Standard Bank Personal Loans – are you looking for finance to address a stressing financial need but not sure where to begin? The good news is that Standard Bank Personal Loans are loans that can help you fix that and are tailored to meet your individual need. With Standard Bank Personal Loans you can get access to finance ranging from R500 to as much as R300 000 depending on your credit profile and affordability assessment.
Why Standard Bank Personal Loans?
The minimum amount you may borrow with the Standard Bank Personal Loans ranges from R500 to a maximum amount of R40 000 and amount you qualify for depends on your income and your credit risk. These loans have got a very easy application process and the approval turnaround times are quiet fast, ensuring that your application gets processed quickly and the funds are wired directly into your account in a fast, easy and convenient manner.
Standard Bank Personal Loans Repayment Period
The minimum installment amount remains fixed for the duration of the loan and the minimum repayment terms ranges from a minimum of 3 months and a maximum term of 42 months. The installment amount is recovered from your transaction account through a debit order and repayment will be in line with your salary frequency that is two weeks, weekly or monthly. The repayment period of the loan will be cut down by deposits made in excess of the minimum installment amount required.
Standard Bank Personal Loans Insurance
Standard Bank Personal Loans products have a compulsory credit life insurance. Standard Bank offers the Debit Protection Plan which covers the following instances for example death (natural or accidental), disability (temporary or permanent) and retrenchment. The associated premium is increased in your installment calculation. Any policy that has the same cover as the Debt Protection Plan may be used.
Standard Bank Personal Loans Interest rate
The interest rate offered will be based on your credit risk and the loan has a fixed interest rate, which is regulated by the National Credit Act. This means your loan can be charged on the maximum rate that can be capped as determined by the act. Interest payable is calculated on your daily outstanding balance but charged to your account once as determined by your payment frequency.
Standard Bank Personal Loans Fees
All fees for the Standard Bank Personal Loan is charged are regulated by the National Credit Act and will not exceed the limits determined by the act. A once off initiation fee will be levied on your account origination thereafter a service fee will be levied fortnightly, weekly or monthly based on your repayment frequency.
How do I qualify for Standard Bank Personal Loans?
For the Standard Bank Personal Loans to be processed Standard Bank will need your South African ID, must be above the age of 18 years and permanently employed, an original recent pay slip not older than 2 months, have a transactional account where your salary is deposited, two months bank statement for Non-Standard Bank transaction account holders and lastly your proof of physical address such as a cell phone or store account bill, or your current lease or rental agreement.
Standard Bank Personal Loans Contact Details
To apply for Standard Bank Personal Loans visit your nearest Standard Bank branch, or call on 0860 123 000 or visit their website www.standardbank.co.za.