The Standard bank, specifically the South African subsidiary, has some great options if applicants ever consider making a big purchase. If an applicant decide to apply for a loan, there are some requirements before it can be considered.
Applicants name, South African ID number and the income before tax are all relevant parts of information. Some other requirements include applicants proof of residence that cannot be older than three months and the proof of income over the last three months.
The Standard Bank is a company that wants to assist customers, but these are requirements that are necessary because they are providing are large sum of money. Some of these steps are not just to protect themselves. Applying for personal loans can take less than a minute so customers likely don’t need a large sum of time to apply.
Customers can also use a loan for their cars, home, savings and business banking. All of these have their own benefits and they are some of the best loaning deals in South Africa.
Some of these are short term loans that applicants won’t have to pay decades down the line. They also have lower interest rates than most of the competition. The interest rate are much better and customers may like it.. The default is at 17.5% and can be changed depending on customers situation. You may choose your repayment period from 12 to 72 months.
As a representative example, if you borrow R10,000 loan at an interest rate of 20.50% over 3 years the monthly repayment will be R488 with a total amount payable of R17,568. Loan processing fee of R211 isn’t included.
There is also a personal loan calculator on the website to do the math for customers. There are also limits to the amount of money applicants can borrow depending on the category they choose to use. Getting loan from Standard Bank is fast and easy and it offers save up when you apply your personal loan via online.