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.
What you need to know
Repayment term:
From 12 to 84 months
Interest rate:
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 997*.
*Includes a monthly service fee and one-off initiation fee.
Credit Protection Plan:
The Credit Protection Plan will cover you in case of death, disability, critical illness or retrenchment. This cover is required for loans of less than R15 000 and optional for loans of more than R15 000. You can get cover to protect your loan or facility with Absa Life Limited or any other licensed life insurer.
Apply now, it’s easy
What you need
- To earn a regular monthly income of at least R2 000 per month
- To have a bank account into which your income is paid
- To be 18 years or older
What to bring with you
- A valid South African ID document or Smart card
- Proof of residential address such as a municipality or rates bill (not older than three months)
- Latest three payslips or three months’ bank statements
Ways to apply
- Apply online
- Visit your nearest Absa branch
- Contact us on 0860 100 372