First National Bank – The life start student loan is an innovative product from South African banking giants First National Bank (FNB). The life start student loan is tailor-made to finance clients higher and further education and meet fees and books expenses.
This unique product offers students amounts of up to R4000 at competitive rates and it offers students flexibility as they can apply for it every year when they need it. The monthly repayment amount for this loan is based on a clients risk profile and the term of the loan. This facility allows students to pay tuition fees directly to the university or education institution they are studying with. This loan facility entails that the beneficiary only pays the interest portion while completing the studies and then interest plus capital is paid after graduation.
The FNB life start student loan provided added values such as no minimum balance requirement, access to the account anywhere and at anytime, free cellphone, telephone and online banking subscription, balance alert which allows one to know how much cash is available and cash withdraws can also be done at an ATM.
To qualify for this noble credit platform, the students parent or sponsor must be permanently or self-employed, the sponsor should have worked for the same employer or in the same industry for a significant period of time and should be able to afford the monthly repayments.
FNB student loan contact details: Clients can apply for the FNB life start student loan online or simply call 086 1404 040.