Nedbank’s personal loans are designed to offer flexibility and affordability for South Africans. Loan amounts range from R2,000 to R400,000, with repayment terms stretching from 6 to 72 months. Interest rates are personalised based on your risk profile, typically falling between 10.5% and 28%. On top of this, you get R200 cashback every month if your repayments are from a Nedbank account, adding ongoing value.

The application process is simple. You can apply online by submitting an ID, bank statements, and payslip or proof of pension. Alternatively, request a callback from Nedbank or use their Money app or online banking to apply. Each pathway requires standard documentation to verify income and identity.

How to apply for a Nedbank Personal Loan

• Go online and complete the loan application form.
• Upload your ID, bank statements, and proof of income.
• Alternatively, request a call back, or use the Nedbank Money app.
• Choose your loan amount and preferred repayment term.
• Receive a quote, review the terms and confirm your application.

Pros of Nedbank Personal Loan

Nedbank offers transparent pricing, clear repayment terms, and a unique cashback incentive. Flexible options let you consolidate loans, potentially saving on monthly fees and interest.

The online loan calculator helps you assess affordability before you commit, and earning Greenbacks rewards makes paying on time even more rewarding.

Cons of Nedbank Personal Loan

The interest rate is determined by your risk profile, so some may not access the lowest advertised rates. Service fees and initiation charges add to the overall loan cost.

If you’re not a Nedbank account holder, you won’t qualify for the monthly R200 cashback, which could be a drawback for some borrowers seeking extra value.

Our verdict

If you want a personal loan with flexible terms, robust online tools, and the added benefit of monthly cashback, Nedbank is a compelling choice. Consider your unique needs and check your affordability before applying.