Standard Bank Revolving Loan – We all find ourselves in situations where we are need of extra cash. You can alleviate your financial situation by applying for a Standard Bank revolving loan.
A revolving loan is an arrangement which allows the loan amount to be withdrawn, repaid and redrawn again. This arrangement allows for the funds to be redrawn in any manner and nay number of times until it expires.
Standard Bank offers revolving loans of up to R300 000. Repayment terms of up to 60 months are offered.
How much is approved will depend on your credit record and affordability.
Standard Bank is committed to responsible lending. This means they will do credit checks and will only approve a loan that you can afford.
You can get access to your funds again once you have repaid 15% of your loan. There is also an option to increase your original amount over time.
The beautiful thing about a revolving loan is that when you have to redraw some funds you don’t have to apply again.
How Standard Bank Revolving Loan Works
You apply for the revolving loan directly on the Standard Bank website to see if you qualify.
They will call you and finalise your application.
Once you application is approved, funds will be paid directly into your account.
You will be charged personalised interest with fixed monthly repayments.
Should you choose to settle your loan at any time, you will not be charged penalties.
You can increase or decrease your revolving loan amount, depending on your needs.
Standard Bank offers optional loan insurance. This will cover the outstanding amount on your loan in the event of disability, dread disease or death.
Requirements To Apply For A Standard Bank Revolving Loan
- You must be 18 years or older
- A valid South African ID document
- Your latest payslip
- Minimum monthly income of R8 000 per month
- The last 3 months bank statements if you are not a Standard Bank client
- Proof of residence
Standard Bank Contact Details
Telephone: 0860 123 000 / International +27 10 249 0423