By the end of 2001, the number of registered banks totalled 43, in South Africa. It’s evident that the banking sector has become increasingly competitive. Smaller financial intermediaries are in direct competition with larger financial institutions such as leading major bank First National Bank.
FNB has however managed to stay a step ahead with a range of technological advancements which have enhanced the banking experience for its clients. One such product is the FNB Temporary Loan. Designed to meet the short-term obligations of clients, the loan is a fast, easy and convenient solution. Available to clients with active FNB cheque accounts and Smart accounts, the temporary loan facility is available via FNB ATMs, cellphone banking or by simply logging into online banking. The money is credited to the client’s account instantly if he/she qualifies.
A valid South African I.D. or passport is required for application. Applicants also need to provide one months’ payslip if they are paid monthly or two for fortnightly or four for weekly paid individuals.
3 months’ bank statements are required for non-FNB customers and proof of employment for 6 months. Individuals considered must be between the ages of 18 and 63 years, with a bank account that has been active for at least 3 months. If you have more than R750 left after paying your monthly bills, you may qualify. Clients are given the benefit of not having to pay interest on the loan, if the total loan or outstanding balance is repaid within 31 days.
For smart loan solutions, visit FNB’s website: www.fnb.co.za