If you are looking for a debt consolidation loan, you can take out a loan from FNB and save. With an FNB debt consolidation loan you can save on your monthly debt repayments and benefit from a lower interest rate and a longer repayment period.
This is what you’ll get from FNB:
- A loan up to R150 000 with flexible repayment terms up to 60 months
- A personalised interest rate
- The ability to take a break from your payments in January
- Pay zero penalties when you settle your loan account early
This is the documents you’ll need:
- Your green bar coded ID or Smart Card
- Your certified proof of residence
- A settlement quote should you wish to consolidate your debt
If you do not bank with FNB you will need the following:
- One payslip if paid monthly
- Two payslips if paid fortnightly
- Four payslips if paid weekly
- Latest three months bank statements reflecting your last three deposits
- Latest six months bank statements if self employed
- IRP5 Tax Certificate if self employed
A debt consolidation loan is ideal if you are looking to reduce your monthly repayment amount on your debt, or if you want to have the convenience of paying only one amount every month. If you have a good credit record and you want to reduce your monthly debt repayments, you can apply for a debt consolidation loan and benefit from the ability to repay your creditors in full and only have one lower instalment to worry about.
You cannot apply for a debt consolidation loan if you are over-indebted already, blacklisted or under debt review. If you cannot handle your current debt payments you need to consider debt review, or contact your creditors to work out a new repayment arrangement.