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Standard Bank Personal Loans

Standard Bank South Africa offers customers personal loans upto R300000 with flexible installments of 12-72 months. The bank has range of credit products tailored to meet the needs of different customers.

With Standard Bank you can get credit options on loans that do not fall within vehicle, finance, and mortgage. Some of the credits offered include overdrafts, student loans, managing your debts, vehicle and asset finance, pension backed loans, and home loans.

HOW IT WORKS-Using Standard Bank online credit calculator you can choose loan amount of loan to borrow and determine the amount to pay each month, interest rate, and repayment period. The application process is easy and fast.

Borrowers will first fill in the necessary documents and formalities before accessing the application form and applying for loans. The benefits of the bank’s individual credit include competitive interest loans compared to other Africa loans, fixed monthly installments, no early termination fees, and flexible installments of 12-72 months.

Standard Bank Overdrafts Loans
Customers are allowed to load an overdraft facility to their account if they incur additional expenses from time to time. The minimum and maximum amount of overdraft offered is determined by the bank depending on the account holder’s financial reports and the National Credit Act. However, customers have to be earning a minimum monthly income of R8,000 to qualify.

Overdrafts of over R500 are charged for monthly service fees. There are no monthly repayments required since the overdraft is paid off once clients monthly income is deposited in their bank. Interest is paid depending on the amount of money borrower has used thus a fixed figure is unavailable. The bank links customer interest rate to prime to save their money when prime rates drop. Customers can also insure their overdraft against disability, disease, or death.

Standard Bank Student Loans
Student loans are offered to people who have finished school and would like to finance their university education. All payments are made directly to borrowers school accounts. For students studying part-time, they are allowed to sign for credit and pay in monthly installments. Full-time students are required to pay interests only while studying and to pay the rest of the money after graduating.

The minimum and maximum amounts offered depends on the amount of school fees borrowers has to pay. The interest rates cannot be quoted since the personal loan is subject to variation. Standard bank gives grace period for graduates in case they take a while to find a job.