FNB Personal Loan is a loan facility targeted at individuals above the age of 18 with a regular income. The interest rate is personalised, starting at 12.75%. The maximum loan amount is R300000.00.
The FNB personal loan is one of the easiest to apply for in South Africa. If you are an FNB client you can apply for personal loan using internet banking or mobile app. Pre-approval takes minutes.
FNB has some of the most sought after Personal Loans in South Africa. And if you are in need of Business loans it has that facility as well. However, in the interim we will dive deep into FNB’s personal loan offering.
FNB has integrated a reliable software to access its clients affordability. Answering a few questions on the FNB mobile app you will know how much money you qualify for.
For those that don’t bank with FNB, knowing how much you can qualify for is easy. You can use the personal loan calculator to check how much you qualify for. Otherwise, you can apply for a pre-approval to know the loan you qualify for.
Pre-approval doesn’t mean that you will get the stated loan amount. Same as using affordability Calculator doesn’t mean that you qualify for the loan amount shown.
These methods do not use your credit score/report and do not have any impact on your credit profile.
You need to do a few things before you can apply for a personal loan from FNB. Knowing what to do before your application will increase your approval chances. Whether as a FNB client or non-FNB client there are ways that you can use.
Make sure that you have analysed your credit report. You can access your credit score at Transunion. Transunion offers a free credit report once a year so make use of it. Having your credit report will help you fix your credit score. You will get tips on how to fix your credit score so you can use these to better your score.
If you are an FNB client you can use an FNB tool called ‘my overall credit status’. This tool will help you get your credit profile from FNB. It will show you, your track record, time with FNB, credit trend, etc.
Using this service will help you better your chances of getting a personal loan.
Knowing how much you want to borrow will help you in calculating your loan repayments. We recommend you use our monthly repayment Personal Loan Calculator this will help you in drawing up your budget.
If you have overstated the loan that you need you can then make adjustments. Your adjustments can be limiting some of your expenses to shoulder your loan instalments.
FNB personal loan has personalized interest rates.
Prepare the necessary documents required for the FNB personal loan application. Make sure that they are in order and relevant for your application. If you don’t have the necessary documents, then get them.
Get a pre-approval from FNB for a personal loan. Your pre-approval will determine how much you qualify for.
Knowing how much you qualify for will ease a burden of multiple applications. If you know the amount you qualify for you can apply for it at once. This will save you time and resources.
To qualify for a personal loan you will need to have the following :
FNB personal loan doesn’t have any qualifying minimum salary. Any one who earns an income can apply.
This loan is for short and medium term financing. Payment period is optional and is subject to your affordability.
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