Absa Personal Loan — published terms
The figures in this table come from Absa's Personal Loan page. They describe the standard Personal Loan, not Express or Instant.
Core parameters
| Parameter | Official detail |
|---|---|
| Amount | Up to R350,000 |
| Term | 12–84 months; current Absa customers may see terms from 2 months |
| Rate type | Personalised APR |
| Published floor | From 13.75% p.a. |
| Worked example | R50,000 / 36 months / 18% p.a. = R2,113 a month |
| Fees in that example | Absa states the R2,113 includes service and initiation fees |
| Credit life | Mandatory Credit Protection Plan |
| Currency | South African rand |
| Absa does not list a ceiling APR on that page. Do not treat any third-party max rate as official. Read the quotation. |
Eligibility for this SKU (12 months or more)
You need regular income of at least R2,000 a month, a bank account that receives that pay, and you must be 18 or older. Absa lists a separate, lower income bar (R1,500) and an active Absa account for smaller loans of 2–6 months. That shorter ticket is not this SKU.
Documents Absa lists
Bring a South African ID book or card and the last three months' payslips or bank statements. If you are not already an Absa client, add proof of residence not older than three months. Self-employed applicants need an ITA34, six months' financial statements and an accountant's letter. Pensioners need a pension or RA statement.
Other family products
Express is R1,500–R8,000 over 1–6 months. Instant is R350–R8,000 for up to 35 days. Keep those tickets off this comparison if you are pricing the R350,000 Personal Loan.
Legal identifiers
Absa Bank Limited, 1986/004794/06, NCRCP7, FSP 4. Confirm the credit-provider record at ncr.org.za before you sign.
