With ABSA personal loan you can get the financial freedom that you need and get to do the things that you were unable to do. ABSA is one of South Africa’s leading banks that offers personal loans with lower interest rates than any other bank in the country. ABSA Bank offers a variation of loan products that are specifically made to suit different individual needs like personal loans and instant loans.
With ABSA personal loans you can borrow a loan amount that starts from a minimum of R1500 to maximum of R350000, repayment term is personalized for all loan amounts and they range from 6 months up to 84 months and the repayment period will be determined by the loan amount you borrowed. For example, if you borrow a ABSA Personal Loan of R1500 and decide to repay it in a period of 6 months, with an interest rate of 3% you’re going to pay R396,34 every month for 6 months.
What is needed to apply for ABSA Personal Loan
- You must be South African with an ID document
- Must have recent proof of residential address
- Must have 3 months bank statement or 3 months payslips
- Having a good credit score is a plus because that can increase your chances of qualifying for the loan and getting the loan amount you desire
How to qualify for a ABSA Personal Loans
In order to increase your chances of qualifying for a ABSA Personal Loan with a repayment term of 2 months to 6 months, irrespective of the loan amount you must be earning R1500 monthly, must be a South African citizen, 18 years or older and you should be an active ABSA bank customer. To qualify for a loan with a repayment term of 12 months or more you must be earning R2000 monthly that’s the only difference and of course to properly secure the loan you must have a good credit profile.
ABSA Contact Details
To contact ABSA for more personal loan information you can visit your nearest branch, give them a call on: 0860 100 372 or you can use the USSD code *120*2272#
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