Standard Bank Revolving Credit Personal Loan

Standard Bank Revolving Credit Personal Loan

A Revolving Loan gives you access to money whenever you need it without having to reapply for credit – you simply need to repay 15% of your loan.


HOW IT WORKS

  • Apply for a Revolving Loan via Internet Banking or on the Banking App
  • Once your loan has been approved, the funds will be paid straight into your bank account
  • 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
  • We offer optional loan insurance in the event of disability, retrenchment, dread disease or death

WHAT IT COSTS

  • Your repayment amount doesn’t change, enabling you to budget effectively 
  • Monthly service fee: R69
  • Once-off initiation fee: Up to R1207.50 (VAT included), depending on your loan amount
  • Personalised interest rate

Change your limit on Internet Banking:

  • Sign into Internet Banking to change your Revolving Loan limit
  • 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


Change your 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*

* Approval is subject to credit checks and Financial Intelligence Centre Act (FICA) requirements.

Get access to your funds again when you’ve repaid 15% of your loan with the option to increase your original amount over time.

Internet Banking:

  • Sign into Internet Banking
  • Click on the “Borrow” tab
  • Complete the affordability assessment and follow the simple steps
  • If your Revolving Loan has been approved, you will receive a final offer
  • Accept the offer

Banking App:

  • Sign into our Banking App
  • Tap on the “More” tile
  • Select “Open a new account” and then tap on “Personal Lending”
  • Navigate to “Revolving Loan” and tap on “See what you can get”
  • Complete the quick application

Cellphone Banking:

  • Dial *120*2345# on your cellphone
  • From the menu, choose option 3
  • Follow the easy steps 
  • You will receive an SMS on whether your application is successful
  • One of our agents will then get in touch with you to proceed

What you’ll need:

  • Valid South African ID or Smart card
  • Be 18 years or older
  • Proof of residence not older than 3 months
  • 1 Month’s payslip
  • The latest 3 months’ bank statements, if you don’t bank with us