Important disclosure

Standard Bank Personal Loans

The Standard Bank of South Africa Limited is a South African financial services group formed in 1862 and is Africa’s biggest lender by assets. The company’s corporate headquarters, Standard Bank Centre, is situated in Johannesburg.

Sometimes in life you face unexpected circumstances and you need a personal loan. Standard Bank provides a range of personal loans for you when you need it most.

To help you decide, our loan calculator will help you compare your loan options. Once you input the loan amount, simply adjust the filter to a desired loan term and then click calculate. Try it.

Calculate repayments

Get access to your funds again when you’ve repaid 15% of your loan with the option to increase your original amount over time. Your revolving loan is paid straight into your account. Apply for a loan online or on our banking app and get real-time approval. If you have enough Rewards Points, you can pay your monthly installment with UCount Rewards. The option to increase your loan amount at a later stage.

Overview

Minimum loan amountR10,000

Maximum loan amountR300,000

Minimum term (months)1 month

Maximum term (months)60 months

Personal loan interest rates (base)10.25%

Personal loan APR10.25%

Monthly repayments (approx)R757

Total repayments (approx)R27,252

Total interest repayments (approx)R7,252

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR8,000

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Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?No

Sponsored No

Telephone0860 123 000

Data accurate as of18.01.2020

GO TO Standard Bank of South Africa

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Get the loan you’re looking for at the fixed monthly repayment amount and term you feel comfortable with. Your annual percentage rate for a personal loan will not exceed prime + 17.5%. Apply for a loan online or on our banking app to find out how much you qualify for. Choose to repay your loan over 12 to 72 months. Pay your monthly instalment with your Ucount Rewards points.

Overview

Minimum loan amountR3,000

Maximum loan amountR300,000

Minimum term (months)12 months

Maximum term (months)72 months

Personal loan interest rates (base)17.50%

Personal loan APR17.50%

Monthly repayments (approx)R831

Total repayments (approx)R29,916

Total interest repayments (approx)R9,916

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR8,000

GO TO Standard Bank of South Africa

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0860 123 000

Data accurate as of18.01.2020

GO TO Standard Bank of South Africa

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A cash loan from R2 000 up to R250 000. Fast, paperless application process. Decision in seconds. Cash in your account within 24 hours. Flexible repayment options; choose from 12 to 60 months. Free monthly statement via email or SMS. Customer Protection Insurance. Interest from as low as 15%.

Overview

Minimum loan amountR2,000

Maximum loan amountR250,000

Minimum term (months)12 months

Maximum term (months)60 months

Personal loan interest rates (base)15.00%

Personal loan APR15.00%

Monthly repayments (approx)R796

Total repayments (approx)R28,656

Total interest repayments (approx)R8,656

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR936.50

Minimum monthly incomeR2,000

GO TO RCS

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0861 729 727

Data accurate as of18.01.2020

GO TO RCS

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Get up to R250 000 over 1 – 84 months. Choose between the amount you want, the monthly installment that suits your pocket, or the option that gives you the lowest interest rate. Credit is approved in minutes and the money is available immediately. Pay fixed monthly repayments.

Overview

Minimum loan amountR50,000

Maximum loan amountR100,000

Minimum term (months)1 month

Maximum term (months)84 months

Personal loan interest rates (base)14.20%

Personal loan APR14.20%

Monthly repayments (approx)R797

Total repayments (approx)R28,692

Total interest repayments (approx)R8,692

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR3,000

GO TO Capitec Bank

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0860 66 77 89

Data accurate as of12.07.2020

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Loans up to R250,000. Terms between 7 months and 72 months.

