As a licensed financial services provider, Standard Bank, with more than 151 years of history in South Africa, offers a range of banking services including Standard Bank Personal Loan to its many customers across sub-Saharan Africa.They say that their clients are at the centre of all they do, and because the Bank subscribes to the Code of Banking Practice, they can ensure the highest standards and professionalism.
When applicants apply for a loan, they have the choice of different types :
• Home Loans
• Student Loans
• Pension-Backed Housing Loans
• Vehicle Loans
• Personal Loans
Standard Bank Personal Loan is a great way to get the money needed for so many different things. When an applicant apply for a personal loan, they get Quick application process Easy terms and Competitive interest rates.
Standard Bank Personal Loan Repayment Plan Options
Customers get two repayment plan options – a fixed-term option where the repayment amounts remain the same, and the flexible term option where an applicant can borrow again after he/she has paid off part of the loan.
Personal loans as a revolving credit loan are useful in that once a certain percentage of the total loan amount has been paid off, the customer will once again be able to get that portion again as an advance.
What an applicant need for a Standard Bank Personal Loan
• The applicant needs to be 18 years or older
• The applicant will need a South African ID document or Smart card
• One month’s pay slip
• Three of the latest bank statements
• Proof of residence – can’t be older than 3 months
• Your minimum earnings must be R3000 a month
More about the Loan
Standard Bank provides personal loans of between R3 000 and up to R300,000, and whatever amount the applicant wants to loan, it will be paid directly into the bank account. The loan repayment plan for the R3 000 loan is 90 days and for the R300 000, it is 5 years or 60 months. Standard Bank personal loans range in price depending on customer’s personal credit profile.
Your personal loan will need to be paid back by means of a debit order arrangement. It is calculated according to your salary and when you get paid – weekly, fortnightly or monthly. Standard Bank personal loans also require that you take out credit life insurance. The Standard Bank provides finance to its customers at low competitive interest rates. They tell their customers that when everything is in the customers’ favor, they will in all likelihood be approved.
The Bank provides convenience for clients. The applicants can make use of the Standard Bank personal loan calculator to calculate their monthly repayments.
Applicants will need to fill in the loan amount they want, and the calculator will tell them their estimated monthly repayment, when their first repayment date will be and their interest and fees amount. Then it’s just a case of applying for a loan and trusting that the applicant soon has the money in his/her pockets.
Please note that max APR will be 24.75%. Repayments would be made a minimum of 12 months and a maximum of 72 months term. You can apply for your Loan online or on the Banking App.