Absa Personal Loans
Absa Personal Loans offer the most affordable amount within flexible repayment terms of your choice.
You’re in control of the amount you want and for how long. Whatever your financial situation you may be facing, the Absa loan is the best option.
It is an unsecured loan and can be used for anything you want. You can use the loan to start a business, renovate your home, pay for children’s university fees, wedding celebrations, fix a car, and so on.
Let’s get started.
At a glance
Absa Loan Types
Absa offers two types of personal loans:
Express Loan
- Loan amount: R1 500 – R8 000
- Repayment term: From 2 – 6 months
Personal Loan
- Loan amount: R3 000 – R350 000
- Repayment term: From 12 – 84 months
Each loan type is categorically designed to meet individual financial needs and expectations.
The Express loan is tailored to meet your short-term needs. Whereas the Absa personal loan is a long-term installment loan for people with big dreams.
Absa is one of the leading banks in South Africa and has been helping people for many years. They truly understand and have the most transparent loan application process for your convenience.
The loan is provided at a customized interest rate of up to 17.5%. Compared to other credit providers, this annual percentage interest rate could be considered the lowest and cheapest.
It gets even better.
The Absa personal loan includes a Credit Protection Plan that’ll cover your personal in the worst life moments. You’re covered for the loan in case of retrenchments, critical illness, disability, and death.
The Absa Loan Application
The most important requirement for many unsecured personal loans is your credit score. Because the bank isn’t going to ask for any collateral or asset as security against the loan application, they can only rely on your credit history for the approval decision.
Your credit rating will tell Absa about your history, whether you’re a responsible borrower or not. And a decision will be made and a personalized amount will be offered to you.
This is for your own wellbeing and financial health. Absa is a responsible lender and would never want to see its client drowning in debt because of them.
Anyway, to qualify, you’ll need the following:
- You must be 18 years and older with a South African ID.
- Permanently employed earning at least R2 000 per month.
- A bank account into which your salary is paid every month.
And that’s it.
The Loan Calculator
For your convenience and peace of mind, Absa bank wants you to understand the personal loan upfront before making any decision.
So, the Absa loan calculator will help you understand the loan by showing you all the fees. Calculate the total repayment of your loan with a once-off initial fee and then decide what you can afford and adjust the amount accordingly to meet your budget.
Absa Loans Contact
For further assistance, contact 0860 100 372 and a consultant will help you with the best loan.
Alternatively, visit www.absa.co.za to read more about personal loans and apply online.