Rating based on 76 reviews

Property Finance offered by Absa Bank

Updated

  • Low-interest up to 10.25%
  • Repayment up to 30 years

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Absa Bank homepage

Author Absa Bank. Screenshot of Absa Bank website. [Accessed May 13, 2018]

About Absa Bank

ABSA BANK Limited (Absa) is a part of the Barclays Africa Group. 

We offer a range business, corporate and investment banking options that our clients can trust. Our division has branches that offer wealth management products and a variety of different services.

Our values are what set us apart in the business world and something we take very seriously to uphold at all times.

  • We aim to give every client the respect that they deserve

  • We aim to always operate with the highest level of honesty and integrity
  • We strive for excellent customer service of the highest order
  • We aim to manage our business in such a way that it grows from strength to strength
  • We aim to always put our clients’ needs first and foremost

Premium banking

Our premium bank options let you take control of your money. For as little as R169 per month, you will gain access to a wide range of benefits and exclusive services. Our lifestyle benefits will help you be able to save for the future. If you earn at least R25 000 per month you will be able to qualify for this banking option.

The benefits of opening a premium account with ABSA are as follows:

  • You will have access to your premium banker 24 hours a day through online chat
  • Free home loans advise and support
  • You will be granted access to an overdraft facility
  • Lifestyle benefits that include currency investment opportunities, exclusive lounge access and a host of other travel benefits
  • Family benefits that include a 50% discount on your second premium cheque account for your partner.
  • Access to your debit, credit and savings account through 1 card
  • Absa rewards program – get cash back and save when you swipe your credit card

Absa Bank Services

Absa offers a smarter banking solution to our clients in the form of our premium banking account.

This amazing account will only cost you R169 per month and includes an overdraft facility.

Other benefits of this account are as follows:

  • You will have access to free online banking
  • Access to free mobile banking via our banking app that can be conveniently downloaded to your cell phone
  • We will sign you up for our free Notify Me SMS notification service
  • All your swiping on your account is completely free
  • You will get 7 free ABSA cash withdrawals
  • 5 free ABSA bank cash deposits per month
  • Your debit card will be registered to the tap and pay technology, making it even easier for you to pay at the tills of the most popular shops
  • Pay your accounts via the walletdoc app or via our website
  • Keep all your important card details and payment information in your Master Pass digital wallet

Grow your wealth with us

ABSA bank would like to help you grow and manage your wealth. We have made this possible by adding the following wealth benefits:

  • You will be given expert advice and service from our financial advisors on property finance and personal loans
  • Our financial needs analysis will help you create and manage your wealth
  • Our virtual investor tool will assist you in finding the investment that is right for you
  • With Investor Plus you will have access to your money when you need it
  • Our Dynamic fixed deposit lets you choose the amount you would like to invest and how much money you will be able to get out straight away
  • We will assist you in opening a free stockbroking account

Absa Bank Product Details

  • Loan Type Property Finance
  • Interest Rate 10.25%
  • Repayment 5 years to 30 years

Summary of Services

  • Home Loans

ABSA - Get your dream home today

Your family is very important to you and to us. We want your entire family to benefit and make use of our ABSA financial products.

It is now easier than ever to get your entire family involved and teach your children the benefits of saving and planning for their financial future. Our family account boasts the following benefits:

  • 50 % off of your spouse’s bundle account fee
  • Our free MegaU account that was specifically designed for children under the age of 19, to teach children the importance of planning ahead for their financial futures.
  • We offer an R25 000 death benefit that will help cover funeral costs should the unthinkable happen.
  • We offer an education protector to protect your children’s education if you find yourself unable to pay school fees
  • We offer a free will and testament service to make sure that your family is taken care of after you are gone.

Home loans explained

Our expert home loans are available if you would like to purchase, build from scratch or invest in a property. Do you earn or have a joint income of R23 300 a month or less? And are you a first-time buyer? If yes, you should consider taking a home loan with us.

As a first time buyer, you will receive the following benefits if you decide to purchase the property that you have always wanted.

  • Get up to a 100% financing on your home loan
  • Choose between our flexible repayment options of up to 30-year terms
  • Protect yourself and your investment with our Home Loan protector policy, we will pay off your home loan in the event of your death
  • We will help you manage your debt and come up with a solution to help you take control of your debt
  • We will give you updates via free eStatements
  • You can apply via our online loan application system
  • Access to our free Borrower Education Program

What do I need to apply?

  • A valid South African ID or passport
  • A signed offer to purchase (in the event that you want to purchase the property)
  • Your latest pay slip. If you are self-employed, we will need a bank statement showing your last 3 months transactions

Build your dream property 

If you would like to build your dream property from the ground up, we can also assist you with this dream. Our building loan option gives the client the ability to create their dream home. The building home loan can be used for both the vacant land and for building the actual house.

How does it work?

The building home loan works a bit differently for the tradition home loan, there are specific steps that you will need to follow.

  1. Find a piece of vacant land that you would like to build on
  2. Find a builder that is registered by the National Home Builders Registration Council
  3. You must remember that you will need to start paying back your home loan after 9 months regardless of whether your home has been built to completion or not
  4. Your repayment amount will be calculated on the outstanding balance of the loan.
  5. You will be given 9 months to complete building
  6. The final payment will be done when you have received an occupation certificate from the municipality

Interest will start accumulating as soon as you have made your first payment – this is referred to as interim interest

Customer Reviews & Testimonials

March 2019

As a massive lender in South Africa, it is no wonder that they offer such great quality products and services that all South Africans love. They operate with the highest level of integrity and ho...

Derrick M
— Cape Town —

February 2019

With the small amount of R169 you can gain access to a wide range of customer benefits and exclusive offers only for Absa customers. Get treated like royalty and reap the lifestyle benefits that ...

Marjory G
— Beaufort West —

December 2018

Thanks to Absa my family and I were able to get the money that we needed to finance our new home. It was a daunting yet exciting venture and Absa made it all the more pleasant. Thank you Absa!

Abe J
— Butterworth —

Absa Bank Contact Details

Physical Address

  • 28 Marine Dr, Paarden Eiland Cape Town Western Cape 8000 South Africa
  • Get Directions

Opening Hours

  • Monday 08:30 – 15:30
  • Tuesday 08:30 – 15:30
  • Wednesday 08:30 – 15:30
  • Thursday 08:30 – 15:30
  • Friday 08:30 – 15:30
  • Saturday 08:00 – 11:00
  • Sunday Closed –