Overview

Minimum loan amountR10,000

Maximum loan amountR250,000

Minimum term (months)7 months

Maximum term (months)72 months

Personal loan interest rates (base)15.00%

Personal loan APR15.00%

Monthly repayments (approx)R805

Total repayments (approx)R28,980

Total interest repayments (approx)R8,980

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR2,000

GO TO African Bank

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityNo

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?No

Sponsored No

Telephone0861 111 011

Data accurate as of18.01.2020

GO TO African Bank

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Tired of those expensive repayments? Then switch your personal loans to Absa. It’s easy and with our guaranteed lowest interest rate, you will start saving money immediately. We can switch your personal loans of up to R350 000 and pay your creditors directly.

Overview

Minimum loan amountR15,000

Maximum loan amountR350,000

Minimum term (months)12 months

Maximum term (months)84 months

Personal loan interest rates (base)18.82%

Personal loan APR18.82%

Monthly repayments (approx)R845

Total repayments (approx)R30,420

Total interest repayments (approx)R10,420

Rate typeFixed or Variable

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR2,000

GO TO Absa

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityNo

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feen/a

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0860 100 372

Data accurate as of12.06.2020

GO TO Absa

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CompareLoans.co.za provides factual information in relation to financial products. While CompareLoans.co.za attempts to make a wide range of products and providers available, it may not cover all the options available to you. Moreover, we cannot be responsible for changes made to this information by product providers and/or inaccurate information obtained from a product provider. All product information comes from the product provider or publicly available information and to the best of our knowledge is correct at the time of publishing. The information published on CompareLoans.co.za is general in nature only and does not consider your personal objectives, financial situation or particular needs and is not recommending any particular product to you. If you decide to apply for a product you will be dealing directly with that provider and not with CompareLoans.co.za. CompareLoans.co.za recommends that you read the relevant product disclosure statement or product guide before taking up any financial product offer. For more information please see CompareLoans.co.za's Terms of Use and Services Guide.

Minimum and maximum loan periods vary between 1 months and 10 years. Comparison interest rates vary between 6.55% and 60% p.a. Total interest repayments vary between R685.05 and R844.12 over the life of the loan. *Comparison rate is based on an unsecured loan of R20,000 for a term of 3 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. These rates can change without further notice. All rates quoted are per annum. For more information regarding fees click on "View fees & additional info +" for each product or contact the provider.

What type of loan are you looking for?

About Standard Bank personal loans in South Africa

If you’re thinking of approaching Standard Bank for a personal loan, then this article will give you the best guide on the process. When it comes to top South African lenders, Standard Bank is no doubt included. The bank has been keeping its doors open for South Africans in the last 150 years.

They offer licensed financial services that are specifically tailored to meet the various needs of Mzansi’s citizens. In this article, we take a close and detailed look at Standard Bank personal loans, in particular. By the end, you should be ready to move on from thinking about a loan to actually expecting money in your account.

What do I need to apply for a personal loan at Standard Bank?

  • valid South African ID;
  • proof of residence such as a council bill that is not older than 3 months;
  • payslip showing your earnings for 1 month;
  • 3 months bank statements for those without a Standard Bank account;
  • you should earn at least R7 500 per month; and
  • you should be 18 years and above.

Please Note: Standard bank also requires you to take out a debt protection plan. This credit life insurance will cover you in case of retrenchment, disability, or death. You can apply for this insurance with any suitable provider. If you choose Standard Bank, the insurance becomes a part of your monthly instalments.

Tips for choosing the best Standard bank loan option for you

Personal loans are handy for times when you need extra cash to keep things flowing. However, financial responsibility requires that you do your homework before choosing a loan. Check out these super important tips to make sure you make a fully-informed decision:

  1. Choose a loan for the right reasons – Getting money in your bank account is an exciting feeling. That doesn’t mean you should take out a loan just because. Instead, consider if taking out a loan is necessary or something you can do without.
  2. Choose a loan you can afford – Don’t be tempted to take on more than you can handle. It is important to remember that the more you take, the more you have to pay back.
  3. Borrow money wisely – If you already have existing debt, applying for another loan can be expensive because of multiple interest rates. It would be best if you kept borrowing to a minimum.
  4. Find out about the interest rate – Knowing about the interest rate is crucial when applying for a loan. Paying back a loan with a high-interest rate is not fun.
  5. Find out how you’ll be paying pack the loan – Paying back loans usually involves monthly instalments. Other times, it can be weekly or every two weeks. Find out how much you’re supposed to pay back for each instalment.

