Home loan R20 000 cashback promotion

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 starts on 1 March 2025 and ends on 30 September 2025 (promotion period).

 3. Who can and cannot participate in the promotion

3.1 A participant (you, your) must:

3.1.1 be a natural person;

3.1.2 be 18 or older;

3.1.3 have a South African ID;

3.1.4 reside in South Africa; and

3.1.5 ensure that your account is in good standing, which means that it may not be in arrears or have been handed over for legal collection.

3.2 The following people may not participate in the promotion:

3.2.1 Our employees (including temporary and contract employees), associated companies, agents, contractors, and sponsors may not participate in the promotion.

3.2.2 Juristic entities, including a partnership, trust, company or close corporation.

3.2.3 Foreign nationals who do not have a valid South African ID.

3.2.4 People who are taking out further loans, readvances, endorsements, building loans or switch loans (loans from other financial institutions), and people who are buying Nedbank-owned property or property through Nedbank-assisted Sales.

4. The offer

If you take up our home loan offer, meet the qualifying criteria, and comply with all the terms and conditions, you could get up to R20 000 cashback into your account to spend as you want. 

The amount you qualify for will be based on the home loan amount you have been approved for:

5. How to qualify for the offer

5.1 Once you have found a property that you want to buy, you must submit your home loan application via:

5.1.1 our Contact Centre on 0800 555 111; or

5.1.2 any of our digital channels, which include the Money app and our website at nedbank.co.za.

5.2 You must have an existing Nedbank transactional account (a current or savings account) or open a new account before the registration of your bond. Your main income must be paid into this account and your account statement must show this payment.

6. When you do not qualify for the offer

6.1 You will not qualify for the offer if you have applied for a home loan through any of the following Nedbank channels:

6.1.1 Nedbank branch

6.1.2 Sales consultants

6.1.3 Relationship bankers

6.1.4 Private bankers or regional managers

6.1.5 Estate agents

6.1.6 Mortgage originators

6.2 You will also not qualify for the offer if you have received formal approval (approval in principle, quote or grant) through any of the above channels and then apply for a home loan via our Contact Centre or any of our digital channels.

6.3 This offer is not available in conjunction with our affordable-housing cashback offer. 

6.4 The cashback offer is separate to the main-banked offer (you are main-banked if your primary account is a Nedbank account). If you are eligible for this offer, we will include these terms and conditions in your home loan quote.

6.5 We reserve the right, at our sole discretion, to modify, suspend or terminate this offer at any time and for any reason. If we do, we will communicate this on our website, and you will not have any recourse against us and our employees.

7. How the offer is given out

7.1 If you qualify for the offer, the following applies:

7.1.1 You will receive the offer only after we have verified and confirmed your details, including your compliance with these terms and conditions.

7.1.2 Once the property has been registered in your name at the deeds office, we will pay the cashback into your Nedbank transactional account within 45 calendar days.

7.1.3 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.

7.1.4 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.

7.1.5 All costs or expenses relating to the offer that have not been mentioned here are excluded.

7.1.6 We will not be responsible for any delays in your taking up the offer. 

7.1.7 We will not be responsible for any additional conditions that third parties impose.

7.1.8 We will give the offer directly to you and not to anyone else. 

7.1.9 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 as soon as reasonably possible if the offer is affected in this way.

7.1.10 We reserve the right to replace the offer at any time with another of similar commercial value.

8. General

8.1 All information about this promotion, including information that is published on any promotional material, is part of these terms and conditions.

8.2 By participating in the promotion, you agree to be bound by these terms and conditions.

8.3 These terms and conditions are available on our website at nedbank.co.za throughout the promotion period.

8.4 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. 

8.5 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.

8.6 We may 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.

8.7 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. 

9. More information

For more information about the promotion call us on 0800 555 111.