Standard bank loan requirements typically include proof of identity, proof of residence, income verification, and meeting minimum age and credit criteria[2][4][6].
Common requirements for a Standard Bank personal loan include:
- Valid identification: Such as a South African ID book or smart card[4][6].
- Proof of residence: Recent (usually not older than 3 months)[6].
- Proof of income or employment: Payslips (one to three months), bank statements (last 3 months), or another accepted form of income documentation[4][6].
- Minimum credit score: E.g., Minimum BBI 19 in Lesotho[2].
- Minimum age: Typically 18 years or older[2][6].
- Residency: Must be a permanent resident or citizen of the country where the loan is applied (e.g., South Africa or Lesotho)[2][7].
- Loan-specific requirements: For certain types of loans (e.g., home, property, business) requirements can also include collateral, acceptable loan-to-value ratios, personal guarantees, or specific minimum income levels[5][8].
Additional eligibility conditions, such as the purpose of the loan, are often verified for specialized loan products (for example, business loans, home loans, or investment loans)[1][3][5]. Each offering may also include insurance protection, service fees, and personalized interest rates based on creditworthiness[2][6].
The application process may be completed digitally via internet banking platforms, mobile apps, or manually at a bank branch, and the funds are typically disbursed upon approval[2][4].
References
- [1] 7(a) loans | U.S. Small Business Administration
- [2] Personal Loan | Standard Lesotho Bank
- [3] 2025 pricing guide – Standard Bank Home Loans
- [4] Personal Loans – FAQs | Standard Bank
- [5] Get an international property loan | Standard Bank
- [6] Get a term loan of up to R300 000 | Standard Bank
- [7] THE STANDARD BANK OF SOUTH AFRICA LIMITED (First Time Home Buyer Competition)
- [8] Personal Investment – Standard Bank PLC
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