Personal loan
An unsecured loan is a structured financial product designed to meet the needs of eligible customers seeking long-term financing without requiring collateral.
M1500
Minimum Income
12 to 84 months
Months to repay
Some of the benefits
Convenient
Quick solution to emergency and non emergency needs
Efficient
Limited Paper work required
Fast
Quick turnaround times
Easy to get
Ability to complete the process end to end on own digital platforms
What you get
Quick Access to Funds:
Available digitally and manually.
Digital loans are accessible instantly via internet banking.
Manual applications are processed within 48 hours.
Insurance Protection:
Includes Personal Loan Protection Plan (PLPP) covering death, loss of employment, or disability. There is also a cash back on the insurance plan, funeral benefit of up to M50000.00 and many more.
No Risk to Personal Assets:
No collateral needed, reducing the risk to the borrower.
How it works
- For clients with a digital offer, a notifications banner will appear on either internet banking or SmartApp showing the offer amount. Selecting "Know More" allows you to get further details on the loan which include total cost of the loan, repayment conditions and the terms and conditions of the offering.
- For manual applications, clients can visit any branch country wide or get in touch with their relationship banker to get the process started, this is a quick process that requires minimal documentation (which would include Identification document, Salary confirmation or Payslip together with confirmation of residence where KYC documentation is not complete)
What you can do
- Make additional payments into loan through branch assistance at any time at no extra cost to you
- You can check you balance and monitor transactions using our digital channels 24/7
What it costs
- Monthly Management fee of M10.00, subject to change per regulatory approval
- Interest rate differ depending on customer segment
- Monthly insurance based on loan amount and term
- Monthly payment to reduce loan balance
How to get it
Credit Score: Minimum BBI 19
Income Requirements: Proof of income or employment status
Documentation: Valid identity document Proof of residence
Other Requirements: Must be a resident of Lesotho and over 18 years old.
Internet Banking and Smart App
- Click on "Know More" under notifications banner
- Follow steps in selecting the appropriate amount and term to match affordability
- Read through terms and conditions, and authorise transaction
- Money will be credited into your account within seconds
- Alternatively you can visit nearest branch or contact your relationship manager for details on how you can be assisted
- You can also call the Standard Lesotho Bank Contact Center for guidance on 8002 2221, or 2221 2221
-
What you get
-
How it works
-
What you can do
-
What it costs
-
How to get it
Quick Access to Funds:
Available digitally and manually.
Digital loans are accessible instantly via internet banking.
Manual applications are processed within 48 hours.
Insurance Protection:
Includes Personal Loan Protection Plan (PLPP) covering death, loss of employment, or disability. There is also a cash back on the insurance plan, funeral benefit of up to M50000.00 and many more.
No Risk to Personal Assets:
No collateral needed, reducing the risk to the borrower.
- For clients with a digital offer, a notifications banner will appear on either internet banking or SmartApp showing the offer amount. Selecting "Know More" allows you to get further details on the loan which include total cost of the loan, repayment conditions and the terms and conditions of the offering.
- For manual applications, clients can visit any branch country wide or get in touch with their relationship banker to get the process started, this is a quick process that requires minimal documentation (which would include Identification document, Salary confirmation or Payslip together with confirmation of residence where KYC documentation is not complete)
- Make additional payments into loan through branch assistance at any time at no extra cost to you
- You can check you balance and monitor transactions using our digital channels 24/7
- Monthly Management fee of M10.00, subject to change per regulatory approval
- Interest rate differ depending on customer segment
- Monthly insurance based on loan amount and term
- Monthly payment to reduce loan balance
Credit Score: Minimum BBI 19
Income Requirements: Proof of income or employment status
Documentation: Valid identity document Proof of residence
Other Requirements: Must be a resident of Lesotho and over 18 years old.
Internet Banking and Smart App
- Click on "Know More" under notifications banner
- Follow steps in selecting the appropriate amount and term to match affordability
- Read through terms and conditions, and authorise transaction
- Money will be credited into your account within seconds
- Alternatively you can visit nearest branch or contact your relationship manager for details on how you can be assisted
- You can also call the Standard Lesotho Bank Contact Center for guidance on 8002 2221, or 2221 2221