Updated 01.10.2021

Standard Bank Consolidation Loans

The Standard Bank Group of South Africa Limited is Africa’s biggest lender by assets, with a market cap of roughly R318 billion (USD23 billion). It was developed in 1863 and was famous in financing the diamond fields of Kimberley in 1867. They offer varying types of loans and related financial services across sub-Saharan Africa regions. Their entire business model is based on trust, integrity, and respect.

Debt Care Centre

Standard Bank Debt Care Centre has been setup to help those in financial distress. They offer a number of debt relief solutions in the form of payment holidays or a debt consolidation loan.

Payment Holidays

A payment holiday is the temporary freezing of your monthly repayments on an account. This means that you don’t need to make the monthly repayment on the regular due date, but the account continues to accrue interest and charges. This is often used for credit card debt.

Consolidation Loans

A consolidation loan means entering into a new loan agreement to pay off a number of smaller debts. All of these debts are merged into a solitary, now larger debt, with more favorable pay-off terms, such as friendlier interest rate or lower monthly payment for both.

Why Consolidate your Loans?

Depending on your financial situation, debt consolidation is often the only answer to unmanageable debt payments. This will help customers keep up with their credit rating and fulfil their credit agreement.

Benefits of Debt Consolidation

  • One single payment each month instead of multiple individual repayments
  • Only one interest rate is payable, to give you lower monthly repayments
  • Straight forward debt management with just one payment to make each month, this can improve your credit rating instead of missing or late payments

Consolidating your debt with a loan at Standard Bank

Get a personal loan of up to R300,000 so you can start managing your debts. Standard Bank will provide a debt counselor to help tailor a unique and simple payment agreement from all the involved creditors. Your loan is insured so you are covered in the event of death, disability or sudden cutbacks.

Apply for a Standard Bank Consolidation Loan

The online application is available 24/7 through Standard Bank’s official website. Complete the details on the loan application form and agree to the repayment terms. Standard Bank’s data is managed securely, so customers can feel free to fill in the application form without worrying about their own security.

To find out if debt consolidation is the right solution for you, get in touch through our Debt Care Centre.

Try the Standard Bank Loan Calculator

Customers can determine their loan repayment beforehand by simply typing in their desired loan amount and loan term in months. They are going to see the first date of payments along with its interest rates and fees. After reviewing the results, customers can ask if they qualify through a series of information requests. It’s pretty easy and quick.