FNB Personal Loan

1. FNB Personal Loan terms
2. Requirements
3. How to apply and get an FNB Personal Loan
4. Repaying an FNB Personal Loan
5. Other FNB Personal Loan conditions

FNB Personal Loan is an unsecured loan from First National Bank, a division of FirstRand Bank Limited. It offers personalised fixed-rate credit of up to R450,000 with fixed monthly repayments and terms of up to 72 months. Existing and new FNB customers can apply, including permanently employed and self-employed South African residents.

FNB Personal Loan terms

• Loan amount: from R1,000 up to R450,000
• Repayment term: up to 72 months
• Interest: personalised fixed rate
• Short-term loans: up to 5% per month for terms of 1–6 months
• Long-term loans: currently 15.15%–28.00% p.a.
• Monthly service fee: R69
• Initiation fee: up to R1,207.50 where applicable
• Early settlement fee: none
• Credit life insurance: compulsory for qualifying longer-term loans.

The final amount, rate and repayment are determined after FNB assesses the applicant's credit profile and affordability.

Requirements

To apply for an FNB Personal Loan, the applicant must:

• be at least 18 years old;
• be a permanent South African resident;
• be permanently employed or self-employed;
• receive income directly into a bank account;
• have a valid South African green bar-coded ID or Smart ID.

For non-FNB customers, FNB may require:

• proof of residence not older than three months;
• latest three months' payslips or three months' bank statements;
• an ITA34 or bank statements for a self-employed applicant.

Existing FNB customers with stable income paid into their FNB account for at least three months may not need to submit documents if their information is current.

How to apply and get an FNB Personal Loan

Applications can be made through:

• the FNB App;
• Cellphone Banking by dialling 120321#;
• an FNB branch;
• a Private Advisor;
• the Personal Loans line on 087 730 5596.

FNB assesses the application and affordability before presenting a credit offer. A DebiCheck mandate must be accepted before the loan can be paid out. If the required documentation has been received and DebiCheck accepted, the loan may be paid out on the same day.

Repaying an FNB Personal Loan

Monthly repayments are fixed for the agreed loan term. Customers can also pay extra into the loan account to reduce the outstanding balance and potentially settle the loan sooner.

Payments can be made by:

• monthly debit order;
• electronic transfer through the FNB App;
• Online Banking;
• Cellphone Banking;
• scheduled transfer;
• FNB ATM;
• deposit at an FNB branch.

Extra payments can be made without an early-settlement penalty.

Other FNB Personal Loan conditions

Early repayment. The loan can be settled early without a penalty. A current settlement amount can be obtained through the FNB App, Online Banking, Secure Chat, a Private Advisor or the Personal Loans Service Call Centre.

Take-A-Break. Eligible personal loans that are up to date can receive a repayment break in January. The benefit applies to qualifying longer-term accounts paid by debit order or EFT. Customers can choose to make the January payment instead and reduce their balance faster.

Credit life insurance. FNB's Customer Protection Plan can cover qualifying events including death, disability, unemployment and inability to earn an income. A suitable external credit-life policy can be ceded instead, subject to FNB's requirements.

Missed payments. Keeping enough money available for the debit order is important because missed repayments can lead to additional interest and affect the borrower's credit record.