Nedbank Personal Loans and Rates

Nedbank offers personal loans at the right amount and at the most preferred interest rates. The easy to manage loans allow you to have peace of mind while maintaining a good credit standing.

Features of Nedbank Personal Loans

  • Flexible repayment terms ranging from 1 to 5 years
  • Available loans from R1,000 to R250,000
  • Easy application process
  • Monthly repayments through auto-debits from your bank account
  • Direct deposit of loan proceeds to your bank account upon loan approval.

Representative Loan Example

For a R50,000 payable over 5 years:

  • Annual interest rate maximum at 27.75%
  • Initiation fee is R1,197
  • Maximum APR is 32.44%
  • Monthly admin fee is R68.40
  • Total amount payable is R101,613

How to Apply for a Nedbank Personal Loan

To apply for a loan with Nedbank, you must meet the following criteria:

  • You must be employed permanently or under a contract with a fixed term (not self-employed.
  • You must have a monthly net salary of R3,000 or more, with a basic minimum salary of R3,000.
  • Your monthly salary must be electronically deposited to your bank account.

Documentary Requirements for Loan Application

  • Valid barcoded South African smart card ID or identity document.
  • Most recent 1 month payslips or a letter of employment in case of contract workers
  • Last 3 months’ stamped bank statements that reflect borrower’s salary. Nedbank will arrange it for you if you are an existing client of Nedbank, Standard Bank, or ABSA.
  • Proof of residence that is not more than 3 months old like a utility bill or a statement of account bearing your name and address.

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