Rating based on 48 reviews

Nedbank Consolidation Loan

  • Debt consolidation up to R300,000
  • Low-interest starting from 18.25%
  • Repayment up to 6 years

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Author Nedbank. Screenshot of Nedbank website.
[Accessed December 12, 2022]

About Nedbank

Are you looking for a bank that is serious about your financial wealth?

You have found exactly that. Partnering with Nedbank is having a financial institution on your side that cares for your financial well-being. Whether you want to buy your first home, get a personal loan, need help with your business matters, or a debt consolidation loan. With Nedbank, you have a financial partner for life.

How Nedbank came to be

The bank was founded in Amsterdam in 1888. It was then known as the Dutch Bank and Credit Union for South Africa. Also in 1888, they opened an office in Church Street, Pretoria, South Africa. In 1969 the number of South African shareholders increased significantly and the bank became 100% South African owned.

Choose a debt consolidation loan from Nedbank

At Nedbank, they care. They believe in giving clear and sound advice and proper guidance on everything you need to know before you apply. Your financial health matters to them. Nedbank will only give you a debt consolidation loan for the amount that you can afford. They don't hide nasty pricing surprises from you. Nedbank lets you know exactly what you will be paying back.

With Nedbank, you are looked after

Getting a debt consolidation loan from Nedbank offers you the most competitive rates based on your risk profile. Partnering with them will put you ahead of many others that make use of over-charging institutions. Don't pay more than you have to consolidate your debt.

Nedbank Services

Have you ever thought of the term tailor-made? Knowing already that everything is connected, technology enables banks to tailor a loan specifically to you.

If your salary gets paid into a bank account with the bank you want to borrow from, the picture is clear. They have a clear record of what comes in and your expenditure. This makes a tailor-made debt consolidation loan even easier.

Predetermined debt consolidation loans from Nedbank

Often you will receive information from a financial institution informing you that you have been pre-approved for a loan. This is the case if you bank with Nedbank. According to your income and expenses, they can select you for a pre-approved debt consolidation loan. This is just one of the many ways Nedbank is making life easier.

Nedbank can help you consolidate your debt

Borrowing can easily get out of hand if you rely on your future income too much and spend more than you can afford at present. You have to make a positive change quickly or you will drown in serious debt.

Nedbank is confident that their debt consolidation loans can help you make the changes necessary to get a fresh start.

Let the experts at Nedbank help you 

You don’t need to do a thing except apply for your debt consolidation loan. They will do the rest for you. You’ll be pleasantly surprised at a job well done. You will be working closely with one of their experienced and skilled financial planners.

Nedbank – Consolidation loan

  • Loan Type Debt consolidation
  • Interest Rate 18.2527.25% p/a
  • Loan Amount up to R300,000
  • Repayment 6 months to 6 years

Benefits of Nedbank

  • Quick online application
  • Low-interest rates
  • Flexible repayment periods

Nedbank can help you become debt free

Like with any other loan application there are a few necessary details that you have to have ready when you apply for a debt consolidation loan.

These are often standard documents like:

  • Your proof of address.
  • Your ID document.
  • Three months' bank statements.
  • Three months’ Payslips.
  • Any details about your employment.

What a Nedbank debt consolidation loan can offer you

A Nedbank debt consolidation loan can offer you a loan from R2,000 up to R300,000. They offer repayment terms ranging from 6 months to 6 years. Based on your risk profile and history of repayments on your debt, your interest rate can range from 18.25% to 27.25%.

Thus, on a loan of R140,000 with an interest rate of 18.25% and a loan term of 5 years you can expect a monthly instalment of R4,224.79.

Steps to apply:

You can apply for your debt consolidation loan online or by downloading the Nedbank app. Alternatively, you can give their call centre a call or pop into your nearest branch.

Whichever option you choose, an expert will be ready and waiting to assist you with your debt consolidation loan application. Simply make sure that you have all the necessary documentation on hand.

Step one:

Typically you will complete the debt consolidation loan application in full. You will attach all documentation. Once you are sure everything is complete and in order, you can submit your application.

Step two:

Your debt consolidation loan application will be sent to the review department and they will let you know if they need any further documentation. After the review, they will inform you of the loan decision.

Step three:

You will be presented with debt consolidation loan options and choose the one that suits you best. There is an agreement that will be sent for your signature to say that you agree and accept the loan. Simply sign the agreement and send it back.

Nedbank will inform you on when you can expect your funds to be paid into your account.

Get instant relief with a debt consolidation loan

Choosing to take out a debt consolidation loan in South Africa from Nedbank is a wise decision. They strive to make you more equipped to maintain a healthy credit profile. With Nedbank every customer is equal and they leave no stone unturned in proving that.

The benefits of a debt consolidation loan from Nedbank 

  • Nedbank offers low rates
  • There is a repayment term of up to 72 months
  • Nedbank is effective and quick
  • An easy online debt consolidation loan
man holding thumbs up

Nedbank is a trusted & reliable provider of debt consolidation

In our review, Nedbank adheres to the compliance criteria in accordance with the National Credit Act, where the granting the loan will not cause financial distress to the consumer.

✅ Nedbank is a registered credit provider in South Africa: NCRCP16

Customer Reviews & Testimonials

April 2021

Much to my surprise, I found that a debt consolidation loan from Nedbank is not only easy but also great. The staff at our branch was super friendly. I was helped very professionally and it did n...

Adams C
— Centurion —

December 2021

I have been a customer with Nedbank for many years. When I needed a debt consolidation loan they were extremely helpful. I did not realize how easy the loan application would be until I applied. ...

Mallan A
— Adelaide —

August 2021

Needing a debt consolidation loan and being turned down by my bank made me lose hope. A friend told me how easily she got a loan from Nedbank and I decided to give it a try. All I can say is that...

Vermeulen C
— Port Elizabeth —

Nedbank Contact

Physical Address

Nedbank Universal Branch Code

  • 198765

Opening Hours

  • Monday 08:30 – 16:00
  • Tuesday 09:00 – 16:00
  • Wednesday 09:00 – 16:00
  • Thursday 09:00 – 16:00
  • Friday 08:30 – 16:00
  • Saturday 08:30 – 12:00
  • Sunday – Closed