Standard Bank offers a range of personal loan solutions designed to meet the diverse needs of South Africans. You can access loan amounts up to R300,000 with flexible repayment terms ranging from 12 to 84 months, depending on the loan product you select. Interest rates are personalised, so your rate will be tailored to your financial profile and needs. The minimum monthly income required starts at R3,000 for term loans, going up to R8,000 for revolving and energy loans. Application is quick and easy, processed entirely online via internet banking or the banking app.

Step-by-Step: How to Apply for a Standard Bank Personal Loan

1. Determine your needs and minimum monthly income requirement.

2. Choose your desired loan type and preferred repayment term.

3. Complete your application online or via the Standard Bank App.

4. Submit personal details and financial information as required.

5. Receive an instant quote and, if approved, you will access funds swiftly.

Advantages of Standard Bank Personal Loans

One major advantage is the fully digital application process, enabling you to secure finance without visiting a branch.

Another benefit is the personalised interest rate, which ensures fairness and potentially lower repayments for applicants with good credit profiles.

Potential Drawbacks

Service and initiation fees apply, starting from R69 per month and up to R1207.50 once-off.

Applicants with lower credit scores might receive less favourable rates, raising the cost of borrowing.

Our Verdict

Standard Bank excels in providing accessible, flexible, and convenient loans with transparent processes. If you meet the eligibility criteria and value the ease of a digital experience, it’s a highly competitive option for personal loans in South Africa.