Standard Bank Revolving Credit Loans allow you to borrow money on a revolving basis of up to R300 000, having paid back at least 15% of your original loan amount. Getting revolving credit from Standard Bank is a good option for those individuals who might want access to credit whenever they need it without necessarily going through the hassles of filling out a fresh application.
Why use Standard Bank Revolving Credit Loans?
Standard Bank Revolving Credit Loans are credit solutions offered by Standard Bank that allows borrowers to re-borrow portions of the money that they have paid back on the original loan, essentially getting back the same amount they have paid back initially. This facility requires the borrower to however pay back a minimum repayment amount of 15% or more before they can use the facility. You are charged once for an initiation fee and irregardless of you re-borrowing the interest rates remain fixed throughout the duration of your loan.
Standard Bank Revolving Credit Loans also come with an Insurance Plan that protects you and your family from unfortunate and unplanned events such as retrenchments, permanent disability or even death, the insurance plan will settle all your remaining balance of the loan. If you decide to settle your loan in full much earlier than the loan repayment tenure Standard Bank will not penalise you for that.
Standard Bank Revolving Credit Loans Requirements
Basic requirements to access Standard Bank Revolving Credit Loans includes being above the age of 18 years and must possess your South African ID, must be employed permanently and earning a monthly minimum of R8 000, must have an active bank account where your salary is deposited into, and also must provide your latest proof of address not older than 3 months. The amount and loan repayment terms you qualify for is based on your affordability and credit profile.
Standard Bank Revolving Credit Loans Contact Details
Get more information on how you can apply for Standard Bank Revolving Credit Loans by visiting your nearest Standard Bank branch and speak to their consultants who will gladly assist you with any questions or with the application process itself. You can also visit their website www.standardbank.co.za or give them a call on 0860 123 000 for more details.