Absa Bank Personal Loans and Rates

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
  • Online
  • Over the phone

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