Standard Bank Personal Loans are convenient ways of attending to pressing financial needs. When you have no access to cash, a personal loan may be your next best option. Fortunately with a Standard Bank Personal Loan you are assured to get the best solutions for your needs.
What are the benefits or getting a Standard Bank Personal Loan?
Interest rates charged on these loans are low compared to other lending institutions.
You can access loan amounts of between R500 and R40 000.
The loan amount you qualify for depends on your income and your credit risk.
Instalments are fixed every month for the duration of the loan. The interest rate on the loan is fixed and is also regulated by the National Credit Act.
Repayments can be made within 3 to 42 months maximum.
Instalments are paid via debit order through your transaction account. Repayment will be in line with your salary frequency, so this will either be every 2 weeks, weekly or monthly.
If you repay more than what’s required, your repayment period will be cut down significantly.
Compulsory Credit Life insurance is included. The Debt Protection Plan covers your outstanding loan amount in the event of your death, (natural or accidental), disability (temporary or permanent) and retrenchment. This premium is included in your monthly instalment. This way your family is given peace of mind should an unexpected event render you incapable of meeting your loan obligations.
All fees charged on the loan do not exceed those stipulated by the National Credit Act.
What is required to qualify for a Standard Bank Personal Loan?
- Be a South African citizen
- Have a valid South African I.D.
- Be aged between 18 and 65 years
- Have a transactional account into which your salary is deposited
- Be formally employed
- Earn a minimum salary of R1000 per month or at least R233 on a weekly basis or R455 per fortnight
- Provide a recent payslip not older than 2 months.
- Non-Standard Bank account holders must provide 2 months’ bank statements
- Provide proof of physical address
Call Standard Bank here: 0860 123 000