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Nedbank Personal Loan
Borrow from R2,000 to R400,000. Enjoy low, tailored interest rates, flexible repayment up to 72 months, and R200 monthly cashback for Nedbank account holders.
Nedbank’s Personal Loan is an attractive option for South Africans needing from R2,000 to R400,000 fast. With a variable interest rate starting around 10.5% and going up to 29.25%, this product offers repayment terms from 6 to 72 months—flexible enough for a wide range of needs. The standout benefit is a R200 monthly cashback if your repayments are made from a Nedbank MiGoals Plus or Premium Account. Additionally, there are no hidden fees, and the application process is straightforward, whether you opt for online, mobile, or in-person banking.
How to Apply for a Nedbank Personal Loan
- Determine your loan amount and repayment term using Nedbank’s calculator
- Gather documents such as your ID, latest bank statements, and a payslip
- Choose your preferred channel: online application form, Money app, or branch visit
- Complete the application and upload your documents or provide them in person
- Review and accept the loan offer if approved, then receive funds directly in your account
Advantages of Nedbank’s Offer
The personal, tailored interest rates make Nedbank’s loan versatile for different financial profiles. Repayment flexibility caters to those wanting either quick settlements or longer periods to manage cash flow.
The stand-out benefit is the R200 cashback per month for Nedbank account holders, effectively reducing your cost of borrowing—and rewards those who manage repayments well.
Potential Drawbacks to Consider
Interest rates are risk-based. If your credit profile isn’t strong, you may get a higher rate near the maximum APR.
Additionally, full loan details are only finalised after the application, so estimated calculations might not exactly match your final offer.
Our Verdict
Nedbank’s Personal Loan suits many South Africans needing funds with transparent rates, flexible terms, and tangible monthly cashback for qualifying clients. The product stands out for responsible borrowers who value cost transparency and loyalty rewards. It’s a solid choice, especially for existing Nedbank clients, but always use the loan calculators and examine your offer closely before taking the next step.