Stanbic salary based loans

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Requirements for applying for a Stanbic salary based loan

  • A copy of your National ID
  • Proof of residence
  • Your recent payslip
  • An application letter which states that you want to use the loan for
  • You can apply for the loan even if you don’t bank with Stanbic
  • A salary redirection letter.

The letter should be stating that your salary will be directed into your Stanbic account.

Loan conditions of Stanbic’s salary based loan

  • Maximum amount to borrow

You can borrow as much as 3 times your current salary. For instance, if you earn $1000, you can borrow a maximum of ($1000×3) $3000.

38% per annum

  • Maximum repayment period

The loan is repaid in monthly installments for 12 months regardless of how much you borrowed.

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