My Terms hire purchase plan

Now you’ll never have to dip into your savings or be bogged down by high interest rates again. That’s because Standard has created the most versatile, unbeatable hire purchase (HP) plan on the market just for you!

With “My Terms” you get the ease and comfort of getting everything you want with small, manageable payments. And, Standard will even work with you to provide a customised package that suits your budget.

Here’s why you should choose “MY Terms” Hire Purchase Plan:

  • Lowest Interest Rate Guaranteed
    You get the most competitive interest rate on the market that remains consistent throughout your entire plan.
  • HP at Cash Price Options
    Absolutely no interest is charged on 3 and 6 month cash options
  • No Down Payment
    Pay nothing down, once your account meets our credit criteria
  • Lowest Installments Guaranteed
    Enjoy smaller, easier payments that suit your budget and stay installment FREE for up to 60 days after the approval of your application
  • Flexible Payment Options
    We’re giving you more ways to pay! With 11 conveniently located Standard showrooms nationwide, you can choose the option that’s best for you!
  • Same Day Approval
    Your application is approved on the same day, once you meet the credit criteria

Documents needed to apply:

  • 2 Forms of National Identification
  • Original Job Letter
  • Recent Payslip
  • Paid Utility Bill
  • Two references (a friend & a family member who does not live at same residence): Name, Address & 2 Telephone numbers
  • Copy of bank statements for the last 6 months (Business owner or Self-employed)
  • Rent receipts for the last 3 months

Frequently Asked Questions:

If I already have an HP account, can I take out other items on HP?

Yes you can, however this again is based on your ability to repay the contract within your individual budget constraints.

Do I have to pay off for all my HP items before I take another one on terms?

No, once the installment payment on one or multiple contracts is within a percentage of your disposable income then there is no need to close the contract before opening another. This also depends on the payment history on previous accounts.

I’m renting/living with someone and don’t have a utility bill under my name, can I use another bill eg. cable bill, bank statement?

Yes, either can work.
If you are a dependent or living with someone whose name is on the bill, you can open a joint account and have them sign on the contract as a second hirer.

How long will my application take before it gets approved?

Accounts are approved in on the same day, once the information provided by you is validated.