Standard Bank Debt Consolidation offers you an opportunity to combine all your multiple accounts into one repayment instalment. The good thing about a Standard Bank Debt Consolidation is that the interest rate becomes lower unlike when you have multiple monthly repayments on various accounts, all with different interest rates then eventually the interest rate will be high and this will put a huge knock in your wallet and then you end up with no money to survive the month until you get paid again, and you eventually go and ask for another loan and end up in more debt.
Standard Bank Debt Consolidation Benefits
Having a consolidation loan can help you by relieving you from the stress of not having money after payday as you will finish paying all the multiple debts that you have.
- One monthly repayment amount
- Fewer interest rates
- You end up saving after payday
Qualifying Criteria of the Debt Consolidation Loan
The following are the requirements one should meet to be eligible for the debt consolidation loan:
- South African, 18 years or older
- Employed or self-employed
- Have a stable salary
- Valid SA ID card or document
- Recent Payslip
- Recent 3 months bank statements (if you not banking with Standard Bank)
How to get the Standard Bank Debt Consolidation Loan
Standard Bank has a department called Debt Care Centre which you can get in touch with and they will help you get the right solution you must visit your nearest Standard Bank branch or start by giving them a call and get more information on how you can apply for the consolidation loan, what’s required and how to the process will take place.
Standard Bank Contact Details
You can get in touch with Standard Bank using the following details, Standard Bank service consultants are always available to assist, 24 hours, 7 days a week.
Email Address: debtcarecentre@standardbank.co.za
Phone call: 0860 111 400.
