Standard Bank Personal Loan: Plans of up to R300,000 with Prime Interest rates!

The Standard Bank brings the full strength of its brand to offer various types of personal loans, with the possibility of receiving up to R300,000.

The bank offers personalized interest rates, UCount rewards, and flexible terms with payments up to 72 or 84 months. Here’s how to apply.

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Standard Bank is one of the leading financial brands, not only in South Africa but across the continent. It operates in over 38 countries, with 18 of those in Africa, offering a range of financial services, including personal loans.

Standard Bank offers different types of personal loans, depending on the purpose of the funds, such as:

Term loan for any purpose you choose;
A solar loan specifically to purchase a solar energy system;
Revolving loan for recurring access to credit.

Directly on the Standard Bank platform, you can access a loan calculator, providing all the information regarding interest rates and payment options.

The platform clearly shows everything you need to know, including the estimated monthly payment and the first repayment date.

The personal loan packages range from R500 to R300,000, depending on the available credit capacity of each applicant.

Once again, the interest rate will depend on the type of loan, but Standard Bank indicates that it offers personalized rates according to the applicant’s profile, with an additional 17.5%, as regulated by the NCA.

To access the loan, you will need to have verifiable sources of income and good creditworthiness. Additionally, you must be at least 18 years old and registered in the country.

Yes, Standard Bank conducts a thorough verification process, including the creditworthiness of loan beneficiaries.

And yes, any type of personal loan can lead to credit issues, especially if you fail to make timely repayments.

Customers can apply for loans entirely online, using the banking app or internet banking, and benefit from personalized interest rates tailored to the application.

In addition to the Prime interest rates offered by Standard Bank, you will need to cover an origination fee, which ranges from R419 to R1,207, depending on other quotes.

The borrower is also responsible for a service fee of R69. Generally, the minimum repayment term is 12 months, and it can extend up to 84 months.

If you are a Standard Bank credit card customer, you can use your UCount points to pay off the loan by selecting this option when redeeming your reward points.

In this way, Standard Bank offers an attractive personal loan option for various needs, with more specific conditions for each case.

Want to learn another option?

If you want to consider another personal loan brand, you can check out Sanlam, which specializes in this area and has years of experience in the South African market.

Sanlam offers up to R300,000 with increments of R1,000, fixed rates, and exclusive rewards in Wealth Bonus. You can find out how to apply.

SEE HOW TO APPLY