Standard bank loans: Standard Bank is a pioneer in the South African banking industry and is one of the favorite institutions of many South African clients. It offers a multitude of products including personal loans that ease the cash flow situation of many debtors.
These personal loans can be used for many purposes like home remodeling, wedding expenditure, family vacations, etc since they range from R500 and R40,000. The maturity can be up to 42 months which for the convenience of customers can also be extended further. This is evaluated on a case by case basis.
Perhaps the biggest advantage is that the loan terms are fixed and will not be reset if interest rates increase. There are only a few standard requirements for Standard Bank’s personal loan eligibility. You must be a South African citizen of legal age and be formally employed with a minimum salary of R12,000 annually. Hence, it is very easy to transact with Standard Bank and to obtain a loan and benefit from improved quality of living.