FNB calls 2014 students for loans
Student loans open the doors to a good tertiary education even when access to bursaries and funds are limited, FNB said advising parents and prospective students to make early arrangements for student loans for the 2014 academic year.
“Student loans are a sound investment in the future and a convenient way to pay for student fees, computers, books and accommodation.
These loans are easily accessible providing the student’s parent or guardian earns more than N$6000 per month and the application meets NCA criteria.
A pre-requisite for an FNB Life Start Student Loan is proof of registration in an academic institution,” said Ester Kali, Executive of Retail and Business Banking at FNB Namibia.
The FNB student loan offers a six-month payment holiday on the capital portion of the loan from the date of graduation.
Interest payments must be made from the date of taking the loan.
“For FNB customers, access to a Life Start Student Loan is easy and can be completed via Online Banking, a FNB branch or the Call Centre.
We require an ID Book for the student and the guardian/parent and loan amounts start from N$4000.
We require additional documents from customers of other banks and for larger amounts.
Students can re-apply for additional amounts at any time after the loan has been granted,” said Kali.
FNB is already noting strong demand for student loans, mostly from Grade 12’s who are starting to register at universities and technikons for 2014. Demand for student loans increased by almost 5% last year and loan values have increased by more than 13%.