Nedbank’s Balance Transfer Promotion is generating a great deal of interest among South African credit card users. This offer allows you to transfer your existing credit card balance from another provider to your Nedbank credit card account and pay only 15% interest for up to 48 months, a significant reduction for many people.

Additionally, successful applicants will receive a R1000 deposit in their Nedbank transactional account after completing the process. However, it is crucial to understand both the eligibility requirements and the process before applying.

As an independent reviewer, I’ll guide you through the main features, step-by-step application, and my honest view of the promotion so you can decide if it fits your financial goals.

How to Apply for the Nedbank Balance Transfer Promotion

Start by ensuring you are already a Nedbank credit card holder with a transactional account and a good credit standing.

Apply for the balance transfer during the promotion period, between 7 April 2025 and 30 August 2025.

Wait for Nedbank’s approval, then accept the offered terms for the balance transfer at 15% interest over 48 months.

Once your other bank’s card balance is paid via the transfer, you must close your old card within 90 days of acceptance.

Within 30 business days of fulfilling these requirements, you’ll receive a R1000 deposit in your Nedbank account.

Benefits: Why Consider This Promotion?

The 15% fixed interest rate for 48 months is a main highlight, often lower than standard rates on competing credit cards in South Africa.

Securing an extra R1000 cashback makes this promotion even more appealing, provided you fulfil all requirements, including closing your old credit card.

What to Keep in Mind: Drawbacks

The main downside is that you must close your previous credit card, which may not suit everyone, especially if you want to keep your credit lines open.

If you don’t close your former card as specified, Nedbank reserves the right to reverse the R1000 cashback, affecting your expected savings.

Final Verdict: Is Nedbank’s Balance Transfer Right for You?

The Nedbank Balance Transfer Promotion offers a solid deal with its low, fixed rate and attractive cashback bonus. If you can meet their conditions and wish to restructure your credit in a cost-effective way, it’s a standout option worth considering before the 30 August 2025 deadline.