What is the FNB LifeStart Student Loan?

What is the FNB LifeStart Student Loan?

With FNB’s LifeStart Student Loan you will be able to enjoy competitive interest rates, as well as a six month grace period on capital repayments, while only paying off the interest during the period where your child completes his or her studies.

What does this loan offer?

  • Loans from R4000 per academic year.
  • ‘Interest only’ payments for the study duration of the LifeStart Student Loan.
  • A 6 month grace period on capital repayment is automatic after graduation.
  • Flexible repayment terms with 60 months to repay the capital, starting after the student completes the studies (all academic courses including internships).

A student loan can cover tuition fees, campus accommodation and books. It’s very helpful to have, as tuition can be very expensive and not everyone ha the funds to pay this out of their own. That’s why you should apply for a student loan from FNB today.

What is the qualifying criteria?

  • The principle debtor must be employed
  • The student must be registered with a South African Tertiary institution
  • The principle debtor should be able to afford the monthly repayments and earn a minimum income of R6 000 per month.

When applying, you need a copy of your South African ID, your latest payslip, proof of residence, proof of enrolment at the educational institution and your latest bank statements, if you are not banking with FNB.

The Student Loan allows you to invest in you or your child’s future with a tertiary education. This loan is suitable for financing further education for South African students and covers tuition fees, books and campus accommodation.

Categories: Student loans