Like all loan offers, there are always a set of criteria that the loan applicant will have to meet to be considered for the loan. These requirements set out to measure the applicant’s eligibility for the loan by measuring their financial circumstances as well as their ability to repay the loan with interest.
The minimum entry criteria for a Nedbank loan are as follows:
- Applicant must be a South African citizen
- Applicant must have been accepted to a recognised tertiary institution
- Surety must have a Nedbank transactional account
- Surety must have a good credit record
The following will need to be attached in accompaniment with the applicant’s Nedbank student loan application:
- Student’s latest exam results
- Proof of registration at a tertiary institution recognised by the South African Qualifications Authority (SAQA)
- An invoice for university fees, textbooks and university-accredited or campus accommodation
- A Nedbank Unlocked.Me account
The guarantor or surety who would be left in charge of repaying the loan will need the following:
- A Nedbank transactional account as their main account
- A valid South African ID
- Their latest payslip
- Three months’ bank statement if they don’t bank with Nedbank
To learn more about this loan option and to access the application form, click here.
