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Absa Personal Loans

Make your dreams come true with Absa personal loans. Whether you are starting a home renovation project, acquiring your dream vehicle or financing your children’s tuition fees, Absa has the right finance solution for you.

Absa offers personal and business banking, credit cards, corporate and investment banking, wealth management as well as bancassurance. It is one of the prominent financial institutions of the African continent, serving 12 african countries.

To help you budget, we have created a loan calculator that can help to determine your likely monthly payment. Once you input the loan amount, adjust the loan term and then click calculate. It’s easy to use. Go ahead and give it a try.

Calculate repayments

Absa Study Loan

Absa
12 months
to 60 months
R15,000
to R100,000
10.00%

View fees & additional info +

Our study loan offers you the opportunity to borrow funds at a low interest rate to support yourself or someone you would like to benefit from study funding. Finance your full tertiary experience from the tuition fees, accommodation, study book and technical equipment you need for your studies. If you take out our study loan and you’re offered a lower interest rate elsewhere, we’ll beat it. Terms and conditions apply. Pay interest only for the 12 months and only start repaying from month 13.

Overview

Minimum loan amountR15,000

Maximum loan amountR100,000

Minimum term (months)12 months

Maximum term (months)60 months

Personal loan interest rates (base)10.00%

Personal loan APR10.00%

Monthly repayments (approx)R754

Total repayments (approx)R27,144

Total interest repayments (approx)R7,144

Rate typeFixed or Variable

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR3,000

GO TO Absa

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityNo

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feen/a

Missed payment feeUnknown

For debt consolidation?No

Sponsored No

Telephone0860 100 372

Data accurate as of12.07.2020

GO TO Absa

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Tired of those expensive repayments? Then switch your personal loans to Absa. It’s easy and with our guaranteed lowest interest rate, you will start saving money immediately. We can switch your personal loans of up to R350 000 and pay your creditors directly.

Overview

Minimum loan amountR15,000

Maximum loan amountR350,000

Minimum term (months)12 months

Maximum term (months)84 months

Personal loan interest rates (base)18.82%

Personal loan APR18.82%

Monthly repayments (approx)R845

Total repayments (approx)R30,420

Total interest repayments (approx)R10,420

Rate typeFixed or Variable

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR2,000

GO TO Absa

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityNo

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feen/a

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0860 100 372

Data accurate as of12.06.2020

GO TO Absa

Hide info -

No matter what your plans are, we’ve got a personal loan that suits your needs. We offer the widest range of personal loans of up to R350 000 with a loan repayment term of up to 84 months. If you take out an Absa Personal Loan and you’re offered a lower interest rate elsewhere, we guarantee to beat it.

Overview

Minimum loan amountR3,000

Maximum loan amountR350,000

Minimum term (months)12 months

Maximum term (months)84 months

Personal loan interest rates (base)21.00%

Personal loan APR21.00%

Monthly repayments (approx)R869

Total repayments (approx)R31,284

Total interest repayments (approx)R11,284

Rate typeFixed or Variable

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR2,000

GO TO Absa

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityNo

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feen/a

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0860 100 372

Data accurate as of12.06.2020

GO TO Absa

Hide info -

A cash loan from R2 000 up to R250 000. Fast, paperless application process. Decision in seconds. Cash in your account within 24 hours. Flexible repayment options; choose from 12 to 60 months. Free monthly statement via email or SMS. Customer Protection Insurance. Interest from as low as 15%.

Overview

Minimum loan amountR2,000

Maximum loan amountR250,000

Minimum term (months)12 months

Maximum term (months)60 months

Personal loan interest rates (base)15.00%

Personal loan APR15.00%

Monthly repayments (approx)R796

Total repayments (approx)R28,656

Total interest repayments (approx)R8,656

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR936.50

Minimum monthly incomeR2,000

GO TO RCS

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0861 729 727

Data accurate as of18.01.2020

GO TO RCS

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Get up to R250 000 over 1 – 84 months. Choose between the amount you want, the monthly installment that suits your pocket, or the option that gives you the lowest interest rate. Credit is approved in minutes and the money is available immediately. Pay fixed monthly repayments.

Overview

Minimum loan amountR50,000

Maximum loan amountR100,000

Minimum term (months)1 month

Maximum term (months)84 months

Personal loan interest rates (base)14.20%

Personal loan APR14.20%

Monthly repayments (approx)R797

Total repayments (approx)R28,692

Total interest repayments (approx)R8,692

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR3,000

GO TO Capitec Bank

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0860 66 77 89

Data accurate as of12.07.2020

GO TO Capitec Bank

Hide info -

Loans up to R250,000. Terms between 7 months and 72 months.

