Flexible payment plans for loans and credit

Welcome to our new digital experience. For more services please go to

nedbank.co.za

Welcome to our new digital experience. For more services please go to nedbank.co.za

Benefits of payment arrangements

A payment arrangement will allow you:

Breathing room to recover your financial situation,
catch up on your payments over an extended period, and
maintain a good credit profile

Drawbacks of payment arrangements

You will pay more interest and fees over the longer term as a result of the extended term or reduced instalment.

Types of arrangements that can be made

Home loan, vehicle and asset finance, and personal loans

You can settle your total arrears by paying extra over and above your monthly instalment.
We can offer you a short-term arrangement plan, that would require monthly contributions toward your total arrears.
We can offer you the option to pay your full or reduced instalment only for a short period while you recover from your financial situation.

Credit Cards

You can pay less than the instalment amount due for one month. Then you will continue paying the minimum amount due.
You can enter into a special arrangement that can last up to 60 months. If you choose this option, the card facility will be cancelled.

** If your card balance exceeds R100 000, you will need to complete an asset-and-liability schedule. If you do not bank with us, we will need your 3 months’ bank statements to complete a credit assessment.

Overdrafts

We can offer a payment plan where the outstanding arrear amount is split across up to 3 months.

Student loan

You can extend the repayment term in line with the contract to reduce the repayment amount.
You can enter into an arrangement of between 3 months and, depending on your financial circumstances, up to 12 months.