Have your Standard Bank Online Loan in 4 steps | Quick Approval
If you live in South Africa and want to request an online loan you may want to consider Standard Bank. Here we will tell you the 4 steps you need to take to get your online loan at Standard Bank with quick approval and all related information which will help you in this process.
1 How can I get a Loan from Standard Bank?
Getting a loan from Standard Bank in South Africa is easy. The first thing you need to do is thinking what kind of loan you need. Standard Bank offers different lines of loans like business, personal, corporate or vehicle loans. When you have made your mind about what loan to apply for, you can start your loan application. You can use our loan calculator and quote through our platform. Depending on the loan you’re seeking you may be able to be pre-approved online.
2 How do I Know if I Qualify for a Loan at Standard Bank?
Loan qualification may differ based on the type of loan. So, for starters, you need to make a decision regarding the loan you need. Do you need cash to buy furniture for your house? Do you wish to pay off your student loan? Ask yourself these questions and in this way you will be able to narrow your search down. But generally, qualifications for loans are as follows:
Residing in South Africa
Having eighteen years of age or more
Proving that you have a good credit history
Where Can I find an Affordability Calculator to See if Standard Bank Personal Loan is Good for me?
When we decide that a loan may be the solution to our problems, we need to make sure we will be able to pay it back. This is extremely important because if you’re not able to pay off your debt, you may end up in deeper problems with which you started. Fortunately, we have a Loan Calculator you can use to simulate your debt and see if you will be able to make the monthly payments until cancellation. Also, our calculator allows you to compare loans from different banks.
3 Does Standard Bank Offer Loans for Self-Employed Individuals?
Not being formally employed may, sometimes, become an issue when requesting for credit or loans. When you don’t have a pay slip certifying that you earn certain amount of money every month, the Bank has no guarantees as to if you will be able to pay for the loan. However, if you own a business and are able to account for your incomes through your bank statements and have a clear credit history, you might be able to apply for a loan with Standard Bank.
4 Which Telephone Number should I Contact to Request a Personal Loan at Standard Bank?
If you have a question or are in doubt about which type of personal loan is best for you, you can contact the bank on 0860 123 000. But, we strongly encourage you to leave your comments or questions below so you can have a more objective answer. Besides, other people may benefit from knowing your questions, and in this way we’ll be able to build a community.
2 Things you Need to Know about Standard Bank Personal Loan Interest Rate
We’ll tell you 2 things you need to know about interest rate for personal loans at Standard Bank that may help you out.
As in any bank, interest rate at Standard Bank will depend on your specific situation. Information such as how much you earn monthly, your credit history, among other details will determine the rate Standard Bank can offer you.
If you want to know how convenient Standard Bank loan rates are in comparison to other banks, you can resort to our easy-to-use Personal Loan Calculator. All you have to do is enter the amount of money you want to borrow and the time period in which you’d want to repay it, and then click on “find rates”.
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How does Standard Bank ATM Loan Work?
An ATM Loan is a temporary loan you request from an ATM. If you are approved, the money is accredited into your bank account right away. These kinds of cash loans are really simple since no application form is needed. However, for the moment, Standard Bank does not offer ATM or Temporary Loans in South Africa. But they do have a great array of convenient loans with simple application processes from which you can choose. Keep reading to find out which loans Standard Bank offers.
3 Things you should Know about Standard Bank’s Revolving Credit Personal Loan
This type of loan allows you to ask the bank for a certain amount of money, and once you have paid back a part of the loan, you are able to ask for more money.
1. How does a revolving loan work at Standard Bank? Standard Bank gives you the opportunity of withdrawing more funds once you have cancelled 15% of your loan, and it even lets you extend the amount of money of the original loan.
2. How much money can you borrow? At Standard Bank you can borrow up to 300 000 Rands. How cool is this? Besides, Standard Bank offers up to 60 months for you to repay your loan.
3. Are there income requirements and how does interest rate work? If you wish to request a Revolving Loan to Standard Bank, you should at least earn 8 000 Rands a month. With regard to interest rate, as at every bank, it will depend on your income and your credit history, among other factors.
Does Standard Bank Offer Consolidation Loans?
When we talk about consolidation loans, we mean a loan that allows you to combine different loans you may have into one. In this way, you only have one installment to pay, only one interest rate, and only one creditor to pay to. For example, you can consolidate your student loan, your credit card bills, among other loans and expenses.
Standard Bank offers consolidation loans for you to combine different loans you may have into one. This new loan will be more manageable since you will only have to deal with Standard Bank.
This bank does not have a consolidation loan calculator, but, as pointed out above, you can use our loan calculator to know more or less how much you will end up paying and at what approximate interest rate. .
At Standard Bank, you cannot apply for this type of loan online. As we mentioned above, you should contact the bank or the employee who manages your account.
Can I ask for a Secured Loan at Standard Bank?
A secured loan is one where you provide collateral to guarantee that your loan will be paid off. For instance, you may use your house as collateral. Secured loans offer banks a guarantee that you will pay the money you borrowed.
Standard Bank offers this type of arrangement to their clients. A home loan, for example, is a kind of secured loan. The bank will lend you money if you put your car or your pension fund as collateral.
2 Pros of Standard Bank’s Agricultural Loans
This line of loans for the agriculture sector is really convenient. You can use this loan to finance the expenses related to your crop season. To cite an instance, you can ask for this loan to buy the seeds you want to crop for the season. Here are 2 benefits you’ll get if you ask this loan at Standard Bank:
Flexibility. You can either repay your debt in installments or pay the full amount when the season is over.
Handiness: you will have the cash credited in your bank account.
In this article, you learned how to get an online loan at Standard Bank. Now you are also familiar with different types of loans offered by this bank in South Africa.
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Questions and answers
Can I get I loan if my salary is 5000 per month?
If you earn R5,000 per month, you might be able to ask for a loan at Standard Bank provided that you have a satisfactory credit record. If you do not bank at Standard Bank you will be able to ask for a loan. However, you will need to provide the bank with your latest three bank statements and your payslips.