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Responsible Borrower
Terms and conditions
Stand a chance to win with Responsible Borrower
Staying in control of your debt is the best thing you can do for your financial future, as it helps you maintain a healthy credit profile and can secure you better loan interest rates over time.
And now, with Responsible Borrower, you also stand to win your loan back every three months by simply making your monthly repayments on time!
Join Greenbacks on the Money app today and add Responsible Borrower to your profile for your chance to win.
1. The promoter
1.1 Nedbank Limited, registration number 1951/000009/06 (we, us, our), runs this competition. We reserve the right to make it available only to clients who:
1.1.1 have loan accounts with Nedbank;
1.1.2 are members of the Nedbank Greenbacks programme; and
1.1.3 have opted into the Responsible Borrower package.
2. Competition period
This competition runs indefinitely.
3. Who can and cannot participate in the competition?
3.1 A participant (you, your) must:
3.1.1 be 18 years or older;
3.1.2 have a valid South African identity card or document; and
3.1.3 ensure that your loan accounts are in good standing, which means they must not be in arrears or handed over for legal collection.
3.2 Our employees (including temporary and contract employees), associated companies, agents, contractors and sponsors may not participate.
4. The prize
Every quarter (i.e. once every three months), one lucky participant stands a chance to have their loan paid up, up to R1,5 million.
5. How to enter
5.1 You will be entered automatically into the competition if:
5.1.1 you already have a home loan (joint home loans are excluded), a personal loan or vehicle finance with Nedbank.
5.1.1 your repayments towards your loans are up to date and paid in full;
5.1.2 you are a Nedbank Greenbacks member; and
5.1.3 you have/are opted into the Greenbacks Responsible Borrower package.
5.2 How many entries can you qualify for?
5.2.1 You will receive one entry per loan type. In other words, if you have two personal loans, you will get only one entry because the type of loan is the same. If you have one home loan and one personal loan, you will get two entries, because the loan types are different.
5.2.2 You can increase your number of entries per loan account based on your Greenbacks level as follows:
5.2.2.1 Level one gives you one entry, with a maximum of three entries (i.e. you must have three different types of loans).
5.2.2.2 Level two gives you two entries, with a maximum of six entries (i.e. you must have three different types of loans and we will double your entries).
5.2.2.3 Level three gives you three entries, with a maximum of nine entries (i.e. you must have three different types of loans and we will triple your entries).
5.2.2.4 Level four gives you four entries, with a maximum of 12 entries (i.e. you must have three different types of loans and we will quadruple your entries).
5.3 To increase your Greenbacks level, you can opt into any of the following packages if you meet the criteria for it: Card Swiper; Structured Saver; Money Manager; and Responsible Borrower. Opting in to:
5.3.1.1 one package increases your level to one;
5.3.1.2 two packages increase your level to two;
5.3.1.3 three packages increase your level to three; and
5.3.1.4 four packages increase your level to four.
6. Selection of the winners
6.1 The random computer-generated draw to select the winner will take place once every quarter on or about the 25th day of the month or the nearest weekday of the following months, i.e. April, July, October and January, via a Skype or Microsoft Teams meeting, which will be recorded or draw will be held at our head office at Nedbank 135 Rivonia Campus, 135 Rivonia Road, Sandown, Sandton.
6.2 If you win, the following applies:
6.2.1 You will receive the prize only once we have verified and confirmed your details, including your compliance with these terms and conditions.
6.2.2 We will either call you, send you an SMS or email you using the contact details that we have on record for you within five business days of the draw date.
6.2.3 We will pay the money (up to R1,5 million) into your loan account with the highest outstanding balance via an electronic funds transfer (EFT) within 30 days after the draw.
6.2.4 If the loan account referred to in 6.2.3 is closed or in the process of being closed and/or cancelled, we will then pay the money into your next eligible loan account. If you do not have any other loan accounts with Nedbank, you will forfeit your win and another draw will take place in the way described above.
6.2.5 We will not give or transfer the prize to anyone else.
6.2.6 If you win, you will not be entered into any further competition draws for the remaining competition period.
6.2.7 All costs or expenses that relate to the awarding of the prize (such as bond cancellation costs or Natis re-registration costs in relation to your vehicle finance) and that have not been mentioned here are included, provided that these costs or expenses do not exceed the maximum prize amount. If the costs or expenses exceed the prize amount, you will be liable for the additional costs or expenses.
6.2.8 We will not be responsible for any technical failures affecting your participation in the competition or if your entry has been left out from participation.
6.2.9 If a dispute arises, our decision will be final and binding on all aspects of the competition, and we will not discuss the matter further.
6.2.10 We will not be liable for delays or failure to deliver any part of the prize resulting from acts beyond our reasonable control. We will let you know you as soon as reasonably possible if your prize is affected in this way.
7. General
7.1 All the information about the competition, including information that is published on any competition material, is part of these terms and conditions.
7.2 By entering the competition, you agree to be bound by these terms and conditions.
7.3 These terms and conditions are available on our website nedbank.co.za under ‘Loyalty and Rewards’ throughout the competition period.
7.4 If you win, we may ask you to consent in writing to endorsing, promoting and advertising any of our services at no fee. You may decline this request, but we will still give you the prize.
7.5 By entering the competition, you acknowledge that your personal information needed for this competition will be shared with us and our agents, but only to the extent necessary for the competition. Your personal information will be used in line with South African consumer and data protection legislation.
7.6 We may extend, shorten or cancel the competition immediately and without notifying you if the law permits it, 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 competition 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 competition, or for any accident, injury, harm, damages, costs or death that you or any other person who participates in the prize sustains at any point during the fulfilment of the prize.
8. More information
For more information about the competition send an email to LROpsSupport@Nedbank.co.za.