Standard Bank Revolving Credit Plan

A revolving credit facility can be described as an arrangement which allows for the loan amount to be withdrawn, repaid, and redrawn again in any manner and any number of times, until the arrangement expires.These loans are also called evergreen loans and credit card loans and overdrafts are perfect examples in this regard.The Standard Bank Revolving Credit Plan has become a pioneer product in this regard.

Standard Bank’s Business revolving credit plan offers Business Banking customers a line of credit that can be used when required. You pay a minimum monthly repayment and the credit limit is restored automatically after 25% of the loan amount has been repaid.The amount you qualify for is determined by your repayment ability. It can range from a minimum of R10 000 up to a maximum of R4 million.

Benefits of this loan facility include the fact that the loan amount is not repayable on demand, you can withdraw to the original amount without having to reapply, repayments are fixed even when you decide to revolve, a business revolving credit plan is a suitable option than an overdraft to buy fixed assets, there is quick turnaround time for applications, documentation is simple and fixed monthly instalments makes cash flow management and planning easy.

To access this loan, Standard Bank can be contacted on 0860123000.