Facebook Twitter Instagram
    Trending
    • Nelson Chamisa Launches Citizens Coalition for Change
    • Former DA Midvaal Mayor Bongani Baloyi Joins ActionSA
    • Regina King’s Son Commits Suicide
    • Nedbank Greenbacks Programme
    • Lewandowski and Putellas Win FIFA ‘Best’ Awards
    • Wonga Loans
    • Shepherd Bushiri’s Church Pastor Shot Dead While Praying
    • Kim Kardashian Upset Over Kanye West’s Accusation
    Twitter Facebook LinkedIn
    ONLINE REVIEWS
    • HOME
    • Entertainment
    • Finance
      1. Business
      2. Finance Reviews
      Featured
      December 13, 20210

      FNB Nav Wellness: FNB Is Offering Rewards For Sharing Your Vaccination Status

      Recent
      January 20, 2022

      Nedbank Greenbacks Programme

      January 18, 2022

      Wonga Loans

      December 13, 2021

      FNB Nav Wellness: FNB Is Offering Rewards For Sharing Your Vaccination Status

    • Lifestyle
      1. Fashion
      2. Food
      3. Health
      Featured
      December 14, 20210

      Brain Fog: What You Need To Know

      Recent
      December 14, 2021

      Brain Fog: What You Need To Know

      September 25, 2021

      5 Ways with Lentils

      September 24, 2021

      Heritage Day: What is the day all about?

    • Motoring
    • Sports
      1. International Sports
      2. Local Sports
      Featured
      September 26, 20210

      Oleksandr Usyk Ends Anthony Joshua’s Reign as World Heavyweight Champion

      Recent
      January 19, 2022

      Lewandowski and Putellas Win FIFA ‘Best’ Awards

      October 2, 2021

      Kaizer Chiefs Highest paid players in 2021

      September 26, 2021

      Oleksandr Usyk Ends Anthony Joshua’s Reign as World Heavyweight Champion

    • Technology
    • World News
    ONLINE REVIEWS
    You are at:Home»Finance»Absa Personal Loan
    Absa Personal Loan

    Absa Personal Loan

    0
    By admin on October 29, 2021 Finance, Finance Reviews

    The Absa personal loan is one of the most popular personal loans in South Africa. This is because Absa is one of the leading banks in South Africa.

    In addition, when you apply for an Absa personal loan, Absa promises to give you the best interest rate. As a matter of fact, Absa promises that if you switch your personal loan to them and get a lower interest rate elsewhere, they’ll beat it, subject to their terms and conditions.

    In this article, we will look what you need to apply for an Absa personal loan and how you can apply for the loan.

    Absa Personal Loan Overview

    Loan Amount: Up to R350 000

    Terms: From 12 to 84 months (from 2 months for current Absa customers)

    Interest Rate: Personalised Annual Percentage Interest Rate (APR), up to the maximum of prime +17,5%.

    Representative Example:

    Loan Amount:                R50 000
    Terms:                             36 Months
    Interest Rate:                 21%
    Initiation Fee:                 R1 207.50
    Service Fee:                     R69
    Monthly Repayment:    R2 135.74
    Total Repayment:          R76 469.25

    What you need to know

    The Absa personal loan is a loan product from Absa bank which is an Authorized Financial Services Provider and a registered credit provider.

    Absa is one of the leading banks in South Africa.

    The advantage of getting a loan from a bank as compared to other finance providers is that operation of bank is regulated. This means you can expect to be treated honestly and fairly.

    Personal loans from Absa are unsecured. This means you don’t have to provide any collateral in order to get a loan.

    Once your loan is approved, how you use your personal loans is entirely up to you. Some things you can use your loan for include school fees, medical expenses and vehicle repairs.

    How to apply and get approved

    The first thing you should remember is that for any form of credit, you’ll need a good credit record in order to get approved. This is also true when you apply for an Absa personal loan.

    Your credit record and affordability will be used in determining how much you qualify for.

    Application for a personal loan, can be done online, through a branch or by calling the Absa call centre on 0860 100 372.

    To apply for a personal loan over 12 months or more, you need to:

    • Earn a regular monthly income of at least R2 000 per month
    • Have a bank account into which your income is paid
    • Be 18 years or older

    To apply for a smaller personal loan over 2 to 6 months, you need to:

    • Earn a regular monthly income of at least R1 500 per month
    • Have an active Absa bank account into which your income is paid
    • Be 18 years or older

    You’ll need the following documents:

    • Your ID book or card
    • Proof of residence (not older than 3 months)
    • Last 3 months payslips or bank statements

    To make sure you are approved for a personal loan you’ll need to make sure you have a good credit record.

