Student banking and NSFAS allowances
- Student bank accounts (2026 terms):
- Standard Bank Student Achiever: R12 a month from 1 January 2026. It includes free cash withdrawals up to R1,000 and deposits up to R1,500 a month at Standard Bank ATMs, 10 free electronic debit transactions a month and a free Shyft card.
- Absa Student Account: no monthly fee for full-time students aged 18 to 27 at a recognised tertiary institution. You need ID, proof of residence less than 3 months old and proof of registration.
- Nedbank Unlocked.Me: a youth account with no monthly maintenance fee, but per-transaction fees apply. Sources give the upper age limit as 25 or 26.
- Capitec has no student account. Global One was R7.50 a month from 1 March 2024.
- We could not confirm current FNB student account terms from an official source.
- Check the fee schedule when you open an account: fees change each January and July, and ATM and per-transaction charges matter more than the headline fee.
- NSFAS allowance caps: NSFAS's published caps for the 2025 academic year, for university students in metro areas, are R65,993 for catered residence accommodation and R56,633 for non-catered, a living allowance of R17,160, learning materials of R5,678 and personal care of R3,167. Institutions that want to charge more need NSFAS's written approval. We could not find official 2026 caps: sites quote different 2026 figures (for example a living allowance of R16,500 or R17,190), so confirm with NSFAS.
- How it is paid: accommodation goes to your residence or accredited landlord. Students living at home generally get a transport allowance instead of an accommodation allowance, not both.
- Rent: a 2025 report puts student accommodation across South Africa at roughly R4,000 to R25,000 a month, depending on location and facilities.
Source: Standard Bank Student Achiever 2026 pricing guide (PDF) · Absa Student Account · Nedbank Unlocked.Me · Capitec transact flyer 2024 (PDF) · SAnews: NSFAS allowance caps for 2025 · Official · Briefly: NSFAS allowances 2026 · Grantza: NSFAS allowances 2026 · Independent on Saturday: student rent, Oct 2025 · Unofficial · NSFAS: nsfas.org.za
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