How to apply for the Absa Personal Loan?
Check out how to apply for an Absa Personal Loan to access affordable fees and rates while paying for an unexpected or expected expense.
Apply for an Absa Personal Loan: borrow up to R350 000 and repay in up to 84 months
It is simple to apply for an Absa Personal Loan and enjoy flexibility and affordability. So, if you have to cover an unexpected or expected expense, a loan from Absa might be worth considering.
But, before going through with it, take a look at the benefits you get:
- Amounts of up to R350 000;
- Terms of up to 84 months;
- Flexible repayment plan;
- Rates start at only 13,75%.
Additionally, you will be covered in case something happens with Credit Protection. In summary, it lets you feel peace of mind if an unexpected situation happens, including death, critical illness, disability, and others.
Also, if another financial institution offers a good deal for you, Absa will work on delivering a better condition. The Price Guarantee provides you with a claim form that you can fill out to get a better deal with Absa rather than with another like-for-like Competing Loan Offer.
Online Application Process
Now, learn how to apply for an Absa Personal Loan.
In the first place, you need to meet some requirements, such as:
- You must earn a regular income of at least R2 000 per month;
- You need to have a bank account where your income is paid.
These requirements are applied in case you want a personal loan with terms of over 12 months.
On the other hand, if you want a loan with terms that range from 2 to 6 months, you must:
- Earn a regular monthly income of at least R1 500;
- Have an Absa account.
In both cases, you must be at least 18 years old.
Then, fill out the online forms on the official website with your personal and financial information.
You will be redirected to another website
Application Process using the app
If you have an Absa account, you may use the mobile app to ask for a personal loan.
In fact, Absa clients may have a provisional loan offer already available.
Absa Personal Loan vs. FNB Loans
As shown, Absa offers flexible and affordable personal loans if you need money to cover something you want.
However, you can always compare to other lenders in order to make a wise decision.
FBN Loans are personalized and can deliver an amazing credit solution for you.
|Absa Personal Loan||FNB Loans|
|APR||Personalized (minimum 13,75%)||Short term: up to 5% per month (max)Long term: from 16.5% to 28.25% (based on the current prime rate)|
|Loan Purpose||Personal (home improvement, medical expenses, and more)||Personal (larger unplanned or planned expenses)|
|Loan Amounts||Up to R350 000||Up to R300 000|
|Credit Needed||Not disclosed||Not disclosed|
|Terms||Up to 84 months||Up to 60 months|
|Origination Fee||Not disclosed||Not disclosed|
|Late Fee||Not disclosed||Not disclosed|
|Early Payoff Penalty||Not disclosed||None|
Now, learn how to apply for an FNB Personal Loan.
About the author / Aline Augusto
Reviewed by / Aline Barbosa
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