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FNB Personal Loan full review: personalized credit with personalized rates

If you need to cover an unplanned or planned expense, this FNB Personal Loan review may be helpful for you. Check out how to access a large amount with flexible terms.

FNB Personal Loan: up to R300 000 with flexible terms

Read our FNB Personal Loan review. Source: The Mister Finance.
Read our FNB Personal Loan review. Source: The Mister Finance.

You can get personalized and fixed interest rates on large amounts of money, as you can see on this FNB Personal Loan review. 

FNB Personal Loan

How to apply for the FNB Personal Loan?

See how to apply for an FNB Personal Loan and borrow up to R300 000 with terms of up to 60 months, fixed rates, and no prepayment penalties.

But, some points must be addressed before you proceed with an application.

Then, follow through with this article to learn more about this credit solution.

APRShort term: up to 5% per month (max);Long term: from 16.5% to 28.25% (based on the current prime rate)
Loan PurposePersonal (larger unplanned or planned expenses)
Loan AmountsUp to R300 000
Credit NeededNot disclosed
TermsUp to 60 months
Origination FeeNot disclosed
Late FeeNot disclosed
Early Payoff PenaltyNone

Certainly, a personal loan on those conditions may help you cover whatever you need. But you must be attentive to the costs associated with it. Then, take a look at how it works!

How does the FNB Personal Loan work?

First National Bank, or FNB, offers a whole range of reliable financial products and services, as you probably already know.

One of those products is the personal loan.

Basically, FNB offers loans with personalized and fixed rates that start at only 16.5% for the long term (1 to 60 months) and a maximum of 5% in case of short term (1 to 6 months).

Also, the amounts are good enough to cover a large expense, whether planned or unplanned personal reasons.

Although fees cannot be accessed before the application, FNB doesn’t charge penalties in case you want to settle your loan earlier than predicted. 

Additionally, you will be covered with Credit Insurance, and every January, you will be released from paying the monthly installment if you keep your repayment in good standing.

Lastly, check out an example if you want to estimate a loan. Supposing you get an R30 000 loan to repay in up to 24 months at an annual rate of 18%, the estimated monthly repayment would be R1 796, including all fees.

FNB Personal Loan benefits

Get extra money with an FNB Personal Loan. Source: The Mister Finance.
Get extra money with an FNB Personal Loan. Source: The Mister Finance.

As shown before in this FNB Personal Loan review, if you need to cover an unplanned or planned expense but don’t want to rely on expensive loans, FNB offers good deals with flexible repayment and affordable and fixed rates.

Moreover, you will be covered with Credit Insurance, and there is no penalty for early repayment.

Pros

  • It offers large amounts of up to R300 000;
  • It lets you repay for up to 60 months;
  • It doesn’t charge early payoff penalties;
  • Rates are competitive, personalized, and fixed;
  • You will be covered with Credit Insurance;
  • There is a relief in January if you keep your repayment in good standing throughout the year. 

Cons

  • FNB doesn’t disclose all fees associated with a loan.

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How good does your credit score need to be?

A healthy credit score is always recommended if you want to apply for a personal loan. However, FNB doesn’t really disclose this information.

Probably, fair credit is considered. But, it is important to know that your credit might be affected in the application process.

How to apply for an FNB Personal Loan?

If you need a large amount of money to cover an expense, then learn how to apply for an FNB Personal Loan and access competitive rates and flexible terms.

FNB Personal Loan

How to apply for the FNB Personal Loan?

See how to apply for an FNB Personal Loan and borrow up to R300 000 with terms of up to 60 months, fixed rates, and no prepayment penalties.

About the author  /  Aline Augusto

My name is Aline Mesquita; I'm a writer here on the blog, where I write about finance in general and other subjects. I have been working with content creation for ten years. Also, I'm post-graduated in Project Management, with expertise in SEO practices. Currently, I am studying finance, market trends, and cryptocurrencies.

Reviewed by  /  Aline Barbosa

Senior Editor

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