standard bank South Africa personal loan Types: How to apply and increase Revolving Loan & Overdraft

Last Updated on November 15, 2022 by admin

The standard bank of South Africa personal loan give you the Leading edge and Convenience to borrow money for your house remodel or buy a car, a home equity loan or an auto loan  debt consolidation, an unexpected medical bill, a new appliance, a vacation for 12 to 72 months  loan duration. You can apply for a minimum loan amount of R3 000 to a maximum loan amount of R300 000.

The  personal loan term ranging from R 3 000 Minimum Monthly Income – R 300 000Maximum loan amount  for 12 to 72 Months to repay  at Personalized Interest rate…The Annual Percentage Rate (APR) for your personal loan is a minimum of 13.25% and Repay your personal loan over 12 months to 72 months – the choice is yours.

Standard bank south Africa personal loan Monthly service fee: R69 Once-off initiation fee: R1207.50 (VAT included). Customers can also increase their loan limits with Revolving Loan, This gives you access to money whenever you need it without having to reapply for credit – you simply need to repay 15% of your loan.

The Revolving Loan ranges from R8 000 as Minimum Monthly Income – R300 000* Maximum loan amount with repayment duration from 12 to 60 months and interest rate is Personalized base on your choice.
credit worthy customers can apply for Overdraft for additional funds when you need them the most; putting financial freedom in your hands from R8 000-R200 000Minimum Monthly Income and it’s monthly repayment is Recurring

The service fees are R69 per month for all loans and once-off initiation fees range from R419.75 up to R1207.50 (VAT inclusive). The bank  loan repayment terms range from a minimum of 12 months to a maximum of 72 months. The interest rates are personalized up to a maximum of 24.75% as per the NCA regulation.
The Annual Percentage Rate (APR) for your personal loan is 17.65% as per the NCA regulation.

How to increase your Revolving Loan or Overdraft limit
If you need extra money you might think of taking out another loan. However, by increasing your Revolving Loan or Overdraft limit, you don’t have to stress about paying off different loans or accounts every month

How to apply for standard bank south Africa online loan

Getting an online loan means you don’t have to make several trips to the branch to see whether you have qualified or not, therefore saving you time and money.You can get an interest rate as low as 13%, depending on your risk profile

How do I increase my existing Revolving Loan limit on Internet Banking?

Sign into Internet Banking
Click on the Borrow tab
Navigate to the Revolving Credit Plan tile and select Increase My Limit
Complete the affordability assessment to see how much you qualify for
If your limit increase has been approved*, you will receive an estimated quote
Select Continue and follow the easy steps to complete the process

How do I increase my limit on the Banking App?

Sign into your Banking App
Tap on the More tile at the bottom of your screen
Select Open a new account
Tap on Personal Lending
Select Revolving Loan
Tap on See what you can get
Tap on Increase Limit
Complete the affordability assessment to see how much you qualify for
Follow the easy steps to complete the process
If your limit increase has been approved, you will receive the money immediately

How do I increase my existing Overdraft limit on Internet Banking?

Sign into Internet Banking
Click on the Transact tab and navigate to Manage
Select Overdraft Limit to change your limit
Alternatively, you can change your limit at AutoPlus ATMs

How do I increase my existing Overdraft limit on the Banking App?

Sign into your Banking App
Tap on your transactional account widget
Scroll down until you see the Overdraft tile
Tap on Increase limit and follow the steps

Standard bank in south Africa offer the following loans

1 Personal Loans
Great option for borrowing money for your needs,such as  holiday or some much-needed home renovations etc

2. Pension-Backed Housing Loans
An alternative form of housing finance, where your loan is secured by your retirement’s saving instead of a bond and  maximum loan term is 30 years or the length of time to your retirement.

3. Home Loans
Home Loan can help you secure your dream home’s financing. Your borrowing amount depends on your monthly income (before tax) and your monthly expenses.

4. Vehicle Financing  offers some extra cash to buy a new set of wheels with over 12 months to five years, or more, to repay your car loan.

5. Student Loans

Student Loan will cover any educational costs, giving you the comfort of knowing funds are available for all your studying dreams.