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If you have too many options in your head for loans but are not sure which would suit you, then this article is for you. There is company in South Africa known for its variety and effectiveness when providing loans, and it is called ABSA.

How does ABSA instant loan work?

With a quick application, you can get access to immediate cash. If you need to borrow cash from ABSA for a specific purpose, an instant loan can be a great option. You can get quick cash at any moment you need it. You can get in online or through an ATM. This is how it works:

  •          The term for repayment generally last thirty five days
  •          The amount generally ranges between R250 and R8000

Which are some of its benefits?

  •          You can carry out the application online, which means that you do not have to wait on queues
  •          There is no paperwork, which means that you do not have to print documents or even attach them online with your phone. At an ATM, you can apply for an instant loan
  •         It does not matter if it is night or day, you can obtain cash whenever you are in need of it. This is particularly useful when you have to deal with unexpected costs or expenses

 

Many clients tend to wonder if an instant loan is similar to a micro loan. There is no micro loan per se at ABSA, but instant loans qualify or work similarly to a micro loan. The minimum amount is small so that you can take just what you need, while the repayment term is still short.

How do I qualify for Absa instant loan?

In order to qualify an ABSA instant loan, you will need to meet certain requirements and qualifications established by the agency:

  •          You need to have a good credit record. This means that the company will look into your credit profile to check your financial “behavior” and how you have dealt with possible debts
  •          Those who apply need to earn a minimum income of R250 or higher
  •          You will need to have a bank account at ABSA where you will receive your monthly salary
  •          Those who apply must be of eighteen years of age or onwards

How to apply for ABSA instant loan online?

This is one of the great advantages of ABSA: the application. Some banks or financial institutions still today prefer to handle matters personally. This is not the case of ABSA. The company prefers to give priority to the comfort of the client, allowing him or her to apply online or through an ATM. There is an online loan application which works quite fast and will not require much data from you. Before carrying out any process, the system asks clients to log on or register by introducing an account number and a pin.

What can a temporary loan be used for?

A temporary loan can be used for multiple reasons. They are meant to help you in cases of cash emergencies. You can use them when an unexpected event or situation takes place and you need quick cash. A temporary loan can also be used if you have to fix your vehicle in a rush, or you need to cover certain medical expenses. In this case, ABSA provides short term loans that work as temporary loans and they are considered the same as instant loans. These are easy, quick loans that you can access with the classical requirements that were mentioned before.

As these temporary loans are the same as instant loans, you should know that:

  •          You will have a repayment term of thirty five days
  •          You will pay an initiation fee set at ten per cent
  •         You would have to comply with certain conditions and terms
  •          In case there is death, you can access credit protection

What does an express loan mean? Does ABSA bank offer an express loan?

ABSA offers express loans, which means that, if you need cash and do not want to extend the time of paying it back, you can ask for cash that is express. These are some its characteristics:

  •          Access a loan from R1500 to a loan of R8000
  •          The term for repayment ranges from two to six months

Why may it be convenient to use an express loan?

  •         It can help you build a better credit record: the repayments are made easier through a debit order which can help you enhance your record
  •         You can get a budget planning that is more effective due to the fact that loan’s interest rate remains fixed. Your installment will not change.
  •      Because of its nature being short term, the loan provides more benefits. It can be used for dealing with unforeseen expenses (such as emergencies) or simply for a small trip you did not have in mind.

How is the ABSA express loan online application?

If you are applying for the very first time, then you will have to apply for an express loan in person, at the branch that is of your convenience. In case you have already done business with ABSA and you are an existing client, then you should apply online. In order to apply through the online application, it is important that you respect the requirements set by ABSA. In general, the requirements are set the same way for any sort of loan. In this case, the requirements imply:

  •          A valid ID that proves you are a south African citizen
  •          The same age requirements applies as for an instant loan
  •          You can forward rates or a municipal bill together with a cell phone statement to prove your residential address
  •          Your bank statements or pay slips should be of an income of R1500
  •          You may have an account with any bank of your preference or with ABSA. It needs to be active for more than three months already

How does Absa revolving work?

Instant and express loans have already been discussed for those who prefer to borrow on a randomly basis. What about those who prefer to borrow money on a regular basis? That is what revolving loans are for. Clients can access a revolving credit facility, which works as a revolving loan. Clients get to have ongoing access. This is how it works:

  •          The amounts available for revolving range between R15000 to R150000 ( as you can see, amounts are higher in this case)
  •          The term for repayment is limitless. This means that it starts at twelve months but then you get to decide when to finish it. That is why it is indefinite.
  •          If you have repaid the facility’s limit (15%) then you may revolve back to the limit of the original facility or it can be an amount under the limit. The payments you carry out per month will remain consistent. The only moment in which they may change is in case the service fees fluctuate.

