Get a Standard Bank personal loan verified by our specialists. As of 20.04.2025 there are options available. Increase your chances of approval - fill out an application with a free credit rating check.
Author
Denis Galkin
Fact Checked
Update 01.02.2025
Standard Bank offers a range of personal loans to meet various financial needs, including major purchases, debt consolidation, and home improvements. Loan types include Term Loans, Revolving Loans, Solar Loans, Overdrafts, and Investment Backed Lending, with amounts from R3,000 to R300,000 and terms from 12 to 84 months. Interest rates are personalized, with fixed or variable options. Solar Loans finance solar installations, and Revolving Loans allow flexible re-borrowing. All loans feature clear repayment structures, digital access, and rewards through UCount, making them versatile and manageable for clients.
Key Features
Flexible Terms. Standard Bank allows borrowers to select repayment terms that suit their financial situation, offering durations that range from short to extended periods.
Personalized Interest Rates. Borrowers receive customized interest rates based on their credit profile, helping ensure fair and tailored borrowing costs.
No Early Repayment Penalties. Clients can repay their loans early without additional charges, enabling them to reduce debt faster if they choose.
Fixed and Variable Rate Options. Standard Bank provides both fixed and variable interest rate choices, allowing borrowers to select the rate structure that aligns with their financial preferences and market outlook.
UCount Rewards Eligibility. Certain loan products offer the benefit of earning UCount Rewards points, adding value to monthly loan repayments for eligible clients.
Digital Access. Clients can manage their loans through Standard Bank's online and mobile banking platforms, ensuring convenience and control.
Pros and Cons
Pros
Reliable Bank. Standard Bank’s strong reputation offers stability and trust.
Diverse Loan Options. A wide range of loans, including term loans, revolving loans, and specialized options like solar loans, suits various financial needs.
Investment Backed Lending. Allows clients to use investments as collateral for lower rates, a feature uncommon among other banks.
Cons
Higher Rates for Some Borrowers. Personalized rates can reach high limits for clients with lower credit scores.
Limited Rate Disclosure. Maximum rates aren’t always fully disclosed for loans like revolving loans, making costs harder to anticipate.
Fees That Increase Total Cost. Standard Bank’s initiation and monthly service fees add to the overall borrowing cost, so clients should factor these into their repayment plans.
How to Get a Standard Bank Personal Loan?
Through Our Website
Open your web browser and navigate to finanso.com.
Use the search function on the website to locate information related to the Standard Bank.
Select the Standard Bank from the search results to access their lending services.
Look for the "Apply" button on the Standard Bank page and click on it to initiate the loan application process.
After clicking "Apply," you will be redirected to the official Standard Bank website. This is a secure transition to ensure your personal information is handled within the Standard Bank system.
Click on DO I QUALIFY? to check your eligibility, or sign in to your accounts and log in to your Internet Banking profile.
If you’re new to Internet Banking, select Register for online banking, provide an email address, create a password, accept the terms, and click SAVE.
Once your account is activated, sign in and navigate to the Borrow section.
Follow the instructions to see your Instant Free Quote and check if you pre-qualify.
If eligible, review the list of available loan offers.
Select the best offer and either Start the online application or choose CALL ME BACK to consult with a representative.
Complete the application with all required personal and financial details, then submit it.
Wait for Standard Bank’s feedback, and if approved, the loan funds will be deposited into your account.
Through the Bank's Website
Visit the Personal Loans page on the Standard Bank website.
Click on DO I QUALIFY? to check your eligibility, or sign in to your accounts and log in to your Internet Banking profile.
If you’re new to Internet Banking, select Register for online banking, provide an email address, create a password, accept the terms, and click SAVE.
Once your account is activated, sign in and navigate to the Borrow section.
Follow the instructions to see your Instant Free Quote and check if you pre-qualify.
If eligible, review the list of available loan offers.
Select the best offer and either Start the online application or choose CALL ME BACK to consult with a representative.
Complete the application with all required personal and financial details, then submit it.
Wait for Standard Bank’s feedback, and if approved, the loan funds will be deposited into your account.
At the Bank's Office
Use the branch locator on the Standard Bank website or mobile app to find the nearest branch.
Bring necessary documents: a valid South African ID, proof of residence not older than three months, and recent payslips, three months if salaried, or six months if commission-based.
If self-employed, also bring an ITA34 certificate from SARS and three months of recent bank statements.
Meet with a Standard Bank consultant at the branch to complete the application.
Submit the application in person and wait for feedback.
Via Mobile App
Download the Standard Bank Banking App from the App Store or Google Play.
Set up your profile using your email address and create a password.
Accept the terms and conditions and select SAVE.
You’ll see a Registration Complete screen, confirming your account setup, which can be used for both Internet Banking and the app.
Once confirmed, set up your sign-in method by selecting Setup Sign-In, then click NEXT.
