For individuals looking to borrow some cash, ABSA has a range of affordable loans available. Individual and Business suites are available to solve all kinds of finance needs.
ABSA Express Loan:
These loans give clients access to funds ranging between R1500 and R8000 over a short-term period. Repayment periods are from 1, 3 to 6 months. Applicants need to be earning R1500 a month. The attractive factor of this loan lies in the quick accessibility to the funds upon approval. Clients can repay the loan before their next pay day.
ABSA Personal Loans:
These loans are more long term in nature and offer larger amounts of money. Clients also have larger periods of time to repay. ABSA Personal Loans give clients up to R150 000 in finance, with minimum loan amounts starting from R3000. 12-72 months are the repayment terms on this loan. Additionally, there are no penalty fees for early repayments. A minimum income of R2000 is required for qualification.
ABSA Revolving Loans:
Individuals earning R8000 per month have access to this facility. Clients have access to funds whenever needed. This loan option allows clients to re-borrow funds that they have already paid off without going through the process of re-applying from scratch. Interest rates are fixed on this loan, which allows clients to know exactly how much they are paying back on a monthly basis. Clients are able to borrow from R15 000.
Individuals earning more than R3000 monthly may qualify. Qualifying clients are able to borrow money when they have depleted funds in their accounts. There is daily interest accrual, so the sooner clients repay the overdraft, the better. This facility is available on ABSA Silver, Gold, Medical, Professional or Platinum cheque accounts.
To apply, visit an ABSA branch, or visit www.absa.co.za.