How do ABSA revolving loan interest rates work?

When dealing with a revolving loan at ABSA, clients will access the most convenient and competitive interest rates. How is this possible? Well, if a user decides to go for a revolving credit facility with ABSA and suddenly they receive a better offer from a different lender, the company will reduce the rate offered to keep them as clients. There are some conditions and terms that apply. The total monthly installments as well as the total interest to be paid by the client will be lower the ones that appeared in the initial agreement with ABSA. In order to claim, clients need to make sure that they are eligible for the so called price guarantee. There are some loans that are not included under the price guarantee offer, so you should check it out before enforcing it.

How does ABSA revolving loan online application work?

The process of application is carried out online and it works the same way as with instant and express loans. Remember that ABSA expects clients to create first an account and then proceed to forward the personal details of the customer who applies for the loan. You can apply too by calling the company. You may ask ABSA to call you back or simple apply taking into account that you need to meet the requirements that were mentioned above with both instant and express loans.

Does ABSA provide agricultural loans and are they convenient?

ABSA provides clients with a very particular agriculture loan that is not common in other companies. ABSA offers the innovative agriculture BEE finance, which works a massive loan. Some of its characteristics include:

  •          It is designed for those enterprises (large, medium or small) that operate in South Africa and that are owned by black people
  •          Clients can apply for up to R15 million
  •          The periods for repayment reach up to ten years
  •          It target growing business that need a credit facility in order to succeed.

This agriculture loan made for businesses provides clients with flexible terms, since they can repay it on an annual basis, on a quarterly basis, per month or bi-monthly. Clients will get immediate access to the products delivered for agriculture customers. As for the main features:

  •          In order to keep those additional funds in installment excess, you can access a flexi reserve facility
  •          There are different repayment options that you can take into account, such as payment escalation, facility repayments in terms of automatic capitalization and balloon repayment

How does ABSA ATM loan work?

Most of the loans offered by ABSA can be accessed through an ATM or can apply for them by going to one. As you may have noticed before, many loans can be applied for or accessed through an ATM. Clients get the chance to deposit money into an ATM.  ABSA instant loans are part of the convenience services you can get with ATMS. With an ATM loan, you get to access a loan in short term without the need of signing papers or standing in long lines. Your ability to pay it back will have a say on your ATM loan. It is a paperless cash loan which can be paid back within thirty five days after being withdrawn.

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Is there an ATM loan limit at ABSA?

In general, taking an ABSA loan can be enough. The maximum is of R5000 while the minimum that you can apply for is of R250. You can get it quite fast and without any paperwork.

How do I get a loan from Absa ATM?

Getting a loan from ABSA through an ATM is actually pretty easy. All you have to do is go to your nearest ABSA ATM, and apply for your instant loan (this means you will be getting the money you need at the moment of applying). The system itself of the ATM will guide you through with every step signaled. All you have to do is follow the steps that appear while meeting the requirements established for instant loans that were mentioned before.

Is it convenient to get a personal loan from ABSA? How do I get it?

Getting a personal loan from ABSA is pretty easy and more convenient than you may think. You get it through an online application or turning to one of its branches. The loan amount is quite flexible, as well as its term for repayment. ABSA offers a wide range of options that can reach up to a limit of R350000 with a repayment of the loan of a maximum of eighty four months. One of the great advantages of applying for a personal loan at ABSA is that you can be pre qualified in a provisional way. With a price guarantee, you can also get a rate tailored to meet your conditions and budget. The company offers a guarantee through which you can have your interest rate lowered if you get a better offer through a different provider.

How long does an ABSA personal loan take to be approved?

That will actually depend on the requirements being met. ABSA will also go through your credit profile, which can sometimes take a while. In general, loans take just a few hours while instant loans only take a couple of minutes.

Does ABSA provide convenient personal loan interest rates in SouthAfrica?

Personal loans at ABSA are a great choice since you can get convenient interest rates since they offer a price guarantee. When does this price guarantee apply? It works with the following types of loans:

  •          Study loan
  •          Personal overdraft
  •          Revolving credit facility
  •          Personal loans

With any of those loans you can apply for a price guarantee, which means that if you receive a better interest option, then ABSA will lower it down to provide you with even a better rate.

