When you are in need of financial assistance to solve an emergency or just to accomplish a planned task, ABSA Personal Loans can be the perfect solution when you are in financial burden.
ABSA offers personal loans that are trusted, secure and easy to apply for, with an ABSA Personal Loan you can borrow a loan amount that start from a minimum of R3000 up to maximum of R350 000 and repayment term for a current Absa customer starts from 2 months, but if you are not a Absa customer the repayment term ranges from 12 months up to 84 months.
ABSA provides personal loans that are secure and the interest rate for this loan product are personalised starting from 13.75% per year, for example if you borrow a loan amount of R50 000 with an interest rate of 18% and repayment term of 36 months your interest payment will be R2113 and ABSA also has credit protection which is a plan that will cover your loan credit if you loose your job, die or get disabled.
ABSA Personal Loans Requirements
To be eligible for a ABSA Personal Loans you must meet the eligibility requirements that follows:
- Must be a South African citizen 18 years or older
- Must have a bank account that’s active with your salary being paid electronically to that particular account.
- Must be earning a minimum of R2000 ( for a personal loan with repayment term of 12 months or above)
- Must be earning a minimum of R1500 (for a personal loan with repayment term of 2 – 6 months)
ABSA Personal Loans Required Documents
The following documents are compulsory and needed for transparency when applying for the personal loan:
- Valid South African ID card or document
- Latest 3 months payslip
- Latest 3 months bank statement
- If you are not an ABSA customer you are required to have proof of residence not older than 3 months
Where Can I Apply For The Personal Loan
ABSA offers a variety of platforms to apply for their personal loan product and you must remember to have the documents mentioned above and meet the eligibility requirements:
- You can apply at your nearest ABSA branch
- Apply on the ABSA website
- Apply using the ABSA app
ABSA Contact Details
You can visit your nearest branch by accessing the branch locator and communicate to the friendly consultants or give them a call on: 0860 100 372
For more personal loans simply click here.