Sometimes life throws you a financial curveball and there’s no way around it, in that case you might need help from an FNB Personal Loan. With things getting more expensive, and jobs in a state of flux, more people have found themselves in this situation.

You can apply for personal loans from a number of banks without having to set foot at any of the branches. First National Bank (FNB) has an online portal through which you can apply for your loan from the comfort of your couch.

We’ve looked into FNB personal loans and dug up some handy information. Up next, we’re going to tell you all about the features the loan has and the costs that you need to be aware of. You’ll also find out how to apply and the type of information you’ll need.

Benefits of an FNB Personal Loan

One of the main benefits of getting a personal loan with FNB is the break you get. Yes, you get a break on your repayment term every January.

That’s quite a major advantage on other banks since January is one of the months that people are struggling with finances after the holidays. Other benefits are up next.

Loan Amount

When you’re taking up a loan, the first thing you want to be sure of is the amount you are getting. With FNB, you can get from R1000 to the highest which is around R300, 000.

That’s an amount that you can use from settling your emergencies to even set up your wedding.

Customer Protection Plan

You don’t have to worry about insurance for the loan when you take a loan with FNB. That’s in the case of any eventuality that may occur. The bank’s got you covered as you are covered by the bank’s credit insurance.

Fees and Rates

The interest rates for this loan start as low as 12.75%. With a number of banks, you have to pay fees such as initiation fees, and even as far as early payment fees. You, however, don’t get such fees when you are applying for a personal loan with FNB.

However, if you are choosing to switch your credit to the FNB loan from a previous provider, you’ll have one monthly fee, one reduced monthly repayment, and one personalised interest rate. These fees will be made known to you once you consult a representative or apply; they are not listed by FNB online.

Once your application is cleared, you get the money that you had applied for stress-free.

Consolidate Your Credit

The idea of having all your debts in one basket is appealing to anyone. Especially if you have the basket that gives you enough time to pay off your debts. That’s exactly what you get when you apply for a loan with FNB.

You get the ability to bring all your other debts into the FNB personal loan basket and pay them off in up to 60 months.

Flexible Repayment

How about having up to 60 months to be able to pay off your loan? That’s ample time to be able to pay up your loan especially since this is a personal loan.

Personal Interest

One thing that makes it all the more interesting about taking up a loan with FNB is that you get a personalized interest rate. The rate does, however, start from as low as 13% and depends on your credit score. The higher your score, the better the interest rate you get from the bank.

How to Apply for a Personal Loan with FNB

You have to meet the personal loan qualifying criteria before you can get approved for a loan with FNB. The criteria include being at least18 years old and not older than 65 years old at the date of the maturity of the loan.

You then have to be a permanent resident of South Africa and be employed or self-employed.

The other criteria that you have to meet are that your salary has to be deposited straight into your FNB account. You, of course, need to prove all these by providing relevant documents to support the same. You can find the list of documents on the FNB website.

To apply you can visit the FNB website and locate the loans menu and then select personal loans. You’ll be guided from there on, on how to apply. You can use this link to jump to the application form.

How to Contact FNB

Telephone: 1-844-BANKFNB (1-844-226-5362).

Head Office: Simmonds St, Johannesburg, 2001, South Africa.

Conclusion

You can apply for an FNB personal loan from your home today. With large amounts allocated and easy repayment terms, this just might be the solution you’ve been looking for to take a little load off your shoulders and get your financial situation in order. 

Note: There are risks involved when applying for and using loans. Consult the bank’s terms and conditions for more information.