    Also, make sure you meet all the requirements listed above. Furthermore, when you submit your application make sure all supporting documents are available to avoid delays in your application,

    In addition, make sure you can afford the loan as finance providers will not approve a loan that you cannot afford. To check affordability, you can make use of the Absa personal loan calculator.

    Absa Personal Loan Calculator

    This is a useful took found on the Absa website that can be used to check what your monthly repayments will be for your desired loan amount.

    We strongly recommend making use of the Absa personal loan calculator before submitting an application.

    When you get an idea of what the monthly repayments could be, this will help you see if you can afford the loan.

    In addition, you’ll be able to see the interest you have to pay back and the total amount payable.

    Important thing to note is that the calculator will only give you estimates. To get more accurate figures you can get hold of Absa for a quotation.

    Conclusion

    Absa is a bank which has been operating in South Africa for years. Their track record speaks for itself.

    You can definitely trust them with their loan products. And as stated earlier, the operation of banks in South Africa is regulated.

    Besides personal loans Absa also provides other loan products. For other products see the following articles:
    Absa Vehicle Finance
    Absa Home Loans
    How To Apply for An Absa Express Loan

    Absa Personal Loan Contact Number

    For more information, you can contact Absa directly using the details below:

    Website: www.absa.co.za

    Telephone: 0860 100 372

    Address:
    7th Floor
    Absa Towers West
    15 Troye Street
    Johannesburg
    2001

    Share this:

    • Facebook
    • Twitter
    • Pinterest
    • Reddit
    • Tumblr
    • WhatsApp
    • LinkedIn

    Related Posts

    Nedbank Greenbacks Programme

    Wonga Loans

    FNB Nav Wellness: FNB Is Offering Rewards For Sharing Your Vaccination Status

    Comments are closed.

    • Popular
    • Recent
    • Top Reviews
    July 6, 2021

    How Easy and Affordable Is It to Apply For a Nedbank Personal Loan?

    August 27, 2021

    Cristiano Ronaldo Makes Sensational Return To Manchester United

    August 11, 2021

    Lionel Messi Joins PSG

    July 15, 2019

    Simona Halep Beats Serena Williams To Win Wimbledon Final

    October 19, 2020

    MTN8 Quarterfinals Results And Semi-Finals Draw

    January 25, 2022

    Nelson Chamisa Launches Citizens Coalition for Change

    January 24, 2022

    Former DA Midvaal Mayor Bongani Baloyi Joins ActionSA

    January 22, 2022

    Regina King’s Son Commits Suicide

    January 20, 2022

    Nedbank Greenbacks Programme

    January 19, 2022

    Lewandowski and Putellas Win FIFA ‘Best’ Awards

    January 20, 2022

    Nedbank Greenbacks Programme

    January 18, 2022

    Wonga Loans

    November 9, 2021

    Absa Funeral Cover

    October 29, 2021

    Absa Personal Loan

    October 7, 2021

    FNB Student Loan

    Follow Us On Facebook
    Follow Us On Facebook
    Must Reads
    January 25, 2022

    Nelson Chamisa Launches Citizens Coalition for Change

    January 24, 2022

    Former DA Midvaal Mayor Bongani Baloyi Joins ActionSA

    January 22, 2022

    Regina King’s Son Commits Suicide

    January 20, 2022

    Nedbank Greenbacks Programme

    January 19, 2022

    Lewandowski and Putellas Win FIFA ‘Best’ Awards

    Follow us on Twitter
    My Tweets
    About

    ONLINE REVIEWS

    Welcome To Online Reviews. We are dedicated to give you the best reviews online. Our reviews cover topics such business, entertainment, finance and sports.

    Subscribe to our newsletter:

    Popular Posts
    August 27, 2021

    Cristiano Ronaldo Makes Sensational Return To Manchester United

    August 11, 2021

    Lionel Messi Joins PSG

    July 6, 2021

    How Easy and Affordable Is It to Apply For a Nedbank Personal Loan?

    Recent Posts
    January 25, 2022

    Nelson Chamisa Launches Citizens Coalition for Change

    January 24, 2022

    Former DA Midvaal Mayor Bongani Baloyi Joins ActionSA

    January 22, 2022

    Regina King’s Son Commits Suicide

    Copyright © 2022 | Online Reviews | All Rights Reserved
    • About
    • Contact
    • Privacy Policy
    • Terms of Use

    Type above and press Enter to search. Press Esc to cancel.