Absa Loans – Absa is one of the biggest financial institutions in South Africa and offers all types of loans if you are looking to borrow some money. Not only does it cater for individuals with solutions such as personal loans, vehicle loans, student loans etc but also businesses as well by offering Business Revolving Loan, Working Capital, Business Overdraft and so on. ABSA not only caters for people looking for credit solutions only but also has insurance, banking and investment solutions as well.
Which Absa Loans are available?
ATM Loans are ABSA Loans that are available to existing ABSA customers with a cheque or savings account. You will only be charged a 10% fee on the amount you want to borrow otherwise no interest is charged. The ABSA ATM loan is repayable within 35 days. This type of loan is ideal if you need extra cash to take you through the month. It will take you only a few minutes to apply and withdraw the cash from the ATM, as simple as that.
Express Loans are Absa Loans that are more of short-term loans that gives you access to funds that range between R1 500 to R8 000, and you can repay if back between 1,3 to 6 months. These Absa Loans are available to individuals who earn more than R1 500 a month. The good thing about the Absa Express Loan is that you will get instant access to funds especially when you need it in a hurry and you can repay it back on your next pay day.
Personal Loans are Absa Loans that are more of long-term loans whereas the Express Loan is short-term and you will be able to borrow more money and pay it back much longer. With Absa Personal Loans you can borrow anything between R3 000 to R150 000 and comes with repayments terms of 12 months to 84 months. There are no penalty charges for early full loan repayments.
Revolving Loans are Absa Loans that are for individuals who earn more than R8 000 monthly and gives you access to funds whenever you need it. A revolving loan is a facility that allows you to re-borrow funds that you have already paid off without going through the process of re-applying for it from scratch. You get a fixed rate on the interest rate which allows you to know exactly how much you are paying back monthly.
Overdraft Loans are Absa Loans that are available to people who earn more than R3 000 a month and they allow you to borrow money that exceeds your zero bank balance. You will be able to use the overdraft to borrow money whenever you want depending on the agreed overdraft limit. These types of Absa Loans are very popular with individuals who need access to money but don’t have enough money in the bank. Absa Overdraft incurs a daily interest making it crucial to repay it back as soon as possible.
Home Loans are Absa Loans that allows you to secure finance for your property giving you the ability to tailor make the home loan to suit your specific needs. This can include even vacant land if you want to purchase and build from the ground on up. The Absa Home Loan has got flexible repayment terms of up to 30 years which come with a range of interest rate options to choose from. Not only can you also have access to available funds immediately with FlexiReserve but can save on interest rates by making additional deposits in your loan.
Why Choose ABSA Loans?
ABSA Loans are loans that take into account your unique individual needs and affordability and are issued with fair repayment terms and competitive interest rates. For some loan types you can actually apply for them through cellphone, online banking or even through the ATM and once the application is approved the money is transferred into your account immediately.
Loans from ABSA come with a Credit Protection Plan that covers you in case you encounter an unfortunate circumstance that prohibits you from carrying on with your loan repayments such as being retrenched, suffering a permanent disability or even death. You can also choose to settle you loan much earlier than the stipulated loan tenure and this won’t get penalized at all!
How do I apply for Absa Loans?
For more information regarding Absa Loans you can visit the nearest Absa branch and speak to their in-branch consultants who will assist you with any loan related queries or visit their website www.absa.co.za for more information.