How Do FNB Student Loan Repayments Work?


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If you need funding for your studies, FNB has student loans of up to R300 000 to help fund your studies. It is important to understand how the financial institution’s repayments work.

 


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The FNB student loan can be used for tuition fees, accommodation, equipment, other study material, and devices needed for the student.

For a 12-month period, you pay only interest and fees and start repaying interest, fees, charges, and capital from the 13th month onwards.

According to the bank, the interest rate ranges from a minimum of 6.75% up to a maximum of 11.47% based on your credit profile.

Loan recipients are able to pay only interest and fees for a 12-month period and then start repaying interest, fees, charges, and capital thereafter.

As life can be very unpredictable, the bank has credit life insurance that is compulsory for its student loans. This insurance covers both the guarantor and student in the event of death, temporary and permanent disability, retrenchment, or inability to earn income. 

FNB permits the debtor to use their own credit life insurance policy. For further details on this student loan, click here.

 

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As a financial institution, FNB provides personal, private, business, commercial and corporate banking services to millions of customers across South Africa. Here is how you can simply register for FNB online banking.






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Post-Matric Options

 

We helped you with past papers for your matric exams, so hopefully you are happy with your Matric results. So now you are faced with a lot of post-matric options that can shape your future paths. You might want to study law, teaching, or nursing. Of course studying is expensive so we have helpful advice about student loans, NSFAS bursaries, Fundi loans, ISFAP, and lots of other funding options.

These options range from pursuing higher education at universities , TVET Colleges or  private colleges, finding student accommodation, entering vocational training programs (like Learnerships and internships), joining the workforce, or even starting your own business. There are so many choices but we are here to help.

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