Absa bank provides a number of different loan types, such as:
- Personal Loans
- Revolving Credit facility
- Express Loans
- Overdrafts
- Study Loans
Personal Loans offer up to R350 000 in finance, with a minimum of R3000. Repayments are flexible, offering 12 to 84 months to pay. Absa personal loans provide hassle-free finance at competitive interest rates. Unsecured in nature, there is no collateral needed for this loan and approval is simply based on your creditworthiness.
To apply for this loan, you will need to provide:
- Proof of ID
- Proof of residence
- Proof of earnings
These personal loans are a form of Absa Online Loan. Existing customers or new Absa customers are able to apply online.
The Revolving Credit Facility from Absa is available to individuals who have a transactional account with Absa. To qualify, individuals need to be earning R8000 or more per month. You can re-borrow more loan funds when you pay off a minimum of 15%of your initial loan. An added benefit is that you don’t have to re-apply for a new loan if you need more cash.
Offering R15 000 to R150 000, this loan is offered at fixed monthly repayments. Clients are able to apply for this Absa Online Loan by visiting www.absa.co.za
The Overdraft facility from Absa is a reserve of extra money available in your Absa account. To qualify for this loan, you need to have a minimum monthly income of R2000 and a good credit record. You also need to have an existing Absa bank cheque account or be in the process of applying for one.
This Absa Online Loan is offered in 3 ways: fixed facility, reducing facility and indefinite facility.
To apply, you can log on to your account and select the cheque account option.