How can I do with ABSA personal loan quotes?

With ABSA, you can access personal loan quotes right when you need them. You can calculate your repayment for personal loans, overdraft and revolving credit loans. Let us explore loan quotes for personal loans. Imagine that you would like to borrow R 2,500 and you need this amount for two months. If you get a 5% interest rate per month, then your total repayment would be of R 3,097.92, while the initiation fee would be of R 362.25. In this case, you would have to earn per month a minimum of R 2,000.

Are requirements for personal loans at ABSA the same as for other loans?

Yes, they are. When applying for a personal loan at ABSA, what you need is to meet certain requirements so that the whole application and approval process can run without any inconveniences. The documents you should take to ABSA at your nearest branch are the same as the ones demanded for an express loan, for instance.

What do I need to apply for a loan at ABSA?

You will need to meet exactly the same conditions established for instant loans: having a bank account and a minimum income per month that equals R2000. The age factor is just as important as the other aspects.  This is the qualifying criteria for loans at ABSA. Remember that the bank can take into consideration other factors, such as your credit history.

What are some frequent ABSA personal loan enquiries?

Most frequently asked questions at ABSA have to do with loan debts and how clients can do to solve them out really fast. These are some of the classical enquiries and the responses from ABSA:

  •        What can clients do in the immediate present to get financially fit and have the debts under control? Clients are encouraged to pay their financial agreements per month, which includes store cards, financial obligations, credit cards and utility bills. Clients are also advised to track their financial standings through a monthly budget so that they can have all the details about expenditure and income
  •          Should I apply for additional loans? ABSA recommends clients to only proceed to apply for a different loan if they are one hundred per cent sure that the can afford to cover the repayment amount per month.

Does Absa Bank offer debt consolidation?

Sometimes, with a personal loan at ABSA you can consolidate different loans into a single one, so that you can have a better financial management. When you lack debt control, ABSA recommends clients to take some action in their lives. If you are struggling to pay your accounts, the company can help you manage your finances in a different way. Either it can provide you with a debt consolidation loan or you can turn to counseling with members of ABSA. You can make use of personal loans in order to consolidate your debt.

Does ABSA provide loans for the unemployed?

If you are unemployed, you must surely be having that terrible anxiety over your finances. When dealing with uncertainties, it is important to find a bank that can help us get through it with a retrenchment cover. It works similarly to a loan. ABSA provides a benefit for those who are unemployed known as Premium Banking and Gold Value Bundle. If you have these services already, then you do not have to pay for them in an additional way. These services provide a cover for those who are in retrenchment. If you already have the Gold Value service, then you will be able to get:

  •          R5000 in retrenchment cover
  •          Over two months, you can expect R2500 to be payable

If you already have the Premium Banking service, then the cover for retrenchment is of R10000 (much higher) and over a period of two months, you can expect R 5000 payable. In both cases, you will have a better cover if you have the Premium Banking service. In case you become retrenched, you will receive the monthly payment in your account. It is payable if the client has been retrenched from an employment that was full-time.

What can I cover with an ABSA loan and what can I access?

The loans at ABSA get to cover different areas of your life. With ABSA, you can make use of the following loans:

  •          Cover your vehicle
  •          Cover your home
  •          Cover your personal expenses
  •          Cover medical emergencies
  •          Cover purchases
  •          Cover special events
  •          Cover debts

Besides the fact that you can access personal loans, instant loans and revolving loans, you can access overdraft which also works as a loan in order to cover the costs for whatever you may need them. It will cover you especially during rainy days. If you find yourself in a cash emergency, then overdraft could be a great solution to help you manage your budget and cash flow. You will be able to:

  •          Access a revolving credit facility
  •          Access timely payments
  •          Access additional cash
  •          If you have a cheque account, you will be able to receive from R500 to R250 000
  •          You will manage transactions better and will enhance your credit history since you will be able to avoid debit reversals because of lack of funds.

Does ABSA offer 1 month loans?

ABSA does provide a unique loan of thirty five days in term (it is only five days more than expected) and it is called instant loan. This is the maximum repayment period, which means that you can be it earlier if that is your preference. Within those thirty five days, if you have taken a loan for R550, then the amount that you would repay would be of R55. VAT would be excluded and clients should take into consideration that certain conditions and terms apply.

Does ABSA provide Islamic loans?

