Whether you want to give your lifestyle a boost or have an unexpected expense to deal with, a Personal Loan from Absa is the cost-effective way of making it happen.
A Personal Loan is an excellent way of financing a planned or unplanned event. You enjoy immediate access to the entire loan amount and can negotiate repayment terms to suit your needs and budget.
A Personal Loan could be the right choice if you:
- Need to access R3 000 to R150 000 quickly, with variable and fixed monthly repayment options and up to 84 months to pay
- Are a South African citizen or permanent resident, 18 years or older, with a valid identity document
- Receive a minimum income of R2 000 a month
- Have a bank account into which your salary is deposited
- Have proof of your current residential address, such as a municipality or rates bill
- For personal loans below R 15,000: fixed monthly repayments and up to 60 months to pay.
- For personal loans above R 15,000: variable monthly repayments, linked to prime and up to 84 months to pay.
- For personal loans over R 30,000: you qualify for a longer repayment term of more than 60 months.
Rates & Fees
- Competitive interest rates which are determined by your individual risk profile.
- Initiation fee will be charged on all new personal loans based an individual risk profile.
- Monthly service fee will be charged on all loans.
How do you qualify for Personal Loan from Absa?
- To apply you must be either a South African citizen or permanent resident and be in possession of a valid Identity Document and 18 years or older.
- You must have minimum income of R2, 000 per month and hold a valid bank account into which your salary is deposited.
- Proof of current residential address, e.g. electricity or cell phone statement, etc.