Stanbic Bank's Vehicle And Personal Loans

Stanbic bank,priding themselves as one of Africa’s banking institution have put alot of measures in place to make their customers comfortable.

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In the midst of developing economies, Stanbic bank is ready to offer you a helping hand on your terms and that which suits your lifestyle.

What are the different kinds of vehicle and personal loans provided?

Stanbic bank provide customers with a range of loan collections. And they are fully discussed below.

Personal Loan

Stanbic Bank knows you have lifestyle aspirations and that sometimes you need the right financing to realize your goals.

Their Unsecured Personal Loans are flexible, short- to medium-term loans tailored to meet your personal financing needs such as buying household or electronic appliances, education expenses, home improvements, car maintenance, rent advance and other personal expenses.

What are the types of personal loan?

Fixed Term Loans (FTL): A short-term personal loan is ideal if you earn a minimum net salary of GHS700 a month
Revolving Term Loan (RTL): A short- to medium-term revolving personal loan if you earn a minimum net salary of GHS1000 a month
Salaried Earners Scheme (Non-Guarantee) – SESN : A short- to medium-term personal loan structured for salaried employees on their Workplace Banking Group Scheme who earn a minimum net salary of GHS500 a month at negotiated concessionary rates

What do you get for choosing personal loan?

You’re offered with flexible repayments through a Stanbic salary account or direct payroll deduction

With Minimum loan amount, you get
Fixed Term Loan: GHS2,000
Revolving Term Loan: GHS2,000
Salaried Earners Scheme (None Guarantee) – SESN – GHS2,000
Maximum loan amount: depends on income
Fixed Term Loan: GHS10,000
Revolving Term Loan: GHS2,000
Salaried Earners Scheme (None Guarantee) – SESN – GHS 300,000 subject to net salary and employer category
Minimum loan term of 6 months
Maximum loan repayment term tied to retirement age
Fixed Term Loan – up to 48 months
Revolving Term Loan and Salaried Earners Scheme (Non-Guarantee) – SESN – up to 72 months subject to employer category

How to get the personal loan?

You must work for an organisation profiled by them
You have to be in employment for at least six months and confirmed in current job role
You must have held an account with them for at least one month. (For salaried account holders)
You do not need to have an account with us for direct payroll deductions
Must be 21 years and not more than 60 years by facility expiry
Ghanaian citizen or legal resident in Ghana (expatriates)
Fill in the Unsecured Personal Loan application form and attach the following documents
Proof of income – last three months’ payslips

Vehicle Loan

Stanbic bank’s Vehicle and Asset Finance (VAF) is a medium-term facility tailored for their salaried and non-salaried customers to buy movable and immovable assets, such as motor vehicles and power generators for your own use.

What do you get?

An advance of up to 60% of your disposable net monthly salary (after all monthly loan deductions and commitments have been paid)
Minimum overdraft limit of GHS100
Facility limit renewal subject to satisfactory account performance
Monthly pay back of used limit or a clean-up cycle of 30 days
Facility fee of 2% (minimum GHS50) charged on approved limit and at each renewal
No maximum overdraft limit
Credit Life insurance premium of 0.84% on approved limit against death and permanent disability
Interest applies only on portion of overdraft used each month

How do you get the vehicle loan?

Work for any Stanbic profiled organization
Earn a minimum salary of GHS400 a month
Minimum salaried account relationship of:One month – Workplace Banking Scheme companies/organizations, Three months – non-Workplace Banking Scheme companies/organizations,Customers with salaried Stanbic Current Account
Fill in a Personal Overdraft/Salary
Advance application form and attach the following documents:
Statement of account from previous bank (new to bank applicants only)
Pay slips from the past three months
Overdraft will be approved subject to a positive reference from credit bureau

Salary Advance

A Stanbic Salary Advance is a personal overdraft tailored to meet your cash flow needs if you earn a salary. It is a cash bridging facility against your next pay cheque or salary credit. It is designed to help cover small but urgent unexpected expenses between pay days.

What do you get for being on this loan?

An advance of up to 50% of your disposable net monthly salary (after all monthly loan deductions and commitments have been paid)
Minimum overdraft limit of GHS100
Facility limit renewal subject to satisfactory account performance
Monthly pay back of used limit or a clean-up cycle of 30 days
Facility fee of 2% (minimum GHS50) charged on approved limit and at each renewal
No maximum overdraft limit
Credit Life insurance premium of 1% on approved limit against death and permanent disability
Interest applies only on portion of overdraft used each month

How do you get this loan?

Work for any Stanbic profiled organization
Earn a minimum salary of GHS500 a month
Minimum salaried account relationship of:One month – Workplace Banking Scheme companies/organizations,Three months – non-Workplace Banking Scheme companies/organizations,
Customers with salaried Stanbic Current Account
Fill in a Personal Overdraft/Salary
Advance application form and attach the following documents:Statement of account from previous bank (new to bank applicants only)
Pay slips from the past three months
Overdraft will be approved subject to a positive reference from

Consumer Finance Loan

Stanbic bank’s Consumer Finance Term Loan is an unsecured personal loan used to finance consumer appliances and products on a short-term basis through their partner vendors or dealers. Loans are available to customers earning a minimum net salary of GHS500 a month.

What does the package entail?

Loans range from GHS500 to GHS20 000
Loan terms from 6 – 24 months
Maximum loan term tied to your retirement age
Competitive interest rates, fixed for the term of your loan
Facility fee of 2% of loan amount
Credit Life Insurance that covers permanent disability and death
Can be taken as a second unsecured term loan with us
Flexible repayment options through salary account with us or direct payroll deduction by employer

How do you get the loan?

Be a salaried employee permanently employed with employment confirmed
Be a salaried income earner working for any of their Workplace Banking Scheme companies
Earn a minimum salary of GHS500 a month
Be over 21 years and not more than 60 years on expiry of the term of your loan.
Choose product from vendor’s shop or catalogue
Fill in a loan application and attach the following supporting documents:
Letter of Undertaking from employer
Pro-forma invoice from vendor/dealer
Statement of account from previous bank (new customers only)
Confirmation of current salary or pay slip
Give your filled in application form to a consultant at a branch/Executive
Banker or PSC or vendor’s sales officer
Loan is approved subject to a positive report from credit bureau and amount is then paid to the vendor
You arrange for delivery of the product or items financed from the vendor