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Bank

Accounts

Bank your way with low fees and extra benefits.

Credit cards

Enjoy 55 days’ interest free credit and other benefits.

Greenbacks

More rewards at every level as you spend and invest.

Digital banking

Bank on any device, from anywhere at anytime.

Switch to Nedbank

Move your salary and debit orders over easily.

Fraud awareness

Protect yourself against the latest schemes and scams.

Forex

Buy foreign banknotes, transfer funds or shop globally with a travel card.
Back
Save & Invest

Accounts

Great interest rates and easy access to your money.

Share trading

All-in-one online trading or broker assistance.

Secure investments

Guaranteed income and growth plans for future income.

Investment services

Local and international wealth management solutions.
Back
Borrow

Personal loans

Affordable loans and interest rates from R2k to R400k.

Home loans

Buy or build your home with up to 109% financing to cover bond and transfer costs.

Student loans

Nedbank offers full or part-time loans to students.

Overdrafts

Instant access to credit when you need it.

Vehicle finance

Easily apply for MFC vehicle finance in 5 steps.

Solar finance

Secure an affordable energy solution when in need.

Debt assistance

Debt management support when you need it the most.
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Life cover

Secure your family’s future with up to R2million.

Funeral cover

Cover for you and your family in the event of death.

Short-term insurance

Car, building, house contents, valuables and more.

Credit Life

Bond, credit card, overdraft, loan and car repayments.

Travel insurance

Global travel insurance with 24-hr emergency assist.

Business cover

We have cover for small, medium or large businesses.

Secure investments

Guaranteed income and growth plans for future income.
Back
Plan

Financial planning

Achieve your financial goals with expert planning.

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We’ll help manage your assets, debts and estate planning.

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New mobile network, new possibilities. Find the answers to the questions you may be asking yourself.
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MyCover Credit Shortfall

Losing your car is tough, but still owing money on it makes it even harder. With MyCover Credit Shortfall, we settle the difference between what your insurer pays and what you still owe the bank, so you’re not left paying off a car you no longer have.

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Why choose our insurance?

Pays out if the vehicle is beyond economical repair following loss or damage

Pays out if the vehicle has been stolen and not recovered within a reasonable period

It’s peace of mind in your pocket. No debt surprises if your car is stolen or totalled

See terms and conditions
Features and benefits

Provides shortfall protection by covering the difference between your insurer’s total‑loss payout and the outstanding balance on your finance agreement.

 

Applies only when your underlying insurer declares the vehicle a total loss, ensuring the benefit is aligned to their assessment process.

 

Settles the approved shortfall amount directly with your credit provider, ensuring the finance agreement is closed correctly.

What is covered

We will pay the difference of no more than R500,000 between the total loss settlement and the settlement balance to your credit provider.

 

We will pay this difference only if your underlying insurer has accepted a claim for the vehicle on this schedule that:

  • in their opinion is beyond economical repair following loss or damage, or

  • has been stolen and not recovered within a reasonable period.

What is not covered

Arrears, including interest payable on the arrears.

 

Refunds of premiums for cancellation of insurance cover relating to the vehicle.

 

Excess amounts of more than R5,000 paid to the underlying insurer.

 

How do I know if I am eligible?

To be covered under the policy, your vehicle must follow the below criteria:

Must be a car, motorcycle or light delivery vehicle.

 

Must be roadworthy.

 

Must be for private use only.

 

Must not be a taxi, rental vehicle, exotic vehicle, rebuilt vehicle (code 3), modified vehicle or a vehicle used in any form of motoring competition or sport.

Simple, fast claims process.

1
2
3
1
Log your claim

Call 0800 333 111 to log your claim. We’ll guide you on the next steps.

2

card icon
Submit documents

Provide us with all the required documents.

3

Leave the rest to us

Our team will assess your claim and keep you updated every step of the way.

To learn more about the claims process visit this page.

Ready to apply?

Get started