Life is full of milestone events worth celebrating. Graduations, coming-of-age ceremonies, weddings, newborn babies, anniversaries, birthdays, and retirement are all good reasons to splash out and mark the occasion with family and friends. Some will be unexpected – like a last-minute invitation to a friend’s spontaneous wedding at an exotic destination. Others, like a bar mitzvah or a 21st birthday party, you can plan well in advance.

But whether they’re long-awaited events or pleasant surprises, milestone celebrations bring with them a variety of expenses that can include flights, gifts, accommodation for guests from out of town, venue hire, entertainment, and catering. If you’re planning a wedding, add the dresses, the flowers, the table decorations, the videographer, the photographer, and the cake. This is where a Nedbank Personal Loan can be the helping hand you need.

Why choose a personal loan?

If you practise good money management and keep track of your income and expenses with a strict budget, you’ll include a savings account to finance memorable occasions among your other investments (like emergency and retirement funds) and contribute to it regularly. But even then, a special anniversary or a dream wedding can end up costing more than you budgeted for. The guest list could increase dramatically thanks to last-minute plus-ones, or it could get more expensive to fly loved ones in from overseas if the value of the rand drops – any sudden change in circumstances that forces you to rethink your plans might throw your budget off and leave you with a shortfall.

A personal loan can help you make special days memorable without letting financial hiccups spoil your plans. Responsible credit use improves your credit score, so if you take out an affordable personal loan and make all your payments on time until it’s paid off, you should find it easier to qualify for credit the next time you need it.

Why Nedbank is best for your personal loan

Responsible borrowing includes dealing only with reputable, responsible lenders, so choose a registered financial services provider when you apply for a loan. At Nedbank, we prioritise responsible lending and customer care, which is why we tailor our loan offer to your specific financial circumstances and would never offer you a loan that you couldn’t afford.

We’ve explored a few more factors that we believe provide solid evidence that we are indeed the best bank for your personal loan.

Responsible lending practices

Taking out a loan when you can only just afford the payments is a mistake that could cause you to overextend yourself financially. Even if your loan is at a fixed interest rate so that the monthly payment stays the same, changes in variable interest rates on your other debts that increase their monthly payments could leave you struggling to make loan payments as well.

Before granting your loan, Nedbank will carry out thorough due diligence to make sure that the loan amount and repayment terms suit your needs and the amount you can afford to pay every month. If we think a loan is unaffordable, we might offer a lower loan amount, or else structure your repayments over a longer term, so that the monthly payment is affordable in your budget. You can borrow with confidence, knowing that your loan is tailored to your financial profile.

Flexible payment periods and competitive rates

Every borrower will have different needs. Our flexible loan terms and tailored interest rates allow you to choose a loan option that best matches your lifestyle and cash flow. Interest rates have the biggest effect on the cost of borrowing, and our competitive rates help make your repayments more affordable.

Get R200 cashback

You could qualify to get R200 cashback every month* for the length of your loan term. The money is yours to use however you like. You can pay it towards your account maintenance fees, deposit it in a savings account, or treat your family to movie night at Nu Metro – and enjoy a 50% discount on tickets and selected refreshments if you pay with your Nedbank card.

To qualify, you need to open a Nedbank MiGoals Plus Account or MiGoals Premium Account when you accept our loan offer and arrange to have your salary paid into that account every month. You must also set up a debit order on the account to make your monthly loan payments and complete at least 1 other digital transaction on the account every month.

*Read the full terms and conditions.

Quick and easy application

It’s quick and easy to apply for a Nedbank Personal Loan – you can complete the entire process via Online Banking or the Money app. We understand that you could rather #BankYourTime somewhere more important, so we designed the application process with your convenience in mind.

The instructions are clear and there is minimal paperwork, so you can complete your application within minutes. Once you’ve submitted your application, you can expect a prompt decision, and if your application is approved, we’ll make a loan offer that sets out all the details of the loan amount, term, interest rate and monthly payments. If you accept the offer, we will pay the money into your account, and you can plan accordingly.

If you’re already a Nedbank client, you may be preapproved for a personal loan – you would’ve been notified on the Money app. If so, the application process is even easier – simply accept the offer, and we’ll do the rest. With just a few taps, the money could be in your account the same day.

A Nedbank Personal Loan is a smart solution that promotes responsible borrowing and comes with added benefits. It could even help you create memories that last a lifetime. Contact us for more information.