The criteria each bank applies in giving loans are quite different - so if one bank turns you down, apply to others. If you are a full-time student you will have to service the interest repayments on the loan while you are studying. Part-time students must start repaying the capital plus interest immediately after the loan has been granted. All banks require that you take out a life assurance policy. They do not require that you have a bank account with them, but some insist that your guarantor is a client with the bank.
Interest rates vary among banks.
Also, try to negotiate for a better rate. You can pick up an application form from most bank branches and some banks have bureaus at major universities and technikons. The banks usually reply within seven working days of your submitting your application. There may be interest rate concessions if you are a Standard Bank client or if the person standing surety for your loan is a Standard Bank client. First National will lend money for tuition and books only - not for living expenses.