The FNB Revolving loan is a rolling facility that is linked to your active FNB cheque / transactional account which gives access to funding 24/7 without having to reapply for a loan for every expense. This facility allows you to use the agreed amount, repay the amount and then re-use the funds without having to apply again. How much is approved depends on your credit record and affordability.
With life being unpredictable, having the FNB revolving loan is a good way to be prepared for any unexpected expenses. This will help you manage your cash flow. Some of the expenses you might use the loan for include car repairs, medical expenses, school fees and day-to-day expenses.
Funds can easily be accessed at any time. If you have paid 15% of your FNB Revolving Loan you can simply transfer money to your Cheque Account using any digital channel, 24/7.
The FNB revolving loan comes with the benefit of monthly repayments never changing. You are charged a fixed interest rate and this also helps to keep monthly repayments the same. This then helps you when it comes to budgeting.
You are given the option to take Debt Protection. This will cover any outstanding amount on your loan in the event of permanent disability or death. This is a good option to take as it will give you peace of mind knowing that even if you die your loved ones will not be under pressure to pay off your debt.
Requirements To Apply For The FNB Revolving Loan
- You must be an FNB customer with an active FNB Cheque Account or Easy Account
- You must be 18 years or older
- A copy of your ID Book / Card
- You must be a South African citizen
- 3 Months Payslips
- Proof of residence
- Pass affordability and credit scoring assessment
- Spousal consent if you are married in community of property
FNB Revolving Loan Contact Details
Website: www.fnb.co.za
Telephone: 0860 327 827