NED Bank Loans Review (Africa)

NED Bank Loans Review (Africa)

NED Bank Loans allows you to borrow the amount you need when you need financing for your upcoming expenses.

NED Bank Loans Review

There are different types of loans specifically designed for various purposes such as:

  • Personal Loans (Debt Consolidation, Home Improvement and Used Car Loans)
  • Home Loans
  • Vehicle Loans
  • Student Loans

NED Bank Personal Loans Review

If you need to borrow a large amount of money for your unexpected expenses you can prefer this type of loan. It is possible for home repairs and improvements, education or medical expenses and also even for purchasing a used car. Personal Loans can also be used for consolidating your multiple debts.

NED Bank is willing to finance with reasonable terms and rates as long as you have a good credit record. You can borrow from R2,000 up to R250,000 to repay between from 6 up to 72 months. After an easy online loan application in South Africa, if you found eligible, the money will be deposited directly into your bank account.

For example, if you apply for a loan amount of R50,000 to repay within 60 months, you will be charged 27.50% annual maximum interest rate, R1,207.50 Initiation fee and R69 monthly admin fee.

Review for Home Loans NED Bank

When you need financing to purchase your dream house, NED Bank allows you to borrow the full loan amount of the property. Purchase price (max. R780,000) with competitive interest rates.

You can not only save on the R6,037 initiation fee (if you earn R24,3000 or less) but also have a chance to get 50% discount on the attorney bond registration fee.

Moreover, if you need to receive a loan for improving your home or buying furniture, at accredited stores, you can purchase goods from R2,000 up to R250,000. Repayment period from 6 up to 72 months to pay and you do not have to put down a deposit.

Vehicle Loans Review

As long as you meet the eligibility criteria:

  • Being 18 years old or older,
  • Having a valid SA driver’s license,
  • Having a good credit history,
  • Earning at least R6,500 per month,
  • Being a South African citizen or permanent resident,

you can apply for a vehicle loan to purchase your dream car.

You will be charged a dissed or a linked interest rate and have to complete your repayments within min. 24 months and max. 72 months. You will also be given an option of Balon payment (if structured into your loan agreement) and early-settlement.

As you fully repaid your installments, you will have the possession of your car. Also, If you want to buy a second-hand car (up to 20 years old), you can apply for a personal loan which allows you to borrow from R40,000 up to R250,000 to repay within 6 to 72 month without putting down a deposit.

Application Process

  • Must be employed. (Permanently or under a fixed-term contract)
  • You must have a stable and sufficient income (at least R3,500 per month)
  • Should submit necessary documentation including.
  • Your valid SA identity document or smart card ID
  • Your recent payslip (for one month)
  • Recent bank statements (last 3 months, reflecting your salary)
  • Proof of residence (i.e. utility bill)