Overview

Minimum loan amountR10,000

Maximum loan amountR250,000

Minimum term (months)7 months

Maximum term (months)72 months

Personal loan interest rates (base)15.00%

Personal loan APR15.00%

Monthly repayments (approx)R805

Total repayments (approx)R28,980

Total interest repayments (approx)R8,980

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR2,000

GO TO African Bank

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityNo

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?No

Sponsored No

Telephone0861 111 011

Data accurate as of18.01.2020

GO TO African Bank

Hide info -

Tired of those expensive repayments? Then switch your personal loans to Absa. It’s easy and with our guaranteed lowest interest rate, you will start saving money immediately. We can switch your personal loans of up to R350 000 and pay your creditors directly.

Overview

Minimum loan amountR15,000

Maximum loan amountR350,000

Minimum term (months)12 months

Maximum term (months)84 months

Personal loan interest rates (base)18.82%

Personal loan APR18.82%

Monthly repayments (approx)R845

Total repayments (approx)R30,420

Total interest repayments (approx)R10,420

Rate typeFixed or Variable

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR2,000

GO TO Absa

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityNo

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feen/a

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0860 100 372

Data accurate as of12.06.2020

GO TO Absa

Hide info -

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Minimum and maximum loan periods vary between 1 months and 10 years. Comparison interest rates vary between 6.55% and 60% p.a. Total interest repayments vary between R685.05 and R844.12 over the life of the loan. *Comparison rate is based on an unsecured loan of R20,000 for a term of 3 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. These rates can change without further notice. All rates quoted are per annum. For more information regarding fees click on "View fees & additional info +" for each product or contact the provider.

What type of loan are you looking for?

Getting an Absa personal loan

Financial problems sometimes happen when you’re not expecting them. Thus, getting an Absa personal loan helps you to solve these sudden and urgent money problems. Most importantly, Absa personal loans accommodate your needs.

This is because they vary and adjust to match your budget and other individual circumstances. As such, you can get a loan amount of between R250 and R350 000 in your bank account. You can use the money for any purpose, including paying for your education.

How do you qualify for an Absa personal loan?

To apply for a personal loan with Absa you need:

  • your ID book or card;
  • proof of residence issued in the last 3 months;
  • payslips or bank statements issued in the previous 3 months;
  • to be 18 years and older; and
  • credit protection.

You can get a credit protection plan from Absa, or you can have your own.

How do you apply?

  1. Use the repayment calculator on this page to get an idea of your monthly repayments.
  2. Click the button “Go To Site”, you’ll be taken to Absa’s secure application page.
  3. If you have an active Absa bank account, login online on your mobile, tablet or PC.
  4. Click on “Apply” and select “Personal loan” from the menu that appears.
  5. Fill out the required details
  6. If the loan application is approved, you can have the money in your bank account in as little as minutes.
  7. If you are a new Absa account holder, apply online by completing the form. As a second option, you can visit Absa offices to apply in person.

How much money can you get with an Absa personal loan?

The minimum loan amount for this type of loan is R250. On the other hand, the maximum loan amount is R350 000. To qualify for this loan range, you need to be earning at least R2 000. However, smaller personal loan amounts (up to R8000) get repaid over 2-6 months. Furthermore, for these smaller amounts, you only have to be earning R1500.

What are the repayment terms?

The Absa personal loan is paid from 12-84 months. However, for existing Absa account holders, the repayment term can be from 2 months. Absa charges a service and initiation fee on top of the interest fee.

Benefits of getting an Absa personal loan

  • No security needed. This means you don’t have to use your property as collateral to get a cash loan. Instead, getting a loan depends on your credit history.
  • Absa offers a personal loan calculator that lets you know all the costs involved with getting a loan.
  • Once the loan is approved, the money is quickly transferred into your bank account for immediate use.
  • Affordable and competitive interest rates.
  • You also get Credit Protection to ensure that your loan still gets paid if you die, or become disabled, ill, or retrenched.

Absa study loan

If you need money to pay for your fees and studies getting an Absa student loan can brighten your future. Here’s what you need to qualify for the credit:

  • South African citizenship;
  • a salary or income of at least R3000;
  • proof of address; and
  • proof of acceptance or registration for an undergraduate or postgraduate qualification.

The student loan is available for parents, guardians, or part-time students who are fully employed and have proof of income. The minimum loan amount is R3 000, while the maximum loan amount is R150 000.

You can take a loan for every year of study to cover the costs of:

  • Prescribed textbooks;
  • Tuition fees;
  • Registration fees;
  • Accommodation;
  • Computer equipment that you use for your studies.

You can apply for an Absa study loan by visiting their branch, through an Absa student bureau, and lastly by calling their call centre.

Absa express loan

This is a special short term loan that offers quick cash which is then paid back within two to six months.

For those with a regular monthly income, you can get:

  • A minimum loan amount of R 1 500
  • A maximum loan amount of R 8000

Interest rate is set at 5% for the first loan that you take in a year and 3% for any other loans that you also take within the same year. In addition, service and initiation fees also apply.

Absa mobile banking

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