I applied for a student loan with nedbank on the 09 of July 2013, I submitted all the necesary documents that were required, including my father's since he was applying on my behalf. 2 weeks after my application I recieved an sms that i should submit proof of any policy that we have that will be used as security for my loan, but however, we only had funeral policies. I then opened a new life policy with old mutual which will cover R100000 in case of disability and death, the policy is active already. I submitted the proof but stil my application was declined.
I was told at the bank that "Insurance cover in case of death or disability (can be arranged through Nedbank or clients can provide their own cover)"... they didn't even give me time to arrange a cover.
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