Absa Bank offers personal loans that are tailored for your specific needs. Whatever your purpose and need may be, there is a personal loan that is right for you.
Personal Loan Features and Benefits
Following are the features and benefits you can expect to enjoy with a personal loan from Absa Bank:
- Flexible Repayment Terms and Loan Amounts – The bank offers a wide range of personal loans with convenient repayment terms of as long as 84 months for up to R350,000.
- You May Be Pre-Qualified Provisionally – If you are currently a client of Absa, you may be pre-qualified provisionally to avail of a personal loan. Just visit any Absa ATM or visit the bank’s website to view your limits.
- Get the Most Preferential Rates with the Bank’s Price Guarantee – If you apply for a personal loan from Absa, and another loan provider offers a lower interest, Absa guarantees to top it.
Basic Loan Information
- Repayment Terms – 1 to 7 years
- Interest Rate – Personalized APR up to max of prime + 17.5%
- Interest Repayment Estimate – For a R50,000 loan payable in 3 years at 21% interest, monthly estimated repayment would be around R,1998, inclusive of a one-off initiation fee and monthly service fee.
What You Need to Qualify
- Costumers must be at least 18 years old.
- You should to have a regular monthly income not lower than R2,000.
- You must have an active bank account where your income is deposited into.
Documents to Present
- Valid South African Smart card or ID
- Proof of residency such as recent utility bills (within 3 months)
- Previous 3 months’ bank statements or latest 3 payslips
Ways to Apply
- Through the nearest Absa Bank branch
- Over the phone