Nedbank’s Personal Loan offer stands out for its flexibility, low interest rates, and extra rewards. You can apply for amounts between R2,000 and R400,000, with repayment periods stretching from 6 to 72 months. Interest rates are personalised, starting at 10.5% and can reach up to 28% based on your credit profile. What’s more, you get R200 cashback each month if you repay from a Nedbank MiGoals Plus or Premium Account.

How to Apply: Step by Step

• Complete the online application form and upload your documents.
• Request a call-back if you prefer phone assistance.
• Use the Nedbank Money app or online banking for a seamless process.
• Get a quick loan affordability estimate using Nedbank’s calculators.
• Submit the required documents like your ID, payslips, and bank statements.

Key Advantages

The R200 cashback reward every month is a strong incentive and can help offset banking costs. Nedbank’s approach to personalised interest rates ensures you are charged fairly, and their transparent fee structure means no surprises.

Additionally, the use of loan calculators on their website allows you to check affordability prior to applying, letting you make better financial decisions without commitments.

Potential Drawbacks

Interest rates can reach up to 28%, which might be on the high side for those with less favourable credit histories. Only payments from Nedbank MiGoals Plus or Premium accounts qualify for monthly cashback, which limits the benefit for non-Nedbank clients.

Our Verdict

Nedbank Personal Loans are a solid choice for those seeking flexibility and rewards. The monthly cashback is a great perk, and the fair, tailored rates ensure affordability for responsible borrowers.