The company provides Islamic asset finance and Islamic vehicle finance as loans. This type of loan is made exclusively to make sure that you can obtain the vehicle you need, no matter if it is for personal use or for business use. You will have the access to a vehicle through a fixed price and period, since it works similar to leasing. You will receive tax benefits and one hundred per cent financing.

Where can I find an ABSA loan branch?

You will find ABSA loan branches in all different areas of South Africa. For instance, if you live in Pretoria, you will see that there are branches there. You will find branches in Hatfield, for instance.

Are there ABSA loans in Durban?

There are plenty of ABSA offices in Durban. One of them is located in Kaseme Street, and it is available from Mondays through Fridays. On Game West Street you will also find an ABSA office.

Which are ABSA bank loans contact details?

If you need to reach out for ABSA, you can get in touch with the borrowing section by calling at 0860100372. This number is specific for personal loans.

In conclusion, the company provides financial services meant to help clients in a dynamic way. They can access personal loans, quick loans, instant loans, revolving credit and more.

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Questions and answers

I'm banking with standard bank do I qualify

It does not matter that you bank with another bank other than Absa to apply for their loans as long as you meet the requirements. For instance, for a personal loan at Absa Bank you need to be of legal age, and earn R2,000 or more. Besides, this salary must be from a regular work.

My daughter is a student at university, i’m looking to provide her with a car, she has an absa student account to which i deposit her monthly allowance. She has approached the bank for a finance agreement for a car but they were unable to assist her as she is not employed, despite me advising that i would be the guarantor on her behalf. Do you have a finance product that will allow us to purchase a car for her?

Absa only allows a guarantor to take a loan on somebody else’s name when we refer to student loans. If you want to finance a car for your daughter with Absa, you will have to be the applicant of the loan. Once you get your vehicle, you can give it to your daughter while you cancel the installments. But, from beginning to end, you will be the only borrower.

I would like to apply for a personal loan off r500 000, can I?

When we focus on Absa personal loans, we have to mention they only grant a maximum of 350.000 rands on these loans. So, if you need 500.000 rands, this is not the bank for you. Actually, there aren’t many entities granting such high amount of money on personal loans. You might find it but, on home loans or business loans, for example

How can I check if I qualify for a personal loan at Absa?

First, check you earn more than R2.000 p/m from your permanent job and, that such earning is deposited in a bank account. If that account belongs to Absa, you’ll have some extra benefit but, if you bank with another entity you can still apply for a loan at Absa. Then, you only have to submit your application from to allow Absa check your credit history. They’ll inform you about the terms you qualify for.

What is the interest rate on a personal loan of r50 000,00 to be paid back in 36 months?

When a bank states the interest rate to charge for a loan, they pay attention to some points about the customer’s financial status and, the loan terms. So, I’ll present you an example to help you on this. To start, Absa has a top APR of 17,5 %. You might get a monthly rate of 21 %, which means a monthly cost of R 1997 to cancel the personal loan. But, you have to know your rate will be agreed based, mostly, on your credit history.

How a short term loan for 3000 rands work?

As long as you are an Absa customer, you can get financial aids from just R250 to R5000 with no paperwork at all. You must know, though, you ought to have a standing credit record and a minimum salary of R250 in order to make Absa accept giving you such loan. Besides, make sure you can give the money back in less than 35 days.

How much will I pay back pm if I take a loan of 40000?

To get the official cost of a loan you must apply for it because the interest rate is always agreed upon after having the applicant’s financial situation into consideration, along with the terns for the credit. Next, I’ll show you an example: if you get a 4 years’ term and the interest rate of your loan is 8,5%, you will pay approximately R 986 per month. If you lower the payment period to just 2 years, the monthly installment might be around R1818.

How long does it take to have the funds in my bank account?

As there are few steps to take over when applying, it may last around 4 working days from the moment you start the request until you get the money available to use. However, it depends on how the application procedure goes. Assuming you have all your documents correct and, all the requirements are checked, the process will go faster.

Can Absa settle my debts for me?

Even though Absa can help you get a more organized payment schedule, they won’t take care of cancelling your debts. If you want to lower the number of installments you have to pay each month, you can use a personal loan with Absa Bank to cancel all your existing loans and then, paying for just one bigger installment with this bank.

Can I extend my loan?

There are certain points to look at before extending a loan. One point is to check how many installments have you canceled already and, if all of them have been paid on time. Another point is a new affordability assessment to verify you can pay for all the money you took and the new amount you’re requesting.

