Rating based on 54 reviews

Student Loans offered by First National Bank

Updated

  • Low-interest starting from 6.5%
  • Student Loans up to R80,000
  • Repayment up to 7 years

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First National Bank homepage

Author First National Bank. Screenshot of First National Bank website. [Accessed April 30, 2018]

About First National Bank

First National Bank is the most innovative, functional and efficient bank in South Africa.

We have the country's most comprehensive and unique range of financial management, banking and lending products from personal loans to property loans and business finance solutions for small to large companies.

Giving and making a difference

One of the aspects of our business that we cherish and value most is our ability to give back to the people and communities that we work so hard to serve.

We do this through a range of social investment programmes and initiatives that do everything from increasing access to basic sanitation to supporting local business owners who deserve more than just a foot in the door.

What First National Bank can offer you

We offer student loans from R4,000 to R80,000 with highly flexible repayment structures which mould to suit your financial needs and study goals.

Our student loans will cover study fees, books and on-campus accommodation for full-time students.

Other products and services from FNB

We offer personal loans from R1,000 to R150,000 with low-interest rates and flexible repayment terms of up to 60 months.

We offer home loans for first time home buyers, property investors, those looking to build their own home and foreign nationals.

First National Bank Product Details

  • Loan Type Student Loans
  • Interest Rate from 6.5%
  • Loan Amount up to R80,000
  • Repayment 160 days to 7 years

Securing a student loan with First National Bank is quick and easy

In order to apply for a loan with FNB, you must be over 18 and have proof of acceptance at a South African tertiary education institution.

You must also provide a copy of your ID and that of your sponsor, proof of residence, 3 months bank statements and a payslip or 6 months bank statements for the self-employed.

Pay interest only while studying

While studying you will only be required to make repayments in the form of interest. For full-time students, this is usually done by a parent or family member who is also the sponsor or guarantor for the student loan.

Once you’ve graduated you will then be expected to begin making monthly repayments on the principal loan amount.

Applying for your student loan

You will need to submit a new application each year for your studies and each year we will evaluate your affordability before we can make a decision. Our affordability and credit checks help us work out how much you qualify for, therefore it’s highly important that you are responsible with your finances in order to help your chances of securing the finance you need for your studies. Our student loan is available to both FNB customers and non-FNB customers.

We're quick

Once you have submitted, it will usually take 24 hours or less to process your loan application provided that all the required supporting documents have been sent timeously. If your application is successful, the money will be paid out as quickly as possible.

Interest rates personalised to your needs

Everyone's different- therefore our loans should reflect that. As a result, our interest rates are personalised to every customer's unique situation, therefore guaranteeing that the loan we offer you will be the best possible loan that you can get for your circumstances.

Make additional payments without penalty

If you can afford to make additional payments towards your loan or to even pay it off early, go ahead! We won't charge any penalty fees.

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First National Bank is a trusted & reliable provider of student loans

In our review, First National Bank adheres to the compliance criteria in accordance with NCA regulations, where the granting the loan will not cause financial distress to the consumer.

First National Bank is a registered credit provider in South Africa: NCRCP16

Customer Reviews & Testimonials

January 2019

The service was just so professional; I was really impressed with how quickly I was assisted

Ethan W
— Port Elizabeth —

April 2019

FNB has a lot of compassion for its customers. I needed a better understanding of FNB's student loan and the consultant I spoke to was extremely helpful. It was very nice speaking to someone so w...

Jonas N
— Cape Town —

First National Bank Contact Details

Physical Address

  • 13, Thebe Hoskins House, 4 Breda St & Mill Street Cape Town Gardens 8001 South Africa
  • Get Directions

Opening Hours

  • Monday 09:00 – 17:00
  • Tuesday 09:00 – 17:00
  • Wednesday 09:00 – 17:00
  • Thursday 09:00 – 17:00
  • Friday 09:00 – 17:00
  • Saturday 08:30 – 13:00
  • Sunday – Closed