Nedbank Ordinary Home Loan

Easily get a home loan from Nedbank Ordinary Home Loan with a payment period of up to 25 years if you earn R 2,500 per month or more.

Single or joint gross monthly income and the value of the property you want to buy is R100,000 or more. You also need a clear credit record.

Nedbank’s Ordinary Home Loan is a flexible Home Loan that can be tailored to suit your individual needs.You can use your home loan to finance the purchase of an existing residential property or to make significant structural improvements to your existing home. Whether it is to buy your dream home or to turn your existing property into your dream home, Nedbank can make it happen for you and your family.

You can pay off your Nedbank Ordinary Home Loan  over a period of up to 25 years with a fixed or variable interest rate. We give you access to further loans or excess funds, and the option to pay off your home loan sooner. With our comprehensive insurance products you can cover both your home and your home loan.

What does Nedbank Ordinary Home Loan  offer you?

  • Repayment term of up to 25 years
  • Fixed or variable interest rate options
  • Further loan without registration of a new home loan (Re-advance) which gives you access to the capital amount already paid off up to the original loan amount
  • Further loan with registration which allows you to register a second loan that grants finance for a variety of uses (depending on affordability up to the latest valuation amount)
  • NedRevolve gives you access to excess funds which accumulate should you pay more than the prescribed installment or a lump sum into your home loan account
  • Funds are available in multiple draws of a R1,000
  • Nedbank Accelerated Payments which enables you to pay off your home loan sooner than the term stipulated in your home loan agreement
  • Home Owner’s Insurance cover on freehold homes at full replacement value
  • Loan Protection Assurance for loans up to R500,000 and below

Do I qualify?

In order to qualify for a Nedbank Ordinary Home Loan  you need to meet certain criteria based on the property value, your earnings and your credit record.

  • You earn R2,500 per month or more (single or joint gross monthly income)
  • The value of the property you want to buy is R100,000 or more
  • You have a clear credit record

You will be assessed for affordability in terms of the National Credit Act (NCA). Approval is subject to Nedbank’s credit qualifying criteria and a property valuation.

Which Documents do you need?

To make it easier for you we have compiled a checklist of documents you will be required to submit with your home loan online application.

  • Fully completed Home Loan application inclusive of Income and Expenditure; Assets and Liabilities
  • Copy of Identity Document/s
  • Copy of signed offer to purchase, except where no sale is taking place
  • Latest 3 months’ personal bank statements, original and stamped
  • If Maintenance/Alimony forms part of earnings:
    • Latest 3 months’ bank statements (original and stamped) reflecting the maintenance/alimony payments
    • Copy of the court order
  • If client has been rehabilitated, proof of insolvency rehabilitation (Rehabilitation Order)
  • If applicable an IT 34 may be required as well as any other supporting documentation at the discretion of Nedbank
  • If endorsement 45 (COP) or 57 (ANC):
    • Decree of divorce
    • Death certificate for deceased
  • For salary earners:
    • If commission forms part of earnings, 3 months’ salary slips or commission schedules
    • Latest pay slip
  • For the self-employed:
    • Latest 6 months’ business bank statements (original and stamped for non-Nedbank clients)
  • If applying in the name of an Individual, Joint names or Trust:
    • Latest financials/management accounts
    • Trust documents (where applicable)
  • If applying in the name of a Company:
    • Latest audited financials
    • Company documents
    • Auditor’s letter
  • If applying in the name of a CC:
    • Latest financials
    • CC Documents
    • Auditor’s letter confirming income

Contact Nedbank Home Loans

Home Loans Call Centre:
0860 555 111 (National)
+27 (0)11 710 4000 (International)
Operating hours:

Monday – Friday 08h00-16h30
Saturday 08h00-12h00