To be able to study is a wonderful experience but sometimes money is an issue. If you want to study, a study loan at one of the finest South African banks might help.
Nedbank Student Loans
Full time students
Full time students will need a person for signing surety. This person has sound financial status and is responsible for the repayment of the student loan interest while you are still studying. If a full time student wants to apply for a loan, you need to be supported by a surety.
As a full time student, the complete loan amount (interest and capital), must be paid when completing your studies. Arrange a repayment schedule with your bank to make sure that you can pay the loan in time. In the event of community service, articles, or an internship, a grace period will be given.
You will start paying back the loan and interest as soon as you receive it.
A flexible repayment plan can be arrange for post-graduate students. Please note that if a student does not complete their studies, both the interest and capital must be repaid immediately.
Another product for students is the Dezign Student Account for full time students, which allows you, access to a transactional account.
If you apply for a student loan at Standard Bank, you will also receive a transaction account if your student loan is approved. The loan can be used to pay for accommodation and tuition fees if you are not living at home. When accommodation fees are payed with the student’s loan, it is paid directly into bank account of the place of residence. Same applies to the tuition fees.
Money for books will be transferred to the transactional account. Keep in mind that a study loan is granted for a specific study year and you need to reapply each year.