Nedbank Personal Loans deliver attractive value with loan amounts starting at R2,000 and going up to R400,000. Terms can stretch up to 84 months, and the interest rate is personalised with a minimum from 10.5% to a maximum of 29.25%, based on your credit profile. There are no hidden fees, and you have the option to consolidate your debts into a single monthly payment. A standout benefit is the R200 cashback each month when your loan repayment is set up from a Nedbank MiGoals Plus or Premium Account.

How to Apply: Step by Step

1. Apply online by filling in a quick form with your details and upload required documents like ID, proof of income, and bank statements.
2. Alternatively, request a callback from Nedbank for personalised assistance and guidance throughout your application.
3. If you use Nedbank’s Money app or Online Banking, you can apply directly via the platform for convenience and even access pre-approved offers.

Main Advantages

One major advantage is the monthly R200 cashback, which helps reduce your cost of borrowing if you bank with Nedbank and pay from your account.

The repayment terms are highly flexible, accommodating various needs and budgets, and there’s a user-friendly calculator to assess your affordability before you commit.

A Few Downsides

Interest rates are tailored, meaning applicants with less-than-perfect credit may pay a higher rate, potentially up to 29.25% per year.

Initiation and service fees do apply, and insurance may be optionally added, so you need to factor these into your total repayment cost.

Final Verdict

Nedbank Personal Loans stand out for their transparency, flexible terms, and appealing cashback rewards. If you’re a Nedbank client, the offer is especially worthwhile.

Non-clients can still benefit, but are encouraged to evaluate the full cost and consider consolidating debts to maximise savings—ensuring the best fit for your financial goals.