Tag Archives: standard bank

Standard-banks-BizLaunch

Standard Bank’s BizLaunch, supporting small businesses

Standard bank is a global renowned financial and banking institution. With many years of experience in the world of business, this bank understands that small scale businesses are essential players in national and global economy. It is therefore essential that these small businesses are given a strong foundation and support to flourish.

Research has shown that a high percentage of new start-up businesses fail within the first three years. Other findings have also indicated that 440000 small businesses had failed in the past 5 years in South Africa. It is due to this background that Standard bank launched Bizlaunch.

Bizlaunch has been established to ensure businesses get started the right way and avoid false starts. Its also particularly aimed at new businesses. Bizlaunch is a one stop house that tries to take care of business matters such as registering the business, keeping track of cash in and cash out, pay suppliers, deposit funds into a business bank account and get some basic advise.

This service from Standard bank offers a R90 per month business account which includes unlimited electronic transactions, unlimited debit orders, unlimited cheque card swipes,internet banking, my updates and 8 ATM cash withdraws.This package also comes with my business online which is an accounting package from Pastel. Apart from a business banker whom you can discus needs with, there is also a packaged business support and tips such as how to start and grow a business.

Bizlaunch also offers a merchant device for R325 a month.This includes telecommunication fees and insurance per month, at a commission rate of 3.25% irrespective of card type. Basic business insurance cover at R150 per month, online business registration services and annual returns to help you to get your business started and a 20% discounted training voucher on the basics of how to start a business such as finance for non-financial managers.

This package from Standard bank offers practical solutions that are relevant to the market and tackle challenges entrepreneurs, especially start ups face.

Standard bank student loans, empowering students

Standard bank student loans. Economic and social research has shown that the finance factor has tremendously contributed to fluctuating entry numbers into universities and institutions of higher learning. This has consequently led to a critical shortage of knowledge and skills needed to drive economic growth. This scenario is what prompted Standard bank which is one of South Africa’s biggest commercial banks to introduce student loans. The idea behind this innovation is to ensure appropriate financial support is offered to students who meet the relevant criteria so that no deserving student is denied an education opportunity on financial grounds.

The Standard bank student loan has been designed to assist students with finance for fees, books, equipment and accommodation. Loans for accommodation are  however only offered to students who are not living with their parents. This loan also comes with the benefit of a Standard bank transaction account with a debit order.

Full time students are required to only pay the monthly interest on the loan and start repaying the loan upon completion of studies,the interest is normally charged to the students account number or surety’s bank account. Students are granted capital repayments if they have completed their articles, internship or community service. Part time students are required to pay the loan while studying while those who have failed to complete their studies are supposed to repay immediately.

Recipients of this loan also enjoy peace of mind knowing that once the loan is in repayment mode, monthly repayments remain unchanged. If one is a part-time student, the monthly repayment will change whenever there is an increase on the limit of the loan while studying.

As part of the requirements for this finance, students should submit academic marks, proof of registration or qualification by 31st march each year. Because student loans are granted for a specific year of study, students are required to re-apply for each year of registration.

Standard bank can be contacted on 0860123000.
standard bank student loans

The Standard Bank revolving credit plan

Standard Bank revolving credit plan – A world renowned banking institution. In South Africa, this bank has been at the fore front of ground breaking developments in the financial and banking industry. Standard bank has been providing innovative credit and personal loan solutions to its clients for years now. One of the innovative credit solutions that Standard bank has introduced  to its clients is the revolving credit plan (RCP).

A revolving credit plan by Standard bank is a loan facility that allows clients to borrow extra amounts of money which is equal to the initial loan amount once 15% of the initial loan amount is repaid.

 Standard Bank revolving credit planThis facility allows clients to borrow between R6000 and R300000 if they can afford and their risk profile is not dented. Under this facility, clients are only charged a once off initiation fee, thereafter a monthly service fee will be levied and it carries a fixed monthly repayment. There is also an option of paying extra amounts of money into the loan repayment should a client have extra financial resources. There is also the option of insurance which goes towards settling the loan in full in the unfortunate event of death, disability or dread disease. In cases where a client is retrenched, three monthly installments will be paid on behalf of the client.

To qualify for this amazing credit facility, prospective clients should be 18 years and above, be South African citizens or permanent residents with an ID, earn a gross monthly income of at least R8000, have a transaction account where a monthly salary is transmitted.

To access the revolving credit plan, Standard bank can be contacted on 0860 123 000.
Loan calculator