How to apply for the FNB Personal Loan?
Learn how to apply for an FNB Personal Loan and borrow up to R300 000 to repay within 60 months with no prepayment penalties.
Apply for an FNB Personal Loan: get up to R300 000 and repay within 60 months
If you need to cover an unplanned or planned situation, no matter what it is, learn how simple it is to apply for an FNB Personal Loan.
Before moving forward, check out the key points about this type of loan, though.
In the first place, it offers large amounts of up to R300 000. Also, it provides you with flexible repayments and terms of up to 60 months.
In the second place, you can access personalized and fixed rates depending on the term you assign for.
Moreover, you will be covered with Credit Insurance.
Lastly, there are no prepayment penalties, and if you keep your repayment plan in good standing throughout the year, you will get relief in January.
So, take a minute to look at how easy it is to apply for an FNB Personal Loan.
Online Application Process
Before proceeding with your application, you need to meet certain requirements, as follows:
- Be at least 18 years old;
- Be a permanent SA resident;
- Be employed or self-employed;
- Your salary needs to be paid into a bank account directly.
Also, some documents are required when you apply for a loan, including identification, proof of income, and proof of residence.
Then, you can apply through the official website by providing your personal details.
You will be redirected to another website
Application Process using the app
If you have an FNB ban account, then you can apply for a loan using the mobile app. Furthermore, you can call 087 730 5596 or contact your Private Advisor.
FNB Personal Loan vs. Absa Personal Loan
On the other hand, you can access a larger amount of money through Absa.
Even though both banks are reliable and offer great credit solutions, you can compare both right here!
To sum up, Absa Personal Loan offers up to R350 000 with terms of up to 84 months and personalized rates starting at 13,75%.
Additionally, you will be covered through Credit Protection.
Basically, both options are excellent. The differences are small, and you will definitely get great credit solutions with them.
So, in summary, it is up to your budget, needs, and goals!
|FNB Loans||Absa Personal Loan|
|APR||Short term: up to 5% per month (max)Long term: from 16.5% to 28.25% (based on the current prime rate)||Personalized (minimum 13,75%)|
|Loan Purpose||Personal (larger unplanned or planned expenses)||Personal (home improvement, medical expenses, and more)|
|Loan Amounts||Up to R300 000||Up to R350 000|
|Credit Needed||Not disclosed||Not disclosed|
|Terms||Up to 60 months||Up to 84 months|
|Origination Fee||Not disclosed||Not disclosed|
|Late Fee||Not disclosed||Not disclosed|
|Early Payoff Penalty||None||Not disclosed|
Then, find out how to apply for an Absa Personal Loan.
About the author / Aline Augusto
Reviewed by / Aline Barbosa
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