ABSA Express Loan is just a perfect solution for you anytime when you need money and want to pay it back quickly.
It’s a short-term loan with a fixed repayment term of up to 6 months and also it is unsecured. So if you earn a regular monthly income, you can get a loan amount ranging between R1 500 and R8 000.
To Apply You Need:-
- A valid South African ID document or Smart card
- You must be 18 years or older
- Proof of residential address such as a municipal or rates bill and cellphone statement
- Your last 3 months’ payslips or bank statements showing a minimum monthly income of R1 500
- A transactional account with Absa or any other bank, active for 3 months or more
And here is how it works
- Minimum repayment term of 2 months and maximum of 6 months
- Maximum monthly interest rate (APR): 5% for first time loan taken or 3% if the loan is taken in the same calendar year. Services fees and initiation fees apply
- The monthly instalment on a R5 000 loan over 6 months at 5% per month would be R1 200. Terms and conditions apply.
- Credit protection is added to protect you against, death or permanent disability when you take out our loan facility
You can apply for ABSA EXpress Loan at any ABSA Branch Countrywide