Absa Loans allow you to borrow money from R250 right up to R350 000 – IN CASH!
Absa offer three (3) different types of loans i.e. personal, express and instant loan.
In this article, we’re going to explore and compare each loan type in detail. We’ll also tackle the benefits of taking the Absa Loans.
About Absa Bank
Absa bank is a registered financial services and credit provider in South Africa. The bank is a subsidiary of Barclays Africa Group, one of the top financial institutions in the world.
Absa offers quite a lot of financial services such as personal loans, home loans, vehicle finance, credit cards, insurance, banking services and so on.
The company is listed on the Johannesburg Stocks Exchange.
You might know this, but Absa bank is a huge institution in South Africa.
They’ve been helping people with personalised financial products for many years.
If you were looking for a personal loan, you can be sure to get world class service from Absa.
They have well trained consultants who help many clients with free financial advise and decision making.
Should you need more help about Absa Loans, contact 0860 100 372 and speak to a friendly consultant.
If you prefer face to face interactions, then find a Absa branch near you.
Alternatively, visit www.absa.co.za to read more.
Now, let’s have a look at the different types of loans Absa has to offer.
Why choose Absa Loans
There are couple of benefits of taking a personal loan with Absa bank.
Whether you have big dreams or want quick cash, Absa has the best solution for you.
1. Instant Loan
The Absa instant loan is sometimes referred to as ATM loans because you get quick cash anytime.
You could qualify for a loan up to R5 000.
Apply for instant loan online or at any of the Absa ATMs. No paperwork or sitting for hours on the phone or queues.
Money is available whenever you need it.
Pay back the loan in just 35 days or your next salary date.
Absa instant loan is only available for existing customers.
2. Express Loan
Absa Express Loan is a short-term unsecured credit available from R1 500 to R8 000.
Loans are offered within flexible repayment terms between 2 – 6 months.
Perfect for your unplanned financial emergencies.
The best part is that you’ll pay back the loan quickly.
Express loan is granted at a fixed competitive interest rate for the term of the loan. Your installments won’t change for the whole term.
This type of Absa loan will also help you build good credit record.
You can spend the money however you feel fit.
3. Personal Loan
Perfect for your long-term goals, Absa Personal Loan gives you up to R350 000 within flexible repayment terms.
Use the loan for your planned and unplanned expenses.
Absa loan is personalised to your needs and credit profile.
R350 000 is a lot of money and you can make a lot of your dreams come true. However, not many people qualify for such big amounts.
So, the loan will be customised based on your credit rating with the best interest rate.
The best part?
You get to choose terms that best suits your budget.
Apply today and you could be provisionally pre-qualified for a personal loan.
4. Overdraft Loan
The Absa Overdraft Loan is only available for existing clients with cheque accounts.
Easily access cash up to R250 000. You only pay interest on the amount you have used.
If you don’t use the overdraft loan, you don’t pay for it.
It’s that simple.
5. Revolving Loan
A credit facility that gives you access to cash whenever you need it.
Get up to R150 000 without reapplying for the loan.
The Absa revolving credit gives you fixed repayment monthly.
Pay back the loan from a minimum of 12 months and maximum terms of your choice.
What you’ll need to apply
As indicated above, some of the loan types such as instant loan doesn’t require anything when applying.
However, personal loans and credit cards requires Absa to consider your application based on a couple of factors.
- A valid South African ID document or Smart card.
- You must be 18 years of age.
- Proof of residential address.
- A regular monthly income per month.
- A bank account into which your monthly salary is paid.