How to apply for your FNB Personal Loan

leticia
setembro 12, 2023

We know that in many moments, the situation can get tight, and we need help to resolve our financial matters. That’s why FNB has the perfect solution for you. It offers the possibility of obtaining up to R360,000 in a matter of minutes.

So, to learn more about FNB personal loans, just read this entire article and stay informed about everything it has to offer you.

FNB Personal Loan

Known as FNB, First National Bank is a South African bank that offers a range of services, including personal loans. This way, it caters to your needs in whatever way you desire, whether you need money for a trip, home renovation, or even to catch up on your bills.

But it’s important to remember that submitting your application doesn’t guarantee that your credit will be approved. You will undergo a credit evaluation to determine whether you’ll be approved or not. However, since it’s a personal loan, you won’t need to provide collateral, making it a way for you to financially organize yourself.

How does FNB’s personal loan work?

What are the fees charged?

When it comes to loans, we already know that there will be fees to pay, as there is always an interest component when repaying what has been borrowed, and this becomes one of the factors that influence our choice of a particular company. Knowing the percentage of interest when applying for a loan is crucial.

With that, we’re here to tell you the rate charged by FNB when applying for your loan, and the truth is that it will depend on how much you borrow and how many installments you choose to pay, but it will not exceed 18% per annum.

What are the repayment terms for FNB personal loans?

As mentioned earlier, the repayment terms for your loan vary depending on the amount requested and the number of installments you choose to pay. However, it doesn’t mean it has to be cumbersome to manage. You have the option to repay your loan in a single payment or up to 60 installments, depending solely on your needs.

Furthermore, FNB offers you the opportunity not to make payments in the month of January. How does that work? With the ‘Take-A-Break in January’ option, individuals who have chosen to repay the loan over a period of more than 6 months have the chance to skip payments in the month of January if they have been consistently making their payments on time.

Advantages

Customized personal loans of up to R360,000.
Payment flexibility, with the option to skip January payments.
Low interest rates compared to other personal loans.
Fixed installment amounts with no changes.
100% online application process.

Disadvantages

To be approved, you need to have a good credit profile.
Possibility of fees if the contract is terminated

How to apply for an FNB personal loan?

What are the prerequisites for applying for the loan?

To request anything in the financial sector, there are prerequisites, and here we will list the necessary prerequisites for you to apply for your loan.

You need to be a South African citizen or a permanent resident of the country.
Be over 18 years old.
Have proof of income.
Have an active bank account in your name.
Not have a negative credit history or credit restrictions.

Apply through the website

To apply for the loan, it’s very simple. You can do everything directly on their website by accessing this link. You will be taken to a page with more information about the loan, and from there, you can also be redirected to the page where you can make the request.

Once you are redirected, you will need to fill out some information and provide some details about yourself so that your credit assessment can be conducted to determine if you will be approved or not.

If you are unsure whether you need a personal loan or not, here are some situations where requesting a personal loan can be beneficial: