Standard Bank South Africa offers one of the most comprehensive personal loan products on the market. You can apply for a loan amount from R3,000 up to a maximum of R300,000, granted based on your affordability and credit profile. Repayment terms are flexible, ranging from 12 up to 84 months. Rates are personalised and could go as high as prime plus 17.5%, as regulated by the National Credit Act. Monthly service fees (currently R69) and a once-off initiation fee (between R419.75 and R1,207.50) apply.

How to Apply: Step by Step

1. Check if you meet the minimum income requirement (R3,000 or R8,000, depending on loan type).
2. Calculate your estimated repayment using the bank’s loan calculator.
3. Prepare the required documents: South African ID, proof of income, and bank statements.
4. Apply via internet banking or the Standard Bank mobile app.
5. Wait for a personalised offer and confirm your acceptance if happy with the terms.

Highlights: Main Pros

One of the most significant advantages of Standard Bank Personal Loans is the fast, hassle-free online application process. You can receive a customised quote within minutes.

The flexible repayment terms (between 12 and 84 months) make it easier for borrowers to adjust their monthly payments to fit their budget.

Considerations: Main Cons

Interest rates are personalised but can be high, particularly for riskier borrowers—it pays to have a good credit record.

Monthly service and initiation fees can add to the overall cost of the loan, so applicants should review the total repayment carefully before confirming.

Our Verdict

Standard Bank Personal Loans are a strong option for South Africans seeking flexibility and quick access to funds. Their simple online application and offer of loan customisation suit a wide range of borrowers. Review your finances and terms before committing, but if you qualify, this loan is among the top personal finance choices in SA.