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Absa Bank Online Loan Application

Organization : Absa Bank
Facility Name : Online Loan Application
Location : Johannesburg
Website : https://www.absa.co.za/personal/loans/for-myself/explore/

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Absa Online Loan Application

Set your plans in motion with the right personal loan

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Types of Loan

Need to borrow cash for something specific? We have the perfect personal loan for you.

Personal Loan

All-purpose borrowing, for both planned and unplanned expenses.
Amount : R3 000 – R350 000
Repayment term : From 12 – 84 months

What You Need?
** To earn a regular monthly income of at least R2 000 per month
** To have a bank account into which your income is paid
** To be 18 years or older

What to bring with you?
** A valid South African ID document or Smart card
** Proof of residential address such as a municipality or rates bill (not older than three months)
** Latest three payslips or three months’ bank statements.

Express Loan

When you need money and want to pay it back quickly.
Amount : R1 500 – R8 000
Repayment term : From 2 – 6 months

What you need to apply?
** A valid South African ID document or Smart ID Card
** You must be 18 years or older
** Proof of residential address such as a municipal or rates bill and cellphone statement

** Your last three months’ payslips or bank statements showing a minimum monthly income of R1 500
** A transactional account with Absa or any other bank, active for three months or more

How it works?
** Minimum repayment term of two months and maximum of six 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 six months at 5% per month would be R1 200. Terms and conditions apply.

** Credit protection is required and will cover you in case of death, permanent disability and critical illness. You can get cover to protect your loan with Absa Life Limited or any other licensed life insurer.

Instant Loan

Quick cash anytime, at any Absa ATM or on Absa Online.
Amount : R250 – R8 000
Repayment term : 35 days

What You Need?
** A good credit record
** A regular monthly income of R250 or more
** An Absa bank account into which your monthly salary is paid
** You must be 18 years of age or older

How It Works?
** Maximum repayment period of 35 days
** A once-off initiation fee of 10% will apply (excl. VAT)
** The amount to repay within 35 days for an instant loan taken for R550 at an initiation fee of 10% would be R55 (excl. VAT). Terms and conditions apply

** Calculate your estimated total costs of our Instant Loan
** Credit protection will cover you in case of death and is available from Absa Life Limited

Access to cash whenever you need it
If you need to borrow money regularly, we have the loans to see you through.

Overdraft :
Easily access cash if you have a cheque account.
Amount : R500 – R250 000
Repayment term : You only pay interest on the amount you have used.

Revolving Credit Facility :
Ongoing access to cash when you need it.
Amount : R15 000 – R150 000
Repayment term : From 12 months – infinite

Credit Card :
Make everyday purchases and cover unexpected expenses.
Amount : Flexible
Repayment term : Flexible

Online Services

Due to capacity constraints because of COVID-19 and the 21-day lockdown, we are only able to assist our existing customers with the following services

** Overdraft
** Personal Loans
** Insurance
** Home Loans
** Savings & Investments

We are unfortunately not able to assist any new customers at this time.

How to Apply?

Just follow the below steps to apply for online loan application.

Steps :
Step 1 : If you are an existing customer, with access to online banking, please log on to your online banking, go to Full Service, click on the Apply tab and select the product you would like to apply for.

Step 2 : If you have one of the following accounts with us, but have not yet registered for online banking, you can use the account number with your personal details to get your online registration.

Online Registration : https://ib.absa.co.za/absa-online/registration/

** Transactional
** Home Loan
** Asset Finance
** Personal Loan
** Insurance Policy

Step 3 : For Online Registration, fill the registration form with the following details,
** Sole Proprietor Registration
** Active Absa Online
** Other Business Application
** Business – Create New PIN

What happens if I do not qualify or any of my information needs to be verified?
If you do not qualify for the product, or we need to verify any of the information provided in the application process, we may not be able to assist you right now.

However, a call centre agent will be in contact with you as soon as the 21-day lockdown has been lifted. We apologise for the inconvenience.

Remember, you will still be able to do your transactions online and on our banking app. We recommend this for your own safety and in the spirit of social distancing.


Need more help?
Let one of our consultants help you get the best loan for your needs.
Call us on – 0860 100 372 or Visit your nearest branch.

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