Personal Term Loan

Personal loans are suitable for financing large payments or purchases, such as appliances, furniture, school fees, or if you require credit over an extended period.

  • Features

    Amount you could qualify for
    • The minimum amount you may borrow is R3000 and the maximum is R80000;
    • The amount you qualify for depends on your income and your credit risk;
    • Your credit risk is determined by the information held with credit bureaus, the way you maintain any existing Standard Bank accounts and your personal circumstances.

    Repayment period
    • The minimum installment amount remains fixed for the duration of the loan;
    • The minimum repayment term is 12 months and maximum term is 60 months;
    • The installment amount is recovered from your transaction account through a debit order and the repayments will be aligned to your salary frequency i.e. fortnightly, weekly or monthly;
    • The repayment period of the loan will be shortened by deposits made in excess of the minimum installment amount required.

    • Credit life insurance is compulsory for the AccessLoan product. Standard bank offers the Debt Protection Plan which covers you for death (natural or accidental), disability (temporary or permanent) and retrenchment;
    • The associated premium is included in your installment calculation;
    • Any policy other than the Debt Protection Plan may be used, provided that the policy provides similar cover.
  • Qualifying criteria

    To qualify for a AccessLoan, you need to:
    • Be a South African citizen with valid South African identification;
    • Be between 18 and 65 years old;
    • Have a transactional account, with either SBSA or other banks, into which your salary is deposited;
    • Be formally employed;
    • Earn a minimum gross monthly salary of R3000 ( This is R692 per week for Weekly earners and R1385 per fortnight for Fortnightly earners) .
  • Rates & fees

    Interest rate
    • The interest rate offered will be based on your credit risk;
    • The interest rate on your l loan is fixed and is regulated by the National Credit Act. This means the maximum rate that can be charged on your loan is capped at the maximum as determined by the act;
    • Interest payable is calculated on your daily outstanding balance but charged to your account once fortnightly, weekly or monthly depending on your payment frequency.

    • All fees charged are regulated by the National Credit Act and will not exceed the limits as determined by the act;
    • A once-off initiation fee will be levied on your account at origination; thereafter a service fee will be levied fortnightly, weekly or monthly based on your repayment frequency.
  • Apply

    To process your loan application, we will need:
    • Your valid South African identity document;
    • An original recent payslip not older than 60 days ( for fortnightly and weekly earners, a month worth of payslips);
    • 3 months bank statements for Non-SBSA transaction account holders;
    • Proof of your physical address, for example, a utility, cell phone or store account bill, or your current lease or rental agreement.

    To apply for a AccessLoan visit your nearest Loan Center or branch

    To find out more about the AccessLoan

    Call our share call number 0860 123 000 or visit your nearest loan center or branch. To find your nearest loan center or branch, click here



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