Standard Bank Revolving Credit Plan (RCP)

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A Standard Bank Revolving Credit Plan RCP is a loan with a fixed monthly repayment. A unique feature of this product is that it allows you to borrow again up to your original loan amount, once you have repaid 15% of the loan.

The benefits of having a RCP:

  • You can get a loan between R6 000 and R 300 000 (depending on your affordability and risk profile).
  • Once you have repaid 15% of the loan, you may borrow again up to your original loan amount and your repayments will remain unchanged.
  • You can apply to increase the limit on your existing RCP when you require additional funds.
  • The minimum repayment remains fixed for the life of your loan account which enables you to budget more effectively.
  • The interest rate is linked to the prime rate and will be based on your risk profile.
  • When the prime interest rate changes, your minimum repayment amount remains unchanged whilst the loan period increases or decreases.
  • You can pay extra into your loan whenever you have extra cash.
  • You have the option of taking out insurance which will give you the peace of mind of knowing that your loan will be settled in full in the event of Death, Disability and Dread disease, and up to a maximum of 3 monthly installments will be paid upon retrenchment. The Benefit paid will be dependent on the option of cover selected.

Standard Bank Revolving Credit Plan Fees:

  • You will be charged a once-off initiation fee at origination; thereafter a monthly service fee will be levied.

To qualify for an RCP, you have to:

  • be 18 years or older;
  • be a South African citizen or permanent resident with a South African identity book;
  • earn a gross monthly income of at least R8000;
  • have a transaction account;
  • have your salary electronically deposited into your transaction account.

To apply for a new loan or an increase in your existing loan you can:

  • apply online or
  • Visit your nearest branch. To find your nearest branch, click here and bring along:
    • your South African identity book;
    • your latest salary slip or confirmation of your income;
    • proof of your current residential address and,
    • two months bank statements if you do not bank with Standard Bank.
  • You can also Dial *120*5626# to see how much you could qualify for.

Please read the Terms and conditions of the product.

If you need more information call us on 0860 123 000

Standard Bank supports responsible lending. Speak to your Banker should you need help managing your debt.

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