When you’re deciding whether or not to apply for a personal loan, it’s important to know what you’re getting into and what you should consider before you apply.
This article is full of information you should know before you Apply for Stanbic Bank’s Personal Loan, this will allow you to be as informed as you want to be while making your decision.
When it comes to credit, there is no such thing as a free lunch. Every loan comes with its own set of fees and charges.
This blog post will provide everything you need to know about Stanbic Bank Personal Loan.
Without further ado, let’s get down to business!
What is Stanbic Bank Personal Loan?
Stanbic Bank Personal Loan is an Unsecured Personal Loan that is flexible, short- to medium-term loans tailored to meet customers’ personal financing needs such as buying household or electronic appliances, education expenses, home improvements, car maintenance, rent advance and other personal expenses.
What are the Requirements of Stanbic Bank Personal Loan?
Eligible applicants of Stanbic Bank Personal Loan must meet the following requirements:- below are how you will be able to get the personal loan offered by Stanbic Bank.
- You must work for an organisation profiled by us
- You have to be in employment for at least six months and confirmed in current job role
- You must have held an account with us for at least one month. (For salaried account holders)
- You do not need to have an account with us for direct payroll deductions
- Must be 21 years and not more than 60 years by facility expiry
- Ghanaian citizen or legal resident in Ghana (expatriates)
- Fill in the Unsecured Personal Loan application form and attach the following documents
- Proof of income – last three months’ payslips
- Proof of identity – passport, driver’s licence, Voters’ Identity Card
- Proof of address – utility bill less than three months old
- Letter of Undertaking from employer
- Six months’ bank statements (for new customers only)
- Passport photo (Direct payroll deduction customers only)
- Loan will be approved subject to a positive credit bureau report
What are the types of Loans does Stanbic Bank offers?
Stanbic Bank have three different types of Personal loans, below are the types of Loans Stanbic Bank gives.
- Fixed Term Loans (FTL): A short-term personal loan is ideal if you earn a minimum net salary of GHS700 a month
- Revolving Term Loan (RTL): A short- to medium-term revolving personal loan if you earn a minimum net salary of GHS1000 a month
- Salaried Earners Scheme (Non-Guarantee) – SESN : A short- to medium-term personal loan structured for salaried employees on our Workplace Banking Group Scheme who earn a minimum net salary of GHS500 a month at negotiated concessionary rates
What makes this personal loan by Stanbic Bank enticing?
Stanbic Bank’s Personal Loan is one of a kind, it provides an alluring offers for the applicants.
Below are few listed offers you can get with Stanbic Bank Personal Loan:-
- Flexible repayments through a Stanbic salary account or direct payroll deduction
- Minimum loan amount:
- Fixed Term Loan: GHS2,000
- Revolving Term Loan: GHS2,000
- Salaried Earners Scheme (None Guarantee) – SESN – GHS2,000
- Maximum loan amount: depends on income
- Fixed Term Loan: GHS10,000
- Revolving Term Loan: GHS2,000
- Salaried Earners Scheme (None Guarantee) – SESN – GHS 300,000 subject to net salary and employer category
- Minimum loan term of 6 months
- Maximum loan repayment term tied to retirement age
- Fixed Term Loan – up to 48 months
- Revolving Term Loan and Salaried Earners Scheme (Non-Guarantee) – SESN – up to 72 months subject to employer category
- Loan repayments should not be more than 50% of your net monthly income
- Competitive interest rates and facility fees
- Credit Life Insurance that covers permanent disability and death
- Top-up option available for existing loans after consistent repayment
OTHER BENEFITS OF PERSONAL LOAN
- Easy to get – This loan by Stanbic Bank is very easy to get.
- Your terms – with this personal loan, you can choose the term tenure that is idea for you.
- Insurance – Stanbic Bank’s Personal Loan comes with an insurance, so should incase of uncertainties(like Death, sickness etc) , the insurance company will take care of the loan.
- Flexibility (Repayment of the loan is flexible repayments through a Stanbic salary account or direct payroll deduction)
Contact Stanbic Bank
You can contact the Stanbic Bank support team via phone numbers below.
- International >>> +233 302 815 789
- Vodafone Toll free number (Local) >>> 080010009
- MTN Toll free number (Local) >>> 18080
How to apply for Stanbic Bank’s Personal Loan?
Now that you know Almost everything about Stanbic Bank’s Personal Loan, you can kindly visits the nearest Stanbic Bank branch to start your personal loan application process. It’s very simple and snappy.
However, you can put a call through their service and find out more…
We hope you enjoyed our blog about applying for a personal loan with Stanbic Bank.
This is a great post for anyone who is looking for a personal loan and doesn’t know where to start.
Keep these key points in mind as you are building your loan application so you’re able to get approved and have a smooth, speedy application!
If you have any questions at all, please don’t hesitate to ask via the comments section. Thank you for reading, we would love to hear from you!