credit profile.

Affordability will also be taken into consideration as Nedbank will not approve a loan that you cannot afford.

Representative example:

Loan amount of R50 000 borrowed over 60 months.
Annual maximum interest rate: 29.25%
Initiation fee: R1 207.50
Monthly admin fee: R69
Max APR: 34.05%
Monthly instalment amount: R1 923.47
Total amount payable: R115 408.20

What Makes a Nedbank Personal Loan Easy and Affordable?

Repayment terms are flexible from 6 months up to 72 months. This allows you to choose terms that will suit your budget. This makes the loan affordable.

With Nedbank being a responsible lender and doing thorough credit checks they will only approve an amount you will be comfortable to repay.

Debits order payments make life easier. At Nedbank they make your life easier by setting up debit order for your loan repayments.

As a client your individual circumstances are taken into consideration. From this they will structure an interest rate specifically for you. Personalised interest rate will make the loan affordable.

Once application is approved funds will be deposited directly into your bank account.

Application for a Nedbank personal loan is done online in an easy to follow process. Online application which is our favourite application method makes life easier. It means you don’t have to worry about face-to-face interviews or having to visit a branch to apply for a loan.

During application you will benefit from transparency. With operations of banks regulated in South Africa and they have certain expectations to meet.

Is there anything else you need to know? Yes you need to be aware that it is compulsory to take a credit protection plan. This is beneficial since it will settle anything outstanding on your loan in the event of permanent disability or death.

For other benefits you can read the article Nedbank Personal Loan benefits.

What Is Needed To Apply?

• Nedbank needs the basic documents that are usually needed by most credit providers in South Africa.
• They will need you to be at least 18 years of age and submit your ID.
• You 3 months bank statements which are stamped will be required.
• Proof of residence which is not older than 3 months.
• You need to be permanently employed.
• Applicants for a Nedbank personal loan need to earn at least R3 500 per month.

In conclusion, we can see that it is really easy and affordable to apply for a personal loan from Nedbank.

Nedbank Contact Details

For more information you can visit their website www.nedbank.co.za or call them on 0860 103 582.

Physical address:

135 Rivonia Road,
Sandown,
Sandton, 2196,
South Africa