Nedbank is one of South Africa’s leading financial service providers, offering many services such as insurance, wholesale retail banking, wealth management, and asset management. The Nedbank Student loan offers funds to individuals, allowing them peace of mind knowing that their tertiary studies are covered.
The Nedbank Student Loan offers funding to both part-time and full-time students for qualifications of level NQF-5 or higher (any qualification after Matric/ NSC/ NVC) at a registered and recognised SAQA institution. Students are also offered the option of taking out credit life insurance on their Nedbank Student Loan, ensuring further financial security.
Full-time students who are still studying/ in an internship will require a sponsor/ surety (i.e. someone who will guarantee the loan will be re-paid) to pay the monthly instalments on their student loan. The student will then only be required to start repaying the loan amount once they have graduated from their studies.
Part-time students will not require a sponsor, however, they will need to be employed and make immediate monthly repayments on the loan amount and its interest rate.
The Nedbank Student Loan will cover the following tertiary-related expenses:
Nedbank offers both fixed and variable interest rates to students considering they are part-time and full-time students.
For full-time students, the interest on the Student Loan will relate to their academic performance. If full-time students achieve excellent grades, Nedbank rewards them with a lower interest rate on the loan.
Part-time students, however, will have a fixed interest rate which will be discussed with Nedbank during the initial application.
Nedbank’s Student Loans also offer a much lower interest rate than traditional loans, being prime plus 1% or 2%.
Step 1: Apply for the loan by downloading and completing the Nedbank Student Loan Application Form (.pdf). Drop it off at your nearest Nedbank branch, with your document (see list of documents required below)
Step 2: Once you have submitted your application, the Nedbank assessors will review your application as well as the relevant supporting documents
Step 3: If you have qualified for the offer, Nedbank will then approve your loan and transfer the money into the relevant account
Students interested in applying for a student loan through Nedbank, should read the following:
Terms and Conditions of the Nedbank Student Loan
Questions and Answers regarding the Nedbank Student Loan
How to Guides for the Nedbank Student Loan
Read our other tips and articles here:
Read our top tips on submitting your bursary application for the best chance of success.
Read our tips on how to write a bursary motivational letter here.
Read about how to prepare for a bursary interview here here.
Read about the various ways to get free education in South Africa.
Read about the National Benchmark Test (NBT) for University Entrance.
Are you following us on social media? We post our latest bursary opportunities and reminders of bursaries closing soon on Facebook, Twitter and Instagram.
This post was last updated in October 2022.
SA Bursaries wishes you the best of luck with your application! Please remember to SHARE this page with anyone you know who may be in need of bursary funding.
BURSARIES CLOSING SOON & TIPS/ ADVICE
Looking for a specific bursary? Search by your field of study here:
Bursaries for ALL fields of study, at Undergraduate and Postgraduate level, for the 2024 academic year.
