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Product Guide: First National Bank - FNB

Quick Personal Loan Overview

  • Minimum Loan Amount: R1,000
  • Maximum Loan Amount: R150,000
  • Length of the Loan: 1 Months
  • Repayment Length of the Loan: 60 Months
  • APR: 32%

Quick Student Loan Overview

  • Minimum Loan Amount: R4,000
  • Maximum Loan Amount: R80,000
  • Length of the Loan: 12 Months
  • Repayment Length of the Loan: 12 Months
  • APR: 9,25%

A FNB Personal loan

As an existing customer, you could save on your monthly repayments when you switch your loans to FNB. Reduce the hassle of paying multiple credit providers and simplify your monthly repayments.

What does the Personal loan offer me?

  • A loan up to R150 000
  • Flexible repayment terms up to 60 months
  • A personalised interest rate

What this allows me to do:

  • Take a break from your payments in January*
    • * If you keep your loan account up to date you will automatically get a payment break every January.
  • Pay zero penalties when you settle your loan account early*
    • * FNB will not charge you any penalties if you settle your loan account early.

5 Benefits of the FNB Personal Loan (or what you’re paying for):

  1. Customer Protection Plan
  2. Flexible Repayment Period
  3. Switch your loan
  4. Quick Loan Payout
  5. Take a payment break

Your monthly instalments will also cover:

  • Capital Instalment
  • Initiation Fee
  • Service fee
  • Interest

FNB Requirements for a Personal Loan:

  • 18+ years.
  • A permanent resident of South Africa.
  • Permanently or self-employed.
  • Your salary is paid directly into your bank account.

A FNB Student Loan

A FNB Student Loan has ideal cover for your financial needs, giving students and parents (also referred to as the “principal debtor”) a sense of comfort in knowing that funds are available for further studies.

Whether you are a first-time student or looking to further your studies, getting a new qualification means that there is more on your mind. With FNB, you can focus on the exams, essays and modules while FNB balances the books.

What the Student Loan covers:

  • Tuition fees
  • Books
  • Campus Accommodation

Features and benefits include:

  • Service only the interest portion while the student completes their studies and start repaying interest plus capital up to 6 months after the student graduates.
  • Personalised interest rate
  • Access to loans from R4,000 to R80,000*

*A new application is required for each year of study and is subject to a credit and affordability assessment, which will determine what you qualify for. It is strongly recommended that you keep finance low to avoid the risk of not being able to secure finance for the entire duration of the student’s studies.

Make sure you’re covered!

The student and the principal debtor must be covered. Insurance cover is compulsory and you may take the FNB Customer Protection Plan, which covers you and the student in the event of death and permanent disability. Alternatively you may cede a suitable replacement policy if you wish to use your own insurance cover.

Qualifying criteria:

  • The principal debtor must be employed
  • The student must be registered with a South African Tertiary institution
  • The principal debtor should be able to afford the monthly repayments and earn a minimum income of R6 000 per month.

What documents do you need?

  • Copies of the principal debtor and student’s green bar-coded South African ID’s or Smart Cards
  • Latest payslip
  • Proof of residence
  • Proof of enrolment from the educational institution
  • If you do not bank with FNB, latest three months bank statements
  • If you are self-employed latest six months bank statements and last annual financial statements

The Customer Protection Plan

Life can be very unpredictable.

In the event of your death, dread disease, retrenchment, permanent or temporary disability, the Customer Protection Plan will ensure that you are taken care of. Alternatively you may cede a suitable replacement policy if you wish to use your own insurance. Credit insurance is mandatory if you are repaying your loan. Note that should you take a Student loan, both principal debtor and student will need to be covered.

The FNB Terms, Conditions and Rules apply.

FNB Roots – Some Background on FNB

FNB is the oldest bank in South Africa, and can be traced back to the Eastern Province Bank formed in Grahamstown in 1838. Today, FNB trades as a division of FirstRand Bank Limited.

When looking at FNB’s history, two things, in particular, stand out. The first is a story of survival – different circumstances in South Africa have posed many great challenges in the South African banking history, all of which FNB has successfully met. This track record provides a strong foundation for future challenges. The second is a story of people – the FNB history has always been firmly influenced by the needs of the people we serve.

The Acacia tree in the FNB brand logo is a suitable representation of its history. Their roots run deep in South Africa and have grown thanks to a commitment to serving the needs of their clients and communities.

A landmark development in FNB’s history took place in 1998 when the financial services interests of Rand Merchant Bank Holdings and Anglo American were merged to form FirstRand Limited. In the process, FNB was delisted from the JSE on 22 May 1998 to become a wholly-owned subsidiary of FirstRand, which was listed on the JSE on 25 May 1998. On 30 June 1999, the banking interests of FirstRand formally merged into a single entity to form FirstRand Bank. FNB, WesBank and RMB now trade as divisions of FirstRand Bank.


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