After activation, sign in, click on Borrow, and follow the steps for the loan application.
Alternatively, you can open the app, sign in, and click More.
Select Open a new account and choose Personal Lending to see your loan eligibility.
Follow the instructions to complete the loan application.
Upon approval, the funds will be deposited directly into your account.
Via Cellphone Banking
Dial *120*2345# on your cellphone.
Choose option 3 from the menu to apply for a loan.
Follow the on-screen instructions to complete the application.
You will receive an SMS notifying you of the application’s outcome.
If approved, a Standard Bank agent will contact you to proceed with the final steps.
Requirements and Conditions
Requirements
Age Requirement. Applicants must be at least 18 years old.
South African ID or Passport. Applicants must provide a valid South African ID or passport for identity verification.
Proof of Income. Applicants must submit recent payslips - three months for salaried individuals or six months for those on commission.
Proof of Residence. Proof of residence, such as a utility bill, must be provided and should not be older than three months.
Bank Statements for Self-employed. Self-employed applicants must provide an ITA34 certificate from SARS and three months’ most recent bank statements.
Minimum Income. To qualify, applicants must earn a minimum monthly income: R3,000 for a Term Loan and R8,000 for a Revolving Loan and Overdraft.
Conditions
Loan Amount. Loan amounts range from R3,000 up to R300,000, depending on the applicant’s eligibility and loan type.
Repayment Term. Repayment terms for Term Loans range from 12 to 84 months while Revolving Loans offer terms from 12 to 72 months.
Interest Rate. Interest rates are personalized, with a maximum rate of up to 24.5%, depending on the applicant's credit profile and loan type.
Initiation Fee. A once-off initiation fee applies, up to R1,207.50.
Monthly Service Fee. A monthly service fee of R69 is added to the loan repayment.
Credit Life Insurance. Credit life insurance is mandatory for Term Loans, while optional for Revolving Credit, Overdrafts, and Credit Cards.
Disbursement Time. Funds are deposited immediately if the applicant is a Standard Bank client applying via Internet Banking or the app, while non-clients may experience a 2-3 working day processing time.
Ways to Receive the Money
Upon approval, Standard Bank disburses loan funds directly to the borrower’s Standard Bank account or another designated bank account. Funds are available immediately for Standard Bank clients applying online; for others, the transfer may take 2 to 3 working days.
How to Repay a Standard Bank Personal Loan?
Debit Order. An automatic deduction from your Standard Bank account each month on the due date.
Stop Order. A scheduled payment is set up at Standard Bank or another bank for regular monthly payments.
Additional/Lump-Sum Payments. Extra payments are made via transfer from another bank account or from another Standard Bank account.
Cash Payment at Branch. Payments in cash, including additional payments, can be made directly at any Standard Bank branch.
Things to Pay Attention to
Credit Life Insurance. Standard Bank requires credit life insurance for Term Loans to cover cases of disability, retrenchment, or death, which increases the total loan cost.
Additional Fees. An initiation fee of up to R1,207.50 and a monthly service fee of R69 apply, adding to the total repayment amount.
Payment Schedule Options. Borrowers can choose monthly payments to fit their budget, but bi-weekly options are not offered by Standard Bank.
Fixed and Variable Interest Rates. Interest rates may be either fixed or variable, impacting the predictability of your monthly repayments and overall loan cost.
Early Settlement. Early settlement is allowed without penalty fees, but you must request a settlement quote to confirm any remaining balance.
Editorial Opinion
Standard Bank’s personal loans provide flexible options for various financial needs, with terms from 12 to 84 months and both fixed and variable interest rates. Benefits include penalty-free early repayment, UCount Rewards on select loans, and quick disbursement through digital platforms. However, borrowers should note the initiation fee of up to R1,207.50, an R69 monthly service fee, and mandatory credit life insurance for Term Loans. To maximize value, clients should monitor statements, consider additional payments, and assess the impact of fixed vs. variable rates on long-term costs.
Can I increase my loan amount after it has been disbursed?
Yes, clients with a Standard Bank Revolving Loan can increase their credit limit once they’ve paid off at least 15% of the loan amount. For other loan types, an additional loan application would be necessary.
Is there a way to temporarily pause payments if I face financial hardship?
Standard Bank may offer alternative payment arrangements in cases of financial difficulty, but this depends on individual assessment and requires consulting with the bank.
Does Standard Bank offer any loans specifically for eco-friendly projects?
Yes, Standard Bank’s Solar Loan is designed specifically to finance solar power installations, providing funds for both the system and installation costs.
Are there any loan options with flexible credit access after partial repayment?
Yes, the Revolving Loan allows borrowers to access funds again once they’ve repaid a portion of the loan, without reapplying each time.
Can I apply for a loan increase if my income changes?
If there’s an increase in income or credit profile improvement, clients may request a review to apply for a loan increase or access additional funds, subject to the bank’s approval.
