ABSA Loans

absa loans

ABSA Loans – most people often find themselves in a financial fix, and are unable to get out of that financial hole by themselves. This is where ABSA Loans come in handy. ABSA is one of South Africa’s biggest financial institutions that offer a wide range of financial products and services.

ABSA Debt Consolidation Loans – These ABSA Loans will make you save on debt with a 8.8% interest rate. You can also consolidate your debt into your ABSA Credit Card, and also make one payment per month instead of multiple loan repayments over a repayment term of between 18 to 48 months, while you keep a record of your payments.

ABSA Express Loans – these ABSA Loans are ideal for individuals who don’t have enough money and are looking for an immediate financial boost. ABSA Express Loans are short-term loans that gives you access to cash which you can pay back within 30 days. You can get access to funds ranging from R 1 500 to R 8 000 and you will have the option to choose a repayment plan between 1,3 or 6 months. So how do you qualify for such a loan you might ask? You can apply for ABSA Express Loans if your monthly income exceeds R 1 500.

ABSA ATM Loan – Absa offers its customers the chance to gain access to loans directly from an ATM. This quick, hassle-free process also enables you to check if you qualify for a loan through an ATM as well. Through the ABSA ATM Loan you gain zero interest charges if the loan is paid within a month. Only a small start-up fee is applied on all ATM loans. This ABSA ATM Loan has very low processing requirements and formalities. The only check up is on your credit history and access to online banking. When applying for a ABSA ATM Loan through any ATM machine across South Africa, and once approved, the money is available instantly in your account. This loan has a 10% admin fee and a repayment term of 30 days, and should you pay it back before the 30 days expire you won’t pay for any penalty fees and interest, but if you pay after the 30 day period you will incur some penalty fees.

ABSA Personal Loans – if you are looking to borrow long term loans then this type of ABSA Loans is ideal for you, giving you access to funds that range from R 3 000 to R 150 000. Repayment plans range from 12 months to 84 months making it a little easy on your pocket. These ABSA Loans are ideal for those unexpected situations like family medical fees or investments such as home renovations or paying your child’s education expenses. The good thing about ABSA Personal Loans is that if you pay your repayments early you won’t be charged penalties.

ABSA Revolving Loans – what is a revolving loan you might ask? A revolving loan is a loan facility that gives you access to funds anytime you need it once you have paid at least 15% of the initial amount from your initial loan. For ABSA Clients earning over R 8 000 a month they would qualify for such a facility and they are charged a fixed interest rate which doesn’t fluctuate when you re-borrow again. The good thing about ABSA Revolving Loans is that you don’t have to submit a new application every time you want to re-borrow funds.

ABSA Overdraft – an overdraft allows you to borrow money that exceeds the money you actually have in your bank account (dependent on a pre-agreed limit). ABSA Overdraft facility is available to clients who earn more than R 3 000 a month and interest is charged daily.

Absa Vehicle Finance – Absa has been helping individuals like you for decades to finance their vehicle of their dreams, whether it be a new or used car, Absa has a solution for you. Absa can also help you buy your dream car from a private seller with vehicle finance, trade-in deals and owner verification and this can all be done through their approved dealerships.

Requirements for applying for ABSA Loans

In order for your ABSA Loans application to be successful you will need to meet the following basic criteria:

  1. Must be a South African citizen with an ID and over the age of 18 years
  2. You will need to be permanently employed and provide proof of employment such as your current pay slip
  3. Must provide proof of residence no more than 3 months
  4. Must ensure that they have a good credit record and not be under administration, debt review or blacklisted

For more information regarding ABSA Loans visit their website www.absa.co.za for more details.

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