Standard Bank Personal Loan
Premier personal loans up to R300,000
Standard Bank is one of Africa's largest banks, offering personal loans to help you finance life's big moments - from home renovations to debt consolidation.
With competitive rates starting from 11.75% and loan amounts up to R300,000, Standard Bank is a solid choice for customers with good credit profiles.
Quick Facts
Loan Amount
R2k - R300k
Based on affordability
Repayment Term
12 - 72 Months
Up to 6 years
Interest Rate
From 11.75%
Variable or fixed
Key Features
Fixed or Variable Rate Options
Choose a fixed rate for predictable payments, or variable rate linked to prime for potentially lower costs when rates drop.
Quick Online Approval
Existing Standard Bank customers can get approval in minutes through the app or online banking.
Credit Life Insurance Included
Your loan is covered in case of death, disability, or retrenchment at no extra cost.
UCount Rewards
Earn UCount reward points on your loan that can be redeemed for cash or shopping vouchers.
Interest Rates & Fees
| Fee Type | Amount |
|---|---|
| Interest Rate | From 11.75% - 27.75% p.a. (based on credit profile) |
| Initiation Fee | Up to R1,207.50 (once-off) |
| Monthly Service Fee | R69 per month |
| Credit Life Insurance | Included (compulsory) |
* Your actual rate depends on your credit score and affordability assessment. Standard Bank customers typically get better rates.
Example: What Will You Pay?
Here's an example of a R50,000 loan over 60 months at 15% interest:
Loan Breakdown
* This is an estimate. Use Standard Bank's online calculator for an accurate quote.
Requirements to Qualify
Basic Requirements
- South African citizen or permanent resident
- 18 years or older
- Permanently employed
- Minimum income of R5,000 per month
- Good credit record
Documents Needed
- Valid SA ID document
- Latest payslip
- 3 months bank statements
- Proof of residence
* Existing customers may need fewer documents
How to Apply
Online Banking / App
Existing customers can apply through the Standard Bank app or Internet Banking. Get pre-approved offers instantly.
Website
Visit standardbank.co.za and use the loan calculator. New customers can start their application online.
Branch Visit
Visit any Standard Bank branch with your documents. A consultant will assist with your application.
Call Centre
Phone 0860 123 000 to speak with a consultant who can process your application.
Pros and Cons
Pros
- Competitive interest rates from 11.75%
- Large loan amounts up to R300,000
- Fixed or variable rate options
- Quick approval for existing customers
- UCount rewards on your loan
- Credit life insurance included
Cons
- Higher minimum income requirement (R5,000)
- Best rates only for excellent credit
- Monthly service fee of R69
- May require Standard Bank account
- Strict affordability assessment
Important Information
- • Standard Bank is a registered credit provider (NCRCP 15).
- • Interest rates are risk-based - the better your credit score, the lower your rate.
- • You have a 5 business day cooling-off period to cancel without penalty.
- • Never pay upfront fees for a loan - this is a scam warning sign.
Frequently Asked Questions
Can I get a Standard Bank loan if I'm not a customer?
Yes, but you may need to open a Standard Bank account. Existing customers get faster approval and potentially better rates.
How long does approval take?
Existing customers with pre-approved offers can get instant approval. New applications typically take 24-48 hours.
Can I pay off my loan early?
Yes, you can settle early with reduced interest charges. Contact Standard Bank for a settlement quote.
What credit score do I need?
Standard Bank doesn't publish minimum scores, but a score above 650 typically qualifies for better rates. Below 600 may result in decline or higher rates.