Have you been searching high and low for a loan that gives you optimal flexibility such as increasing your loan? With the variety of options carried by Standard Bank, you may now stop your search and look at what the bank has to offer. Read on to know more about the best loan for your needs.
Standard Bank Online Personal Loan Features and Benefits
Standard Bank’s Revolving Loan is perfect for customers in need of easy funding without being too strict. To start, you will be glad to know that the possible loan amount you can get is significant (R 500 to R 300,000). If you find your initial loan insufficient for your needs, you can request for an increase, given that you have repaid at least 15% of the original amount. This offer is quite flexible to the point that you can decrease your loan based on your needs.
Getting a Standard Bank Online Personal Loan
With such an attractive offer, you might think that Standard Bank will make applying for this worthwhile loan a lot more difficult. If so, you will be surprised to know that their Revolving Loan is accessible and getting this loan is an easy and convenient process. If you are interested in availing this loan to fund your needs, just head on to their website and make sure that you are eligible.
First, you should be 18 years or older with a valid South African ID document or smart card. Moreover, you should be a legal South African resident with proof of residence not exceeding three months. To ensure that you can make consistent payments, the bank requires a minimum monthly income of R 8,000. Keep in mind that you will need to present your 1 month’s payslip along with bank statements reflecting the last three months (for non-Standard Bank clients).
You can get a loan between R 500 and R 300,000 maximum repayable within 12 to 72 months. Once you send your online application, a representative will get in touch with you and you can expect to have your additional funds in your bank account after approval.
Standard Bank Online Personal Loan Fees and Charges
When you get this loan, you should be ready to pay fees and charges, accordingly. For your interest rate, keep in mind you will be assigned one based on your loan amount and term, as well as your financial and credit standing. So, if you get a loan of R 500 repayable within 12 months, and you are assigned an interest rate of 20.5%, you will be paying R 129 monthly with total interest and fees of R 86.
The best thing about this option is that you can settle your loan anytime you want without worrying about penalties.
With such a flexible loan, Standard Bank Online Personal Loan is a great choice for an easy, accessible and hassle-free loan. If you are interested in getting the Revolving Loan, head on to their website and start your application today.