Getting an Absa personal loan

Absa personal loans are available for their existing clients, or new clients, who wish to have a loan of between R 3 000 and R 150 000, depending on how much you qualify for and your credit assessment. This is a longer term loan than the short-term Absa Express Loan that you pay off in 6 months or less, the Absa personal loan is paid off in 12 to 84 months.

There are different options available when taking an Absa personal loan. If you take the fixed rate loan, you can pay over a period of 60 months, if you take a variable rate loan which is linked to prime you may qualify to pay over a period of 84 months. You may choose to pay additional sums towards settling your capital amount on the loan without getting penalized.

applying online for a personal loan

Existing Absa customers can easily apply for a loan by looking for the ‘apply’ link on their Absa online banking profile. The process is quite seamless and it’s possible to have your loan available in less than 10 minutes! You will have to be registered for online banking in order to apply online for an Absa personal loan. If you are not a current Absa customer then applying online will take a bit longer, but you may still apply online with Absa, although you will need to give them all your documentation in order for them to see if you qualify for a personal loan with them.

As with all types of loans, you need to apply for as many as possible and then compare which one is more competitive and gives you a better rate.

Absa Personal Loans contact centre

Personal Loans 0860 100 372
Personal Loans 0860 00 33 00 platinum@absa.co.za
Personal Loans 0860 008 866

Absa express loan may be the short-term finance for you

The Absa Express Loan is a short-term loan from Absa that many of its clients are glad is available for them. Nothing really is available to rival this from other major banks. The Absa Express loan is short-term, so it means you will pay it over less than a year, and Absa has put together options of 1, 3 or 6 months to pay it off. You mat apply for a loan starting from R 1 500 to R 8 000.

There are a few conditions if you would like to qualify for this Absa loan: You must be a South African citizen, have your salary deposited into a bank account (this is because Absa will actually debit your account), you must earn more than R 1 500 per month, proof of residence (water bill, Etc).

As with all loans, check that you can afford this loan and will be able to pay it off in the stipulated time period. You must apply for more than one loan and then compare the amount you will be paying off per month. Choose one that you can pay off quicker (and as affordable) as possible. You want to pay less on your interest rate and as less an amount as possible. At times you will have to prove that you can afford a loan, and by doing so you will be safe from unscrupulous lenders who don’t care about you but are reckless in their lending.