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How big a personal loan will I qualify for?
We offer a choice of personal loans:
Way to Pay - a once-off loan with a fixed instalment and is repaid over a relatively short period.
A revolving loan - lets you borrow up to your agreed limit once you have paid back 15% of the amount you owe.
An overdraft - a fluctuating loan linked to your current account.
A student loan - is used to pay for your studies. The maximum loan amount we will grant you depends on
your ability to repay it and your credit standing.
For which courses or qualifications can I get a student loan?
Generally, for three-year degrees or diplomas at accredited academic institutions. Other shorter courses may
be considered, so feel free to ask us about them.
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How much will I qualify for?
Subject to limits and based on courses, loans can be granted for up to R60 000.
What can I use the money from my student loan for?
Fees, books, equipment and accommodation.
Will the money for my student loan be paid to me in cash or directly to the academic
institution I am studying at?
The money is paid into your student loan account and can be accessed through a Standard Bank transaction account.
When do I need to start repaying my student loan?
If you are a full-time student you will need to start repaying the loan on completion of your studies.
During your study period, you will be required to pay the monthly interest. If you are a part-time student,
you will be required to repay the loan while you are studying. Grace periods are granted if you have to complete
articles, internships or community service.
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Over what period do I need to pay back my student loan?
The repayment period of the loan will depend on the amount we lend you. The loan repayments will be calculated as a
factor and will be based on the amount borrowed.
| Full-time students |
Part-time students |
| Loan amount |
Factor |
Loan amount |
Factor |
| R5 000 to R15 000 |
1/10th |
R5 000 to R25 000 |
1/30th |
| R15 001 to R30 000 |
1/20th |
R25 001 to R50 000 |
1/40th |
| R30 001 to R45 000 |
1/30th |
R50 001 to R75 000 |
1/45th |
| R45 001 to R60 000 |
1/40th |
R75 001 to
R200 000 |
1/50th |
| R60 001 to R75 000 |
1/45th |
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R75 001 to
R200 000 |
1/50th |
Note: these tables are subject to change.
For example, if the loan amount of a full-time student is R15 000 the repayment will be
R15 000/10 = R1 500 a month over one year
Once the loan is in repayment mode the monthly repayments remain unchanged. If you are a part-time student the monthly
repayment will change whenever you increase the limit on your loan while studying.
One or more of the following will affect the repayment period of the loan:
- Paying more than the minimum monthly instalment
- Fluctuations in the interest rate
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Who qualifies?
- Students studying towards a certificate, graduate or postgraduate degree or diploma at a tertiary
institution that is accredited by the Council of Higher Education or a relevant SETA.
- First-year students with a matric certificate.
- Students who are studying towards a technical qualification at a Further Education and Training college
and who do not have matric will also be considered.
- Students in their second or subsequent years who have passed their previous year of study.
Benefits of a student loan account
- Competitive preferential interest rate
- Non-salaried full-time students are required to pay only interest during their period of study.
Capital repayments commence on completion of studies
- Competitive lending limits to cover your studies
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Requirements to apply for a student loan
You will need to fill in a student loan
application form* and take it to any Standard Bank branch or student bureau.
If you are a full-time student or a minor you will need to have someone who is
acceptable to us to sign as surety.
If you are under the age of 21 and not legally emancipated, your parents or guardian
will need to co-sign the loan and take a copy of their identity document to the branch
when you apply for your loan.
In addition to the application form you and your surety will need to provide us with
the following:
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Full-time student |
Surety |
Part-time student |
| Identity document |
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| Spouse's identity document, if married in community of property |
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| Parent or guardian's identity document, if student is a minor |
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| Latest result |
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| Proof of registration at a tertiary institution |
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| Proof of costs, for example, fees and accommodation |
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| Proof of residential address |
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| Proof of tax number, if applicable |
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| Balance sheet and an income and expenditure statement*, the forms are available from our branches |
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| Proof of income, for example, a salary slip |
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| Three months' bank statements (only if part part-time student or surety doesn't have a transaction account with us) |
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And finally... you are required to have a Standard Bank transaction account to access your money, which
will be transferred from your loan account.
We have a range of transaction accounts for you to choose from.
These include:
- Student Achiever (Link to Student Achiever
- Our range of current accounts (Link to current accounts)
- E Plan (Link to Eplan)
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