The South African financial sector is growing at a rapid rate and the industry has a number of competing institutions hoping to provide South Africans with quality financial solutions. Absa bank is one of the big four banking institutions in South Africa and strives to provide ground-breaking financial solutions and competitive banking options. The bank has a wide range of banking solutions such as transactional services, credit solutions and investment options.
The Absa Personal Loan is a flexible loan solution designed to help South Africans meet their most pressing financial needs. Offered from R3000 to a maximum of R350 000, the Absa Personal Loan is also offered with affordable repayment periods ranging from 12 to 84 months.
You get immediate access to your funds after approval and there are no penalties charged for early settlement of the loan.
To apply, you’ll need to be at least 18 years old and you need to provide a valid South African ID, proof of residence and proof of income. You can choose to apply online or at any Absa branch.
Absa offers a unique “Best Price Guaranteed” solution, which means that Absa will match like-for-like any interest rate offered by another registered financial services provider.
How to benefit from the Absa Personal Loan interest rate:
The Absa Personal Loan interest rate will be in accordance with the regulations set by the National Credit Regulator, so you will never be charged an exorbitant interest rate.
The interest rate will be fixed for the duration of the loan term, so you’ll know how much you can expect to repay every month.
By using the handy personal loan calculator you can work out your repayment amount as well as how much you are likely to pay in interest.