Revolving Term Loan
This is a structured loan that meets the needs of qualifying customers who need long-term finance. This facility offers a revolving capability after six months of regular payments, which means you can borrow money again or even increase the loan amount depending on your repayment ability.
What it offers you
· The loan amount you may qualify for ranges from M10 000 to M100 000
· Loans may be granted for up to a percentage of your net monthly salary
· The loan is repayable for up to 48 months.
What you need to apply
· Have been permanently employed for not less than six months
· Earn a net income of at least M3 500 a month
· Be a citizen of Lesotho aged between 21 and 55 years
· A Standard Lesotho Bank transactional account, which has been open for at least six months and into which your monthly salary is deposited.
Visit your nearest branch with the following documents:
· A nationally accepted identification card (valid voter's ID, National Identification, driver’s licence or passport)
· Proof of residence in the form of a utility bill (less than three months old) or Chief’s letter
· Letter of introduction from your employer
· Current payslip
· Six months’ bank statements (for new customers)