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Can Foreigners Obtain Standard Bank Loans? Tips and Requirements

    You probably are aware of the fact that foreigners sometimes find it hard to get the money they need when they are living in another country that is not their own. For that reason, if you are a foreigner and you are interested in obtaining a loan, you should keep on reading this article, as I will give you the solution, Standard Bank.

    I will divide this post into three sections. In the first section, I will give you some tips you should bear in mind at the time of applying for a loan in South Africa. In the second section, I will give you information about two loans that are the most typical loans granted to foreigners. Finally, I will give you contact details of Standard Bank in South Africa so that it is pretty easy for you to get in touch with them.

Let’s start with some tips:

-It is very important to find the right banking institution to grant you the loan, so that you are appropriately guided by their representatives through the application process. The importance of that has to do with the ability to find the perfect deal and at the same time being able to negotiate the fees you will pay each month.

-In some cases the requirements will be to pay at least 20% of the total value of the loan in advance, which turns into a down payment.

-You need to submit documentation with data about your monthly expenses, your monthly income, your credit score with another institution and you should also put forward a reference letter by another bank. This is a good way through which Standard Bank can get to know in detail who the client is.

-You will need to submit documentation such as you Passport and your Visa, which are proofs you are residing now in South Africa. So, it is needed a copy of both of them.

Now, let’s focus on the loans foreigners can obtain: Personal Loans and Home Loans.


     The main objective of this loan is that the client can take care of any personal need, such as their holidays, their education, their house and their debts and expenses.

The interest rates corresponding to Personal Loans are typically very competitive, so you can expect them to be lower than the ones proposed by other banks. And, you will be requested to make monthly payments.

The main advantage of a Personal Loan is that the application procedure is the fastest of all.


     This is an opportunity for foreigners that would like to have their own house in South Africa or simply buy a property in order to rent it on a monthly basis. You can be granted a maximum of R 100 000 and you can finance it in convenient periods that consists on a maximum of 20 years or a minimum of 10. The interest rates tend to be set by the bank and will be fixed, so they will not suffer changes with the passing of time.

Regarding its requirements, the bank will request that you acquire their insurance named Credit Life Insurance, which will give you complete protection against any type of accident or damage. I strongly advise you to take advantage of that insurance since it will help you whenever you cannot pay the fees due to your health.

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Another requirement is that you ask for the loan on your own and not in representation of your business or company and that you are at least 18 years old, which as you know is the majority of age required by banks.

Your income is going to play a crucial role at the time of applying for this loan: earning at least R 3 5000.

Finally, you will be requested to open a checking account with the bank, where you will receive the money granted and you will need to finance a Home Insurance in order to guarantee that the house you are acquiring is totally protected against personal accidents and damages.

If you would like to obtain a Home Loan, you can dial up this number from home: 0860 500 000. Thus, you can contact their representatives on the phone. That number is available every day from 09:00 am to 05:00 pm. Or, you can visit the bank´s physical offices, so you will need to find the nearest one.

How can you contact Standard Bank?

-In person

     There is a branch specifically situated in  Corner Duxbury And Lynnwood Road, Hillcrest Boulevard - Gp, Hillcrest, Pretoria, City Of Tshwane, 0001, South Africa. You can call this office by dialing up 27 860 123 000. This office opens Mondays from 8:30 in the morning to 03:30 pm and Tuesdays to Fridays from 08:30 am to 03:00 pm. It also functions on Saturdays from 08:30 am to 11:00 am.

You will find another branch if you go to Heerengracht St, Foreshore, Cape Town, 8001, South Africa. Its telephone number is 21 401 2311. This office opens during weekdays from 09:00 am to 03:30 pm and also on Saturdays from 09:30 am to 11:00 am.


     You can try Standard Bank´s website if you want to obtain more details about the loans explained above, regarding features and requirements. And, you can also their calculator there so as to know your affordability.

 -By phone

     There is a free telephone number you can call if you have general inquiries or you wish to apply for a Home Loan or a Personal Loan. This number is available 24/7 so you can call anytime no matter the day. Such number is 0860 123 000.

     To conclude, foreigners that are currently in South Africa and are looking for financial solutions, can obtain the money thanks to Standard Bank. They have the same possibilities in terms of lending programs as South Africans. Try this bank and see how easy it is to obtain the funds you need in another country!

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Questions and answers

I am a Malawian who has a permanent resident permit. I've just opened a bank account at FNB, how long does it take for me to apply for a loan?

In order for you to request a personal loan as foreigner at FNB, you will need to have a regular source of income. For the bank to know for sure that you have this income every month, they will ask you for your latest payslip and your last three bank statements. So, you might be able to request for a loan at FNB within three months.

I tried to apply for a loan today, but I was denied, can you please assist. I don't have a work permit but use a study permit and have been working for 3 years with minimal expenses. I don't understand.

