Rating based on 7 reviews

Absa Personal Loan

Updated

  • Personal loans up to R350,000
  • Easy loan application
  • Repayment up to 84 months

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Absa homepage

Author Absa. Screenshot of Absa website. [Accessed October 3, 2021]

About Absa

Absa offers a range of services, including retail, business, wealth management, corporate, and investment solutions to customers across South Africa.

They aim to create close relationships with their clients to empower them to achieve more and save better.

The purpose of Absa

Their purpose is to provide financial solutions to all South Africans and create possibilities for those who need help. Absa services are flexible and quick to use when you want to apply for a loan, and their consultants are there to help clients find the financial assistance they need. Their consultants won't offer any service that the client cannot afford, as they believe in responsible lending.

Absa's four strategic imperatives:

  • To lead with purpose and deliver shared values to their broad range of stakeholders.
  • Provide offers and help through their digital distribution channel that aligns with their customer's behavioral patterns.
  • Take care of customers' needs by delivering propositions on a personal level.
  • To establish a competitive and diverse market that meets clients' expectations.

Clients choice on loan application

In 1991 Absa was founded as a bank, and now, 30 years later, the company has experienced growth in many areas. They have made sure to keep up with technological innovations so that clients can access banking wherever they are. Anyone can now access Absa Banking services by going to any of their branches, by contacting through use of a telephone or alternatively making an online inquiry.

Absa Services

Absa aims to provide personal loans that are flexible and affordable to anyone in need.

Personal loans online are unsecured, meaning that clients do not need to provide collateral. They are perfect for when clients need money for something they need but can't afford without help, such as medical bills or home repairs.

Benefits of getting an Absa loan

Absa is well known for its flexible repayment terms offered on all their loans; They also provide the broadest range of personal loans in South Africa. Clients can now borrow any amount for up to R350 000 and choose a repayment term of up to 84 months.

Apply at Absa for access to the lowest interest rate charged on Personal Loans in South Africa.

Requirements for loan application

Absa's personal loan is unsecured, meaning they don't ask for collateral to secure the loan. Anyone who applies for a loan needs to be of legal age and have a bank account where their income gets paid. Regular earnings between R1500 and R2000 are also required. Clients will be required to provide bank statements, payslips, proof of address, and identity upon applying for their loan.

Application criteria at Absa

Anyone who is a South African citizen and meets the basic requirements can apply for a loan or financial aid at Absa. Those who currently have an Absa bank account will find it easier to use and might also get a better interest rate offered. New clients with a good credit record will also get a low rate. Absa will have to confirm that they can work with the client's current bank.

Absa – Personal loan

  • Loan Type Personal loans
  • Loan Amount up to R350,000
  • Repayment 84 months

Benefits of Absa

  • Competitive interest rates
  • Guaranteed saving with low installments
  • Repayment periods are flexible 

Personal loan calculator


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The interest rate of a loan will vary based on your credit score and risk profile.

This loan calculator is for illustration purposes only.
The use of this Online loan calculator is subject to our terms of use.

All banks charge an interest rate, but Absa promises to provide options with lower than the standard rates.

All loan offers have different interest rates charged as the client's credit score impacts the percentage. A good credit score enables those who apply to get a low rate personal loan than those with an average score.

Absa loan calculator 

The Absa Loan calculator on their website is there to help clients to plan their finances. Clients input the amount they want to borrow, whereafter the loan calculator displays the possible repayment term. If the l calculator displays terms that the client agrees with, they can go ahead and ask for a quote, free of charge.

Absa types of personal loans 

Clients can now choose between the shorter and longer-term personal loan options. The requirements are mostly the same to apply for both, and the only difference is the regular monthly income requirement:

  • To apply for a personal loan for 12 months or more, clients need a regular monthly income of at least R2000 per month.
  • For a smaller personal loan of 2 to 6 months, clients need to earn at least R1500 per month.
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Absa is a trusted & reliable provider of personal loans

In our review, Absa adheres to the compliance criteria in accordance with the National Credit Act, where the granting the loan will not cause financial distress to the consumer.

Absa is a registered credit provider in South Africa: NCRCP 7

Customer Reviews & Testimonials

August 2019

I want to compliment the excellent service I received from Absa. My consultant was beneficial and assisted me with the mobile app and even the Absa law. I appreciate her work; she was friendly an...

C Oliver
— Randburg —

March 2020

I visited Absa over the weekend and had such a fantastic customer service experience. He was accommodating at assisting me and did so patiently and with clear explanations of product features. I ...

D Davis
— Kempton Park —

June 2019

I am happy with the service I received at Absa. The staff is accommodating and won't give up until you have been assisted with what you need.

B Cooper
— Benoni —

Absa Contact

Physical Address

Opening Hours

  • Monday 08:30 – 16:30
  • Tuesday 08:30 – 16:30
  • Wednesday 08:30 – 16:30
  • Thursday 08:30 – 16:30
  • Friday 08:30 – 16:30
  • Saturday – Closed
  • Sunday – Closed