Personal loans are quite essential to everyday life today than they were before. Almost anyone can get a personal loan today, and a number of banks are more than willing to offer one as long as you meet the requirements.

Absa, though seen as a new player in the market, is a formidable entity offering personal loans.

So, read on to find out more about the Absa personal loan packages here and how can you apply for them.

Loans Offered by Absa

There are a number of loans that you can get from Absa. You can get in touch with a representative from the bank to get a clear picture.

You can also visit Absa website and learn more about that. personal loans are offered under the ‘quick cash category’ of the bank.

There are three types of loans in this category. First, is the personal loan, then the Express loan, and lastly, the Instant loan. All these offer a different plan and a different setup.

Benefits of an Absa Personal Loan

Absa offers flexible rates, one of the best repayment terms, and has an easy to apply method. Here’s a more detailed breakdown of that.

Interest Rate

The interest rate as already stated is one of the fairest there is in the market today. You get a loan with an APR up to 17.5% on the maximum. That’s quite a reasonable fee for a personal loan.

Repayments Term

One part that can get you worried in most cases when it comes to taking a loan is the repayment term. With Absa, you get a flexible repayment term that you can easily manage.

You have from 12 months on the low and 84 months on the high when it comes to repaying your personal loan.

Pre-Qualification

All Absa customers are in essence pre-qualified for a loan with the bank. As a customer, you can also register online to find out how much is the loan limit that you qualify for.

Credit Limit

The other dragon you must slay when it comes to loans is just how much you’re being offered. Where Absa is concerned, you can get a personal loan from as low as R5000, to as high as around R350,000.

Eligibility and How to Apply

First of all, you need to be a South African citizen or a resident to be able to apply for a personal loan with Absa. You also have to be at least 18 years old and have a monthly income that isn’t less than R2000. You have to have an account to which the money will be deposited.

You can apply for a loan at Absa in three ways. One, you can visit any branch of the bank and fill in the application. You can also apply for a loan online which is by far the easiest of them. And, lastly, you can contact the bank through 0860 100 372 and you’ll be given the instructions.

How to Pay for the Loan

Another challenge that most people face when taking a loan is figuring out how they can repay the loan. With Absa, you have a number of options that you can use. You can either go to a branch physically or you can pay you loan online to save time.

Contact

Absa Bank’s head office is located on the 7th floor of 15 Troye Street, Johannesburg, South Africa.

Conclusion

With Absa, you can easily get a personal loan. The good part is that you have an easy way to access and apply for the loans and when you’re ready to pay, the process is equally easy as well.

Plus, you can apply for a loan, as long as you’re a customer, from the comfort of your home.

*Note: There are risks involved when applying for loans. Consult the bank’s terms and conditions page for more information.