Nsfas Banking Details

Nsfas Banking Details

NSFAS banking details are for payments of the National Student Financial Aid Scheme (NSFAS) bursary loan. Students who are ready to repay their NSFAS loan are to pay them into the provided NSFAS bank account details. As you knew, NSFAS funding is not free and students are expected to pay back the loan after they’ve completed their qualifications and gotten employment. The management of NSFAS entreats all students to make payments of loans and any other fees to the NSFAS bank account. This article has therefore made sure that you get to know the banking details for NSFAS loan repayment.

Electronic Funds Transfer (EFT)

You can pay your NSFAS loan through the Electronic Funds Transfer (EFT) banking details provided by NSFAS. The banking details for NSFAS EFT payment are as follows

Name of Account: NSFAS
Branch Code: 210554
Bank: First National Bank
Account Number: 500 600 28203
You’ll have to use your ID Number as your reference number when making payments to the NSFAS bank account when making payments.

Salary Deduction

You can repay your NSFAS loans by salary deduction after you have gotten employment. You will have to provide the NSFAS banking details to your employer to deduct your NSFAS loan payment from your monthly salary to NSFAS. This is one of the simple payment methods for paying back your NSFAS loans on a monthly basis because you only need to provide the NSFAS bank account details to your employer and they’ll pay to NSFAS directly, in your name or records in the NSFAS. The banking details for NSFAS Salary Deduction are as follows

Name Of Account: NSFAS
Branch Code: 210554
Bank: First National Bank
Account Number: 500 600 28203

You’ll have to use your ID Number as your reference number when making payments to the NSFAS bank account when making payments.

Debit Order

You can also pay your NSFAS loan by debit order. This helps if you don’t want to remember the NSFAS bank account details every month to make your loan repayment. The debit order payment is automatic as long as there is money in your debit account. With this payment method, you’ll need to complete the NSFAS Debit Order Form and submit it to the National Student Financial Aid Scheme.

Which Bank Does NSFAS Use?

First National Bank, Standard Bank, and Capitec Bank are the banks provided by the National Student Financial Aid Scheme as the banking details for NSFAS loan payments.

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