What Are Student Loan Requirements At FNB?


Please share this article

Advertisement


FNB is one of four major banks in South Africa that offer student loans for those who need alternative ways to fund their tertiary education. The following provides a guide regarding the requirements needed to apply for an FNB student loan.

 

FNB bank offers a student loan amount from between R4 000 to R80 000. The individual student’s loan amount will vary depending on their circumstances for funding, but shall remain within this range. To be eligible for this loan option, the student must:

  • Be 18 years or older
  • Be able to produce a valid South African ID (or produce a study permit if they are an international student)
  • Be registered at a recognised tertiary institution in South Africa
  • Have a sponsor or surety that earns at least R6 000 per/month (The sponsor will be in charge of covering the loan applicant’s debt in the case that the applicant is unable to do so).

The loan option will be able to cover the student’s tuition fees, accommodation, and the student’s learning materials. The student would be required to reapply for the loan each year. 

The loan applicant should take note of the fact that the loan will need to be repaid with an interest rate catered to their financial circumstances.

Their personal interest rates would typically range between a minimum of 6.50% (prime less 0.5%) and a maximum of 11.50% (prime plus 4.5%) based on your credit/risk profile, as is stated on the FNB website.

When applying for the loan, FNB members will need to produce: 

  • A valid South African ID 
  • Sponsor’s valid ID
  • Proof of registration from their tertiary institution
  • 1 month’s bank statement from the loan applicant’s sponsor
  • A breakdown of the student’s fees. 
  • Recent utility bill

Whilst non-FNB members would require the same, in addition to:

  • A proof of address
  • 3 months’ bank statements required from the sponsor

FNB maintains that they offer flexible repayment policies and will cater to the loan applicant’s needs when compiling a loan package.

 

Suggested Article:

Lecturer congratulates students after FNB approves student loans

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.

 






Online Shopping Links

Takealot - Temu - Amazon - Shein




Advertisement


WhatsApp Channel

Sponsored Ad

Advertisement

Advertisement

Google News

Post-Matric Options

 

After completing your matric certificate exams, you are faced with a lot of post-matric options that can shape your future paths.

These options range from pursuing higher education at universities or colleges, entering vocational training programs, joining the workforce, or even starting your own business. There are so many choices but we are here to help.

Advertisement


Where to Study


Advertisement m


Other Articles

You can now apply at South West TVET College to study in 2024 for Trimester 3. South West Gauteng TVET College provides a valuable opportunity to gain practical skills and qualifications that can propel your career forward. 


Advertisement


Latest SASSA articles

The SRD grant serves as a vital support mechanism for financially vulnerable people living in South Africa. The agency responsible for paying the grant has revealed how beneficiaries can access their grant payment date. 

Conducting an SRD grant status check will let you know if and when you will receive an SRD grant payment. Here's how to check your Sassa status on the SRD grant.


Advertisement


Careers Advice

In the competitive landscape of today's job market, standing out from the crowd is more crucial than ever. Whether you're applying for your first job, aiming for a promotion, or seeking a career change, your personal statement can be the key that unlocks new opportunities. 


Advertisement i