Other things to consider: Do you have to make the payments yourself, or is the money automatically deducted from your account? Furthermore, can you make extra payments without being charged a penalty fee?

  1. Keep up to date with your credit history – You are entitled to one free credit report every year. After that, you can still get one for a very small fee. Take advantage of the opportunity to update your knowledge of what’s on your credit report. This helps you to apply for financial help with confidence.
  2. Ask more questions about Standard bank loans – Do you have any other queries? Feel free to ask as Standard Bank has trained professionals willing to help you. For example, you can receive valuable advice on which loan option is better suited to your needs.

Standard Bank personal loans summary

The tips mentioned above are very helpful, but you’ll be pleased to know we’ve done some work for you. Here are a few figures and information you might be looking for before applying for a Standard Bank loan:

  • Minimum loan amount: R500
  • Maximum loan amount: R300 000
  • Monthly instalments: You can choose between 12 and 72 months to repay your loan. Each instalment is debited from your account when your income gets deposited.
  • Interest rates: The Standard bank personal loan interest rate is a maximum of 24.75% (as regulated by the National Credit Act). The APR includes interest plus other costs, such as a monthly service fee and a once-off initiation fee.

To make things, a little clearer here’s a useful example:

  • Let’s say you take out a loan for R36 000, which you decide to pay back over 36 months. With an interest rate of 24.75%, your monthly instalments will be R1 412 each. This includes an initiation fee of R1 207.50 (inclusive of VAT) and a monthly service fee of R69.

To help you calculate your estimated monthly repayments (depending on the loan amount and term you choose), use our personal loan calculator, which you can find here.

How do I make a Standard Bank online loan application?

For Standard Bank customers, a Standard Bank online loan can be accessed in two ways:

  • Through Banking App
  1. Open the Standard Banking App on your phone or tablet and sign into your account.
  2. Click on “More” and next on “Open a new account.”
  3. Now click on “Personal Lending” to see the amount you qualify for.
  4. Finally, follow the simple instructions provided. If you are approved, the money is then transferred into your bank account.
  • Through Internet Banking
  1. Log into internet banking on your computer to apply online.
  2. Click on “Borrow.”
  3. Finally, follow the simple instructions provided. If you are approved, the money is then transferred into your bank account.

If you’re not a Standard Bank customer, here’s how you can apply:

  1. Start your online loan application on the Standard bank website
  2. Click on “Do I qualify?” to check the maximum amount you can apply for.
  3. Enter your details on the form that comes up and click on “Submit.”
  4. Representatives from Standard Bank will call you back so you can complete the process.

Check back on the “What do I need to apply?” section in this article to see which documents will be required when you visit your nearest branch as part of the application process.

Why choose Standard Bank for your personal loan?

  • Standard Bank is a licensed credit provider with National Credit Act registration;
  • you get low and personalised interest rates that are fixed throughout your loan term;
  • affordable monthly instalments
  • you can make extra payments and pay off the loan early without a penalty fee;
  • easy payouts; and
  • your loan payments are automatically deducted from your account through a debit order which makes repaying the loan easy.

More about Standard bank loans

Standard bank also offers the following loans:

  • Standard bank revolving loan

The Standard Bank revolving credit personal loan allows you to get the money you need at any time. In turn, you pay back 15% of your loan.

  • Standard bank study loan

Get help with your education via the easy Standard Bank student loan application.

  • Standard Bank instant loan

This is in the form of an overdraft that is instantly accessible.

  • Standard Bank Consolidation loan

This helps you to consolidate your debt under one account.

Standard Bank online loan application

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