Revolving line of credit
What is it?
A Revolving Line of Credit is a loan facility with a fixed monthly repayment. You may borrow on the same loan again when you need to without having to reapply.
What does it offer me ?
- You can apply for a Revolving Line of Credit of between K16,000.00 and K60,000.00
- There is no fixed repayment period
- Funds are available immediately when you need them
- Your loan is repayable in fixed monthly instalments
- After making your first loan repayment, the facility allows you to withdraw up to your original loan amount – giving you the flexibility to meet your financial obligations.
What do I need to apply?
- Be between the ages of 21 and 60 years
- Have a net income of K7,000.00 a month
- Have been permanently employed for at least one year
- Have an existing Stanbic Bank transactional account into which your monthly salary is deposited.
Visit your nearest branch with the following documents.
- A signed letter from your employer
- Your latest pay slip
- Proof of identity (copy of your NRC or passport)
- Original utility bill and tenancy agreement (for tenants).