What is the criterion to apply for the revolving credit facility? I’m a client of absa. Thanks

A Revolving Credit Facility at Absa involves similar requirements than their personal loans. The applicants must prove he or she is South African, earns a permanent monthly salary of at least R 8.000 and has an Absa account to get paid. Apart from that, the applicant must be currently living in SA and must be older than 18.

Can I borrow an amount of r1000000 as a personal loan?

No, saddly, the highest amount to take with Absa on a personal loan is R 350.000. If, on the other hand, you need to get some important home renovation, you may qualify for a home loan. This kind of loan can be granted for a higher quote so; you might get your R1.000.000

Am I able to apply for an Absa loan if I am not banking with them?

Yes, Absa provides any citizen meeting their requirements with the chance of getting financial aids. Of course, for those who are their customer, the process is simpler and, they even get better rates. Either way, you can also get a low rate providing your credit history is good. You will have to agree with Absa about the bank account you’ll get the money from.

I have problem here. I want a loan but I'm not banking with Absa, how can you help me?

We can help you by telling you that being an Absa previous client is not one of the requirements this bank asks for. However, we want to remind you that Absa needs you to show them the last bank statements from your current bank account to agree on your loan terms. Then, as long as you are a SA citizen living in the country, you’ll find no obstacles applying for a loan at Absa..

How long do I have to repay on monthly basis?

There are three different payment options at Absa. For example, if you take a personal loan, you have up to 84 months to cancel it. But, there are two shorter terms available. An express loan will be paid between 2 and 6 months and, the Instant loan must be cancelled in 35 days maximum. As you can see, you have few practical alternatives to choose from according to what you need.

I want to take loan of ten thousand rand, I earn three thousand and six hundred and, I want to know if I qualify for this loan

There are more details to take into consideration when it comes to qualify for a loan. Starting, banks usually establish a minimum salary as requirement. Absa, for example, asks their customers to get a monthly income of two thousands rands or more. Clearly, this is a requirement you perfectly meet so, you have chances of getting your loan.

Can I get a loan to pay for my studies?

Yes! Absa can assist you with their Study loan, providing you’re employed full time. If you don’t work, a parent or guardian with a permanent income can take out the loan on your name. This product will cover the tuition fee for one study year. After that year, you will have to re apply to get funds to keep paying for your studies.

Hi, I would like to get a personal loan at Absa Bank. Please, inform me about it

If we pay special attention to Absa personal loans, we can mention the quote they offer is between 3000 and 350000 rands. In addition, you can pay the money back in just 12 months up to 84. Absa even assures you they can improve any interest rate offer you might get with another companies so, try not to waste this opportunity of getting the lowest price.

Can I get the highest quote with Absa?

You can apply to get the quote you need and, providing you meet Absa’s criterion to take the highest amount of money they are willing to lend you, you can get it. That criterion involves earning a high salary and having a perfect credit score. If you are this kind of client, you can get the highest loan amount on the type of credit you want to take.

How much will I pay on interest? Thanks

The interest rate Absa will put on your loan will vary according to the terms you get, among few other factors. For example, the sum of money you take and, the period to give it back has a lot to do with this point. Besides, the most important aspect to decide the cost of the loan will be the credit score your past payments have left you.

Can I take a loan to pay up my credit card so that I can have one payment?

If you are starting to feel your debts are about to get out of control, this is the time to fix it! When taking a loan to pay for your many loans and credit cards payments, you end up with just one debt, making the rest of your payments easy to carry out. Ultimately, you can get help from Absa to put your finances in order.

Does Absa offer consolidation loans?

No, this kind of loan is not offered by Absa. You might research in this platform about FNB or African Bank that are two of the most popular companies from South Africa that include such loan among their loan products. Once you read about them, you’ll perfectly notice if any of them can provide you with what you need.

I want to buy a car so I need finance, could you please help me?

Of course we can! Assuming you have ABSA as a possible lender, you’ll be happy to know they have alternatives to finance your dreamed car. Some of those options are trading a used car you own and, making balloon payments to lower your installments and calculating the approximately price before applying for the loan.

How long should I wait between paying my instant loan back and applying for a new loan?

That answer varies according to each client and how they have behaved with their payments. If you have always respected your payment date, your chances of reapplying are higher. Remember that, if you wait long enough for this canceled loan to improve your credit score, you might get better terms for your new loan.

How much do I qualify for a loan?

As this is established with a full package of your past and present information, you must apply at Absa to be informed about the loan quote you can take. Inside that package, you need to present information about how much you earn per month and, how much money you spend on bills, food, and monthly expenses. With that data, Absa will calculate the amount of money you would have left to pay for the loan installments.

