Absa group limited is considered one of Africa’s largest financial services groups, has more than 42,000 employees and is present in more than 12 countries. They offer diverse financial solutions for retail, business, corporations, investments, wealth management and others.
They have the goal to generate positive impact in all the countries they operate. They consider themselves a group focused on the future and who wants to help people and corporations at every step of the way. Courage and passion are the pillars of the company.
In this article, we will know a little better about one of the services offered by them: the Absa Personal Loan
Absa Personal Loan
The Absa Personal Loan is a personal loan offered by Absa Bank and designed thinking about people´s dreams and goals.
The amount of the Absa Personal Loan is R 15,000 up to R 350,000 and the repayment is between 12 months (1 year) and 84 months (7 years.).
The reason for the loan is not what matters most in this case, it can be for renovation of the house; buy a new house, education of the children, expenses with weddings, travel, consolidation of debts, among others.
Rates – Absa Personal Loan
Before choosing which loan is the ideal for what the person is looking for, it is very important to check and analyze the interest rates corresponding to the loan.
In the Absa Personal Loan the annual interest rate is customized (APR) and reaches the maximum of 17.5%. It is also important to note that an initiation fee (according to the value of the amount) and a monthly service fee (R 69) will be charged.
Let’s show a representative example! If the amount borrowed is R 50,000, to be paid in 24 months (2 years), with interest rate of 19%, service fee of R 69 and initiation fee of R 1,207.50, the amount to be paid monthly will be R 2,650, 30.
If you have any questions, an online calculator is available. In the calculator it is possible to make tests with different values of amounts and analyze the interest rates. Of course the calculator is just to get a better idea of the loan and there is no guarantee that the amount will be exactly the same at the time of the application.
The application – Absa Personal Loan
The application for the Absa Personal Loan can be done in three different ways: by the website, by the phone or at a branch office nearest to you.
What do I need to apply? – Absa Personal Loan
To apply for the Absa Personal Loan you must:
– Have a regular monthly income (At least R 2,000 per month)
– Be 18 years old or more
– Have a bank account
The documents required at the time of application are:
– A valid South African ID document or Smart card
– Proof of residential address such as a municipality or rates bill (not older than three months)
– Latest three payslips or three months’ bank statements
Benefits – Absa Personal Loan
The Absa Personal Loan has some benefits that deserve to be highlighted. It is a highly secure company, with flexible terms, requires just a few documentation or requirements and has competitive interest rates.
Useful Information – Absa Personal Loan
Absa Personal Loan
Telephone: 0860 100 372