Nov 2006



You can qualify for a personal loan today
Life can be very challenging, especially when you suddenly have unplanned expenses that you didn't budget for. Does this sound familiar? Then you'll be glad to know that if you use an E Plan account at Standard Bank as your main account (depositing your salary on a regular basis) you could qualify for a personal loan of up to R7 500 from Standard Bank (in partnership with African Bank). What's more, it will be available just 45 days after depositing your salary into your E Plan account for the first time. The actual value of the personal loan to which you are entitled depends on how much you earn, and how often you are paid. For example, if you earn more than R225 a week, or more than R450 every two weeks you could borrow between R1 000 and R6 250.

You choose how you repay
You will pay back the loan at the times you are paid. The amount depends on how much you borrow and over what period you will repay the loan. If, however, you earn a monthly salary of R900 or more, you can borrow up to R7 500 and then repay the amount over 12 to 35 months. You can also negotiate the loan instalments to suit your budget and needs, either by reducing the term of the repayment (which increases the instalments) or borrowing less (which reduces the instalments). The choice is yours!

Competitive interest rates
These personal loans have been designed to be affordable by using competitive interest rates, which remain the same for the duration of the loan (your repayment instalments don't change). Naturally, penalty interest is charged on accounts where the repayments go into arrears - in which case, repaying the full loan will ultimately cost you more.

Importantly, each personal loan is linked to an insurance product that provides cover in the event of your death, permanent or temporary disability, or even if you lose your job.

Standard Bank is an authorised financial services provider.

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