I need a loan urgently, what are my options at Absa?

The fastest loans to be issued are those that work for short amount of money. An Instant Loan, for example, allows you to have cash available at anytime but, you can only take up to R 5000 and, you must pay it back in just a month. If that option doesn’t suit you, an Express Loan will be paid back within 6 months and, the quote can reach up to R 8.000.

What are the terms and installments for a personal loan at Absa?

An Absa personal loan can assist you with 350.000 rands or less and, you can have a maximum of 84 installments. As regards the interest rate, it is stated having your financial situation into consideration so, whether you get a high or low rate, it will depend on that. To add valuable information, the payments are flexible and, as long as you’re an Absa client, you have the chance of being pre-qualified.

Can I get a loan while using atm?

Yes! If you have your Absa account, you can check if you are pre-qualified for a loan using an ATM. If you get this pre-qualification, you can check the loan quote and terms they set for you, which is decided analyzing your banking information, to compare it with other banks before applying for it.

Can I apply for a loan with a permanent resident permit? My id is not out yet

There are many companies that issue loans to those who are granted a permanent resident permit but, if you are waiting for your ID to be ready, it will be much simpler if you ask for the loan after you receive it. Besides this requirement, remember you have to have a work permit as well to be eligible for any loan in South Africa.

Looking for a loan for r5000. I will pay for it in 6 months

With Absa Loan you have different alternatives to get just what you look for. For example, in your case, an Express loan will suit perfectly. This loan is issued for r8000 or less and, you can repay it from 2 to 6 installments. Without a doubt, you R5000 loan over 6 months can be a reality at Absa.

I need a loan to pay my debt

What you need is a Debt Consolidation, which fortunately many companies offer to as to make sure clients can cancell their loans. Fortunately, African Bank does offer a Consolidation Loan which you can repay in periods ranging from 18 to 72 months. You can easily apply for this loan and forget about your debts, by entering the bank´s website and using online application available.

What type of loan should I apply for if I need instant money?

You should apply for Instant Loan, which gives a minimum amount of R250, and a maximum amount of R3, 000 for any adverse circumstance.

How can I obtain an Overdraft?

You can complete an online application form or by phone at 0860100372.

Can I get a loan to purchase a farm?

Absa has a wide range of loan alternatives for you but, they are not related to any kind of business. You might try with a personal loan but, the highest amount you can get is only r350.000. All the same, you have other companies that do grant loans to use with business purpose like Nedbank, for example.

I really need to settle my car, can u please help ? Im banking with absa

If you are looking to finance your car what you need is either a personal loan and apply for its maximum or you can also begin the application by phone on 0860008600 and obtain a vehicle loan

How soon can I get the money if I apply for a Personal Loan?

The money will be in your bank account in less than 10 minutes.

What loans does Absa offer for R150 000?

Such high loan amount with Absa can be approved only on a Personal loan as, the other alternatives are for lower amounts –up to just R8000. So, your R150.000 personal loan can be paid back on a year or, can be stretched to 7 years top. Of course, this loan won’t be immediately approved like the Instant loan, for instance, but it will cover your full needs.

If am earning $3000 is it possible to get $15000?

As Absa demands their loan applicants earn a minimum salary of R2000 and, you say you earn R3000, it is possible for you to get the loan amount you need. Bear in mind the rest of the requirements and you’ll be on the right track. Remember they are being at least 18 and receiving your monthly salary through a bank account.

I have been an Absa client for a good many years but find that there is an age criteria disqualifying me even before my loan application is submitted. I am 16 years passed the acceptable age for a loan but do have assets valued in excess of the money required. Based on this will the age criteria be wavered?

Absa requirements are set to avoid not eligible customers wasting their time in a loan application the bank won’t approve. Consequently, you can’t apply due to your age regardless of your valuable assets. Either way, you can look for a pawn loan to use those assets as security of the money borrowed. That’s how you won’t stay without your financial aid.

If i take 50,000 for five years, how much i could pay on one month? I just want a long term loan so that I can handle to pay it

If you are preoccupied about not having enough money to pay for the monthly installments, let me tell you that’s something you don’t need to worry about. When any client asks for a loan, the bank will certainly check the client payment capacity. That analysis will state if he or she can have the loan and, the terms they could handle. This means that, providing you submit Absa real and true information, they will set loan terms that perfectly meet your finances.

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