Standard Bank Term Loan: the requirements for borrowing without collateral

You don't need collateral. Your income, existing commitments and credit history matter when the bank decides your loan amount.

Term Loan (Standard Bank)

You need a valid South African ID or Smart card and proof of residence no older than 3 months. You must be at least 18 and earn R3 000 or more monthly.

How Standard Bank assesses your request for a loan without collateral

Borrow R1 000 to R300 000, based on income, affordability after other commitments and credit history. Choose 12 to 84 months; the term cannot change after approval. Terms apply.

You borrow a set amount, with no increase after approval and repayments begin. Approval depends on affordability and credit risk checks.

CHECK YOUR TERM LOAN ELIGIBILITY

What the repayments add up to over the full term

Illustrative, not contractual: R30 000 over 36 months at R1 423 monthly totals R51 228. It includes R69 monthly service and R1 207.50 initiation with VAT. Your repayments may vary.

Standard Bank sets a fixed interest rate by credit history and score. Instalments include insurance and service fees. Pay initiation separately or add it to the loan.

What you need for your Term Loan application

You don’t need a Standard Bank account. Have these items ready.

  • Be at least 18 and earn R3 000 or more monthly.
  • You need credit life insurance.
  • Use valid SA ID or Smart card and address proof up to 3 months old.
  • Bring a month’s payslip and 3 months’ bank statements.

Your route to applying for a Term Loan

  1. As a customer, apply in the app or online.
  2. New clients use Do I Qualify, then Call Me Back.
  3. The bank calls new customers to finish the request.
  4. In the app, give gross income and total expenses per month.

Questions you may still have

What happens to my Term Loan if I miss a monthly repayment?

If you miss a monthly repayment, your Term Loan goes into arrears. This may negatively affect your credit score.

Can I arrange my own credit life insurance when applying in the app?

When applying in the app, you can decline the bank’s credit life insurance. You must then arrange your own cover.

Can I save my loan offer and choose a smaller amount?

In the app, select SAVE FOR LATER to keep your offer for 7 days. You can also choose less than the amount offered.

When will my Term Loan money be ready to use?

Once approved and finalised, funds reach your transactional account immediately. Online Banking requires offer acceptance.

START YOUR TERM LOAN REQUEST