Absa Loans from Absa – Choosing the Best Loan Option

Overview

Absa is a prominent bank which has been servicing South Africans’ financial needs for a long time. As part of its comprehensive services packages, Absa offers clients competitive loan options. These have been introduced by Absa to assist clients with meeting their unique financial circumstances. With favourable, fair and flexible repayment terms, Absa loans come in the form of the Absa Express Loan, Personal Loan, Revolving Loans and Absa Overdraft. 

Absa Express Loan: 

This short-term loan’s available from R1500 to R8000, with repayment periods between 1, 3, or 6 months. Offered at a fixed interest rate, the loan has an easy repayment plan (via debit order) and doesn’t penalise clients for early repayment. Applicants need to be S.A. citizens, 18 years or older, permanently employed, earning a salary of at least R1500 monthly. Current proof of residence and banking details are required and an affordable Credit Protection Plan is included.

Personal Loan: 

This is useful for financing short or long term goals. It offers R3000 to R150 000 in finance, with up to 84 months to pay. Fixed interest rates apply for loans taken up to 60 months, while those taken for 84 months are subject to variable interest rates linked to prime. Rates and fees charged are subject to individual risk assessment. No collateral is needed and approval can be confirmed within minutes.

Revolving Loans: 

These are for applicants earning in excess of R8000 monthly. The facility allows you to re-borrow funds that you’ve already paid off without going through the process of re-applying for it from scratch. Interest is fixed.

Overdraft: 

Candidates need to earn more than R3000 monthly. This facility allows clients to borrow money that exceeds their zero bank balance. Daily interest is incurred.

For application details, visit: www.absa.co.za.