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We dispute claims of overcharging clients for Home Loan service fees.

Standard Bank states that there is no basis to the claim that we have overcharged our Home Loan customers by R2 billion in service fees, as is being alleged by an individual on various media platforms. The allegation has no foundation in fact and as a compliant corporate citizen, where we have made an error, we take immediate steps to rectify it.


We charge an initiation fee (once off) and a monthly service fee thereafter on all home loans. Customers also generally receive fee pricing communication once yearly, 30 days before annual pricing changes take effect and can check current pricing at any point in time using our digital channels or the statements they receive.


We are happy to investigate any concerns you may have with regard to the service fees being charged on your home loan agreements, at no cost to you. Queries with regard can be sent directly to us at [email protected]or you can call us on 0860 101 101.



  1. Background to the allegations made on fee pricing on home loans
    • 7 years ago the Supreme Court of Appeal (SCA) provided guidance to credit providers on the interpretation of the NCA in relation to admin fees charged on Usury accounts.
    • Thereafter Standard Bank took the decision to credit a large number of Usury Home Loan consumers. The period when we charged a fee that was clarified by the SCA was June 2009 to Dec 2012.
    • Standard Bank took every effort and due care to credit customers fairly.
    • Furthermore, a letter and email was sent to all affected customers informing them of this in 2013. The credit only applied to customers who had opened a home loan account before June 2007 and loan amounts less than R500 000 (if opened before June 2007) as well as if their had not been a change to there agreement after the NCA came into effect (June 2007)


  1. Understanding fee pricing
  • Standard Bank charges an initiation fee (once off) and a monthly service fee. All customers receive pricing communication once yearly 30 days before pricing changes take effect.
  • Monthly fee pricing can change depending on changes on clientsaccount (for example if the customer gets further lending).
  • The annual pricing guide details these scenarios. Customers can also look at their biannual statement to review all fees charged to their account or can view this on the Standard Bank app of internet
  • For information related to your home loan fees, please visit download the pricing guide.


  1. What are service fees or admin fees?
    • It’s a monthly fee we charge to service your account. This includes covering the cost of ensuring the appropriate system maintenance takes place, ensuring payments are credited and debited appropriately and general servicing requirement of the home loan.
    • The fee depends on the legislation under which your account is governed. Please refer to the 2019 pricing guide for detailed review of fees
    • Admin fees was the naming convention under the Usury Act which was repealed in 2007 when the NCA came into effect. Service fees is the terminology used in the NCA.


  1. How do I claim for suspected overcharged fees?
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