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Are There Absa Loans in Randburg? Interest Rates and Requirements

Since 1991, Absa has been in the South African market with the objective of providing financial help to most citizens. In order to make this possible, it has a department exclusive designed to provide loans. Within this kind of services, there are two areas: personal and business loans. In this article, we will give you details about both groups of lending programs. What is more, if you live in Randburg, we will describe the different ways you have to apply for them.


                There are three different personal loans at Absa that depends on the amount of money you need:

-You can apply for an Instant loan to borrow R250 to R3000. The money will be accredited quickly and you will have up to 35 days to repay such money. This loan has an initial fee of 10%.

-If you need more money, you can resort to an Express loan. In this case, you can borrow from R1500 to R8000. Of course, you have longer financing periods available: from 2 to 6 months. Interest rates will vary based on the amount of money, but they usually flirt 5%.

-Imagine you need even more money, you can apply for a Personal loan as such. The amounts of money available go from R3000 to R350000 and you can use it to afford whatever you want. Regarding financing, there are programs that go from 1 to 7 years. Interest rates also change based on the amount of money and you will have to add 10% as fees.

                Let’s take a look at an example of possible quotes for a loan of R20100. You can repay the money in 1-year term with an interest rate of 21%. Therefore, you will have to make 12 payments of R2051. You can also repay the money in a 4-year term. Therefore, you will have to make 48 payments of R727. You can also borrow R300000 and finance it with the same interest rate. It is available to choose a longer financing period, such as 5 years so as to make payments of approximately R8216.

BUSINESS LOANS                 

                When it comes to improve business, Absa also has the solution. You can also choose among a variety of loans based on what you need for your current business or what you are in search of to start a new one.

-One of them is Business term loans. By means of these programs, clients avoid using their capital to consolidate debts, to buy new assets or even more. The loan can be financed with fixed interest rates and payments can be done in periods that go from 3 to 120 months.

-If you need to travel for business, you can apply for Business vehicle loans. With these programs, you can finance forklifts, cars, graders, combine harvesters, trucks, diggers, three-tonner and trains among others. There are flexible financing periods available that you can choose depending on your needs. They go from 12 to 60 months.  

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-For those who live in the country side, you can resort to Commercial and agricultural property loans. The bank offers loans to finance property purchase around the country, such as mortgages backed business loans, investment loans, development loans, lease discounting and even more.


                As far as requirements are concerned, there are some things that you have to take into account. In the first place, the minimum salary should be of R250. Secondly, you should have an account open in the bank so as to deposit the money. What is more, you have to show your identity card, a document to prove your address and of course, your latest paystub.


                There are many ways available so as to start application and we will carefully show you how:

Via Internet: if you visit Absa official webpage, you will find further information about the programs. What is more, you can also choose one programs, click on “Apply now” and start online application without leaving your home. This is an excellent way for those who are in a hurry to get money.

By phone: if you prefer more personalized information, the bank has an organized system of phone lines destined to answer questions, to listen to comments and to start applications. For general inquiries about the bank, accounts or rates, the line available is 0860 008 600 and it is available all day long, every day. In case you want to know more about personal loans or if you want to apply for them, please dial up 0860 100 372. The same can be done for business loans calling 0860 040 302.

In person: it is comprehensively that when it comes to money, clients prefer face to face interaction. Fortunately, there are many offices in Randburg with highly specialized agents waiting for you. One can be located at Verdi Shopping Centre. It is located at 231 Beyers Naudé Dr and it is open during the week from 8.30a.m. to 3.30p.m. and on Saturday from 8a.m. to 12.30p.m. The branch has a phone line that you can call that is 11 446 6600. Another office can be located in the area of Windsor East. The exact address is 23 Beatrice St and its doors are open during typical office hours. If you want to contact the branch by phone, please dial up 860 008 600.

                To conclude, with Absa Bank there is no excuse to succeed in life. The company offers plans to improve not only your life but also your source of work. Don’t hesitate to contact the bank either in person or by using technology so as to get the money you need to be happy. Don’t let money be problem in life. If problems are in the hand of those who knows how to deal with, everything is easier.

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Questions and answers

What is the minimum age to apply for a loan?

The minimum age is 18 years.

How can I get more information about business loan rates?

You can call 0860 040 302.

How can I finance vacations?

Apply for a personal loan!

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