Home Loans repeat buyer offer
Terms and conditions
1. The promoter
Nedbank Limited, registration number 1951/000009/06 (we, us, our), runs this promotion. We reserve the right to make it available to qualifying clients only.
2. Promotion period
The promotion will be effective from 18 June 2024, running indefintely
3. Who can and cannot participate in the promotion
3.1 A participant (you, your) must:
3.1.1 Be a natural person residing in South Africa;
3.1.2 have an existing Nedbank home loan;
3.1.3 apply for a new Nedbank home loan;
3.1.4 be 18 years or older;
3.1.5 have a valid South African ID; and
3.1.6 meet the qualifying criteria set out in cause 5 below.
3.2 This promotion excludes home loan applications applicable to:
3.2.1 A building loan, a readvance loan, further loan, endorsements or switch loans (switching your existing home loan at another financial institution);
3.2.2 Juristic entities, including a partnership, trust, company, or close corporation; or
3.2.3 Nedbank Private Clients and Small Business Services, Nedbank Private Wealth or Nedbank Commercial Banking client.
4. The offer
4.1 If you meet the qualifying criteria, the interest rate on your new home loan will be reduced with up to 0,5%, subject to your new loan being approved.
4.2 This offer is subject to our internal credit lending criteria, lending policies and practices (as amended from time to time) and granting of this incentive will be at our discretion..
5. How to qualify for the offer
5.1 When you apply for the new home loan, you must:
5.1.1 have an existing home loan with us; or
5.1.2 have had a home loan with us in the 12 months prior to submitting your new application, without any arrears or defaults; and
5.1.3 apply for the new home loan via any Nedbank channel (i.e., website, Money app, home loan sales consultant, at a branch) or through a mortgage originator.
5.2 The maximum amount that you can apply for is R5 million.
5.3 If more than one person applies for the new home loan (joint application), at least one of you must meet the criteria.
5.4 Joint applications will not qualify if one of you has opted for our first-time homebuyer offer.
5.5 If you are a Nedbank employee, you may qualify for this offer if your home loan is not subject to fringe benefit interest rates.
6. How the offer is given out
If you qualify for the offer, the following applies:
6.1 You will receive the offer only after we have verified and confirmed your details, including your compliance with these terms and conditions.
6.2 You will receive the offer via email.
6.3 We will not be responsible for any technical failures affecting your participation in the promotion or if your entry has been left out from participation.
6.4 If a dispute arises, our decision will be final and binding on all aspects of the promotion, and we will not discuss the matter further.
6.5 All costs or expenses relating to the offer that have not been mentioned here are excluded.
6.6 We will not be responsible for any delays in your taking up the offer.
6.7 We will not be responsible for any additional conditions that third parties impose.
6.8 We will give the offer directly to you and not to anyone else, and we will not replace it with cash.
6.9 We will not be liable for delays or failure to deliver any part of the offer resulting from acts beyond our reasonable control. We will let you know you as soon as reasonably possible if the offer is affected in this way.
6.10 We reserve the right to replace the offer at any time with another of similar commercial value.
7.. General
7.1 All information about this promotion, including information that is published on any promotion material, is part of these terms and conditions.
7.2 By participating in the promotion, you agree to be bound by these terms and conditions.
7.3 These terms and conditions are available on our website at nedbank.co.za throughout the promotion period.
7.4 We may ask you to consent in writing to endorsing, promoting and advertising any of our services, without payment. If you decline our request, you will still receive the offer.
7.5 By entering and participating in this promotion, you acknowledge that your personal information needed for the promotion will be shared with us and our agents, but only to the extent necessary for this promotion. Your personal information will be used in line with South African consumer and data protection laws.
7.6 We may amend, extend, shorten or cancel the promotion immediately and without notifying you if it is permitted by law, if we must do so by law, or for reasons beyond our control. If this happens, you will give up any rights that you may have in terms of this promotion and you will have no recourse against us or our agents, contractors or sponsors as a result of the extension, shortening or cancellation.
7.7 We or our directors, employees, agents or suppliers will not be responsible for any direct or indirect loss or damage resulting from your participation in the promotion, or for any accident, injury, harm, costs, or death that you or any other person who participates in the offer sustains at any point during the fulfilment of the offer.
8. More information
For more information about the promotion call us on 0800 555 111.