Repaying your Standard Bank personal loan
Repayments are collected monthly for the fixed term you selected (12–72 months). Because the interest rate is fixed, your contractual instalment stays constant unless you make additional payments or settle early. All collection methods must comply with National Credit Act debit order rules.
Standard payment channels
| Method | How it works |
|---|---|
| Monthly debit order | Primary collection on your chosen debit date; keep sufficient balance to avoid dishonour fees |
| Online banking transfer | Push extra rand from any linked Standard Bank account using the loan account number as reference |
| Standard Bank app | Schedule ad-hoc or recurring payments from your handset |
| Branch teller | Walk-in cash or account transfer at any Standard Bank branch |
| The debit order amount bundles capital, interest, monthly service (R69 + VAT), and optional credit life premium if you opted in at sign-up. |
Early settlement and extra payments
You may settle the loan early at any time. Request a settlement quotation via the app, online banking or branch; an early settlement fee may apply as permitted under the NCA. Lump-sum top-ups reduce outstanding capital and total interest without waiting for term end. Interest accrues only on the remaining balance until the account closes.
When payments fail
Returned debit orders attract dishonour charges and additional interest on overdue portions. Arrears are reported to TransUnion SA and Experian SA, which can limit future credit. Contact Standard Bank promptly on 0860 123 000 if you anticipate cash-flow difficulty.
Extensions and debt review
Standard Bank does not offer formal term extensions on personal loans. Consumers experiencing hardship may explore debt review under the NCA through a registered debt counsellor. The bank's debt counselling line can explain internal hardship options without prejudice to statutory rights.
Keeping records
Download statements from online banking for tax or budgeting proof. Match each debit order against the amortisation schedule in your signed agreement.
