ABSA Bank Loan
Below is the information on the ABSA Bank Loan.
No matter what your plans are, we’ve got a personal loan that suits your needs
How to apply and get your money fast
All you need is
- Your ID book or card
- Proof of residence (not older than 3 months)
- Last 3 months payslips or bank statements
You can apply online, through a branch or by calling our call centre.
Do I qualify for a personal loan?
- To apply for a personal loan over 12 months or more, you need to:
- Earn a regular monthly income of at least R2 000 per month
- Have a bank account into which your income is paid
- Be 18 years or olderTo apply for a smaller personal loan over 2 to 6 months, you need to:
- Earn a regular monthly income of at least R1 500 per month
- Have an active Absa bank account into which your income is paid
- Be 18 years or older
What could my loan instalment be?
From 12 to 84 months (from 2 months for current Absa customers)
Personalised Annual Percentage Interest Rate (APR), up to the maximum of prime +17,5%.
Estimated interest repayment:
The estimated monthly repayment on a R50 000 loan taken over 36 months at an interest rate of 21% per month would be R1 998*.
*Includes all service and initiation fees.
Credit Protection Plan:
The Absa Credit Protection Plan will cover you in the event of death, disability, critical illness, terminal illness or loss of income. Credit life insurance is mandatory for all personal loans.