A Revolving line of credit is designed for individuals who require short to medium-term financing. It is suitable for financing large payments or purchases, or if you require credit over an extended period. It allows you to borrow again up to your original loan amount, once you have repaid 15% of the loan and is repayable in fixed monthly installments.

• You can apply to increase the limit on your existing loan 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 while the loan period increases or decreases.
• You can pay into your loan whenever you have extra cash available. You can withdraw this extra cash once you have met the minimum revolve limit.
• You are required to take out insurance on the personal loan, which will give you the peace of mind of knowing that your loan will be settled in full in the event of disability, dread disease or death

To qualify for a Revolving line of credit, you must:

• be a Private banking client;
• have been in continuous employment for 12 months and earn a net monthly income of at least M23 800; and
• have a Standard Lesotho bank transactional account (into which your salary is deposited)

How to apply

Visit your nearest Standard Lesotho Bank branch with the following documents: