The Absa express loan can definitely work for you if you are looking for a loan between R1 500 and R8 000. This loan is a perfect solution in cases where you need money and want to pay it back quickly.
The good news is that you do not have to be an Absa client in order to be able to apply. To apply you need to have a transactional account with Absa or any other bank.
Is it a good idea to apply for a loan? If you find yourself with a need for extra cash and you don’t have it readily available there is nothing wrong with applying for a personal loan. Personal loans can help you meet any financial obligations you might have.
Why Absa Express Loan Can Work For you
Well, it can definitely work for you as we already mentioned that even non-Absa clients can apply. It works best in situations where you need access to funds quickly and for a short period.
All of us once in a while find ourselves in a situation where we are need of extra cash. It is good to know that at such times we can apply for an Absa express loan.
When you borrow money and pay it back in time you help build a good credit record.
Absa is a registered credit provider. They are also one of the leading banks in South Africa. As a bank their operations are regulated, and this gives you peace of mind knowing that they will have fair dealing with you.
What about interest rates?
Well, we can share the good news with you that their interest rates are fixed. This means that even when interest rates increase your repayments will stay the same.
Maximum monthly interest rate (APR): 5% for first time loan taken or 3% if the loan is taken in the same calendar year. Services fees and initiation fees apply.
Absa knows that people will have different budgets and varying circumstances. For this reason, they offer flexible repayments periods. They offer a minimum period of two months with the maximum being six months.
Will Your Application Be Automatically Approved? No. And if you think about it is only fair for them to do quick credit checks before they approve a loan. The last thing Absa would want to do as a responsible lender is to approve a loan that you cannot afford. Your credit record is the one which will determine how much is approved.
If your credit record is in order your application will then be processed and finalised.
Where can you apply for a Absa Express Loan? Application can be done in any one of two ways. You can either apply online or visit a Absa branch. Our recommended way of applying is the online method. Our reason is that online application gives you the convenience of being able to apply from the comfort of your home or office and at any time.
What you need to apply
1. You must 18 years or older with a valid South African ID.
2. Proof of residence
3. You need to need to earn a monthly income of R1 500
4. Three months bank statements
5. A transactional account with Absa or any other bank active for at least three months
If you meet the criteria above and are in need of extra cash between R1 500 and R8 000 we encourage you try the Absa express loan. This is a personal loan that can work for you. Visit their website www.absa.co.za or any nearest branch and submit your application.