Standard Bank Loan Requirements
What are the Standard Bank loan requirements? Standard Bank is South Africa’s biggest bank in terms of financial muscle. They may lag behind Capitec when it comes to the number of customers, but they are far ahead when it comes to tier 1 capital. You are probably here because you are a Standard Bank customer and you wish to apply for a loan from the bank. Or maybe you bank with another bank but you now wish to get a loan from Standard Bank. There are certain thresholds that you are going to have to meet before they can give you the money that you are looking for. So, what is it that you need in order to borrow money from Standard Bank in South Africa?
Requirements to borrow money from Standard Bank
The following are the Standard Bank loan requirements;
- You need to be over 18.
- Have a South African ID book or card. Foreign nationals legally in South Africa can present their passports.
- Your payslip. This should be no more than 3 months old.
- Proof of residence. This can be your utility bill or some other document bearing your address. You can also use a bank statement from another bank as proof of residence. This document needs to be no more than 3 months old.
- A recent bank statement going back 3 months.
Types of loans that are available at Standard Bank
Generally speaking, those are some of the Standard Bank loan requirements. Please note, however, that these requirements will be different depending on the type of loan that you are applying for. They will also be different depending on the method that you are going to use to apply for the loan. But what type of loans are available at Standard Bank?
- Personal loans
- Home loans
- Pension-backed housing loans
- Vehicle financing loans
- Student loans.
Learn how to activate a Standard Bank card for international use
Factors that determine how much you are going to get
In this article, we have shown you the Standard Bank loan requirements. Standard Bank currently offers personal loans of up to R300 000 to people. But what factors determine whether or not you are going to get a loan? What determines how much you are going to get?
- You credit score.
- How much you earn per month.
- NCA requirements.
Can I apply for a Standard Bank loan if I don’t bank with the bank?
If you are not a Standard bank customer, can you apply for a loan from the bank? The good news is that yes, it’s possible to do so. You will have to reach out to the bank to get help in this regard. The requirements when doing so are similar to the ones that are given above. Additionally, you are required to provide an ITA34 certificate from SARS. In this case, you will have to apply for a loan at a nearest Standard Bank branch.
Summary
In this article, we gave you the Standard Bank loan requirements. It was noted that Standard Bank is one of the giants on the South African banking scenes. The bank offers a wide range of loans. These are available to both customers and to non-customers. In order to apply for one, there are certain requirements that you are going to have to meet. The amount that you get also depends on a number of factors. You can click on this link to check whether or not your qualify for a Standard Bank loan.
Here is the Standard Bank call centre number