Probably the fact that you do not have a work permit was the reason for the loan rejection at Standard Bank. Also, you say you earn minimal expenses; perhaps your salary does not meet the minimum income requested by this bank. If this problem persists and you need cash, you could consider pawning a valuable item. Please visit our articles on the subject so that you know which companies are reliable.

How do I get to know my credit score as temporary resident.

If you are a newly come temporary resident, you might have no credit score at all. If you have already been banking in the country you might check your credit record just like any other South African. Besides, when you ask for a loan at a financial institution, they will also check your credit history.

Any branch of such assistance in Durban?

There are many branches of Standard Bank in Durban where you can go if you have any need for assistance as a foreigner. For instance, you have one just across the Hollywoodbets Kingsmead Stadium. You will also find a branch near the Durban Botanic Garden and another one close to the Farewell Square.

I wonder why foreigners are not getting loans in South Africa from banks? However, those banks allow foreigners to open accounts in South Africa. But why not getting a loan?

When banks issue loans, they charge for that service. Because they need to make profit out of this business, they put emphasis on making sure applicants will cancel the entire debt. The problem with foreigners that don’t own a valid SA permanent residence is that the bank can’t calculate their affordability as they don’t have a credit score to keep an eye on previous loans they took and, evaluate if they would have a responsible payment. That’s one of the main reasons why it’s so difficult for foreigner to get a loan approval in this country.

I’m from Zimbabwe and I work in South Africa. I want to open a bank account to get a loan

if you need to open a bank account with Standard Bank, you can do it as longs as you can prove your monthly salary. Nonetheless, this account won’t mean you qualify for a loan if you are not a South African citizen. What’s more, Standard Bank will accept to open your account but, they would probably reject your loan request as, they don’t tend to lend money to citizens that don’t own their valid South Africa Identity Document.

Is mobile banking available?

Yes, in the bank´s webpage and app

Hi, I am South African and my boyfriend is a foreigner, he wants to buy me a house. Do we qualify? He has a work permit

He will sure find it difficult to get financial help, like a loan, due to he being a foreigner and not having permanent residence. Unfortunately, a work permit is not enough to be seen as a possible client for a loan. You will have to try to get another solution like, for instance, analyze the chance you have, as a South African citizen, to get the loan approval.

I'm a foreigner nation with a passport with a work permit and a I use Standard Bank account since 2010 but if I want a loan, they don’t accept it.

Although you’ve banked with Standard from some years past, they are not among the companies that lend money to foreigner, unfortunately. All the same, you can try other lending entities that are willing to study your case to see if you qualify, regardless of your nationality. For example, FNB will take you into consideration if you have a permanent resident in this country.

I don't have any shopping account but I need a loan as a foreigner in standard bank

Unfortunately, Standard bank won’t accept your loan application if you aren’t South African. Even though this company works with foreigners, they do so only with products such as saving accounts or investments accounts, for instance. But, they don’t issue loans to non-nationals citizens. In fact, banks that do work with foreigners request them to have a valid document proving they have permanent residence in South Africa, before granting the money.

Can I get a loan here in South Africa as a foreigner?

Before a bank issues a personal loan, they study the client’s credit history to be sure they would make their best to repay it properly. What happens with foreigners is that banks can’t evaluate that point. So, if you are trying to get a personal or home loan, you’ll probably get a lot of difficulty on this. However, you may try building your credit history with short term loans, like, payday loans, first in order to show entities you’re capable of repaying.

How can I get quotes?

You can call the bank

I’ve been banking with standard bank for seven years now, I'm using a work permit, and now I need to apply for a personal loan to clear some obstacles. All my documents are in good order. Is it possible for me to get a loan, and what are the complete requirements for me to qualify?

We know for sure Standard Bank takes it serious to help non-South African citizens to manage their salary in this country; however, when it comes to offering loans, they have a different look. With this particular product, lending entities find it hard to rely on foreigners, just because foreigners usually lack of credit score. If, through these years, you’ve been taking loans for small credits, for example, and you’ve managed to build that credit score, you may have a chance to get a bigger loan now.

Can I apply for a loan by using my passport?

Yes! If you do not possess or you have lost your current SA ID, your passport can serve its function as it indicates you are a south african citizen and currently live in the country

Will I be accepted for a loan by using my passport?

There are some entities that will accept your passport to give you a loan, together with other documents proving certain information like, you currently live in South Africa, for example. All the same, the confirmation of your request would be done after checking your past history taking loans, what’s known as Credit History. Here’s when it may get problematic to be granted a loan if you haven’t built that score with small quote loans before.

Hi I'm from Lesotho and I’m your client, can I get loan?

Being a Standard Bank’s client does not mean they will accept to issue a loan on your behalf unless you meet all the requirements. One of those requirements is that applicants must be South African citizens and, to present valid documents granted by the government of South Africa to prove this point. So, if you have your SA ID, you are more than welcome to apply to see if your affordability authorizes you to get the loan.

Can I send a message to the bank, such as an email?

Yes, you can do that in the bank´s official website.

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