Nedbank Student Loan South Africa
ABOUT THE NEDBANKÂ STUDY LOAN
The Nedbank student loan will cover tuition fees, textbooks, on campus accommodation and various other study-related equipment.
PAYING BACK THE STUDY LOAN
Nedbank offer flexible repayment terms and competitive interest rates on their study loans.
Once you start your studies, your sponsor (or yourself if you are a part-time student) will start paying the interest on your student loan.
A repayment grace period may be applicable if students partake in articles/ community service or internship programmes upon graduation.
ELIGIBILITY
Applicants must satisfy the following minimum entry criteria before applying:
- South African citizen
- Accepted to study (part-time or full-time) at a recognised tertiary institution
- Surety/ sponsor must have a Nedbank transactional bank account
- Surety/ sponsor must have a good financial standing/ credit record
HOW TO APPLY
Applications must be done at your nearest Nedbank branch. Those who are studying full-time and have a sponsor, must apply in person with their sponsor.
You will be required to submit the following supporting documentation with your application:
| DOCUMENT | FULL-TIME STUDENT | PART-TIME STUDENT | SURETY/ SPONSOR |
|---|---|---|---|
| Identify Document (plus a certified copy) | YES | YES | YES |
| Marital status declaration | YES | YES | YES |
| Latest academic record/ Matric results | YES | YES | NO |
| Proof of study expenses (tuition, accommodation, books etc) – Invoice/ Statement | YES | YES | NO |
| Proof of tertiary registraion or acceptance | YES | YES | NO |
| Proof of life insurance cover | YES | YES | NO |
| Proof of residence (FICA) | YES | YES | YES |
| Cohabitation form from Nedbank branch | YES | YES | NO |
| 3 months latest bank statements (non Nedbank clients only) | NO | YES | YES |
| Latest payslip | NO | YES | YES |
| Income and Expenses statement | NO | YES | YES |