 |
|
|
|
|
|
 |
|
Revolving Credit Plan
Standard Bank’s Revolving Credit Plan (RCP) is your personal finance option, whether you need it for an emergency or to be able to go on holiday. It provides a continuing line of credit within an agreed limit.
Once 15% of the loan amount has been repaid, you may redraw the funds again up to the agreed limit.
You are able to loan an amount up to three times your gross monthly salary, subject to a minimum of N$1 000 and a maximum N$75 000. The amount you qualify for depends on your income and credit risk.
To apply for an RCP you need:
- To be 21 years of age and older;
- Proof of income;
- Be a Namibian citizen/have permanent residence;
- Have a clean credit record;
- Earn a minimum gross salary of N$3000 or more;
- Have a fixed address;
- Have a Standard Bank Cheque account or PlusPlan account.
To pay back your loan:
- The minimum loan installment is deducted by debit order from your transaction account.
- You are allowed to pay in extra cash into your loan whenever you feel like it.
- The minimum monthly installment remains fixed at 1/40th of the original amount you borrowed.
- The interest rate you pay on your loans is linked to the prime rate and may fluctuate.
|
|
|
|
|
|
|
|
|
|
|
